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What Should I Do Please Help Me |
harmitrocks
White Belt
Joined: 08 Mar 2009
Posts: 8
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Post: #1  Posted: Mon Aug 02, 2010 8:29 pm Post subject: WHAT SHOULD I DO PLEASE HELP ME |
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| I am short in banknifty @10250 what should i do |
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pradeepgolfer
White Belt
Joined: 16 Sep 2009
Posts: 212
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| Post: #2 Posted: Tue Aug 03, 2010 4:42 am Post subject: |
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Dear Harmit
I do not know the reason why you went short-once that reason is no longer valid you should cut/cover/buy back your position.
However you have shorted the strongest sector in the entire market.Bank nifty is outperforming the nifty and is only 5% from breaking into all time high.
The trend is up and countertrend trades should be executed by only the most experienced traders and mostly for a scalp.If your timing is even a little off, you run the risk of the trend reasserting itself and you will get mauled or killed.
This trade should be covered immediately-one mistake is acceptable.Do not continue to make a series of mistakes or hope for a fall.
Please learn from your mistake and if you should short,short something which is underperforming. |
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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| Post: #3 Posted: Tue Aug 03, 2010 8:38 am Post subject: |
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| pradeepgolfer wrote: | Dear Harmit
I do not know the reason why you went short-once that reason is no longer valid you should cut/cover/buy back your position.
However you have shorted the strongest sector in the entire market.Bank nifty is outperforming the nifty and is only 5% from breaking into all time high.
The trend is up and countertrend trades should be executed by only the most experienced traders and mostly for a scalp.If your timing is even a little off, you run the risk of the trend reasserting itself and you will get mauled or killed.
This trade should be covered immediately-one mistake is acceptable.Do not continue to make a series of mistakes or hope for a fall.
Please learn from your mistake and if you should short,short something which is underperforming. |
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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| Post: #4 Posted: Tue Aug 03, 2010 8:41 am Post subject: |
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harmit if we take wrong position dont worry if are realising that u made a mistake.... we have all our life to trade infront of us.....  |
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