3rd Innings trades (August 2013)
1. Bought 200 Nifty 5700 CE at Rs. 97 and sold at 54, approx loss Rs. 8,700
Analysis: failed to use proper stop loss hoping for the trend to reverse and recovering the loss. Greedy..:annoyed:
2. Bought 150 Nifty 5600 PE at Rs. 87 and sold at 134, approx profit Rs. 4,650
Analysis: Closed CE and bought PE at the right time and made decent profit.
3. Bought JP 32.5 call at 2.50, the call was down to 2.00, Bought JP 30 PE at 2.00 expecting a big move in JP either side. Total cost of the straddle 4.50. Exited straddle at 3.70 and booked Rs. 3,200 loss.
Analysis: When the trade is in loss, I should have closed the position to minimize the loss. Tried to act smart by hedging the position with put, but no significant movement in JP.
to be continued....