Augubhai's notes - Smarts, Guts and Luck

[augubhai]

5800PE - long at 64.4, SL 62.4

 

[augubhai]

5800PE - long at 64.4, SL 62.4

out at 62.25

MTM -3.52%

 

[augubhai]

again 5800PE - long at 65, SL 63.45

 

[augubhai]

again 5800PE - long at 65, SL 63.45

out at 65.61

MTM -3.35%

 

[augubhai]

wasted a one-way day

got the entries all right - nothing simpler than entry on break of day low. I am also ok with the tight SL. Tight SL give me the opportunity to increase position size

Now, need a way to handle trailing stop and profit booking. On at least 2 trades (or maybe 3), I was +2% MTM, but did not book hoping for little more... Booking those would have got me atleast to breakeven.

 

[Jeareh]

Do we need SL when we are before terminal?
Hope not beginners.

 

[augubhai]

Do we need SL when we are before terminal?
Hope not beginners.

For liquid scrips, I suggest that you keep a hard SL all the time - whether you are before the terminal or not.

For illiquid scrips, I really have no clue, but i would lean towards keeping a hard SL....

 

[augubhai]

New day. No plans on how to trade it. Will watch the market and decide.
Keeping the mind blank for now... (Not that there is much on my mind anyway )

 

[augubhai]

5800PE - long at 56.05, SL 54.9

 

[augubhai]

5800PE - long at 56.05, SL 54.9

out at 54.68

long again at 56.22, SL 55.1