Thanks AW10,
My stoploss level is this much only (Rs. 6K). 15 day which are you talking about ... do mean by this month end expiry or what... because this option's expiry is in the last week of october... Or you were telling the effect of time decay ?
If it is because of time decay... then what do u suggest ? I should go for square it off tomorrow, since this is my stop loss level.
I am sorry, I missed the point that you are holding October Contract.
But that doesn't change anyother part of my post - i.e. deciding you stoploss limit,
forming view on current trend of Suzlon, option pricing and how it behaves.
As a trader, my suggestion will be to plan your trade and execute your plan. If your plan was to max loose 6k on this.. control your emotion and cut the loss.
you option is already at 5.2 today.. You have to know yourself, can u stay balanced after seeing 10k, 12k loss on this trade, will u be able to pull the trigger on next trade confidently after this trade, what trading belief this expereince will bring to you as a trader,
Trading is lot more then just booking profit. My suggestion will be to cut loss and spend remaining money in learning trading.. Learn to manage the loss and profits will take care of themselves. Otherwise, it just takes 1 loosing trade to wipeout the profits of many trades. .. or just to recover the loss of 1 big trade.. u need to generate many profitable trades.
In trading, you have only 4 outcomes, from your trade..
1) Big Profit
2) Small Profit
3) Small Loss
4) Big loss
And right trading practice is to Avoid (4) Big loss.
If you are asking others opinion, you will always get contradictory views (like here vikas and I are suggesting different actions). Please take your own decisions as the outcome is going to affect only you. Not to Vikas or My account balance.
Happy Trading.