20151124 - Another Bakwaas Day

That's Strike II. 4 trades with only one small winner. This time it's a loss on both gross and net basis.

Trade 1 was a long one (duration-wise). I was in that trade for 2 hours and 18 minutes. MFE for the trade was only 13 points, and I booked a loss of 7 points on it. A good data point to add to the Holding Period Analysis that I had done last Wednesday. Another way to look at it is that I was lucky to be in that trade during that sideways zone. If not, I would have probably entered multiple losing trades during that same sideways period. ☺

Trade 3 went into profit with a sudden fall, and reversed just as quickly. Out of a MFE 41, I booked 24 points. That's better than the 50% booking rule that I had at the start of this series.

Also, completed 50th trade of this series today. Statistics available on my Trading Stats page.

NIFTY M3 Candlestick Chart

NIFTY M15 Candlestick Chart