Manoj,
Looking post facto, you think that you panicked and squared off early. This line of reasoning is because the market recovered. What if the market had moved lower than your exits.?
The fact to keep in mind while trading is that we have to take a decision at a time in moment, and the future trend is uncertain.
I think if it hurts, or when one is not sure, it better to book available profit or take losses and quit. The market will always give you another opportunity to enter.
Looking post facto, you think that you panicked and squared off early. This line of reasoning is because the market recovered. What if the market had moved lower than your exits.?
The fact to keep in mind while trading is that we have to take a decision at a time in moment, and the future trend is uncertain.
I think if it hurts, or when one is not sure, it better to book available profit or take losses and quit. The market will always give you another opportunity to enter.
I made a loss of 10000 today as I was long and nf fell and in panic I squared off my position.
This happened to me 2nd time, first was son 20th April when nf made a low of 5000 and that day too I was long and squared off my position in a hurry.
So lesson learned now is not to panic and it is better to have a physical stop loss than mental stop to avoid huge losses.
One more thing when nf made a low of 5000 on 20th april after that market started drifting down and made a low of 4767
So just hoping that history repeats itself and market drifts lower and my loss is recovered, my expected target is now 5600
This happened to me 2nd time, first was son 20th April when nf made a low of 5000 and that day too I was long and squared off my position in a hurry.
So lesson learned now is not to panic and it is better to have a physical stop loss than mental stop to avoid huge losses.
One more thing when nf made a low of 5000 on 20th april after that market started drifting down and made a low of 4767
So just hoping that history repeats itself and market drifts lower and my loss is recovered, my expected target is now 5600