Golden Rules

Few observations:

1. SLTP is dangerous if there is heavy volume activity. Even though my long directional calls are correct, a short spike closes the position with a loss. Its best to apply SLTP on a closing price basis.
2. Most stocks move based on NIFTY move. Hence, it is important to know nifty direction whenever possible. In my last up/down picks, I saw that NTPC, BHEL and BHUST moved along with NIFTY! Need to understand how to pick a stock that will beat or ignore NIFTY movement.
3. Friday afternoon is typically sell-off time. So, it is best to buy at this time. Also, it is best to close and book profits (if we have to) on thursdays.
4. NEVER go by tips. I already lost money on Aurobindo and BHEL.
5. Be clear about strategy. Re-read my strategy blog and improvise it but do not deviate from it.
6. Not sure if I should keep smaller profit targets. I would have easily made profit in BHUST if I had a 4K target instead of 7k target. I ended up making 4k loss.
7. For very long trades, I seem to be locking up money and exiting with a loss. Doing daily or weekly trades seem to be a better option to offset wrong trades with good profits. So, consider BTSTs and a max of weekly holds. Avoid monthly holds.