Thursday, December 1, 2011

Option Trade Book November 30, 2011

Today was a learning day to us. We were not able to catch the market sentiment at around 10:30 when it was started above 20 EMA (actually I missed the GDP data report) and hence waited to come down 20EMA and jump into the market quite early. I should have been waited till 4860 (previous day resistance) or 4850.

The alert generated was false or I read it incorrect as it did not break the 20EMA with confidence. So I should have waited for some more time.

Though I got a chance to give a Put buying opportunity at 4850 but I was not feeling good about my first trade and hence it was better to keep myself away from it.

I have learned trading this way only, and advise all you to avoid if you make incorrect decision at the beginning.

Our trade book recorded it's first loss today, but no worries, it's all fare and no one can escape this. It remind us all that market is supreme.

Tomorrow our market will surely open at around 4900 or above it. So it will a tricky situation. I will advise to wait till confirmation of further move, or stay away from it. Market will give opportunity, so please do not jump in it.

You may ask for any suggestion/clarification/advise during market hours, I will try to answer ASAP, or give me any input to make this platform more useful for all. If I would have got the news of our GDP data at around 10:30 or 11:00, I would not have initiated any put advise today.
My call history: Day 1, Day 2, Day 3, Day 4,Golden rule

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