hi please help me

#1
dear friends please help me . ihave bough dec 5100 put @ rs 60 in hope of a trading correction . where should i exit or wait .please give me levels
 
#2
You have enough posts in this site that warn you against taking such risky position. Please know your risks and know how much you can lose before you initiate a trade.
Even I had a position on 5000PUT initiated yesterday, but my stoploss saved me - infact I went long CALL 5100 after that.
I wish you will learn from this mistake and prosper in future.
 
#3
One of the really helpful things I did after being lucky to get off my own casino rides without getting hurt was to read Alexander Elder, starting off with 'Trading for a living'. You can infact download all of his books from rapid$hare for free.
One of the things he keeps repeating: if trading evokes gambling-like instincts from you, keep away!!
Another gem: realization of you and only you are responsible for the positions that you take and the reason behind them. So, read another gem of his: 'Entry and Exits' where he illustrates many successful traeders' experiences.
 

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