Tuesday, April 3, 2018

Managed it better today :)

I looked again at the rules of the Range Compression Trading System that I had followed in Q1 2016. There were 2 rules:
  1. Say NO to small profits, Say NO to big losses.
  2. Be the Hunted
Rule No. 1 has changed. With the lesson about trailing sooner, I now even take small profits, though I try to stay on for bigger profits.

Rule No. 2 stays pretty much the same. It was not like that on Monday, when I tried to hunt - trailed more aggressively - resulting in overtrading and losses. Today, I tried to remain the hunted instead of trying to be the hunter. The stupidity index of today's trades appears to be much lower than that of Monday's trades. Even trade 5, which I thought would look stupid, does not look too very bad on the chart.

Nifty M3 Price Action Chart
Nifty M3 Price Action Chart

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