Opto Circuits Futures. I have a short position with high losses.

[SavantGarde]

Hi Startrade,

Gauhar perhaps realises the mistake he has made... but instead he has been receiving advice telling him what a trader should / shouldn't do .... his need for the hour is how to extricate himself.... from this mess....

Coming to what can or cannot be done.... will depend on his ledger balance.... moreover, I haven't see the chart of Opto in the last 6 months... but there is no position that eventually can't be turned around... ofcourse ledger permitting.....

Happy & Safer Trading

SavantGarde

My number 1 rule is "never average down a losing trade".

It will be interesting to see what advice SavantGarde gives and how this scenario pans out.

 

[Prashant Patel]

Hi Startrade,

Gauhar perhaps realises the mistake he has made... but instead he has been receiving advice telling him what a trader should / shouldn't do .... his need for the hour is how to extricate himself.... from this mess....

Coming to what can or cannot be done.... will depend on his ledger balance.... moreover, I haven't see the chart of Opto in the last 6 months... but there is no position that eventually can't be turned around... ofcourse ledger permitting.....

Happy & Safer Trading

SavantGarde

Here it's Savant Sir

 

[Prashant Patel]

If I'm not worng volumes have gone down, therefore it seems it will have a correction of 1-2% within 2-3 days.

 

[SavantGarde]

Hi Prashant,

Yeah....Just saw it after posting to Startrade.....but only till yesterday's rate today....I have a weird problem with internet... can only open TJ site...but no other...it has happened a couple of times before...so will download the bhavcopy....and update with todays rate...perhaps tomorrow...if I can open NSE site....

Thanks A Ton....For The Chart.....Hope you also are not short on Opto....

Happy & Safer Trading

SavantGarde

Here it's Savant Sir

 

[Prashant Patel]

Not Sir, but thinking of shorting it on Mon or Tue?

 

[SavantGarde]

Hi Prashant,

Wait for a big up day to short it next week... & on the expiry day... either write a PUT if options are actively traded or go long with futures in the last 30 minutes of expiry day....

Happy & Safer Trading

SavantGarde

Not Sir, but thinking of shorting it on Mon or Tue?

 

[Prashant Patel]

Hi Prashant,

Wait for a big up day to short it next week... & on the expiry day... either write a PUT if options are actively traded or go long with futures in the last 30 minutes of expiry day....

Happy & Safer Trading

SavantGarde

:clapping:
Thanks sir for your kind & generous suggestion.
Would do the same, as you said.

 

[MantriB]

i like the no. 1 rule.

 

[gauharjk]

Hi GauharJK,

Want to know what is the available capital.....with you...depending on the same.....will try and turn this around... Next time do not make stupid mistakes like this

Happy & Safer Trading

SavantGarde

I had a total capital of Rs 95000, but around Rs 45000 has been wiped out.

Thank you for offering to help.

 

[vijaybhaskar]

My number 1 rule is "never average down a losing trade".

You can only average on the losing trade and would be irrational to buy at higher levels. Instead treat every purchase as a separate entity and sell one by one.
Vijay Bhaskar