Summary of all positions/trades executed / Closure for March 2022!
Here is a quick summary of trades I executed in the last couple of weeks.
Out of six trades, two ended in a loss, and four at profits → net results ended in profits.
Mistakes & Lessons Learned:
ONGC → When the stock broke out by 10%, I must have closed the position; however, due to my health, I did not check the position for a day or two, and thus, stop-loss triggered. Therefore, two important lessons are:
A Stop-loss is a must for every positional trade
When the target is achieved, exit the position → do not let the greed take over, hoping for higher profits.
Trading is all about “hit & run” with the profits. It is a rigid mindset, and only practice can assist in sticking to the trading plan. One should never attempt to trade stocks with an investing philosophy.
Another essential aspect of trading is maintaining a trade log where one should record all the trades and reasoning along with lessons learned. A trading log shall be a ready reckoned reference for all future trades, which will help a trader become a sniper (sharpshooter) than a machine gunner.
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I hope you liked the trades and explanation. Do share your thoughts on this trading strategy or any advanced techniques. Every week, I will update my trading log and post it in subsequent updates.
Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.
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