10-Oct-2012: A loosing day, though i managed to trade two in total loss of one .
First, Short trade got screwed in Open Auction. 14 point profit in 17 point range evaporated and i could not decide of what to do. Happens....i think from my far past memory there are several occasions where open outside range had gone the similar. Second, Long trade was not upto even plan, and reason behind this were also poor. Had the trade worked, still would be unjustified. What most i could do, to stay away after first trade on sign of open auction....but this came in vision too late.
I like to compare this day with similar day 8-Oct, just one day back. Interestingly sequence , locations and nature of trades taken on both day were same. What both longs had commons,
1) Both were counter trend on 15-min.
2) Both didn't worked.
3) Both were induced by local , short term structure.
4) Risk was low, but probability of success was also low.
Not trading today. Just some work here n there in home.
Though thought to explore comparison between BankNifty Future and NF @Bharatiya
From this first pic...my natural thought was BNF is leading in upward direction NF by making 1-2-3 over double bottom...though this is half glass filled and half empty type comparison.
but sure its better trending than NF. Will post more pic as they evolve.
Though if i ever trade BNF...it will be only in isolation. No paring...just for a feeling of bias from other side. I am little concern about its spread , i dont know how it behaves. A point comparison is attractive in BNF..NF crouched just 20 points and BNF barked 60 point in that run...Right now NF seems leading upward than BNF...a sign of broader upbias.
I will check latter if its really marched.
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