Employee aspiring to be A FULL TIME TRADER

S

Santosh_Kumar

Member
#11
#11
1678248759404.png


I have only one open position now. Entered this trade on 20.02.2023 and SL hits on the same day (MTM loss is around 40K). As per my trading plan, converted the position into a strangle on the next day and waiting since then. all the losses recovered and currently with profit of 2K. Will hold the trade till Monday as per my plan.
 
S

Santosh_Kumar

Member
#13
#13
Santosh_Kumar said:
View attachment 48957

I have only one open position now. Entered this trade on 20.02.2023 and SL hits on the same day (MTM loss is around 40K). As per my trading plan, converted the position into a strangle on the next day and waiting since then. all the losses recovered and currently with profit of 2K. Will hold the trade till Monday as per my plan.
Click to expand...
Price continued to move within the strangle range and existed the trade with 26K profit today i.e. 13.03.2023.
 
S

Santosh_Kumar

Member
#14
#14
Santosh_Kumar said:
View attachment 48958
Sold 1050PE - 7 lots just now.
Click to expand...
Lost around 4 Lakhs in this trade due to huge gap up on 13.03.2023. I have sold futures (not part of my plan) on Friday evening which caused all the damage. Lost everything earned for the past 4 months in a single day. A single trade shall not make or break you. Greed took over me while executing this trade. I am breaking my own rules despite learning costly lesions like this trade for the past 2 years.

I have decided to leave trading forever if I break any of my own strategy rules again in the next 1 month.
 
VJAY

VJAY

Well-Known Member
#19
#19
Dear Rajesh,
Workout your loss trades...fix % of losses/trade...it looks higher loss trade ...it will hurt when things not in your way..My view
 
S

Santosh_Kumar

Member
#20
#20
Santosh_Kumar said:
Sold 4 lots of 130PE of RBL BANK. Target 8K by Monday. If SL hits, Will convert the position to ratio spread.
Click to expand...
Closed this trade with 11K profit. Got a feeling that I am not following proper risk to reward in my trades. Either I took high risk or too low reward many times. Hence decided to stop trading for 1 month and use this time to learn and practise.

I am currently learning market profiling to make a better risk to reward. Bought 3 books from Amazon using trading capital. Hoping that this approach will cut down the losing trades early in my trading style.

will update the progress after 1 month. Cheers...
 
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