Long 10 years: Finally started Diary

jassinko

Well-Known Member
#11
i forgot to thanks one more important person due to whom i was in profit in my 8th jouney.....STOCK72............ but i didnt act as per his advice and then i started losing............ sorry Stock sir for letting u down.........

will write this story later...... Also now OMSAI, Manoj, Escape, Khattekar sir also helped me by replying my private messages earlier when i was in panic........

My belief is that when a person become successful or atleast start his jouney as one then we dont know how many small helps or big help helped that person ...like what shown in movie LUCK By CHANCE.......... so i want to thank everyone that atleast i realized my mistakes ..........

i dont have proper words to thank TRADERJI and all his members........ I know it is looking like VICTORY speech whereas i took only small first step and infact didnt earn a penny yet but WHAT WE BELIEVE IN, IS WHAT WE GET......... BE POSITIVE, ACT POSITIVE, THINK POSITIVE nad U WILL GET POSITIVE
 

kiran_thiru

Well-Known Member
#12
hi Kiran,

if i sell call then it will be a pure bearish stance.......but i short put as a hedge.....

my SL is 15550 in spot...if it consolidate there but then my lose will be more than 3k which i dont want so i sold put...then my loss will be 2-2.5k in above case and further low loss if happens after a week........

i know my profit will be suffered but i want to be disciplined or want consistent profit...thats my goal.....amount will be second stage...:thumb:
yes, you are right. my thought was wrong.

all the best. :thumb::thumb::thumb:
 

jassinko

Well-Known Member
#13
First trade i took on Thursday:

Starting capital: Rs. 50,000

Sold Banknifty Future August @ 15570
Sold Banknifty 15500 Put August @ 365

Margin Used: 42,000 in zerodha

Traget: want 2000 by next week...... or SL: 2000

Reason: Market topped and due to volatile expiry....market may dipped to 15200...and if not till 15500 i m safe....
Exited at my target.......:clap:

Bought Banknifty Future August @ 15400
Bought Banknifty 15500 Put August @ 430

Total Profit - 2625 (excluding brokerage and taxes)

Though i want to sold it after EID for some more profit (but cant predict markets so exited at target):confused:

GUIDANCE, SUGGESTIONS and COMMENTS welcome from all:)
 

jassinko

Well-Known Member
#14
Exited at my target.......:clap:

Bought Banknifty Future August @ 15400
Bought Banknifty 15500 Put August @ 430

Total Profit - 2625 (excluding brokerage and taxes)

Though i want to sold it after EID for some more profit (but cant predict markets so exited at target):confused:

GUIDANCE, SUGGESTIONS and COMMENTS welcome from all:)
would have earned 20 more points in last hr, so is my exit wrong??
i exited bcoz it was looking like it is taking support here....seniors pls guide
especially S/R gurus like TP, ST da,and many others
 
#15
would have earned 20 more points in last hr, so is my exit wrong??
i exited bcoz it was looking like it is taking support here....seniors pls guide
especially S/R gurus like TP, ST da,and many others
baba, I am no guru. I am perhaps the biggest loser here.
Anyway, I think that you had a good exit. Don't look for bottom fishing.
 
#16
Hello

Nice Trade. :clapping:

Great entry into the trade and good discipline to exit on target as decided before entering the trade. (don't worry about 20 or even 200 points)

Now that your trade is closed, as a learning exercise, you should look at the different choices about how you could have managed the trade. The hedged position you created can be called as Synthetic Short Call. for e.g. do check what would have been the results if you had shorted calls of different SP. If you will be trading with fixed target/SL amounts, you should look at the choice of using a short call. Your current position had an advantage if you wanted to manage the trade dynamically.

for e.g.

1. covering only the leg in loss and continuing with the profitable side etc. or
2. covering the short future and buying 2 lots of Put Option same SP
3. covering the short future & short Put and shorting a Call Option

(the above will allow you to let the profit run, but do note that here
choice 1 would double your delta/exposure but 2/3 will keep it same)

Another way to manage the trade (something that i would choose), is managing the hedged/swing trade during the day with an intraday perspective (choice 1, above) but as you don't have that kind of time, its better to stick to square off both legs or 2/3.


Wishing you best for you current round of trading. :thumb:


Happy :)
 

jassinko

Well-Known Member
#17
Hello

Nice Trade. :clapping:

Great entry into the trade and good discipline to exit on target as decided before entering the trade. (don't worry about 20 or even 200 points)

Now that your trade is closed, as a learning exercise, you should look at the different choices about how you could have managed the trade. The hedged position you created can be called as Synthetic Short Call. for e.g. do check what would have been the results if you had shorted calls of different SP. If you will be trading with fixed target/SL amounts, you should look at the choice of using a short call. Your current position had an advantage if you wanted to manage the trade dynamically.

for e.g.

1. covering only the leg in loss and continuing with the profitable side etc. or
2. covering the short future and buying 2 lots of Put Option same SP
3. covering the short future & short Put and shorting a Call Option

(the above will allow you to let the profit run, but do note that here
choice 1 would double your delta/exposure but 2/3 will keep it same)

Another way to manage the trade (something that i would choose), is managing the hedged/swing trade during the day with an intraday perspective (choice 1, above) but as you don't have that kind of time, its better to stick to square off both legs or 2/3.


Wishing you best for you current round of trading. :thumb:


Happy :)
Thanks for so much deep knowledge HAPPY......it took some time for me to understand properly but now I got ur points finally:

and here are my replies/observations/queries to ur points.... pls guide did i miss something?

do check what would have been the results if you had shorted calls of different SP.
i looked before entering the trade for possible short candidates... since aug expiry is still month away and it is not as liquid as nifty so strikes like 15100-15400 or 15600-15900 were not very active....ideal candidate (if liquid) was 15600 because that was nearest to my SL.....

also max OI that time was at 15500 and 15000.......so thats a reason for chosing that strike..........i think that was a good decision

1. covering only the leg in loss and continuing with the profitable side etc.
yes..that i was also thinking but i was not confirmed on support and resistances levels so played safe......... but yes in future, this is a point where i have to work.....thanks

2. covering the short future and buying 2 lots of Put Option same SP
i burned my fingers many times by buying options (so no naked buying option) and i was not very sure about how much downside is left.......b/w u want to say i should have covered both positions and would have bought 1 lot of 15500 Put...rt? if so.. abv answer is my reply else pls explain

3. covering the short future & short Put and shorting a Call Option
yes that is a good suggestion but i was not convinced abt more downside so shorting call alone was not looking good........but i was thinking of covering future but leaving shorted put and shorting one lot of same SP call........ seniors pls suggest, will that be a neutral strategy......

but do note that here
choice 1 would double your delta/exposure but 2/3 will keep it same)
i didnt get it properly...pls if u have time...do explain this with some eg..thanks in advance

finally u r rt...i can chose intraday perspective....but i have to improve on this.......thnaks for such an insightful post.........u exactly wrote what i was looking for to improve myself..........thanks
 

jassinko

Well-Known Member
#18
baba, I am no guru. I am perhaps the biggest loser here.
Anyway, I think that you had a good exit. Don't look for bottom fishing.
yes thanks TP.....this is a mistake i did in past and thats an urge i have to control...... for gaining some points, sometime we lose more.....

thanks for reminding of my discipline.......:)
 
#19
Forgot to say......Comments, any guidance, expertise invited..... in fact it will be honor if experienced players will give some suggestions..... since i m working as banker so cant trade regular so best way is positional or wing trade........ Goal is to achieve profit consistently......%age, amount not necessary in first stage....
All my best wishes for the success of this thread and your journey in trading...

Smart_trade
 

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