"FRY-DAY" Special | 04-11-2022

What a day! Before we get to our trade, Let me tell you the "CON" of trading.

Below is the chart of bank Nifty for the entire day.

Now imagine yourself as a trader staring at the screen for some kind of opportunity. That consolidation period is 4+ hours long i.e "FRY-DAY". There are two possible outcomes in this scenario,

1. You would have taken a random trade at some random level which would have definitely hit the SL ( Because, emotions! if you have ever traded, you know what I am talking about)

2. You would have wasted 4+ hours staring at the screen with no outcome at all. A.k.a "FRUSTRATION".

What if I told you that almost all of our students managed to make money that too without being active on the Chart? ( how do I know that? because we were on a webinar on "emotion control" by having Fun Friday)

Now, below is the trade snapshot.

We traded in Nifty50. Knowing what to trade when > how to trade.

Our entry was triggered at about 12.20 pm, post which we switched off our screens by placing alerts at our target and stop loss levels. It did take us 3+ hrs to get off the trade But it made us trade with conviction, accept the risk, practise patience and keep our emotions in check.

Lesson: Trade Automation is a must skill to have. Less to screen, More to life because the money remains constant.

Time for a long weekend. See you on Monday!

Disclaimer:?This is no advice. The sole intent of this write-up is a case study and educational purposes only. Investing / Trading in the stock market involves high risk and can result into heavy losses if indulged in without proper knowledge and risk management. Please consult your financial advisors before investing/Trading. If you decide to act on any of the mentioned case studies, it shall be solely on your accord and your own responsibility.