A Copycat Thread

[Trader4242]

Hi

Wanted to track the strat being used by Linkon.

Did not want to confuse others by posting my trades on his thread.

So doing it here.

Short Strangle

Nifty Put SP 4800 CMP 109
Nifty Call SP 5000 CMP 106
No position on futures

Nifty Spot 4914


Will be tracking the NF trades using 15 Minutes Charts.

 

[Trader4242]

Stop order for buying Nifty (Feb series) is at 4930

Stop order for selling Nifty (Feb series) is at 4870

 

[Trader4242]

Stop order for buying Nifty (Feb series) is at 4930

Stop order for selling Nifty (Feb series) is at 4870

Short order was about to trigger safe for now but just about.

Shifting the Stop on Long order to 4910

 

[Trader4242]

Short order was about to trigger safe for now but just about.

Shifting the Stop on Long order to 4910

Triggered, Now short @ 4870

 

[Trader4242]

Wow what a reversal . . .

Now the stop at 4910 also becomes the SAR Level :thumb:

 

[Trader4242]

Hi

Short Strangle

Nifty Put SP 4800 CMP 109
Nifty Call SP 5000 CMP 106

At the time of initiating the trade the total cost of the strangle was 215

Now the combined cost is 223 and the short trade on nifty is in the money

Already thinking about aproaching this trade differently, will talk about it after 3:30

 

[Trader4242]

Now the stop at 4910 also becomes the SAR Level :thumb:

Shifting SAR to 4903

 

[Trader4242]

Hi

Nifty Feb Close @ 4832, Short from 4870, SAR @ BE provided tomorrow we don't have a Gap UP open above that level

The numbers so far: 215 + 38 - 6 = 247

During the day the stops just missed getting hit as I was carying position of Feb futures and Feb series was at some discount to Jan. Staying always in such a volatile market with small stops is tougher than it looks, definately not suitable to my temprament

I think I should have a different approach to this kind of trade. I should leg in to the position rather than creating all the three legs at one go. One thing that has caught my attention is if the current trading range is far aways from the strike price we have selected for our short Strangle / Straddle managing it becomes super easy.

But how do we initiate our short to be aways form the current action

Need to read up more on this and yes no substitute for experiance.

 

[Trader4242]

Setting the stop for Nifty Future Long 4903 . . .

 

[Trader4242]

Setting the stop for Nifty Future Long 4903 . . .

Stopped and Reversed @ 4895, now carying Nifty Future Long

Booked Loss on the Short trade -27 points

Current Position
Short Nifty Put SP 4800 @ 109
Short Nifty Call SP 5000 @ 106

Total Premium Collected +211 Points


Feb Nifty Future Long @ 4895

Nett PL booked on Nifty Position -27 Points