Trading for Living -- Successfully Completed one year as Full Time Trader

[senthilan]

So many people chose UAE as a best option for trading even I have known couple of friends trading from UAE. Nice to know and my confidence level increased by reading this. Thanks a lot for story and all the best.

oh! Great to hear mate, if i impact any way in your trading journey, i am really happy with it, Thank you

 

[pannet1]

So many people chose UAE as a best option for trading even I have known couple of friends trading from UAE. Nice to know and my confidence level increased by reading this. Thanks a lot for story and all the best.

my guru says, confidence without clarity is dangerous.

1st forex trading without indian exchanges is illegal

2nd spreads are wide and its very difficult to win with most of these brokers.

3rd if the broker is cheating you ... you can't complain because your doing something illegal.


i am not discouraging you .. but the odds are too much against us ... if senthil is doing i believe he has been abroad and hence he can use the foreign income to trade.

 

[sreperu]

my guru says, confidence without clarity is dangerous.

1st forex trading without indian exchanges is illegal

2nd spreads are wide and its very difficult to win with most of these brokers.

3rd if the broker is cheating you ... you can't complain because your doing something illegal.


i am not discouraging you .. but the odds are too much against us ... if senthil is doing i believe he has been abroad and hence he can use the foreign income to trade.

it's not only forex, people are trading in NSE and BSE from UAE. Thanks for the info.

 

[superman]

@amrutham : How did you survive yesterday's move ? Its 2SD move
It rose like a rocket !

 

[amrutham]

@amrutham : How did you survive yesterday's move ? Its 2SD move
It rose like a rocket !

Yesterday , it was a loss day MTM wise(around 7K in each Z account) . Mainly it was because of outstanding NF positions, which I adjusted quickly.

Still I fell yesterday's kinds of moves are manageable, since market was raising gradually, instead of big gap up.

How was your day?

 

[superman]

Yesterday , it was a loss day MTM wise(around 7K in each Z account) . Mainly it was because of outstanding NF positions, which I adjusted quickly.

Still I fell yesterday's kinds of moves are manageable, since market was raising gradually, instead of big gap up.

How was your day?

Loss both in Banknifty and Nifty short strangles Weekly BN positions caused some pain ; Perhaps 3-4 weeks profits gone ,,

I exit/trade only at EOD(3:15). In some days like these, I will regret taking positions only at EOD.

 

[SarangSood]

The strangle isn't holding this week. The moment i enter there is a loss or long period of no profits. But because my trading method is such that i take small trades very frequently and add them only in profits my position wasn't able to build. So the loss is very minimal. Let's hope there is a run somewhere tomorrow and the position is able to build.

 

[anildnr]

Loss both in Banknifty and Nifty short strangles Weekly BN positions caused some pain ; Perhaps 3-4 weeks profits gone ,,

I exit/trade only at EOD(3:15). In some days like these, I will regret taking positions only at EOD.

Not sure, what are the strikes you have shorted..but i feel same like amrutham and we can manage short strangles in intraday until and unless we have sudden shocks. Generally for BN weekly options short strangles i follow below rules whether it is profit or loss.

1. For Friday and Monday..short both AT the money call and put say for 150 and 150 make sure that keep SL at 30-40 away for both. say for SL buy order at 180-190. I dont keep 5-10 rupees away because small fluctuations can hit the SL. If we keep 30-40 rupees away and if any SL hit then that means mostly BN is moving that side. we can exit the 2nd order and overall it will be in either small profit or small loss.

If SL does not hit, then atleast we can get 5-10 rupees by EoD in most of the cases until and unless any planned events are there in that week.

Dont try with ITM options sell as difference between bid and ask prices is more. and dont try with OTM as we can expect much depreciation on these days especially on Friday.

2. For Tuesday and Wednesday i will do the same but SL at 20 points only. Mainly on Tuesday i will try with naked deep out of the money calls/puts.
Wednesday premiums will be depreciated very fast. So i feel selling atm calls and puts at beginning of the day and taking out for every 100 points will make u the best.

3. Thursday dont go for sell out of the options which are trading at 1-5 rupees as nothing we can get from those except sometimes biglosses go for atm calls and puts sell


Note: All these wont give much losses in normal conditions. But as i told sudden shocks are excpetions

 

[amrutham]

Made one more adjustment to this position.

NF Spot @ 11655

Buy 11100 PE 450 Qty @ 2.5
Sell 11700 PE 225 Qty @ 65

Credit = 13.5K

Net credit for the position = around 50K

Outstanding position.

Sell 11400 PE 225 Qty
Sell 11600 CE 225 Qty
Sell 11700 PE 225 Qty

11400 PE expired worthless.

Closed 11600 CE and 11700 PE with combined premium of 90.

Net profit on the position = around 30K

 

[amrutham]

Entered into below BN butterfly for Aug expiry.

BN Spot @ 28200

Buy BN 28200 CE 600 Qty @ 146
Sell BN 28300 CE 1200 Qty @ 100
Buy BN 28400 CE 600 Qty @ 65

Net Debit = 11*600 = 6.6K

A break-even trade. Hedged the position with 28100 CE in the morning and all the legs expired worthless.