Price of Ignoring the Screen.

3rd week of march.

Ignoring the Screen made me pay my approx 30% of profits earn this month.

It was 15.03.10 & nifty was in uptrend since last 12 conseccutive trading days, so correction was expected, 

nifty gave down ORB after gap down, in which SAR (5130) was take out. 

 So, i went short at 5115 (nifty future)

but at the time of closing i forgot that nifty closed very much near my SAR level.

so i didnt do anything on that day.

Than on next day on 16th march 2010 SAR was at 5120 and i simly ignored the fact ,

by telling myself that whenever new position start SAR is always near the buy/sell level  (but thats very much imp for me to manager at 10 min chart level)

on 16th after opening it remained in tight range,

which made me ignore it. but the fact was that it was trading above SAR.

and before i can realise it started rallying ., so i thought its just a small short covering,

 and i made another mistake.

Shorted another nifty at 5137 @ 9.55am,

without thinking of stoploss.

But it never came to those levels. ( It still didnt -  I m writing this after a week on 23.03.10)

and i waited .......... and waited..........but no luck.

Than  on next day also it didnt gave me any chance to cover at lower levels.

and finally on 18th march at 5235 i covered all lots.

with 100 Points loss` on each lot.

This wouldnt have happened if i had kept a close tab on my SAR & 10 min charts.

It took away months 30% profit - which i earned slowly slowly option writing.

NIFTY FUTURE TRADING IS NOT PROFITABLE (ATLEAST NOT FOR ME....)