Saw a bounce back in suzlon .. bought it at 101.8 with stoploss at 100.5 . the market went down till 100.25 before bouncing
back and triggered the stoploss.
I panicked and put an opposite position to cover the losses when it came back to 101.8, but this time the bounce back really happened and it went upto 106, again hitting the stoploss of 103.3.
So basically even though we had bet rightly about the movement of the stock, the volatility made both the bets sour
6 replies on “Trading: It was a dog’s day”
care to make us understand in simple language?
i bought suzlon in anticipation that it will go up, but it went down.. and in order to cut losses i had to short it. Then I shorted the share because I thought it will go down further…. but it increased causing me a further loss.
dude this is the classic trap tactic some big players use
happened with me in infy once a long time ago ,
these are wild times …
i guess if u have enough money and if you find an illiquid stock, then sky is the limit of what one can do.
today i read about how easy it was to rig oil up by 2$50, when a rogue trader put a huge amo, and all the automated systems etc latched on.
btw I made some money by shorting 200 nifty today morning.
however i panicked on my RIL positions when the raising of MAT news was announced and ended up squaring at the least possible price.