Can anyone explain in simple way about adjustments in strangle when market moved against this strategy?
Yes!
Google can explain in details lots of strategies.
Also Youtube and twitter.
Just search " Strangle Adjustments"
Long or Short?
Short… because I thought it is best strategy and if something happens …I want to know the adjustments by getting out of it with atleast zero loss
It’s a great strategy if you know how to manage the risk. To do those strangle adjustments to get out with minimal loss - you need to be able to pump in more money.
Also, are you talking about doing this in Index or Stocks?