Escape's Options Trading Diary - Phase 2

[escape]

Here is log as of last session.

Log:
NIFTY 27Sep12 CE 5500.00 (B)300 @ 132.67 (S)300 @ 135.50 (P/L) +849.00 (R) assumption of reversal and Support Level
NIFTY 27Sep12 PE 5700.00 (B)300 @ 99.90 (S)300 @ 106.73 (P/L) +2049.00 (R) assumption of reversal and Support Level

Result:
After deducting all charges: Rs +2,768.08

Capital Status for the current month:
Exact Initial Capital: Rs. 45,000/-
Current Ledger balance Rs. 43793.17 (-1206.83)

Learning/Remark:
After having losses on Friday, my goal for Monday was not to have further losses and if possible recover some losses.

It was wonderful day for me to trade. In fact almost all trade except one, given me positive result.
I'm able to recover loss occurred on Friday as well as made some profits on top.

Most of trades were on Support level or at reversal of trend.

Once I recovered Fridays' losses and made reasonable profit, I quit so as to avoid over-trade as well over-confidence.

:thanx:Thank you to members for feedback:
Also would like to thank members for realistic feedback after Friday disaster specially to augubhai, ganesh71, Jeareh, prakash2010 and soft_trader

 

[Jeareh]

Hi Escape,

Great going. Good to see you recovering the losses gradually.:clapping:

Yes, overtrade makes the broker rich. Understanding the trend is important.

Happy option trading.

 

[soft_trader]

Learning/Remark:

Once I recovered Fridays' losses and made reasonable profit, I quit so as to avoid over-trade as well over-confidence.

One of the good thing in you is self-control. This simple thing most of the traders can't achieve. Self-control is required for a good trader which you have.

Best of luck for your trades :thumb:

 

[escape]

Bought Nifty 12SEP2012 CE 5500 @ 134.80, SL 124.00, CMP 135.20

 

[escape]

Bought Nifty 12SEP2012 CE 5500 @ 134.80, SL 124.00, CMP 135.20

Exit @ 136.30, profit of 1.5 points, less brokerages.

 

[escape]

Bought Nifty 12SEP2012 PE 5700 @ 101.60, SL 91.00, CMP 101.60

 

[escape]

Bought Nifty 12SEP2012 PE 5700 @ 101.60, SL 91.00, CMP 101.60

SL changed to 96, CMP 100.40

 

[escape]

SL changed to 96, CMP 100.40

EXIT @ 96, loss of 5.60 points, less brokerages.

 

[escape]

Bought Nifty 12SEP2012 CE 5500 @ 143.00, SL 133.00, CMP 143.15

 

[escape]

Bought Nifty 12SEP2012 CE 5500 @ 143.00, SL 133.00, CMP 143.15

SL triggered but order didn't got executed, so changed SL to 128. Will trail up quickly.