Hello, at the end of first week trying to preserve capital and make money, to no surprise I did the opposite. I fact I did really really bad, wait let me show you.
Nifty had these huge moves on 2 days before expiry and I held onto my weekly option sell confidently and finally ended up in loss, here it is
This was last Thursday’s screen grab , so lesson learnt. Always hedge weekly option calls. Going to start doing that. Gonna sell 2 lots every week with about premium credit of 5k and gonna document all the trades using my new MacBook. It’s time to be systematic.
I don’t hate myself much when losing money now. I feel like I am in it for the long game. I have that confidence that if I spent much time and effort and I can get competitive returns. It’s better that I get the capital after I have figured things out. I have to overcome my emotions of holding on to losses though.
Another stupid trade I took this week was Maruti 10000 ce. Started with 1 lot at the top and started adding lots, will exit it on Monday in loss. Maruti seemed bullish to breakout 10k and I added at the top without waiting. I really need to be patient and wait for the right trades. But then it started going down and ex-dividend date was coming too .
Well it’s pretty big loss. The loss and profits in a day is equal to my salary at my first job. Kinda crazy right. Anyways I am gonna find good trades and risk money now. I need to do things I enjoy and have to become good at it. I have been pretty complacent till now, thinking I’ll be able to make money without putting much effort.
so even if I was in this game for quite long, the loss part hasn’t changed even a bit even though everything else has changed. I recently saw a chat I had 3 years ago when I was making losses repeatedly and was looking for advice
Well as you can see, I haven’t obeyed the advice and I planning to do it now. Let’s see, I’ll keep you updated
The most important positive thing I got from trading is that, I see money as a material thing and don’t get emotional about it. I am like chill, it’s just money, we can easily lose and earn it. I love it about me.