Friday cannot be a dry day - as i don't drink, i drink extra chai :).
Now, Fridays are typically for options writers - the market typically doesnt move much - but we will see.
Market is still overwhelmingly positive in outlook. Nifty is above 20 MA on Daily and 1 hour timeframe and up and down on 15 mins.
Will wait at least 30 min before trading. But one key lesson from today - not matter what, trade only at 20 MA.
Decided to practice this more and so will only play in 1 lot till i get more comfortable.
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Trading Day -
1. Started the day with a call option buy but it did'nt go anywhere and eventually crashed into my SL.
2. Second trade was taken incorrectly - i was looking at something on 1 min timeframe and just took the trade by mistake - didn't cut it as once trade is taken, its taken - this one also hit SL.
3. Third trade was correctly taken - the market was reversing and when it took support at 20 MA and bounced back, trade was taken - the market though whipsawed back, ate the stop loss And started moving back in my direction :)
4. The last trade was taken when market was reversing after trade 3 and broke the lower high, thats when i took the trade, again a call option - this trade went all the way and was successful.
Closed the day with a loss of 100 odd rupees. Need to ensure i don't take any wrong trades.
But overall a good trade - followed all the rules.
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