After this trade I kept quite and waited for a month & a half for the trade to take off. It was a good trade and at one point I was able to saw profits of more than Rs.1.90 lakhs which is almost 50% return on capital deployed but dream run didn’t last longer and profits dipped to as low as Rs.1.10 lakhs.
This is where the psychology comes in. My mind was not trained to handle the volatility and I ended up booking 1.36 lakhs of profit although I originally planned not to exit a running trade and as per my set up also no sell signal was generated. At today’s rate of NMDC and given my 3500 quantity my profit would be more than 3.60 lakhs and still running.
So morale of the story is that one should train one’s mind to handle the volatility otherwise there’s not much money for the weak hearted in this business.