An Irritating day at the Markets

Here in random order, is a list of few things that irritate me.

1] The sound of chalk on the blackboard. Thank god it is now a distant memory.

2] When a cockroach cuts into my lane without any warning (read autorickshaw)

3] When the car behind me honks the instant the signal turns green.

4] When Roger Federer misses the lines, specially after dominating most of the rally.

5] When Nadal makes yet another unbelievable retrieve off a shot which by rights should have been a winner.

6] When people watch an inane comedy and say it is ok for one viewing.

7] An analyst forecasting a company's profit upto the second decimal.

8] When I scoff at my wife's recommendation and it finally turns out that I should have gone with her suggestion.

But nothing can be as irritating, nothing can be nearly close to being in the same vicinity as irritating as when the Nifty moves in the direction of my trade for the first couple of hours and then inexorably moves against me. This is what the Nifty did yesterday while the rest of the Asian markets languished in the red.

As a trader, I have had enough opportunities to experience losses in my trade and I have learnt to live through it and follow the rules of my trading system. So that is what I did. Lived through another day of trading without doing anything. That reminds me someday I should talk about similarities between trading and meditation.

I remain short on the market. I will now cut my short positions and go long on the Nifty Jun Futures if it crosses 5610. Note the change from the earlier 5630. I continue to think that the market is headed lower and the market continues to confound me. The real problem is that despite the trade not hitting my stoploss my experience has been that the longer I remain in the trade without the trade really moving in my favor, the less the chances of making any money finally. Inevitably the stop is hit sometime.