Feeling a bit constrained by trading only one stock. However this experiment which ended today imparted many lessons:
- It is possible to sync with a stock by trading just that one. This is like a subconscious 'feel'
- It is a challenge to stick to one stock
- More challenging (and important) is to stick to one strategy. And unless one keeps to one strategy, no real study can be done.
- The dangers of over-trading were revealed. A daily cap on the number of trades is necessary.
- It'd be ideal to take up various aspects of trading one by one and practice them for definite periods and note the effects- like keeping records, reviewing a trade, stop loss, risk reward, money management etc.
- Other traders' inputs are very valuable because they are not attached to your trade, and have more experience; but think and take your own decision.
- It made me rethink my entire approach.
- Trading in minimum quantity is enough to learn the strategy. However, to acquire the habit of money management, one needs more quantity.
- It was seen that if the stock opens and moves towards a Gann level (1 min chart), it will usually go past it and hit the next one as well. This happens generally within the first 45-50 minutes. Not sure if other stocks also behave like this.
- This stock seemed to range for most of the past month.
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