Bravery wins you medals, bravado gets you killed.
For so many days I was avoiding getting into a new trade while seeing the position getting worse by the day. One does not lose money by not taking a trade. On Friday, decided to take some risk and go for a PUT in BANKNIFTY as it was surely looking weak.
It opened weak, became weaker and looked like that I may be right for the first time in this month. That was not to be. Market recovered. The trade that was doing very well joined the other trades of this series.
Saturday’s one hour trading added to the misery.
NIFTY made a new all time high of 12828.70 and our trades were just an insult added to the injury.
I will wait for today’s action.
There is not much left to lose.
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.