so i initiated a short trade by BUYING 4800PE AT 75 (NOV SERIES)
after i bought it , it did went down to 68, but at 3.30 it was back to 76, so i was relieved.
but i kept thinking abt it, but i wasnt worried as qty was very small.
i think to trade tension-free and to take brave decisions are ALWAYS TRADE SMALL QTY.
Small qty gives u freedom to hold on when positon goes against u.
or maintain strict STOP LOSS.
and On 27.10.09 nifty opened gap down. but i didnt take the full use of otherwise a great trading day.
nifty flew only one way.
and it paid of well on 27.10.09.
i did great mstake on 27.10.09 by going long intraday (by watching 5 min, 10min, candles and 2swing)
as 2day and 5 day swing is in down mode , than why initiate long trade? fool......
i bought miniNF nov at 4911 around 12.28pm (NS = 4891)
stopped out at 4875 around 14.35pm (ns=4855) - SL hit because NS made new low.
Well, going long came to my mind after reading somebody`s astro predictions on vfm. (i cant blame him)
but why read astro predictions? if they were to be true than all astrologers would be rich ppl.
so, now onwards never read or follow anybodys predictions/recommendations..
i had seen what happen to Gujarat siddhi cement (tipped to me by my friend) - it was around 120 when tipped , and now after 3 months its at 115.
and just recently Aadhunik metals( tipped by frnd) - it was around 111 when tipped, targetting 130, but now its at 107.
For today, scene is like....
so, 70 ema is far from 1030ema , so its not a good risk/reward to go short here,
lets wait for nifty to come around 1030ema or near previous swing highs (near 5050 / 5030) and than initate positional short / buy OTM PUT
So, today i wont be doing anythig whole day except watching nifty.
and take decision at 1500hrs or 1525hrs. or when system gives good signal with big candles.
One more thing.
I m going back to my positional trading style. will be buying OTM options as per 5 day & 2 day swing system.
"ROME WAS NOT BUILT IN A DAY.IT TOOK MANY YEARS"
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