Hi Friends and Traders,
Thought of sharing this interesting trade that really tested my patience and invoked all sorts of thoughts (that one has to control) to win over the markets.
Perfect Entry
Good Risk to Reward
Market was not in the mood to reward me yet :-)
Went completely sideways for almost 20 days
Stuck with the trade as the price was in HH , HL formation and way above my SL levels
As per my analysis 140 level was crucial and breakout above that was needed to sustain at higher levels
Stock attempted multiple times and my conviction grew
However as time progressed , movement became more sluggish
Stock started making LH , LL
Swing Highs started moving lower
Crucial Support Zone started being tested by SELLERS multiple times
No Matter What My Initial Exceptions Were - Market was NOW indicating that It has no Steam left to give me the MOVE I expected...Expiry was 2 days away and margin requirements would HIT THE SKY. IT WAS Time to Cut The Trade - All and All a PROFITABLE TRADE (approx. 10 K Per Lot)
Lots of Learnings that a starter should take from this :
NEVER EXIT YOUR UNLESS YOU HIT STOP LOSS OR TARGET PROFIT
DO NOT LET YOUR THOUGHTS MAKE YOU DO TRADING ERRORS
DO NOT OVER ANALYSE THE TRADE ONCE YOU ENTER
TRADE WHAT YOU SEE AND NOT WHAT YOU THINK
CONTROL YOUR EMOTIONS (FRUSTRATION , PANIC , ANGUISH , GREED )
P.S: ROLLOVER TO JULY ON THE CARDS
Thought of sharing this interesting trade that really tested my patience and invoked all sorts of thoughts (that one has to control) to win over the markets.
Perfect Entry
Good Risk to Reward
Market was not in the mood to reward me yet :-)
Went completely sideways for almost 20 days
Stuck with the trade as the price was in HH , HL formation and way above my SL levels
As per my analysis 140 level was crucial and breakout above that was needed to sustain at higher levels
Stock attempted multiple times and my conviction grew
However as time progressed , movement became more sluggish
Stock started making LH , LL
Swing Highs started moving lower
Crucial Support Zone started being tested by SELLERS multiple times
No Matter What My Initial Exceptions Were - Market was NOW indicating that It has no Steam left to give me the MOVE I expected...Expiry was 2 days away and margin requirements would HIT THE SKY. IT WAS Time to Cut The Trade - All and All a PROFITABLE TRADE (approx. 10 K Per Lot)
Lots of Learnings that a starter should take from this :
NEVER EXIT YOUR UNLESS YOU HIT STOP LOSS OR TARGET PROFIT
DO NOT LET YOUR THOUGHTS MAKE YOU DO TRADING ERRORS
DO NOT OVER ANALYSE THE TRADE ONCE YOU ENTER
TRADE WHAT YOU SEE AND NOT WHAT YOU THINK
CONTROL YOUR EMOTIONS (FRUSTRATION , PANIC , ANGUISH , GREED )
P.S: ROLLOVER TO JULY ON THE CARDS
