Interesting read. It has been on my mind for sometime now , becoming a pure daytrader . The critical point was sometime a few months ago ( my handholding batch saw that trade ) where I got hit by a 400 point Nifty gapup against me and saw a 7 figure negative M2M. https://twitter.com/Canny4/status/1299478098367438851

It took all my experience to daytrade and scalp thruout the day to cover 80% of those losses( and it was draining) . But the initial hit was scary , despite being in options . Set me thinking about me as a trader , my trading style and what are my strong and weak points

I can enter very fast, with size , have perfect risk mgmt where I always get out at predefined losses . But if in a positional trade the gap up is against me , all risk mgmt goes for a toss as no way one can manage set risk overnight .

I have also understood that I am psychologically more comfortable holding positional shorts than long . This also has a Greeks support. Stocks going up depresses IV and your calls don't rise that fast. Falls pump up IV and your puts gain much more

Plus, markets take much lesser time to fall than rise .

In daytrading ( what I thought my weakness ) my issue is I cannot hold for long . 30 mins is the max I can hold . So, I have modified my strategies and execution accordingly

I have also realised no trader can be positional, daytrader , play both longs and shorts equally well. One has to find his niche , where he is most productive and psychologically comfortable .

From the shared thread, one point resonated . " Not waking up to a drawdown due to adverse gap"
Plus, markets as of now are kinda irrational , better stay on my toes

Had this huge discussion at various points with @gautam_icma who also advised me to stick to my strengths in daytrading ( it's ongoing ).

So, I have decided that daytrading will be 90% of what I do. Wil switch to more positionals when I see a large bear move ( I am equally comfortable there )

The aim of this thread is to explain that no one is a superman who can trade all trading styles. Find where u are comfortable according to your skills. Can be daytrading, swings, deliveries etc .
Find your niche :)

Last nail came when I perfectly identified TataMotors as a long since 112 and SBI from 200. Entered right, had solid positions but could not take the full ride. More of a psychological issue than technique :(