With poor asian cues, eod in a confirmed down trend, 2 and half hour of lack of buying above the 5483 mark and then cracking of sw pivot low, nifty futures in a discount despite 50 point up move, vix at 18.5, TBQ/TSQ badly skewed towards sell side, I was inclined towards the south side.
well..i had long at 5438... didnt take that...
short at 5484... with only 3 point sl... skipped that also... as i wanted nify to show weakness...
short at 5468... skipped that... waiting for second cycle to enter short...
short at 5459 which hit sl at 5468... went to make high at 5469.90...
thought it was a fake out... entered short at 5465..sl at 5470... sl hit... made high of 5474.85... first mistake...
assumed it to be a fake... entered short at 5469..sl at 5475... that too hit sl... second mistake...
stopped trading and missed the nice long above the 5475 mark...
Its a very thin trading account and has very little body fat, just 70 points... took at hit of 28 points with 3 trades... only left with 42 more...
Morale of the story... one bad trades leads to many.... market dont care what I think... It has a plan for the day and if my trading plan dont sync with that, i'll get my lil fingers burnt... like today
Market hates excuses and punishes assumptions badly... I ended with 3 scratch trades, not a big deal... heart breaker was the fact that i second guessed the system. That's a criminal offense in this market...