Turning Silly Mistakes into Monumental Wins

 Turning Silly Mistakes into Monumental Wins

       Today we made three trades. One turned out successful, while we incurred small losses in the other two. Recognizing the importance of thorough research before fully committing to stocks or options, we understand the significance of analyzing our trades before randomly entering them. Currently, our strategy is to focus on one trade per day.

      Additionally, we observed an interesting trend today. While Nifty, Bank Nifty, and Sensex usually move together, their price movements and traded volumes exhibit notable differences. They form distinct patterns and react uniquely in the market. This insight reinforces the significance of considering individual characteristics and behaviors when navigating these indices.

For e.g.  

This is how nifty reacts when there is sudden increase in the price. 

And this is how Sensex reacts when it suddenly shoots up. 

And also see how it suddenly retracts after shooting itself up almost forming and shooting star but the price congestion remains same for both of the indices. 

 

Nifty 19400 PUT  

        Honestly, we decided to bail out of this trade because we were afraid of losing money, ending up with a -50% loss. Turns out, the stock went up to 20.25 after we left, so it worked out better for us. Still, we didn't stick to our usual strategies, and that's a lesson learned even with a small loss of -50%.

SENSEX 65800 PUT 

We, as a team, secured a profit of 89.1%, showcasing the effectiveness of our trading methods and strategy. Staying true to our approach, we entered and exited at precise moments aligned with our strategy. Handling 30 options, we achieved a noteworthy gain, investing ₹444 and generating returns of 89.1%. This successful trade underscores the importance of adhering to our established methods.

 

 

 

 

 

 

SENSEX 66600 CALL 

We entered a trade with a substantial volume of 100 options, hovering on the edge. Unfortunately, as you might have guessed, things didn't go well. We ended up chickening out and closed the trade with a loss of -₹98.    

        We're not thrilled about making this trade, and we're pretty frustrated with ourselves. It's not a move we'd typically make, and we feel like we let our emotions get the best of us. Ironically, if we had stuck to our original trading plan and faced the fear, we could have easily turned a ₹400 investment into ₹1000. Lesson learned about the importance of sticking to the plan and not letting emotions take over.

 

Had a decent day trading, made around 24% in total profit. One trade stood out, bringing in 80% of the gains. Got to be careful though, sometimes overconfidence kicks in and takes over the decision-making.

Key Takeaways:

Importance of Research: The article emphasizes the need for thorough research before entering trades. Analyzing past performance and understanding market trends can help minimize losses.

Focus and Discipline: Limiting trades and adhering to a defined strategy are crucial for consistent success. The profitable Sensex 65800 PUT trade exemplifies the effectiveness of this approach.

Recognizing Emotions: Acknowledge the role of emotions in trading decisions. The Nifty 19400 PUT trade showcased how fear can lead to missed opportunities. Sticking to the plan and managing emotions are essential skills.

Learning from Every Trade: Both successful and unsuccessful trades offer valuable lessons. The costly exit from the Sensex 66600 CALL highlights the importance of controlling emotions and trusting the strategy.

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