Insights
Notes from the desk,
not calls on the market.
Written to explain how we think, not to tell anyone what to buy. Nothing here is a recommendation, and no position mentioned should be taken as one. If a piece changes your mind about something, it has done its job.
Why gold ignored the rate cut
The MCX contract moved opposite to what most desks expected. The explanation was sitting in the rupee the whole time, not in the statement everyone was reading.
Read → CurrencyUSD/INR and the session trap
A pair that trades around the clock is not a pair you should trade around the clock. Where the liquidity sits, and what happens to spreads when it leaves.
Read → RiskThe arithmetic of recovery
A 50% loss requires a 100% gain to undo. Most people know this and size their positions as though they do not. The gap between knowing and acting is where accounts die.
Read → EquitiesResult day is not a trading opportunity
Earnings announcements offer the illusion of an edge and the reality of a coin flip with wider spreads. Why the desk sits out the days everyone else waits for.
Read → CommoditiesThe rollover nobody budgets for
Contract expiry is a known date and still surprises people every month. What rollover actually costs on an MCX position, and how to plan for it rather than react.
Read → RiskWhat a trading journal should record
Most journals log the entry, the exit and the profit — exactly the information that teaches you nothing. The field that matters is the one almost nobody fills in.
Read → EquitiesLiquidity is a risk setting, not a detail
The stock you cannot exit at your stop does not have your stop. Screening for volume before conviction, and why the mid-cap that moved 40% was never tradeable.
Read → RiskAveraging down, and the reason it feels right
Adding to a loser converts a small mistake into a large one while feeling like conviction. The thing to check is whether the original reason still holds.
Read →The monthly note
One piece a month. No calls, no tips, no forwarding your address anywhere.
What the desk noticed, what it got wrong, and one idea worth thinking about. Unsubscribe in a click. We do not sell, share or rent the list, and we send nothing you did not ask for.