BankNifty

#71
In options, dynamically managed approx 30 pts on intraday !

Rarely carry O/night positions in options, since we do not have Gapup / Gap down control , but since I generally book 50 % position, if in profits, so do'nt mind exiting in a few pts loss - if so happened !
30 pts in an option priced at what ? Rs.300/400 ?

But then do you manually square it off when the price reaches the SL or do you have a SL order in place ?
 

Nish

Active Member
#72
30 pts in an option priced at what ? Rs.300/400 ?

But then do you manually square it off when the price reaches the SL or do you have a SL order in place ?
Firstly, I pre-plan how much I can afford to loss on a perticular option, if the trade go wrong.

I generally enter the market only after 10:30AM - with a rare exceptions. And also check for that days, trend, MaxPain level with IVix and IV of the concerned option, OI etc .

On Monday, I prefer options 700 pts away from current strike and go on reducing in next days ! Rarely try 2000pts away strikes .
Avoid expiry day Hero or Zero game.

Mostly Avoid the trend , which the retail traders are anticipating ! :)

Now abt TSL:

After buying an option after confirmation of intraday uptrend or dntrend , I continuously monitor N or BN spot chart 15m and 5m !

( Some wks before, I have already posted a chart showing 5/15 breakout with MacD or RSI confirmation )


Then I put a sell order, which I think is posible intraday 30m chart !

If the option price move upward min 70 pts, I modify sell order and start applying TSL at 30pts below and go on trailing upward manually .

If I see any reversal sign in underlying spot price on 15m chart, book 70% position and hold balance 30%. If SL not trigger then manually book balance 30% at the prevailing price !

60% success ratio ! Some win - some loss ! I do not shy to book some loss. :)

Instead of Straddle - Strangle etc, I prefer using my extra capital with Swing trading in trending stocks !


Thats all ! Sir, I am a little-bit Newbee in option trading !

View strictly for STUDY PURPOSE !
 
#73
Firstly, I pre-plan how much I can afford to loss on a perticular option, if the trade go wrong.

I generally enter the market only after 10:30AM - with a rare exceptions. And also check for that days, trend, MaxPain level with IVix and IV of the concerned option, OI etc .

On Monday, I prefer options 700 pts away from current strike and go on reducing in next days ! Rarely try 2000pts away strikes .
Avoid expiry day Hero or Zero game.

Mostly Avoid the trend , which the retail traders are anticipating ! :)

Now abt TSL:

After buying an option after confirmation of intraday uptrend or dntrend , I continuously monitor N or BN spot chart 15m and 5m !

( Some wks before, I have already posted a chart showing 5/15 breakout with MacD or RSI confirmation )


Then I put a sell order, which I think is posible intraday 30m chart !

If the option price move upward min 70 pts, I modify sell order and start applying TSL at 30pts below and go on trailing upward manually .

If I see any reversal sign in underlying spot price on 15m chart, book 70% position and hold balance 30%. If SL not trigger then manually book balance 30% at the prevailing price !

60% success ratio ! Some win - some loss ! I do not shy to book some loss. :)

Instead of Straddle - Strangle etc, I prefer using my extra capital with Swing trading in trending stocks !


Thats all ! Sir, I am a little-bit Newbee in option trading !

View strictly for STUDY PURPOSE !
Thanks for the detailed answer.

I wonder if there is any TSL order type in Nest trader, to save the trouble of manually editing the order. Sometimes the options move simply too fast to follow.

Which broker / trading / charting software do you use ?
 

Nish

Active Member
#74
Thanks for the detailed answer.

I wonder if there is any TSL order type in Nest trader, to save the trouble of manually editing the order. Sometimes the options move simply too fast to follow.

Which broker / trading / charting software do you use ?
Angel / Do not use any option charts while trading / For underlying spot charts in N / BN / stocks , prefer investing dot com ( intraday ) .. and Chartink (EOD) .

Not subscribed for any Mnthly trading plan ! Just add 3 to option PPrice for B/Even ! Can not take load of quick scalping - Not my cuppa tea !

Keep an eye on option prices by refreshing NSE Live option page intermetently using mobile ! .

I prefer manual editing of TSL - that way, I know when to book profit - in-case trend reversal ! But some time I leave the trade on Ram-Bharose , if confident and check at 3PM !

If one think about fast option price movement, it is always better to limit the lots and leverage ! .. At the most SL get triggered , there is always another trade and another opportunity ! :)


For me, 70 % capital in Investment and 30 % in FnO to achieve that extra ALPHA factor on capital emplyoed !

View strictly for STUDY PURPOSE !
 

Nish

Active Member
#75
BN Wkly chart shows MoneyFlow and Volume indicators pointing to only some profit booking on higher side.
.. And the main BULL run is still intact !

For me , once the wkly candle start trading below 10DMA, then only some signs of BEARS upper hand may be visible. .. Till then I will concentrate on intraday B on dip and S on rise type trades using 5m and 30m TF ( Even though Daily Trend is showing some Bearish reversal ) !


View strictly for STDUY PURPOSE !
 

Attachments

Nish

Active Member
#76
BN : So my assumption was right for upside ! ... LUCKILY ! :)

As usual , checked market around 10AM. BN 10Mar 35800CE around 486.
Applied SL 30pts below around 452 ! But at 10:20 TSL got triggered ! Had baught it at 298 !

Again at 10:45 baught around 257. SL at 227 ( Days low is 238.20) ! Will monitor and exit or change SL dynamically sometime !

Now no problem ! Already got enough profit !


View strictly for STUDY PURPOSE !
 

Nish

Active Member
#77
BN 10Mar 30800CE update:

Increased TSL to 372, but got triggered around 12:30pm.
Samll profit !

So that indicates, Now I should be careful with BN long positions till this weekend, and should lookout for some BEARISH bet in BN - IF FIND an opportunity !

Waiting patiently !

Done for today !

View strictly for STUDY PURPOSE !
 

Nish

Active Member
#78
N 30m with Fibo lvls and posible direction on Long and Short side on B/out of either side.

15000 lvl does not conclude the angle of deviation - as of NOW !

Commnets on the chart.

View strictly for STUDY PURPOSE !
 

Attachments

Nish

Active Member
#80
BN bigger picture of posible moves on WEEKLY basis is shown in ATTACHED chart of 01Apr2021 close, which I may consider for my trading , for next few days.

On 4hr chart, the scene looks a bit Bullish, but ONLY on intraday basis, which I may avoid or may play with strict SL of 33000 with a posible target range of 34450 to 35160 .

View strictly for STUDY PURPOSE !
 

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