In last week’s blog which referred to trades taken 2 weeks back, I wrote “shouldn’t I take such chances for the inevitable losses when they come?”
I traded in such a way past week that I brought the inevitable to myself. Luckily, the market went up and the rest of days were the usual.
The highlight of week of trade on 16500PE where I tried it all but couldn’t save it from booking it at a lot of nearly Rs. 50,000. I did not follow rules of mean reversion trading and started selling early. The principles of averaging too were not applied properly. I basically did all the classic mistakes which I used to make before starting wannabebull. Old habits just simply don’t die, do they?
Coupled with feelings of optimism, courage and perhaps some intellect, I sold ATM and ITM options on a couple of occasions. I sold ITM options on November 29 which gave immediate results. After breaking even overall (or that’s what I thought at that time), I closed that ITM trade even though my target was away on higher timeframe. The adrenaline rush was too much to handle. Wannabebull is not supposed to be about all that. And thus, I closed it all.
The rest of week was the usual. Due to high VIX, profits remained above average.
So I traversed through the following candles during the week:
Here are the results
|Net Profit (after deducting brokerage)||Capital deployed (approx)||Week’s ROI||Annualized ROI for this week||Total no. of weeks traded till today||Annualized return till today|
|Rs. 23947.61||Rs. 1022658||2.34%||233.22%||25||54.45%|
The following is breakdown of week’s positions:
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