COMMISSIONS & TAXES

TOTAL PROFITS

IF CURRENT EXPIRY
ENTRY

IF CURRENT EXPIRY
EXIT

PROFIT pts IF I'd
TRADED CURRENT
EXPIRY

Cumulative on 1 lot

Actual Drawdown

Cumulative if started with 6L

Cumulative if started with 12L

https://drive.google.com/file/d/1sFwGvkuM-H-lXfnz2wokmOelM9oWQtrs/view?usp=sharing

Entered the trade according to system. Market quotes froze a moment later. An hour later, the market was halted.
I tried exiting after market opened, but then Interactive brokers didn't show quote refreshing.
Contacted interactive brokers and learnt they don't have extended hours trading enabled in their system.
Tried calling them for closing the position.

Around this time, NSitharaman had announced the private bank embargo lifting, banknifty rallied. So, since I couldn't reach to
IBKR customer care after long time of waiting, I thought I'll exit the next day (feb 25).

I didn't have a clear exit plan. Before market opened, I saw SunderjiJB's tweets on planning to buy the dip, and that definitely
influenced me a lot. Then there was Yogesh Nanda who'd remarked this expiry looks like last month expiry when market finished
towards the upside.

When market opened and rallied today, the profit was close to 3.7 lakhs at peak. I had an insanely long bias due to the tweets I read
and since I didn't have an exit plan, I froze. Looking at the experiment yielding such a result in the first day (mainly pure pure pure luck),
I couldn't think of anything else. And the bias and my brain freeze combined, I ended up booking profit at the low of the day, holding until
that point, thinking market will go back up after 2pm to take out the shorts.

Throughout the time I was holding, it was painful. And when I did realize after exiting at around 2.15, that I could have sold one lot per 5% down from the morning high, it just hit me that I didn't think of that.

I couldn't read the market. My instincts aren't well developed. I am not a discretionary trader, and I don't predict. So, my discretionary chart reading abilities are quite rusty, and proved to be the worst thing today to have held out after the opening range high.

Lessons Learnt:

1. If you're following your system, and an event like this happens of black swan nature, always formulate such events into picture for manual exits - and have an exit plan. Whether we are in loss or profit, an exit plan is mandatory. Otherwise, we'll only be like Abhimanyu in Chakravyuh.
2. Before market hours end, do not watch other people's tweets or news. Do not ask anyone else's analysis or recommendations to manage your exit or entries.
3. Always consider pyramiding out of your position in case of extraneous situations where you make a month or two worth of profits in a day due to an anomaly.
Pyramiding out/scaling out will ensure you don't miss the best levels and will also ensure you get better exit liquidity wise and slippage wise.
4. Being in Next weekly option might have been disadvantageous (3.7 lakh peak profit instead of 3.9 lakh peak profit in current weekly) - but had the positions been reversed and I was short banknifty, I'd have lost most of my trade capital. So, next weekly option - although has slightly higher spread (1-1.5 points), also ensures you lose less due to theta decay.

https://drive.google.com/file/d/1_GcZJLX3WTcqzUOzeiDzcBtOku-C1Os0/view?usp=sharing

Entered the trade according to system.
Did one mistake - since the timing was a little off (i entered on time, but missed to see the futures level above or below 50 multiple mark)
and the level was just around 35350, I entered into 35300PE instead of 35400PE. The actual level on entry was 35350.20, so the PE
that I entered should have been 35400PE. That would have given me a profit of 124k instead of 116k odd rupees. The peak the PNL reached
would also have been around 1.92L instead of 1.87L.

So, the trade went to 1.87L profit, then slowly came back down, and I was so disheartened to see a lakh and a half rupees eroding away
and trade eventually was in loss around 2.50pm. I'd given up mentally and decided that I'll book a loss as the exit time is reached. And then
from 2:55pm, what a reversal!

-10,000 odd rupees loss went back to a high of 1.3L and then eventually the trade was closed at 1.16L profit.

100% returns reached in 2 trades. Is this normal? ABSOLUTELY NOT.

I would say luck has been very kind and favorable.

I would wait and watch the next 50 to 100 trades and then decide how the experiment goes.

Since I made profit in the first trade, I increased the lot size by another 2 lots (futures) - that's 4 lots in ATM option.

Now, I will be increasing lot size in the next trade also.

After starting off with 50k per lot - for lot size, I increased 1 lot per lakh rupees (roughly) and so I went with 2 additional lots of futures equivalent.

Since I have only begun I just felt this would prevent giving back most of it in losing trades. As I scale up, I will reduce the aggression and turn towards
conservative compounding (post 75L - 1Cr maybe)

1,68,100 rupees left to market

Entered the trade according to system. Exited in few bars as my entry was the highest of the morning session in banknifty. Losses definitely suck.
But they are part of working with the system. Anyone who tells you LUCK plays no role in trading should be lying. Luck is definitely important.
If you start trading a system and from the very first trade, the system goes into drawdown, and max drawdown happens, it's very difficult to climb out of it
financially as well as psychologically. I just hope the system bounces back before it goes beyond 50% drawdown.

https://drive.google.com/file/d/1QFPWMXPTvgTbk4V3SiSQeKH859aTgg5g/view?usp=sharing
https://drive.google.com/file/d/1nLR2JwNP-abn5iZPlVhRALsqlZ5dgr34/view?usp=sharing

163800 rupees left to market

Put on the trade according to the system. Was definitely feeling like this was also going to be a fake touch and go back up day with further drawdown.
Call it luck or just following the system, the drawdown has recovered to a decent extent. Still under drawdown phase. It was difficult to hold this position
or watch it. Doing this experiment in public doesn't help either. You just feel embarrassed if you keep going underwater. I did feel the same. But we can't
interrupt discipline for those feelings. I think i ll continue just the same. I'll admit that until yesterday it definitely felt like the entire thing sucked badly - and that
I might go further drawdown if market nature has changed after new margin rules. But then, the system has been tested over 12 years of data, so it should
in essence include all such shifts in market. So, this has given me confidence to continue despite things looking grim.

