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Long 10 years: Finally started Diary

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  #1  
Old 26th July 2014, 03:10 PM
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Default Long 10 years: Finally started Diary

I am in trading from last 10 years but lost tons of money. Tried 8 times:
1. Opened account in July 2004 with indiabulls and earned quite a bucks in few weeks and then lost all due to my broker's ill advices.
Learning: Understand market and then enter

2. Started again in 2006 and searched net, learned few techniques, opened account here and learned about futures. Entered again in market and in few days, lost all in nifty futures.
Learning: diversified in future

3. Started again soonafter and lost all again in few weeks....this time over diversification and more lost.....
Learning: Take a break, read more and learn more

4. Started again 2008...this time in options........ruined my money many times over and over again
Learning: 98% option players lose

5. Started in 2009 with bigger capital...use all knowledge, option chains, other markets, indicators, mix of equity, futures, options........earned well and then in one stroke...lost all..............
Learning: Lack Discipline......did everything using my knowledge but didnt have discipline and patience......cut winners early and hold loosers for long.......

6. Started again in 2011 with some help from tipsters but..........again lost due to lack of discipline........
Learning: Learn from past and dont repeat mistakes

7. Started again in 2013.......sold options ......doubled my capital and lost all again in one stroke due to one past mistake.........Lack of discipline......no SL, averaging and hoping
Learning: None......if i have to do same mistake then whats learnings......none

Then Started reading positive books, started discipline in real life, read more and more., started reading and learning human pschology, how mind works, how behaviours respond, etc.......

8. started in 2014 in commodities but lost 3 times my small trading capital ..... didnt learned yet .....no discipline......

9. Now for making me discipline, first step i took is to involve my wife and told what i m doing, its implications and rules of trading; second step i m taking is to maintaining trading diary here and on my excel.......
Requesting seniors and experienced players like Saint sir, ST da, Raj (big fan of ur option chain analysis). TR (for keeping humour alive), Madhav Reddy (Commodity expert alongwith Discipline), Amit (fan of ur fundamentals), TP and many others here whom i m reading silently from many years

Hope U will guide me too like u guided many others......

Jassi
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  #2  
Old 26th July 2014, 03:14 PM
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Default Re: Long 10 years: Finally started Diary

All the best for your new inning
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  #3  
Old 26th July 2014, 03:22 PM
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Default Re: Long 10 years: Finally started Diary

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....
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  #4  
Old 26th July 2014, 03:27 PM
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Default Re: Long 10 years: Finally started Diary

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....
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  #5  
Old 26th July 2014, 03:43 PM
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Default Re: Long 10 years: Finally started Diary

Quote:
Originally Posted by jassinko View Post
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....
all the best for new step.

what is the strategy to took this straddle. if you want safe trade, then you sold ce instead of pe.
i think my suggestion may be wrong, but i think this is safe play.
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  #6  
Old 26th July 2014, 04:08 PM
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Default Re: Long 10 years: Finally started Diary

Quote:
Originally Posted by jassinko View Post
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....
You can keep these two open positions overnight with 42000 margin with Zerodha ?? Their margin calculator says 62000.



I guess that 47000 is for intraday. What is that "margin benefit" thing ?

Also, for 2000Rs. profit, you are going to need a profit of 80 pts.

Last edited by timepass; 26th July 2014 at 04:16 PM.
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  #7  
Old 26th July 2014, 10:37 PM
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Default Re: Long 10 years: Finally started Diary

best of luck bro .
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  #8  
Old 27th July 2014, 08:37 AM
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Default Re: Long 10 years: Finally started Diary

Quote:
Originally Posted by jassinko View Post
I am in trading from last 10 years but lost tons of money. Tried 8 times:
1. Opened account in July 2004 with indiabulls and earned quite a bucks in few weeks and then lost all due to my broker's ill advices.
Learning: Understand market and then enter

2. Started again in 2006 and searched net, learned few techniques, opened account here and learned about futures. Entered again in market and in few days, lost all in nifty futures.
Learning: diversified in future

3. Started again soonafter and lost all again in few weeks....this time over diversification and more lost.....
Learning: Take a break, read more and learn more

4. Started again 2008...this time in options........ruined my money many times over and over again
Learning: 98% option players lose

5. Started in 2009 with bigger capital...use all knowledge, option chains, other markets, indicators, mix of equity, futures, options........earned well and then in one stroke...lost all..............
Learning: Lack Discipline......did everything using my knowledge but didnt have discipline and patience......cut winners early and hold loosers for long.......

6. Started again in 2011 with some help from tipsters but..........again lost due to lack of discipline........
Learning: Learn from past and dont repeat mistakes

7. Started again in 2013.......sold options ......doubled my capital and lost all again in one stroke due to one past mistake.........Lack of discipline......no SL, averaging and hoping
Learning: None......if i have to do same mistake then whats learnings......none

Then Started reading positive books, started discipline in real life, read more and more., started reading and learning human pschology, how mind works, how behaviours respond, etc.......

8. started in 2014 in commodities but lost 3 times my small trading capital ..... didnt learned yet .....no discipline......

9. Now for making me discipline, first step i took is to involve my wife and told what i m doing, its implications and rules of trading; second step i m taking is to maintaining trading diary here and on my excel.......
Requesting seniors and experienced players like Saint sir, ST da, Raj (big fan of ur option chain analysis). TR (for keeping humour alive), Madhav Reddy (Commodity expert alongwith Discipline), Amit (fan of ur fundamentals), TP and many others here whom i m reading silently from many years

Hope U will guide me too like u guided many others......

Jassi
Quite a journey Jassi... Winners are the one who never lose hope.

All the Best
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  #9  
Old 27th July 2014, 12:22 PM
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Default Re: Long 10 years: Finally started Diary

Quote:
Originally Posted by kiran_thiru View Post

what is the strategy to took this straddle. if you want safe trade, then you sold ce instead of pe.
i think my suggestion may be wrong, but i think this is safe play.
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...
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  #10  
Old 27th July 2014, 12:26 PM
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Default Re: Long 10 years: Finally started Diary

Quote:
Originally Posted by timepass View Post
You can keep these two open positions overnight with 42000 margin with Zerodha ?? Their margin calculator says 62000.



I guess that 47000 is for intraday. What is that "margin benefit" thing ?

Also, for 2000Rs. profit, you are going to need a profit of 80 pts.
Hi TP..

Margin benefit is that i took hedged position....Zerodha subtracts option received further....so now my margin blocked will be around 40k......

if i have took these positions in different accounts then margin blocked will be 62k-8k received = 54k margin blocked but i took in same account and it act as hedge so margin block is low.....
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