It was extended fall on the daily & on the 30-minute chart. Odds were high for a reversal from here so bought in anticipation without waiting for any level to get triggered.
I don't check DOW late at night and worry about what it will do. Never done it in many many years I can think of. Yes, when I started out I used to. Futile exercise it is. #BroTip
4/n
I don't worry about gap downs like most of you do. No gap down can wipe me out because I position myself that way. It can at max damage me 2-3 or maybe 5% something I can recover from.
P.S: No gap down has ever hit 2% of my port forget 5. Position size is the key. #BroTip
5/n
I don't have any indices on my screen. I can swear by my life that I don't know where NIFTY and Sensex are. They don't make money for me. Stocks do. And stocks make those indices. #BroTip
You just need some extra money (if you wish to continue to work smoothly for next T + 3 days)
Or
If no spare funds, then wait for T+2 days for partial ease of limit and T+3 for full limit.
P.S: This margin rule is NOT new.
For every scrip, the VAR margin requirement is different (based on scrip’s volatility). It ranges from 20 to 100%. Till today the rule was you needed 75% of VAR in your account before you can place your order.
1/n
For example, VAR margin for SRF is 25% up front and for HAPPSTMNDS it is 100%.
To buy SRF, you needed 75% of 25%(VAR) of total order value, for the order to go. Some small brokers may allow your order even otherwise, but you will be charged 1% penalty.
2/n