22-July-2024
It was a long weekend with Monday being off. At the end of it, it feels like a wasted 3 days with me being laying on sofa watching #Billions series. It was intriguing as it made me clearer how most of the hedge funds operate and why you can't beat these guys. It is all information that you don't have which is a crucial raw material. The series as I read on Wikipedia inspired from some real-life financial crime stories
Last week was also bad with losses on reckless #infosys futures trade. Infosys was rising for many weeks and TCS numbers were also good as per market veterans. Still, I went short on Infosys before the results which burnt me. The loss could have been bigger as ADR was trading 8% up after the results but next day it remained limited to less than 3% on Indian markets. This was a trade on long with cover, but I did the opposite reflect a fundamental weakness in my emotions and how to react to data which was clear. Ideally, I should have gone long or no trade.
My thinking of it that it already ran too much for a short wasn't great. I did it many times and every time got burned. I was trying to keep it sane with only equity or covered calls, or perfectly hedged trades. I also broke this rule and thus, rightly punished.
Lately, my determination in every theme is not that strong, be it daily walks or workouts or following trading rules and everything I thought I will do but then passed it or didn't follow with the same zeal. I need to work on that, just that I am not sure how to pull it back and strong.
There is a need to reconstruct myself before even I target a goal to accomplish. My top boss posted something I liked and could related to on the "LINE" group chat.
I copied, wrote and pasted it on my home desk so that I can read it every day to follow. There are tons of things to do, and you need the right motivation, determination and knowledge. Probably, it will help something.
vA
