In the month of April there were 19 trading days till April 26, the Expiry day.
NIFTY moved up on 15 of these days. A very positive month.
We had made a total of 12 selections. BUY –3 SELL –9.
With NIFTY moving up by more than 500 points and majority of the trades on SELL side initially there was a setback.
I have stated many times that let us put faith in the selection method and then let market do the rest. All the talk about targets for PROFIT is just talk. Let the market decide your profit. Your focus should be on managing the loss.
This theme will continue in next series too.
Here is the review of the performance by the selections:
BUY SELECTIONS :
3 Selections 3 Right. It was expected as the markets had moved up.
Profit from 3 trades- Rs. 108750.
SELL SELECTIONS :
We had 9 selections for SELL.
6 out of 9 went wrong. The 3 that went well actually made more profit than the 3 trades on the BUY side.
Overall, there was a small profit of Rs. 6226.
Not bad considering we are wrong about the market direction.
Total Trades — 12
Right — 6
Profit — Rs. 114976.
The profit is a result of Selection Process, Patience, Belief and Trusting the market for your profits.
It is not the number of trades which counts but the profit from the right trades.
April series has been a good learning experience and I hope and believe that along with the March series, the readers will now start to believe that there are no secrets to stock selection for trading.
You can do it as good as any expert.
We move on to May Expiry contracts.
May Expiry :
Our selections were posted yesterday.
I will repeat them here:
SELL SELECTIONS :
We start with a list of 6. More will be added as the month goes on.
Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.