Staring At Massive MTM Losses - What Should I do Now?
- Thread starter smartcat
- Start date
TR
I do not speak your language. So I only understand the part in English of your post. Even than:
That is why I think the thread is interesting. A good mix of high quality inputs from different views with little amounts of post's.
The only thing I am really wondering: 5 people voted that there are some kind of magical ways to get out of such a huge loss.
I guess this five people must be extra ordinary high professional traders, which are very rich, as they voted in that way.
DanPickUp
I do not speak your language. So I only understand the part in English of your post. Even than:
That is why I think the thread is interesting. A good mix of high quality inputs from different views with little amounts of post's.
The only thing I am really wondering: 5 people voted that there are some kind of magical ways to get out of such a huge loss.
I guess this five people must be extra ordinary high professional traders, which are very rich, as they voted in that way.
DanPickUp
Most of the replies.... so far failed to understand SmCt's personality.... & offered to mould him in their own Trading style.... perhaps it is not exactly what he is looking for.....he likes to walk sometimes on the wild side... No harm....at all in that...!!!
Let's see what unfolds...in the next 7-10 pages.....
SG
Let's see what unfolds...in the next 7-10 pages.....
SG
Last edited:
Roughly translating the Hindi part :
We don't know what to do with our own losing positions. But when somebody else asks for help, we jump in with our suggestions.
But seriously, posting my problem here has helped me think a bit clearly. And especially, not jump the gun. I'm not blindly following any suggestions as such - because at the end of the day, its my money that's stuck there. But I think I will be incorporating suggestions after making some changes to it to suit my trading style
We don't know what to do with our own losing positions. But when somebody else asks for help, we jump in with our suggestions.
But seriously, posting my problem here has helped me think a bit clearly. And especially, not jump the gun. I'm not blindly following any suggestions as such - because at the end of the day, its my money that's stuck there. But I think I will be incorporating suggestions after making some changes to it to suit my trading style
hello smartcat..
im not a big player... and several times i have found myself in similar situations...
have tried almost everything with the limited and small capital i have...
if i were u.. i would be first of all happy and content that even after such a trade i am in profits since feb...
secondly i would sell all the calls if the market goes any lower... and perhaps not trade for a day or two.. clear ur slate.. and start fresh thereafter.. with controlled risk..
just like u will lose big in this trade there will be trades in which u will make big... just hang in there.. any trade no matter how well planned and executed can turn against u.. so be quick to exit the wrong ones.. and ride the winners till the end..!
good luck.. i wish u recover all ur money..
even i am in a similar situation right now.. have some 5700 calls but small quantity.. and have been buying and selling it again and again just like TIMEPASS mentioned.. and have already recovered around 30% of the initial value of my calls.. this has been done in the last week only.. but like i told u.. clear ur mind and slate after every trade... so when i sell my calls once.. i close my eyes and try to understand that this trade is over... when i buy the calls again its a fresh trade for me.. without thinking of the previous one..!
im not a big player... and several times i have found myself in similar situations...
have tried almost everything with the limited and small capital i have...
if i were u.. i would be first of all happy and content that even after such a trade i am in profits since feb...
secondly i would sell all the calls if the market goes any lower... and perhaps not trade for a day or two.. clear ur slate.. and start fresh thereafter.. with controlled risk..
just like u will lose big in this trade there will be trades in which u will make big... just hang in there.. any trade no matter how well planned and executed can turn against u.. so be quick to exit the wrong ones.. and ride the winners till the end..!
good luck.. i wish u recover all ur money..
even i am in a similar situation right now.. have some 5700 calls but small quantity.. and have been buying and selling it again and again just like TIMEPASS mentioned.. and have already recovered around 30% of the initial value of my calls.. this has been done in the last week only.. but like i told u.. clear ur mind and slate after every trade... so when i sell my calls once.. i close my eyes and try to understand that this trade is over... when i buy the calls again its a fresh trade for me.. without thinking of the previous one..!
Long story short, and slightly too direct because I am traveling with only phone Internet.
Your trade is over !!
It hit its stop loss. Meditate for 10 minutes and get this in your head. All other advice is new trades. The challenge is that this trade is still open, exchange wise. Based on what your sense is about the markets, elections, horoscope and what not ... decide on Monday whether you will buy this option at the market price ... as a fresh order ... If yes keep the options, if not ... dump them. Rest of the discussions is stock tips which is as relevant for you as it is for others seeking to increase their portfolio. Options is not the only way to increase your account, be open to all ideas. Just because you are in the joke because of the options, does not mean you have to use options ... Strangle, straddle, condor or xyz to get out of this hole.
#1. Decide whether you will keep or dump the options
#2. Make your highest probability trades to recover money ... Without the baggage of this trade on your head
#3. Learn more
#2 and #3 are probably out of sequence. Depending in your comfort, you can run them in any order or in parallel.
Your trade is over !!
It hit its stop loss. Meditate for 10 minutes and get this in your head. All other advice is new trades. The challenge is that this trade is still open, exchange wise. Based on what your sense is about the markets, elections, horoscope and what not ... decide on Monday whether you will buy this option at the market price ... as a fresh order ... If yes keep the options, if not ... dump them. Rest of the discussions is stock tips which is as relevant for you as it is for others seeking to increase their portfolio. Options is not the only way to increase your account, be open to all ideas. Just because you are in the joke because of the options, does not mean you have to use options ... Strangle, straddle, condor or xyz to get out of this hole.
#1. Decide whether you will keep or dump the options
#2. Make your highest probability trades to recover money ... Without the baggage of this trade on your head
#3. Learn more
#2 and #3 are probably out of sequence. Depending in your comfort, you can run them in any order or in parallel.
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