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Trade and Mindset Failure Analysis.Everyone has bad days in trading - I usually never let my mind get affected. This was different, because like an amateur, I panicked out of a set of trades because one went bad. I was in three trades simultaneously- 1. Short on a put option for 9000 strike = Would have worked out if I gave it time 2. Bought Tata motors - trade premise inconsistent and circled back to market conditions = Would have been a break even trade - why was I trading the stock anyway, it was neither my speciality nor an immediate need. Maybe I was uncomfortable with my exposure 3. Long on a call option = Would have worked out if my goal was different (instead of covering a loss from the above two trades, I should have treated it as an independent event) The timeline of events is as above. Learnings: 1. Stick to Futures, Options and Indices. I am not a stock trader - I trade derivatives which I'm good at. Lack of volatility made me skittish and I panicked. 2. I'm watching too many TV series and not working hard enough. That changes today. I am working out every day which is becoming the second good thing I do - I used to have more and I'm going to work harder to get back to that. 3. Too many things on my mind - its time to close everything outside of trading that's pending - immediately, make a to-do and strictly stick to it 4. No more gaming on weekdays, its messing with my hardwork mindset. Other affecting factors: 1. Bitcoin is not moving. I'm hedged but its an opportunity cost that gets heavier as time goes by. Okay - that's out of my system. Back to work.
NSE:NIFTYEducation
by hiteshbhatia3559
Time to move up?NIFTY moved down in the fourth wave and bounced up from the red line as expected (see below). It appears to have now completed the fourth wave. NIFTY could move up in the fifth wave (magenta) in October, which could take NIFTY up to 12200-12300. However, if NIFTY crossed the red line and confirmed it as resistance then this wave count will be invalid and further downside would be expected. PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk. Previous analysis indicating a downward trend in NIFTY:
NSE:NIFTYLong
by ndau
Nifty going down to 10200?Nifty appears to be correcting in an ABC pattern (bigger pink wave). It has completed the A wave and is currently going up in the B wave. B wave is expected to first first take Nifty down to around 10500 and then up to around 10730 (or at the most 10850) where wave C is expected start. Wave C could take Nifty down to 10220 though this level would also depend on the level of correction in wave B. Stay tuned! Note: It is just for my own reference and is not a trading advice.
NSE:NIFTYShort
by ndau
1
SENSEX Index Another Topping Formation DevelopingSENSEX INDEX India This is another index that looks like it's topping out for the summer. The great bull campaign from the 2009 low at 8075 to a high at 36370 over 9 years is in its final stages. Echoes of the Dax here. A break below 34291 will trigger a short opportunity here back to 32516 where it should attempt to bounce - but it won't get far when it does. And once it breaks below here it should start to fall away in stages to 31096 then 29169 where it should bounce harder. If at any point over the summer 29169 gives way to bears it should fall harder still 25772 and when that breaks to 22577. A series of potential short opportunities here all summer long. Be lucky.
BSE:SENSEXShort
by sumastardon