How to do Trade Management What defines your success as a trader is how you manage your losing trade. I was bearish on Reliance as per view in previous tweet and shorted it at 1052 but RIL started going up (1)
I kept at Buy SL in 1100 CE at 89 to hedge the upside. As soon as 1100 buy got trigerred, I sold 1000 PE The payoff looked like this (2)
But RIL kept going up so I sold additional 1000 PE to make it no loss strategy on the upside. My view was bearish but due to trade management there was no loss on the upside now (3)
But RIL again started coming so I exited my future at cost and sold 1100 CE to convert into a slight negative skewed and brought downside protection at close to convert my postion to this. See the breakeven 880 to 1220 That’s how I manage my trades (End) #trade #management
@sourabhsiso19 Nice moves man. But can this stuff be automated like the simple strategies?
@netineti23 Yes possible