The weekend is over. It is Monday again.
Last week flattered to deceive. Market went down initially and then recovered. That made our PUTS go the wrong way.
We are into 5 PUT trades and this is our position.
After the big loss in August this is not a happy situation to be in. But we can only take a trade based on the selection process. After that it is for the market to decide whether it was right or wrong.
Trades have gone wrong but all are within striking distance of becoming right. Two days of volatile move in the right direction can turn the tables for us and we look for that.
If our market takes it cue from other markets, it should move down few points today. But recently all the cues are just being ignored.
So we wait and watch today and do not take any new trades.
This week has a holiday on September 13 for Ganesha Chaturthi so we get 4 trading days.
Trade profitably, trade cautiously.
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.