Bhai usi din thoda late bol dijiye at 100 b chalega....
, i cannot predict the precise direction and time. but i remeber i had given a caution at a fairly early time, around 9.45/10.
i was already short from the previous day and just added to my position then because of my conviction that the index will go towards what the option chain indicated if not the same day then next week. this is another aspect which has to taken with caution ( the conviction and the decision to carry forward positions.) i had bought nifty pe at 45 on thursday and it closed at 35, it again opened at 24 and was down to 14 on thursday thats 2/3rds down. This is the kind of risks which are involved. you will get a drop of 50 % on premium the very next day. only because of my conviction that the market will head down i decided to add to my position. now, imagine a situation where the market went up ., i would only have been adding to my losses further
thats the reason i rarely carry forward positions. and i depend quite a bit on my visuals of the prices. looking at the way the price moves up , the strength which is visible, the corresponding moves of the puts and the calls all give a broad sentiment on the index movement. i cannot quantify it by logic and diagrams. but looking at an upmove where you do not see the puts and the calls movement being proportional to it, this gives a feeling that this could be a false one and vice versa. even then i wait to see it this action is continued only then take a decision.
even there i wait for it to cross the closest support or res. levels ( i use gann levels / fibonacci levels) before i buy. i still havent refined any sl / trailing sl methods levels. i generally use the pivot levels to shift and they are not very accurate.
just like everyone else i too have bad days. lose money, etc etc.
