Keep Posting your experience and learning process.This thread is useful for many of the future trading aspirants(including me too).
Happy Trading Morkeus.
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Happy Trading Morkeus.
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Hope you don't mind if i post my experience here too.
Tuesday was my 1st trading day. Traded 1 lot of Minifty twice.
Since i didn't have futures charts, i relied on GF spot chart and added the premium to it.
Trade 1: Shorted @5326.70.
SL hit @5350
Trade 2: Buy @5381.65
This time i thought SL in 1st trade was too tight. So decided to have some flexibility. So kept only a mental SL and didn't place an SL order.
But the flexibility hurt.
Finally sold @5345
Total loss from 2 trades: 59.95 points
Hindsight Revelations: Got carried away by price action. All strategies planned before trading went into the dustbin.
I realize now what they mean by beginner's mistakes.
Also, it wasn't a good idea probably to trade futures with spot charts.
Since, there's no good free source for futures charts, i have now subscribed to icharts. Will trade on Friday with help of futures charts from icharts. Lets see if it makes a difference.
Would like to hear experience of u guys too.
Happy Trading,
Akash.