was at 10k , greed
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Yes today itself learned that, loss can be recovered if we donāt hurry & are calm.
Morning in just 1 min of entering a trade in BPCL I hit SL (10%) which was random as it was BO. Learning so capital only 1000/-
Then few seconds there was a rage in me, as I was trading since last 3 days in BPCL & first day 16% loss, second day 12% loss yesterday there came the move which could have recovered all loss, but I missed itā¦
And today in just 1 min 10% lossā¦ But the next moment I became aware of the anger in me. Could calm my mind, then traded properly rest of the day, recovered todayās 10% loss. And for the day I am in 5% profitā¦
My maximum limit of loss is 5% for the day, but I keep on breaking itā¦
I need to be disciplined with my money & risk management I know I will be in profit with just 55-60% success rate, can anyone guide me how to be disciplined.
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If maximum drawdown is reached , just close ur system , watch ur fav movies or play some games. trade next day.
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i skip today expiray day trading because the announcement of FM, so i fear volatility in index so i skip actively .But last monday i seen lot of stock IV above 90% when above 90% the premium for far otm w will get best , so ithink we can short all stocks whose IV above 90% shorted value total 130,000 , in matter fo 4 days i grabbed 50k ++ , this will happen soon because IV will crash in matter of two days in stock , i shorted TATAMOTORS, AIRTEL, INFRATEL, ICICIBANK, SBI, PNB, IDEA, & IOC waiting to close on monday , to grab last weekend THETA ,
any way today expiray 13k+ earned , in this month total profit expecting 2.25 lakhs . its all hedged in cash and futures
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No you are wrong , maximum limit of loss you fixed 5 % per day , if 10 days hit means 50% of capital will erase then you will mentally distrup , if you are serious intraday trader your loss 1% only per day not more than that, if you have 1 lkahs chosse scrip not more than four , four scrip want to be in different sector , each scrip capital want to employed 25k for four scrip 1L , fix profit 2% , loss 1% - 1:2 , if you are following then only you can stay long in market , otherwise not possible
Strategy first ā Risk management Next
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Yes Sir I totally agree with you, thatās why I donāt usually last more than 2 weeksā¦ Problem is I am trading on leverage 5 times or even 10 times. Capital will be just 20k thatās the issue.
For 1% SL means I can give only .2% SL for day which gets hit quickly in no time.
Right now testing with 1000 capital. Started on 14.10.2019ā¦ I think this is the first time I could manage to be in beyond 1 monthā¦ Right now drawdown is 15%.
Entered 60 day challenge also, now in Red.
Hai @sibydaniel2017 for you see this video you can get some information on intraday begineers (TURTILE TRADING)
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How do we know the implied volatility for stocks and indices?
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Most of the option software we can see , sensibull and best live feed from HECKYL SOFTWARE
see here i am not seeing implied volatility , i am seeing only implied volatility percentage for last history of 30 days
and very important is strike price choose and strike price IVP also want to match if not dont write we can see these things clearly in HECKYL software live which strike price we need to write
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where can we see IV percentage in sensibull ? I can see IV chart only
when you are taking trade against IVP please remember the PCR value its more important , bullish are bearish you want to know . Both side we cannot write because when high IV if stock move in one direction premium will increase very high MTM also very high you want to know all adjustment , see IVP then most important PCR its will tell which direction the stock will move in coming days otherwise you will trap in physical delivery , and choosing strike is most important , this facility is not available in sensibull , its available only in HECKYL software, if you are wrong in stock MTM loss is very high. yu want to be active and ready for anything
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You are doing everything wrong risk management wise, 10% SL for Intraday is way too much, 1-2% is ideal. as Riyas said donāt bet everything on one stock.
Here follow what I do.
Iāve 50k capital and have divided that by 10, so when i get trade opportunity I only trade with 5k and my SL is 1% of that 5k. Itās simple position seizing method and will preserve your capital for longer periods.
For you It might not be possible with 1k but with leverage treat those 1k as 10k and buy shares only worth 1k when you get opportunity to trade and keep 1-2% SL.
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@Riyas_Ahamed : Do you have paid subscription for Heckyl Software or you are using any other broker which provides you this platform for free ?
I checked with Motilal Oswal but they say that they donāt provide this softwareā¦
heckyl software is available in motilal oswal and icici direct and hdfc sec , u can check , branch brokers they dont know about this its really amazing for me , you can open any of this broker you can get, its free @Amit_Koyal
@Riyas_Ahamed : Which one you are using out of the 3 ? Also which one has lowest Brokerage for Option Selling ?
Yes I totally agree, 10% is very huge, actually itās 5% as per my risk management, by which I can survive 10 trading days with continuously hitting SLā¦(20 trades). With a strategy giving atleast 60% success rate (1:1.5 RR), I can be in profit.
My major problem is breaking that 5% rule, which is devastatingā¦ Working on it, letās see what comes outā¦ Now drowdown only 9%ā¦after 28 trading days.
Thankyou vishnux, Riyasji & Shubh for replying & guiding, will follow your guidance.