The Indian Market Wizards -Interviews of Top Traders in India : [PDF Download]

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“Suppose the Bank Nifty reverses from a support level at 26,500, I will sell a 26,200 Put. The strike on which I trade has to be 1 percent away from the support or resistance level. If the Bank Nifty is breaking the previous trend, I will cut my position irrespective of the profit or loss.

Along with the strategy what has helped my trading is position sizing. One the first day of trading a new expiry, I will only trade with 30 percent of my capital. If the trade is in my favour, I will add to the position on the second day.

In the above example, the first trade would be selling a Put at 26,200 and the second would be selling a Put of 26,300 as the Bank Nifty moves higher. Even while deploying 30 percent of the capital on the first day, I will not be taking the position at one go.

My first entry will be of 10 percent, which will be scaled up to 30 percent. After allocating 60 percent of my capital, I will keep 40 percent for contingencies.”

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