Pre-Market Levels - 12-Jun-2020
Winners:
No Winners today. It is a sea of red. Following are least beaten and could be a case of very cautious longs.
BRITANNIA
DR REDDY
NESTLEIND
INFRATEL
ASIAN PAINT
Losers:
TATA MOTORS
INDUSIND BANK
BAJAJ FINANCE
ONGC
EICHERMOT
On days like these, if you are not trading Longs, you can take more than 5 stocks in shorts. You will not be market neutral but perhaps such days of trends are where some money is made. Let's see what market does. Here is list of next 5 Losers:
6. AXIS BANK
7. TITAN
8. BAJAJ FIN SERV
9. ICICI BANK
10. KOTAK BANK
EOD Update:
What a day today. Every time you thin you know more than the market, it comes and bites you. At the Pre-open it was a sea of red and I was very bearish on the market. First 45-75 minutes in the market and I had to change my bias. But that is not the topic for this system review.
No Trades on any Losers that I expected to do well - TataMotors, Indusind Bank,Bajaj Finance,ONGC, EICHERMOT
If you took the cautious Longs:
Britannia, Nestle Ind Long triggered. EOD Exit at Breakeven or -0.25 R:R
No trade on DR Reddy
Infratel Long triggered. 50% profit at +2R:R, rest 50% at EOD at +3R:R - Overall +2.5 R:R
Asian Paint Long triggered. EOD Exit at +1.4 R:R
Overall - A Positive Day - That too from Longs!!!!!!
Lesson From today:
DO NOT TRY TO OVERRIDE THE SYSTEM
Today is really an example of how hard system following can be and at the same time how rewarding can it be. There is a reason that some rules were placed in the system. The only way you can build confidence in a system is by first backtesting it, then paper trading it, then small lot trading and then main capital. This process itself will grow you a lot as a trader.