My intraday trades in nifty options

[timepass]

In my trading experience of 8 years now, I had tried all that, suffered badly and slowly and steadily I got enlightened. that is to say:

1. always look at only underlying spot chart and take trades in Futures or options, never trade watching futures chart or options chart. this is due to serious whipsaw resulting from slippage of futures or options premium/discount.
my observation is that generally in futures the premium/discount increases in bull and viceversa in bear market (which is good if it is so) although it can sometimes work the other way round also ( this will be bad). In case of options, the time decay affects in addition, making the overall setup very complicated and your stops will hit left right and center even if the spot is going steady.
therefore whatever be the whipsaw variation in individual f and o's generally and finally the spot underlying will gradually pull it to destination.

2. everybody talking about 5 min 15 mins and then compare 30 mins chart etc. My take is that time has no meaning at all in trading other than when market opens at 0915 and closes at 0330. price action may remain within a 10 point range for entire 5 hours or 5 mins or 5 seconds. what really matters is that at whatever time it gets out of that range, you enter the market and then keep your stops steady at a particular value and then change it with price action NOT TIME ACTION. so your stop may remain for 1 hours or two hours at same place and all of a sudden when let us say breakout happens in 15 seconds of 50 points, then your stops which was stagnant fo 2 hours will move 3 or 4 times within that 15 seconds.

hope you got my point

So you are watching the screen all the times and manually trailing the stoploss ?? I guess that's a day trader's problem. Have to be patient yet alert.

 

[boarders]

yes, TP bhai. but when both future and options charts you compare, first signal comes in future and later options. this will we miss some early movement in options?
if you want i will post nifty fut, ce, pe charts.

this need not be the case always, like today the options moved first many a times before nifty spot or future.

 

[boarders]

So you are watching the screen all the times and manually trailing the stoploss ?? I guess that's a day trader's problem. Have to be patient yet alert.

yes i have to keep changing stops whenever the value changes in my spot chart and this can happen suddenly 3 or four times within 10 seconds or even I had to get out at market price without changing my earlier stop as it changed 5 times in 10 seconds and even hits the tsl before i can change it

 

[DanPickUp]

yes i have to keep changing stops whenever the value changes in my spot chart and this can happen suddenly 3 or four times within 10 seconds or even I had to get out at market price without changing my earlier stop as it changed 5 times in 10 seconds and even hits the tsl before i can change it

@Boarders

What you post is surely no way of trading for people with small capital. As you are doing very well, no problem for you and you do very well. But as TP told yesterday that capital gets very small in his case, I hope he not tries to copy you in your way of trading.

As you told him to do scalp trading in his situation in an other thread, may I ask you with all my respect to your trading: What rules would you recommend him to outwork now for his entries and exits to be able to survive the actual situation and be able to build up his now little capital to an other level with your recommendation?

Jumping and scalping in the market any where with no clear plan in such a situation means dead very quickly in any time.

If you feel to post about this, I guess others and specially TP surely would appreciate it. I am clear that I am not Indian and I am clear that some hate me to death in this forum like .... So would appreciate if you could sail around that.

Take care / DanPickUp

 

[boarders]

@Boarders

What you post is surely no way of trading for people with small capital. As you are doing very well, no problem for you and you do very well. But as TP told yesterday that capital gets very small in his case, I hope he not tries to copy you in your way of trading.

As you told him to do scalp trading in his situation in an other thread, may I ask you with all my respect to your trading: What rules would you recommend him to outwork now for his entries and exits to be able to survive the actual situation and be able to build up his now little capital to an other level with your recommendation?

Jumping and scalping in the market any where with no clear plan in such a situation means dead very quickly in any time.

If you feel to post about this, I guess others and specially TP surely would appreciate it. I am clear that I am not Indian and I am clear that some hate me to death in this forum like .... So would appreciate if you could sail around that.

Take care / DanPickUp

simple answer is I dont know, with regard to scalping, my intention was to tell him to enter trades as per his system but not try to wait and trail sl instead to take whatever profits he sees after costs and not wait for any target or tsl, thus build slowly again, until he has the proper capital to properly manage trades, probably I didnt explain that properly in Ravi's thread.

 

[DanPickUp]

simple answer is I dont know, with regard to scalping, my intention was to tell him to enter trades as per his system but not try to wait and trail sl instead to take whatever profits he sees after costs and not wait for any target or tsl, thus build slowly again, until he has the proper capital to properly manage trades, probably I didnt explain that properly in Ravi's thread.

Never mind. Here what I was thinking of with a live example from today in a foreign market. I had my clear target and entered in the middle of nowhere because of no patient at that moment and just being careless about the loss I planed on this trade. So the money used for the stop loss was not worth for it but it served the idea to watch where we enter any market.

Next entry was where I planed to go in and now the money for the stop loss is worth to spend and put on the table, as this is out of some where, instead a point where many are interested to get short or long.

So here rules can be applied for small account traders. As you trade your market and are good in it, guess you would know how to make a set of rules for those small traders in your place.

Take care / DanPickUp

 

[boarders]

today 6100 ce and 6200 pe

 

[boarders]

1 lot gross 1271 - cost 33 = net 1238 profit

 

[kiran_thiru]

1 lot gross 1271 - cost 33 = net 1238 profit

 

[boarders]

today 6000 ce and 6200 pe