Nifty attempted 7950 in the morning and failed. Then the fall started. Mid-morning Chinese markets hit circuit limits and scared Nifty into a fall.
I followed the same rules as on Friday - entries only on Breakout Failures and Pullbacks of Round Numbers. The Shanghai Composite scare helped the first short trade into profit. My Stop Loss trailing rules remain mechanical. The trailing SL of the first trade 'unfortunately' triggered, and that did it. The first trade was followed by 3 losses. If the trailing SL had not hit at that point in the first trade,the mechanical trading rules would have captured the remainder of the fall. It was an easy downtrend day for someone trading sensibly, but I bound myself by my rules.
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