Trade No - 1 : Taken bearish view looking at all through negative bias of Share market. IT Sector was negative and INFOSYSTCH broke 1500 also. Went short at 1526 (avg) viewing the scrip at pullback rally. But, it made turnaround. Stoploss should have been immediately above 1530.
But, I waited for 1540 for final stoploss and incurred unnecessary losses in this trade.
But, I waited for 1540 for final stoploss and incurred unnecessary losses in this trade.
- Mistake (1) : Should have been waited for breaking 1505 again before taking/ increasing short position.
- Mistake (2) : Stoploss must have been at 1530.
- Mistake (3) : Should have reversed the trade and bullish position was not assessed.
Trade No - 2 : Changed the scrip and took bulish position on TCS due to immediate turnaround of IT Sector. When TCS crosses 806, wated for pullback and went long at 805. But, it didn't sustain there and broke 800 twice and stopped me out resulting further loss today.
- Mistake (1) : Script should not have been changed. If sector remaining same, bullish position should have been taken on INFOSYSTCH, because it was being traded with lesser negative bias today.
- Mistake (2) : Position should have been taken either as close as the stoploss point (800) or after the script crossing 808 comvincingly with maintaining stoploss below 808.
- Mistake (3) : Today was day for bears only. Trade should have been focussed on with bearish view.
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