Thread: How I managed my losing trade to end in profit ? Today was a difficult day for most traders as market opened with a 3%gap up & fell after that and again rallied in the 2nd half. In this thread, I will be sharing my detailed trade management for today. #trading
1) I had carried overnight 20 lots sell of 8400 PE sell & 9500 CE sell -1500 8400 PE at 110 -1500 9500 CE at 114 Net Credit was 224 point In the morn. it was around 265 points due to gap up MTM - 60 K at 9:20 am
2) Waited for 15 mins & plan was to go long abv 1st 15 min high to defend the position( Gap Strategy) But market broke 15 min low & losses started to narrow. At around 11 am ,the trade was at breakeven :)
3) At 11:15 am, Markets were not going anywhere so as per my intraday theta eating strategy sold 8800 and 8900 -750 8800 PE at 147 -750 8900 PE at 159 in same qty as 9500 CE as view was neutral And booked profit in overnight 8400 PE at 79
4) 15 mins later at 11:30 am, Market hit new day low so sold additional 9400 CE at 200 as I was slight bearish as per my systems Current position was : -750 8800 PE 147 -750 8900 PE 159 -1500 9400 CE at 200 -1500 9500 CE (Overnight position)
5) Market were falling and my 9400 CE was at 165. I was in 20K profit :) As I had short positions, I Kept buy sl on 9400 CE at 196 ( Above 20 MA in 5 min chart ) The SL got got triggered at 2:20 pm when markets rallied.
6) As per my intraday system, my stance changed to bullish & was expecting a short covering rally I sold 9000 PE & 9100 PE (kept pyramding) Open position now : -1500 9000 PE at 198 -1500 9100 PE at 194 -750 8800 PE at 147 -750 8900 PE 159 -1500 9500 CE (overnight)
7) At 3 pm, I was in 1 L + profit. As rally seemed strong, I bought 9300 CE +3000 qty (pyramiding) with a 20 point SL as I had profit cushion of additional sold PE. I take risk only when I have a profit cushion. “ Be aggressive when on winning streak & defensive if losing”
8) 3:15 pm (Time to close intraday shop) I don’t take any signals after 3:15 pm Booked profits in 8800 PE at 106 8900 PE at 128 9000 PE at 167
9) Rest Carried for monday -1500 9100 PE +3000 9300 CE -1500 9500 CE That’s how I managed my trades without being emotional after morning loss and just doing what market is saying. Just follow your systems & manage your risk !! That’s the only way to successful trading End !
