Nifty Futures Trading

Last Candel bein Doji Star hence dumped entire @ 4406.

A 10 points gain.

My day's job over will return at 2.30.

ho asish , from morning 10 point gain ? , I mean you stop once you reach certain points is it ?

Hello friends, sharing my fears my greed and my indiscreation....

As u all know I do day trading only....I exit at 3.25 or earleir whatever i have in hand.

I do not take a fresh position after 3.00

At 2.45 I was long, at 2.55 I got a short signal, I exited all longs!!!
Made an error : I was all through trading 4 lots but started trading 5 lots,squared 4 lots only. At nearing the close my friend, also my broker pointed it out....
The price had shot up and my greed overcame me : I asked him to hold it!!!
So i was long in one lot nifty at close yesterday.
Seeing the Us mkt,. i sent a pm and a mail to rkk, we admonished me for my indiscreation and said, the loss would be worth it, if i learn a lesson and do not repeat it in future as it was just one lot, he said God was kind on you!!! He advised me to hold it with 10 AM bars low as SL with he said to trade only that lot tomorrow i.e today..... He also advised to limit the trade size lower on big gap moves becoz in this set up of trade we were looking to gain just 12 points to start with and we may not get time for fast in and out, and more so vecoz i was still new!!!!

Today market opened with a gap down, 10 am bar low was 4380, mkt started rising. In kolkata ind. I got a buy at 10.15 above 4408.70.... I wanted to make up my losses in overnight position, i went long in 4 lots more total 5 lots!!!! To start with in my anxiety I read the chart wrong!! The signal wasnt there till then as per rules!!!! (DID NOT FOLLOW THE RULE : WHEN IN DOUBT READ THE WRITTEN RULES!!)

At 10.45 the candle closed inside, the long trade was void!!! THe new signal i got was to go long above 4414 at 10.50, it did not trigger!!!

I was still holding 5 lots long (1+4) and then i got a signal to short 4393, i shorted 10 lots (net 5 short) booked BIG loss in the long position of yesterday and 4 longs taken today.
After the short got triggered the price started to move up...i was nervous!!! (Frankly never was i so nervous even on my first day of on line trade). I was to reverse to long above high of 11.10 AM bar!!! In my anxiety I went long even before the bar was completed!!! Had I waited I would not have gone long as the high of this bar plus filter was not triggered. My short of 4493 went down upto ~4375... but i had in between taken a long trade and stopped and then a short trade, which did give some profit!!!
Then went long and got some profit.... but all in all have lost entire profit of June plus some more!!!! All due to KOLKATAA MEET INDICATOR!!!!
MOST CERTAINLY NOT , the error was 1000% mine!!!!! My greed, my indiscreation,my indiscipline!!!! My anxiety!!! My nervousness!!! My not heeding to advise!!!

Freinds i made a mistake , a blunder , should have exited my long yesterday when it was pointed out to me!!!
I was advised not to compound my mistake!!! But in my greed to recover losses resulted in much more. I traded fully today though i was anxious!!! A calm mind is as required as the regular price movement to day trade!!!

Just wanted to get the entire thing out of my system hence posted it here!!! Also this writing may also help me be better in future!!!

Regards

Gautam

Oho....Gautam,lemme assure u that if these things don't happen to u,u will not become a robust trader and a confession that the indiscipline and faults happen to me as like most of us here.
U r in d very right direction,carry on trading.Nothing to worry.A very smart trader in d making....congrats to u and rkk.
Best wishes.

Gautam,

It was a gr8 exp from which everybody can learn.... appreciate ur post..

Sats

@gkpc , hmm .. some things in the learning . Thanks for sharing btw .

Acknowledging one's indiscretion by self is a great virtue. You have it and you are in right path.

painfull
but u have the edge to overcome it
as a day trader i learnt also from this lesson
best of luck
regards