20151217 - Stayed out of the Chop... Missed the Fluid

Just one of those days.... that seems to happen to me daily. I got excuses for everything...

Day started off with a BOF of 7800. I thought about taking it, but then decided to wait. Then I watched it making lower highs.

Trade 1 was a long on BOF of 7750. Price chopped around, but I managed to stay out of the chop. As market broke out of chop, I anticipated that it would come back in range and shorted (Trade 2). It was a wrong guess, so I reversed to long again (Trade 3). I tightened the Stop just to allow the market to take it (actually, I didn't want a bigger loss). My SL was 7768.50, and price dipped to EXACTLY that before zooming up.

I watched it zoom, but I was not done yet. There was an inside bar at the morning high 7810, and I tried to short it. Luckily, the trade missed me :) It would have been a good pullback trade, if I had thought long.

The last trade was done hoping that the market had run out of steam, as happens on some days towards the end of day. I had no clue about why price zoomed up, until the EOD, I looked up the news to find that it's something to do with yesterday's Fed rate hike, that Indian markets didn't know what to do about until the European markets started moving.

Today, I went a step ahead, and broadcast my trades even before taking them. Whether I am doing good at my trading or not, I am doing better at broadcasting it. All my live tweets are on the Twitter widget on the right pane of the web page. Have a look...

Here's a zoomed-in image of the whipsaw, that is not clear on the chart above.