Escape's Options Trading Diary - Phase 2

What are you preferred indicator to decide trade?


  • Total voters
    150

escape

Well-Known Member
#21
Hi Escape,

Keep up the good work. You seem to be very disciplined in your trades & log keeping. Would it help if you could also give reasons for positions taken? Just a suggestion.
Thank you smartrader. I have learnt from forum and other sources that discipline is most important factor, this controls emotion. I'm still in learning phase and keeping logs helps me to analyze what went wrong or to know what are improvement possibilities.

Regarding reason for positions, it would be mostly either of two below:
1. Momentum (big candle, or breakout from previous high)
2. Support Level

Here is reason for last trade:
Last trade entry was based on support level. Until 9:40, 88-89 was showing good support, I bought little above support level i.e. 90. Although it didn't able to manager that level and went down after that. My SL was 81, and price made low of 81.65, and took U-turn and you know result later on.

Your suggestion is good, but during trading hour it would be difficult to write reason as I have to keep watch on price movement. Hope you understand.
 
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escape

Well-Known Member
#24
Here is log as of last session.

Log:
NIFTY 27Sep12 PE 5500.00 (B)100 @ 90.00 (S)100 @ 93.00 (P/L) +300.00 (R) bought at support level

Result:
After deducting all charges: Rs +282.90

Capital Status for the current month:
Exact Initial Capital: Rs. 45,000/-
Current Ledger balance Rs. 43319.47 (-1680.53)

Learning/Remark:
My initial entry was ok, but I didn't exited even after noticing sign of reversal. But my initial stop loss which I didn't trailed kept me in trade in trade and later on had profit of 3 points.

(R) = Reason for trade
 
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#26
Here is log as of last session.

Log:
NIFTY 27Sep12 PE 5500.00 (B)100 @ 90.00 (S)100 @ 93.00 (P/L) +300.00 (R) bought at support level

Result:
After deducting all charges: Rs +282.90

Capital Status for the current month:
Exact Initial Capital: Rs. 45,000/-
Current Ledger balance Rs. 43319.47 (-1680.53)

Learning/Remark:
My initial entry was ok, but I didn't exited even after noticing sign of reversal. But my initial stop loss which I didn't trailed kept me in trade in trade and later on had profit of 3 points.

(R) = Reason for trade
Please provide NS and NF support levels while writing the log. Thanks
 

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