Day Trading Stocks & Futures

[TraderGYO]

Sold a 26400 | 26000 put spread on BN 21th June expiry.

Initially received about 122 points, closed for just above 97 points today. I will explore credit spreads further it suites my style.

 

[suryameet25]

Anyone here who can put comments on this one also:
http://www.traderji.com/community/threads/help-me-to-understand-this-trading-technique.106584

 

[Raj232]

I think I need to rethink my trading career . Even after 5 years of trading I am doing same mistakes. Not following stop losses and letting the losses run.

Believe it or not, I make the same mistakes, so I'm trading small, not infusing any more capital !!!
I usually miss all the best setups and the big moves, the rest is small profits and small losses ... again.. the only solution is automating the strategy .. very difficult to beat the algos and computers that trade without human emotion .. my 2 cents...

... anyways no trading done by me today..

All brokers will be closing retail shorts 3:10 PM onwards @ Rs 26600 levels approx and the pain will be a lot for those who were short from Rs 26300 levels earlier today on leveraged trades !!!


Confession: I was tempted to buy BN 26400 PE at 2:15 PM @ Rs 60 ... but now..at 3:15 PM.. it is Rs 20

 

[Raj232]

you could have sold a put (or bought a call) after the future entry and continued aggressively adding PUT sells till your loss is reduced. (or) bought next month future of reliance ... till you reassess the situation ..

... that means trading in small quantities.. not with full capital .. retail traders use futures to use the 10 times leverage as well

 

[pannet1]

Believe it or not, I make the same mistakes, so I'm trading small, not infusing any more capital !!!
I usually miss all the best setups and the big moves, the rest is small profits and small losses ... again.. the only solution is automating the strategy .. very difficult to beat the algos and computers that trade without human emotion .. my 2 cents...

... anyways no trading done by me today..

All brokers will be closing retail shorts 3:10 PM onwards @ Rs 26600 levels and the pain will be a lot for those who were short from Rs 26300 levels earlier today on leveraged trades !!!

I am not disagreeing with you .. but you realise the deception of the mind ...when you note down all the trades you would have taken as per your trading system in an excel (or something). the exits (both stop loss and profit taken) ... define the rules ..... like you will tell to an algo maker ..... do not break rules and exit prematurely or late when you run in profit ......

visually see the charts for one month .......... and note down the trades ....... if you are successful by a vast amount ... after adding slippages, brokerage and taxes ....... then you are in business

when i did this excercise ........ on my system ..... except one or two stocks ........ many failed to give profits .. which i was believing to be great profitable system.

you will ... thank me later .. for this

 

[pannet1]

... that means trading in small quantities.. not with full capital .. retail traders use futures to use the 10 times leverage as well

i think nik is well funded ...... i still believe he is one of the successful trader here . believe he had accumulated enough to bear this loss .......

so he sold the future
position goes against
buy damage control trades
(sell puts, buy calls, buy next month future).
now after seeing damage control trades in green..
he could aggressively build on it ....

i could not because i am struck up in equity cash and had to over hedge it with futures ... and if hedge goes against .. could not really trade more equity to damage control that ....

(ABOVE ALL THIS, HE COULD CARRY FORWARD IT NEXT DAY ..IF I AM NOT LEVERAGED ..... WE PROTECT THE LOSS FROM EXCEEDING BY BUYING NEXT MONTH FUTURE ...... WE CAN DEFINITELY FIGHT THIS BETTER TOMORROW ... RATHER THAN TAKING THE LOSS)

 

[nitingosavi]

My Banknifty futures short @ 26405 and banknifty 26400 call buy @ 131 carried forward since two days
story ended like this..

blue lines- covered short @ 26355 & @25520
red line- shorted again. @26500
Pink line-- booked calls @210

missed good profit that was yesterday due to carrying forward.
overall got something but lost major gain.

 

[SarangSood]

Was a good day for writing as the ATM straddle lost around 100 points today. Though the cost of delta management was high today still the day ended well. Have booked out majority of my position.

 

[Raj232]

after adding slippages, brokerage and taxes

thanks already ...
I'm aware.. the main catch is here.. after adding slippages, brokerage and taxes ....... then you are in business
thats why biggies did not want trading on SGX, because the cost of trading was way lower and without most taxes than trading on BSE/NSE/GIFT.

.. my intention would be not to do too many trades but just a few in an automated way. eg when big move is expected

 

[sanju005ind]

ME bought 9500 PE 1 Lot of August Expiry for the fun of it.Had about 950 in an old account.did not know what to do with it.