Thursday, March 10, 2016

Clueless trading - Day Trading: Mar 10, Intraday

Trade 1: Breakout Pullback of Yesterday's Close.... Hahaha. When it went down to 7450.10, but did not touch 7450, it confused me. I could not decided whether to book, or keep a wide Stop Loss... so finally I compromised and trailed the Stop Loss to somewhere in the middle.

Trade 2 & 3: Range Compression after Failure to Continue to 7450. I could have avoided both these trades if I had kept a wider Stop for Trade 1.

Trade 4: Breakout Pullback of 7450.

Trade 5: Breakout Failure of 7450. When it breached 7500, it was a good opportunity to reverse, but I kept the Trailing Stop Loss wide. Reason 1: I already had too many losses in the previous trades. Reason 2: I thought the Momentum would continue after a Pullback.

Nifty M3 Candlestick Chart

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