Banknifty SureShot Intraday Strategy without any analysis

#73
I think this strategy is working...i tried paper trade today on optionstracker.net ..
the strategy has yielded an Intraday profit of Rs.2496/-

bnf-strategy1.JPG


I shall continue to paper trade this for another 2 months before i decide upon in trading in my real account.
 
#74
Dear @fnoprofit46,

Glad to see that you are paper trading and plan to do so extensively, certainly, that will give you the big picture. More importantly thanks for sharing your idea.

Could you explain why you made profit today and your thoughts when it could go against you?
 
#75
I think this strategy is working...i tried paper trade today on optionstracker.net ..
the strategy has yielded an Intraday profit of Rs.2496/-

View attachment 28455

I shall continue to paper trade this for another 2 months before i decide upon in trading in my real account.
Thanks for posting this...Not sure I understand this as the price of BNF is not mentioned at the time of Short call and Put sell.
Seems you Sold ITM call & Put on the same day week (19 Sept) and then you bought Future (for 27 Sept).
If you can explain the rational on this please?
 
#76
Dear @fnoprofit46,

Glad to see that you are paper trading and plan to do so extensively, certainly, that will give you the big picture. More importantly thanks for sharing your idea.

Could you explain why you made profit today and your thoughts when it could go against you?
The basic idea is to keep a part (or all?) of the premium (as profit) with you and hedge it with futures.
Now, i believe I made a profit in this case is because i modified this strategy. Instead of considering the below mentioned logic,

HL = BNF Spot + 20 Points
LL = BNF Spot - 20 Points

Go Long in Future if BNF Fut > HL
Go Short in Future if BNF Fut < LL

I had a look at the BNF charts - Time frame 15 mins, and considered the 10 AM candle. Drew a line at the High of 10 AM candle & drew another line at the Low of the 10 AM candle. This was my band for the Buy or sell..

Now if the 10:15 candle closes above the High Line of 10 AM candle, then as per my view there is an uptrend and BNF Fut becomes a "buy" and same goes vice versa for BNF Fut Sell.

By doing this the levels for going Long or Short are as per each trading day's movement in BNF, rather than trying to fit them in a point based trade. As per my view we shall be able to reduce the choppiness and have a smooth trade. We can always keep a trailing SL on BNF Fut and Lock in on the profits. (or we can put stops at either of the two levels i.e. SL at low of 10:15 candle or if you are an aggressive trader then you can keep a low of the 10 AM candle as the SL for BNF Fut)

Hope this answers your query!
 
#77
Thanks for posting this...Not sure I understand this as the price of BNF is not mentioned at the time of Short call and Put sell.
Seems you Sold ITM call & Put on the same day week (19 Sept) and then you bought Future (for 27 Sept).
If you can explain the rational on this please?
This is Suryameet's original strategy, you can read this thread from the beginning to know more.
Just to share with you, weekly options premium's shall erode faster as the time value is lesser.

Future is a Hedge (for protection of the "Profit" premium received).
Hope this helps clarify your query
 
#78
The basic idea is to keep a part (or all?) of the premium (as profit) with you and hedge it with futures.
Now, i believe I made a profit in this case is because i modified this strategy. Instead of considering the below mentioned logic,

HL = BNF Spot + 20 Points
LL = BNF Spot - 20 Points

Go Long in Future if BNF Fut > HL
Go Short in Future if BNF Fut < LL

I had a look at the BNF charts - Time frame 15 mins, and considered the 10 AM candle. Drew a line at the High of 10 AM candle & drew another line at the Low of the 10 AM candle. This was my band for the Buy or sell..

Now if the 10:15 candle closes above the High Line of 10 AM candle, then as per my view there is an uptrend and BNF Fut becomes a "buy" and same goes vice versa for BNF Fut Sell.

By doing this the levels for going Long or Short are as per each trading day's movement in BNF, rather than trying to fit them in a point based trade. As per my view we shall be able to reduce the choppiness and have a smooth trade. We can always keep a trailing SL on BNF Fut and Lock in on the profits. (or we can put stops at either of the two levels i.e. SL at low of 10:15 candle or if you are an aggressive trader then you can keep a low of the 10 AM candle as the SL for BNF Fut)

Hope this answers your query!
I Missed answering your question - when could there be losses -

Losses can occur if there are sudden moves in either direction (like 800-1000 points move in BNF - probability of this is around 1% based on my understanding). If this occurs and the SL for the Fut gets hit we reverse the Fut trade to minimize the losses.

So this strategy can give profits in a range bound market.

Hope this helps.
 

mehtaka

Active Member
#79
I think this strategy is working...i tried paper trade today on optionstracker.net ..
the strategy has yielded an Intraday profit of Rs.2496/-

View attachment 28455

I shall continue to paper trade this for another 2 months before i decide upon in trading in my real account.
Hello,
Just wanted to know call/put we need to select the same strike price? as the stratergy says ITM/ATM. so when the BN is 27150, 27100 call becomes ITM and 27200 PE become ITM..
 

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