Where is my mistake?

ron2007 · #1 22nd June 2007, 07:56 PM

I bought Rel Energy @ 514 one month back.

After waiting for long time ….

I sold it @540 yesterday …,

Today it closed @590…..

If only I knew that it will reach at that level…..

Can you seniors point out my mistake……

I don’t know when ever I sell a stock it goes up the other day……

How to analyse??

smartrader · #2 22nd June 2007, 08:55 PM

Same problem here. I sold Rolta for 425 on 19th. couple of days later it was quoted at 475.
On the lighter side we could post here whenever we are selling so that others can buy at that level.

brgds/ smartrader

kedaar · #3 22nd June 2007, 10:39 PM

Dont worry dear you are not the only one.

Same thing happens with me also.
IDFC sold @ 120/ yesterday and now see today 126.

We need more patience. (at list 2 days of more) ;-)

Linus · #4 22nd June 2007, 10:45 PM

Quote:

Originally Posted by ron2007

I bought Rel Energy @ 514 one month back.

After waiting for long time ….

I sold it @540 yesterday …,

Today it closed @590…..

If only I knew that it will reach at that level…..

Can you seniors point out my mistake……

I don’t know when ever I sell a stock it goes up the other day……

How to analyse??

Hi, Please see the chart attached. Congrats! You have done nothing wrong. There was overhead resistance after your entry. You could have got out along with the earlier buyers, who sold as soon as they saw their price approaching. If I were you, I would have entered after the breakout and kept my stops in the region around the breakout point. The other way is to see prices climb, and wait for a throwback to the breakout point and then buy. This strategy is a bit difficult. Of course, it is very easy to say after the event has happened, but do keep mental stops, before you enter. Saves time and money!

ss

amitt29 · #5 23rd June 2007, 02:55 AM

Simple Advice,always take money off the table and try to sleep well over whatever little profit or loss you make.

Think like this,u saw later that it moved up,and thats in hindsight.

Again i will repeat,Always take the money off the table.

Warm Regards
Amit.

swagat86 · #6 23rd June 2007, 07:11 AM

Quote:

Originally Posted by ron2007

I bought Rel Energy @ 514 one month back.

After waiting for long time ….

I sold it @540 yesterday …,

Today it closed @590…..

If only I knew that it will reach at that level…..

Can you seniors point out my mistake……

I don’t know when ever I sell a stock it goes up the other day……

How to analyse??

There is an old saying in stock markets- Either dont come or dont regret. Never regret wat uv done. Learn from it.

Naya gilli naya Dao

rajesh.sadhanala · #7 23rd June 2007, 09:11 AM

Quote:

Originally Posted by sunil saranjame

Hi, Please see the chart attached. Congrats! You have done nothing wrong. There was overhead resistance after your entry. You could have got out along with the earlier buyers, who sold as soon as they saw their price approaching. If I were you, I would have entered after the breakout and kept my stops in the region around the breakout point. The other way is to see prices climb, and wait for a throwback to the breakout point and then buy. This strategy is a bit difficult. Of course, it is very easy to say after the event has happened, but do keep mental stops, before you enter. Saves time and money!

ss

I really doubt about your saying those who bought in feb will sell in mid-may. You cannot simply conclude that peoplem will wait till next level of rise because people get out on early stops and trade in somwhere else.

To me, the way you explained in the chart doesn't look correct.

Regards
Raj

rajesh.sadhanala · #8 23rd June 2007, 09:14 AM

Quote:

Originally Posted by ron2007

I bought Rel Energy @ 514 one month back.

After waiting for long time ….

I sold it @540 yesterday …,

Today it closed @590…..

If only I knew that it will reach at that level…..

Can you seniors point out my mistake……

I don’t know when ever I sell a stock it goes up the other day……

How to analyse??

When you want to really benefit the entire trend then you need to follow the trailing stop loss method. But in this method if your trend is small then u will not make maximum profit.

In your case your trailing SL is 530 for example then there is a chance that SL will be hit and u may sell at 530 even but if the trend continues then u can ride till your trailing SL hits

Regards
Raj

uasish · #9 23rd June 2007, 09:35 AM

Whenever i buy it falls & whenever i sell it rise,is a global phenemenon each & all Traders face this.
This ,once again proves Exit is More Difficult than Entry (particularly in roaring bull mkt),we like a fool spend more time sharpening our Entry,however ppl have tried to adress this by 'Trailing Stop'.
Once my Tgt acvd. i must not look back & lament ,becoz everyday there is new day / new oppurtunity.
Procrastination may cloud my mind,once my Exit method is backtested & gets an accepted stamp from me ,i have to look forward only.

akhtarar · #10 23rd June 2007, 02:06 PM

Quote:

Originally Posted by amitt29

Simple Advice,always take money off the table and try to sleep well over whatever little profit or loss you make.

Think like this,u saw later that it moved up,and thats in hindsight.

Again i will repeat,Always take the money off the table.

Warm Regards
Amit.

very sound advice . further not to be greedy . people make mistakes once greed in mind sets in .

i sold unitech at 200 about 9 months back and today it is 500 . so what . it might have come down to 100 or 150 who knows .

people be patient and content in stock market .

don't spoil your helths just bcoz price gone up .

i sold part quantity of bses at 548 and other part at 590

bye guys

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