Opened according to system. Within the first few mins, I had a notion that it might be a good trade day. But when that doji happened and price was wobbling around
i felt that it could be a hit and bounce back. Just that price movement gave hope until the last moment and then bounced back higher. Lot of theta decay oriented loss
in the trade today. Just up and down and up and down. Exited as well according to system, but it did feel like I could have avoided trading today after profits on friday.

Entered according to system, but the top of the day. Exited after the big red bar, but then after my exit market has rebounded. This is the most frustrating aspect
when it happens with the system.

While entering I knew with about 80-90% probability that this trade was wrong. But i can't intervene with the system. Losing 70k (which is my monthly salary at the prop firm)
in a single trade is like very painful. But i feel numb and no feelings. I knew with good probability that this trade was wrong. But i just never intervene because if I make
a habit out of it, it's going to make me take profits earlier and hold on to losses longer, take losing trades and avoid winning trades due to discretion creeping in.
I don't have good instincts, so I have to bite my teeth and stick to the system. The drawdowns are unnerving only but what to do? Being a systematic trader, we can't
seek thrill. We have to remain passive and calm and let the system do the work as frustrating as the experience might be.

That said, one of these days (next week or next month), there's going to be a huge directional move that will take the system to new equity highs, probably above 8-9 lakhs.
I am not predicting it - but based on system's behavior, this is bound to happen. I may be off in time - it may take 3 months of sideways market and then breaking out.
But this will happen I believe, and the best i can do is hang on to the system for life, like vedalam on vikramadityan's shoulders.

Update: Looks like my entry was the top of the day. Even if I had shorted after my exit, I'd have made good money. But my system's short trigger is way below in the
33600-33400 range which doesn't look like it will happen today.

Lot of stomach burning happening to me now. 1000+ points. Had I been short exactly where I went long, I'd be sittin with gains of over 7 lakhs right now. My wife was just here and
was asking, "I'll trade better than your system does, what kind of a shitty system misses a 1000 point move?"

What do I tell her! Biting my teeth and sitting silently now.

Nothing to say. I don't feel good. These sideways movement in PNL never feels good, and so yes I feel like crap today. Executed correctly, but the time
and movements it took to reach and hit the stop loss was frustrating and so volatile. SO MANY times oscillating between 33450 and 33600, which led to severe theta decay also.

Not a good day. So, not feeling any good. One more loss, and I'll have to reduce lot size or add capital. Let's see.

Perils of aggressive compounding? Yes. Dipped less than even the starting capital. Now, I will have to restart the experiment or add cash to continue.
System entered at the top of the day so far, and just after my exit bounced back. LOL, look at the system parameters - -12% return at -63% drawdown.
Even I want to ridicule myself, so I wouldn't mind if you joke about this.

That said, yes - I do feel like shit. It's difficult to avoid getting in the trap of losing faith especially during these times.
This also made me think of something else. Why do we add lot size when our system makes new equity high, why don't we add lot size after it has made an equity high
and then came down through a drawdown, adding lots during the drawdown phase - that sounds much more like a risk-first approach.

Of course you can't time the drawdown, but then the system doesn't always keep going up or keep going down and down. So, it does sound like a much more
prudent thing to do to add lot sizes after the system reaches equity high, goes through drawdown and then you add lots during the drawdown. I'll have to test
this though.

Executed according to system's rules. Another whipsaw day. When will this end? I don't know. I just hope my equity doesn't end before this phase does.
Hope isn't a great strategy but when you have a good system, you can only put your faith and keep patience.

Should have booked the profits when it was the lowest of the day. It was around 50,000. From 50,000, booking at 300 rupees profit is like a slap
in the face. Also, bad decision to trade the current weekly. But since march first week, the next weekly barely has any liquidity at all. SO BAD.
Next weekly profit would have been 3000 rupees vs 300 rupees in current weekly. So many whipsaws throughout the day led to a lot of theta
decay. Right now all I am wishing for is 3-4 continuous good trades. But it looks like too much to desire for right now. Hanging onto the system
with my dear life.

Taken the trade at the day's high. Should have shorted the 32000PE as I had mentioned on the tweet, but that's not the system. I definitely
feel like throwing everything out the window. This phase is very frustrating only - especially after missing the profits on the other day. This sucks.

Also, after hitting stop loss, it's come back up to buying level.

Entered according to rules. Stop loss hit. Missing that trade two due to oversleeping was a costly mistake - not just because i didn't make that
profit, but also because i am not able to bear the loss that's happening currently. That profit would have offset some of these losses and I could
have avoided the drawdown. 75% drawdown from peak highs obviously means I am a bad trader and this is a bad system. But it's more of the
former, than the latter. Two mistakes cost me dearly - first one being that I wasn't executing one of the rules correctly until the first steep drawdown.
Second being the trade I missed few days back. I definitely feel like what's the point in keeping up this experiment, I should just declare failure and give up
But, I don't think there's anything to lose beyond this. I signed up for this knowing full well that losing 3 lakhs is a possibility. But I didn't mean to make mistakes
from my end - if system goes through a natural drawdown it's fine. But if losses happen because of our mistakes, it's not. Execution issues and discipline issues
like these, cost big time.