Trade Overview 22nd August 2024

 

For my recent trade of shorting the Nifty 24,750 put, I adhered to my trading plan, with both the entry and exit points decided in advance. While my mindset isn't exactly where I want it to be, it's certainly improved from where it was before.

I won't deny that I wasn't entirely calm during the session, but importantly, I didn't make any decisions driven by FOMO. However, in my second trade, I allowed fear to influence my actions. My entry point was far from ideal, as I acted too hastily and with overconfidence, not allowing enough time for the session to provide a clear signal. I'll make sure to keep this lesson in mind before taking on my next trade.

I'm not proud of how this trade of Nifty 24800 Call unfolded. I acted out of pure desperation, despite knowing that the price likely wouldn't sustain. I understood the type of charts that were forming and the patterns that were unfolding, but I still let my emotions take over. In this instance, I didn’t follow my trading plan, and as a result, I compromised the quality of the trade. This experience is a stark reminder that sticking to a disciplined approach is crucial, and I need to ensure that emotions don't override my strategy in the future.

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