My Experience on 8th August' 2008
Trading with INFOSYSTCH:
Observed trading with negative bias. But, market was overall flatish. So, although taken bearish position, could not make profit due to market whipsaws.- Observation 1: If market remains flatish, entry should be made as close as support or resistance level with thin stoploss.
- Observation 2: Bearish position will be most profitable if entry may be made at the sight of short reversal.
Trading with SBIN:
This scrip was being traded with positive bias for last few days above 1500. So, trader waited for taking bullish position at the sight of initial weakness. So, my position being bearish for the day could not help me to obtain profit in today's trading.- Mistake 1: Could not visualise the market behaviour which was flatish for the day.
- Mistake 2: Srip was originally bullish. So, before taking bearish view, all type of technical confirmations were needed.
- Mistake 3: Multiple trading on any scrip should be avoided.
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