Augubhai's notes - Smarts, Guts and Luck

[augubhai]

What a lousy day. Did the wrong thing in the wrong trades.

In the morning, MTM was down to -2.78%
1. took multiple whipsaw trades
2. did not book good profits
3. took couple of adds - both of which increased my losses

In the afternoon, i thought I had learned from my lessons
1. Started partial booking as soon as i saw strong moves
2. What could have been a +5% MTM profit, gave me only about +2%

If i only look at this day, i will learn a lot... for eg, sit tight VWAP assisted late move

But after all these lessons, i am too confused about what to do tomorrow. Partial booking or hold tight? The syllabus is just too huge.

 

[augubhai]

Today's plan: Simple trading

1. Decide direction
2. Get in early. Big qty. Tight SL
3. Trail and get out

No adds or partial booking

Adds - never been good at it. If I get in with bigger qty initially, then adds are not that needed

Partial booking - that funny thing. I planned to keep a deep T1 when position is +5% on MTM - but that gets triggered rarely. i may not have margin to maintain the extra sell. So not planning T1 for now.

Risk per trade - stepping on the gas a bit here. 0.6% of capital....

 

[augubhai]

5900PE - long at 75.25, SL 73.2

 

[augubhai]

5900PE - long at 75.25, SL 73.2

out 74.21. MTM -0.24%

 

[augubhai]

5900CE - long at 88.72, SL 87.65

 

[augubhai]

The first trade was on 6000PE, not 5900PE

 

[augubhai]

5900CE - long at 88.72, SL 87.65

out 89.22. MTM -0.06%

 

[augubhai]

6000PE - long at 74.59, SL 73.4

 

[augubhai]

6000PE - long at 74.59, SL 73.4

out at 73.72. MTM -0.39%

 

[augubhai]

5900CE - long at 90.5, SL 88.95