Did 2 sets of trades today. My learnings:-
1. Bought 5600PE 50 each @ 69.55 & 68.35. Exited at 75.7 & 74.5. Total gross 8.92%.
need to work out some rules for trailing stop loss calculation as the some candle & next candle did go upto almost 80.
2. Based on a support level of 5600 NF again bought 5600PE [email protected]. Had to exit at 76.25. So gave up almost 50% of profits of previous trade. Mistake was that I did not wait for level to be breached on Candle Closing Basis. 5600 never got breached on closing basis on 5 & 15 min candles. So now this is a golden rule- wait for candle closing.
Looks like we are going to be stuck in a range of 5600 - 5700 for a day or two.
1. Bought 5600PE 50 each @ 69.55 & 68.35. Exited at 75.7 & 74.5. Total gross 8.92%.
need to work out some rules for trailing stop loss calculation as the some candle & next candle did go upto almost 80.
2. Based on a support level of 5600 NF again bought 5600PE [email protected]. Had to exit at 76.25. So gave up almost 50% of profits of previous trade. Mistake was that I did not wait for level to be breached on Candle Closing Basis. 5600 never got breached on closing basis on 5 & 15 min candles. So now this is a golden rule- wait for candle closing.
Looks like we are going to be stuck in a range of 5600 - 5700 for a day or two.
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