august 13 trade - down by 1%

the market is still open but i have exited.
made a loss of about 1%. The banks did go down and no points for guessing that. Maybe they will go down further. But unfortunatley the signals i have decided to take as indicators for buy/sell, the change in open interest of options, were not favorable. To be honest they were not favorable even when i took a position, but my lack of discpline has caused me this loss.

I had shorted hdfcbank, icicibank and sbi.

Fortunately did not use a lot of leaverage, only 1.5. Otherwise high leverage or trading in options would have wiped out my yesterdays 11% gain.

Aug 13, 2008

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