One of the hardest expiries I traded. Ending the day with a 0.4% Loss
Unfortunately I exited the 22500 SS a little early, or otherwise would have been a fantastic day.
Have made the full video, will be posting soon
Spent every night studying swing trades taken by
@iManasArora
- Learnt to manage trades like a pro
- Building an eye for clean setups
- Learn to ADAPT
For a complete Setup book, check the full thread.
In this edition of It’s the economy, stupid, a simplified version of @IndiaDataHub’s This Week In Data, we review the following:
- RBI’s monetary policy meeting
- Consumer confidence survey
- Deflation in China
A🧵
After the Chinese loan apps scam, the latest scam from actors in China and other Asian countries is phishing websites. Fraudsters are creating hundreds of websites and trading apps that look similar to the websites of Indian brokers.
Unwitting users who click on the app download links, etc., will be prompted to download the fake app. The goal is to get people to transfer money by taking advantage of their familiarity with these apps.
This is just another one of the hundreds of international scams that have exploded in the last few years. In this case, a few tips I shared earlier to protect yourself from scams also apply. Check the link in the reply.
Summary of NIFTY: 07.02.2024 (Wednesday)⏬
⛳️As expected, Market opened Gap-Up above 22000 but couldn't sustain again. After 1st Hour, NIFTY witnessed volatile session due to profit booking in IT shares.
📌NIFTY closed at previous level with formation of Red candle; VIX down -1.7%.
🚀Sectors gained: Bank, Metal, Realty, Media, FMCG, Energy and Pharma; 📉Losers: IT
Stay tuned...
Plz like❤️& Share!!!
#stocks #banknifty #options #stockmarketnews #banknifty #Paytm #zerodha #NIFTYIT
Have you defined your strategy for the upcoming Budget?
If not you can check out our video on Budget 2024 strategy and look for insights to build you own strategy.
https://t.co/RVNQqDRcPj
Confirmation bias in trading can significantly impact decision-making and cause big losses.
Here is confirmation bias affects your decision making
1. Selective Information Processing: Traders with confirmation bias tend to seek, interpret, and remember information that confirms their beliefs. For example, if a trader believes a stock will rise, they may focus only on positive news and ignore negative news.
2. Overconfidence: Confirmation bias can lead to overconfidence. Traders might become overly sure of their view, underestimating the risks involved and overestimating the probability of success.
3. Resistance to New Information: Traders might dismiss new information that contradicts their existing views. This resistance can prevent them from making timely changes to their trades.
4. Echo Chambers: Social media and online forums can increase confirmation bias. Traders may surround themselves with ideas supporting their views, creating an echo chamber strengthens their biased beliefs.
5. Emotional Trading: Confirmation bias is often driven by emotions rather than rational analysis. Emotional trading can lead to impulsive decisions, like holding onto losing positions for too long or selling winners too early.
6. Repeated Patterns of Failure: Traders might repeat the same mistakes, attributing successes to their skill while blaming external factors for failures.
7. Market Misinterpretation: Confirmation bias can lead to a skewed interpretation of market trends. Traders might interpret market data in a way that justifies their view, even when the market is signaling a different direction.
8. Impact on Risk Management: Effective risk management requires an objective assessment of losses. Confirmation bias can lead traders to underestimate risks and causing a big loss
Sensibull is running a series of short video interviews about Aam Aadmi and their trading mistakes. The idea is to learn from the mistakes of regular people like us and stop making those mistakes. Here is a thread summarizing all the episodes so far 🧵