The past few days we were anlysing market.(pre-study) The various data has been analysed that includes the 12 banks-the components of banknifty. Today morning ,we gave a pre-market opening call to all our paid clients that the market is going to open in gap up and claim up to the new high at the end.(Banknifty).That become true today.But we have seen small whip saw's here and there and gave a sell call in between..and we succeded in one(Gained 40 points) and failed in one(loss of 15 points).Why we have done against our prediction? Many traders were in utter confussion about the direction of the market,but we have predicted accurately and applied our knowledge wrongly.That was happen today.
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While the market was coming down we predicted the market is going to bounce back to the new high about 100+ points.When banknifty was in 9600 level we asked all our clients to place buy order at 9555.00 Level and it did'nt happen...Since the market was down upto 9590.00 level and bounced up to 9698.00 Level.We just missed out 100 points profits in one stroke...This is what called , the application error.it is a kind of over-confidence about our prediction and we expected the market will fallow us!! How funny it was..The market today thought us one more lesson that:-
."How much you know is not important;but how,When and where you need to apply your skill in action for success is more important."
This is what Sri krishna say's in Bhavat Geetha "Skill In Action" in karma yoga chapter.
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After all we all are also a learner and the learning never ends.The whole of human life is not enough..Right from birth to death the learning happens.Who know's even the beyond one may continue..Learning.
.Why am i sharing this with my readers?
..because sharing is also caring,any one who may happen to read this can afford to learn a leasson without paying in actual trading..if one trades and loose money is bad...So,it is better to learn before venturing into action.We have learned so much after loosing lots of money and now we have come up with that lessons learned by experience.May be today the level of our accuracy in prediction is gone up because of that learning.
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