Do you average your options, if you are expecting a directional movement ?
the initial purchase itself is usually in 2-4 tranches. like when i do expect a direction move i will have orders with a space of7-10 rs for bank and 5-7 rs for nifty.
for eg., i may have 2 lots at 250, 2 lots 240 , and 2 lots at 230 and a stop at 200.
i usually do not add to positions for the sake of averaging unless i am confident of the move, even then it will come under the stoploss cover.
i have learnt to take my losses gracefully and am in the process of learning how to hold my profitable positions , ( reducing the instance of covering positions early in panic) .
its not very often that i carry positions, because earlier on most of my overnight positions used to end up in loss due to decay.
wednesdays and thursdays i generally trade the next week options.