Escape's Trading Diary - Options

[escape]

Bought NIFTY 27Sep2012 CE 5200 @ 127.00, SL @ 117.00, CMP 127.45

 

[escape]

Bought NIFTY 27Sep2012 CE 5200 @ 127.00, SL @ 117.00, CMP 127.45

Exit @ 132, profit of 5 points, less brokerages.

 

[escape]

Here is log as of last session.

Log:
NIFTY OPT 27SEP 12 CE @ 5200 (B)50 @128.27 (S)50 @ 132.00 +186.50


Result:
After deducting all charges: Rs +169.98

Capital Status:
Exact Initial Capital: Rs. 15746
Current Ledger balance Rs. 14870 (-876)

Learning:
I noticed, my trade (specially EXIT) was almost similar to trades in previous two trading sessions. Yesterday, I had only one trade.

EXIT was too early (seems in little panic, as it took long time to break), in fact later on I recognized it was at confirmation of breakout when I took EXIT. After my EXIT, it went up around 14-15 points in same direction.

Anyway, I ended day with positive result (although it was effectively just 3 points gain).

 

[escape]

Bought NIFTY 27Sep2012 PE 5400 @ 161.75, SL @ 151.00, CMP 162.45

 

[escape]

bought nifty 27sep2012 pe 5400 @ 161.75, sl @ 151.00, cmp 162.45

SL @ 168.80, cmp 170.45

 

[escape]

SL @ 168.80, cmp 170.45

Exit @ 169.80, Profit of 8.05 points, less brokerages.

 

[escape]

Here is log as of last session.

Log:
NIFTY OPT 27SEP 12 PE @ 5400 (B)50 @163.37 (S)50 @ 169.80 +321.63

Result:
After deducting all charges: Rs +300.52

Capital Status:
Exact Initial Capital: Rs. 15746
Current Ledger balance Rs. 15170 (-576)

Learning:
Yesterday's trade was planned one, but decided and executed by market.
Let me explain, initially market was range-bound, so I placed two orders (PE 5400 and CE 5200), both limit order, both one point above day's high for each. I patiently waited for breakout.
After breakout, PE 5400 went up and my PE 5400 order was executed. So I cancelled CE 5200 order. As PE 5400 reached near 10 points above my buy rate, I changed SL near to CMP and exited with 8 points gain.

Ended day with positive result of around 6 points gain.

In terms of Rupees, it is not huge gain (as I'm trading only one lot, until end of phase 1), but yes it is ending up positively, and that's encouraging me.

 

[Jeareh]

Hi Escape,

I was going through your post. Great. Keep posting your trades.

As Dan was asking, will naked option trade brings loss in long run?
Is option strategies must for option trade?

You look very comfortable with your style of naked option trade.
I think if you have good planned strategy with dicipline and MM, you can do better in this kind of trade.
No hedging, No writing of option and No option strategy is needed. Do you accept.

Happy option trade.

 

[manojborle]

Hi Escape,

I was going through your post. Great. Keep posting your trades.

As Dan was asking, will naked option trade brings loss in long run?
Is option strategies must for option trade?

You look very comfortable with your style of naked option trade.
I think if you have good planned strategy with dicipline and MM, you can do better in this kind of trade.
No hedging, No writing of option and No option strategy is needed. Do you accept.

Happy option trade.

for intraday trading , I think no strategy is required.
I am trading options on intraday basis and I take positions based on underlying chart

 

[manojborle]

for intraday trading , I think no strategy is required.
I am trading options on intraday basis and I take positions based on underlying chart

Though I am not an experienced guy like you peolpe