Strategy description

Strategy Description

This strategy is a systematic risk-defined Sensex weekly expiry intraday option selling strategy. Developed based on market behavior and my intraday trading experience of 3 years, with a max drawdown of 4.4%.

Key Details:

1. Max Per Day Risk: The strategy has a max loss of ₹1800 for 1x multiplier on Wednesday, Thursday, and ₹950 for other days.
2. Max Per Day Target: The strategy has a target of 2.4% for Wednesday, Thursday, and 1.2% for other days, followed by trailing PnL.
3. Average Number of Trades per Day: 9
4. Entry & Reentry: Entry varies between 9:16 to 9:30 depending on different days left before the expiry. Reentry is a max of 3 times per day.
5. Leg-based Entry and Exit: Entry and exit depend on market moves and volatility.
6. Reentry Cutoff Time: 3:00 PM.
7. Exit: The strategy exits at 3:27 PM.
8. Market Suitability: Designed to work for both trending and range-bound markets. Volatile moves either side, back-to-back, can hurt this strategy, which is common for most trading methods.

Deviations:

All entry and exit orders are at market price. Results might differ for individual subscribers depending on execution. It is recommended to make deployment active before market hours to get consistent results with other deployments and let the algo perform its timely entries.

Overall, in the long run, returns will be the same.

Disclaimer:

I'm not a SEBI-registered investment or financial advisor. This strategy is developed for educational purposes and learning only. The subscriber is responsible for any profit/loss arising from deploying the strategy without any question to the developer. Deploy with due diligence, starting with paper trade first and gaining hands-on user experience to avoid errors.