!!! Om Shree Ganeshaya Namah !!!
Escape's Options Trading Diary - Phase 2
Objective:
To have 5% profit of capital at the end of month after paying all charges.
My initial capital at the start of month will be Rs. 45,000. I should be able to make profit of Rs. 2,250 after paying monthly brokerage of Rs. 2,188 + other charges.
I'm not considering cost of Internet, System, Desk and any other miscellaneous charges.
Strategy:
This is naked Option trade (so no hedgings, no Options strategies).
I'll square of end of days irrespective of result or outlook for tomorrow.
Buy(B):
I'll buy 2 lots at support level or at confirmation of momentum (will place order around 2 points above current resistance level).
Stop Loss (SL):
I'll have two SL losses, one for each lot, so I will have two different EXITs most possibly.
Second SL will be 2 or 3 points below first SL or may remain same as initial SL.
Target/Exit(S):
First ideal target will be around 8-10 points or SL hit or just EXIT at CMP.
Second ideal target will be around 14-15 points or SL hit or just EXIT at CMP.
Other Details:
My initial capital at start of each month will be Rs. 45,000.
I'll be buying two lots of NIFTY per trade. I can have multiple trades.
My broker is RSKV, so monthly charges for brokerages is Rs. 2188 + Other Taxes.
I'll try to post my trade as soon as possible (if feasible) or before start of next trading day.
I'll be having strict intial stop loss and it will trail up.
My stop loss may change frequently or with very next time-frame (I don't expect it will be viable to post stop loss so frequently in forum).
Result Expected:
On last trading day of each month, I should have profit of 5% of capital on 1st day of month, after paying all charges.
I'll be resetting initial capital to Rs 45,000 on first on every month.
I expect Phase 2 to last for around 2-3 quarters.
Challenges:
Managing two stop losses.
Two SLs may confuse me, may have psychological emotional effects.
Expectations from forum members:
Honest feedback and encouragement so as to improve my methodology.
If you have some suggestions to modify above strategy or methods, please let me know.
If some forum members wants to follow my call, please follow at your own risk. I'm not an expert.
Example of my call/trade :
Buy/Bought Nifty 5300 CE @99.00, Stop Loss @89.00.
1) You can buy at Rs. 99.00 or above. Initial Stop Loss @ 89.00.
2) Once you are into trade, must follow stop loss to exit. You may set target of 8-10 points to exit (if I fail to post updated stop loss).
SL format:
SL @140/142, CMP 144 (means SL for first lot is 142, SL for second lot is 140)
SL @142, CMP 144 (means SL for all or remaining lot is 140)
Remember, this is just my trading dairy.
If any one interested, please keep an eye on this thread.
I hope good wishes from forum members.
:thanx:
Phase 1 URL: Escape's Trading Diary - Options
Escape's Options Trading Diary - Phase 2
Objective:
To have 5% profit of capital at the end of month after paying all charges.
My initial capital at the start of month will be Rs. 45,000. I should be able to make profit of Rs. 2,250 after paying monthly brokerage of Rs. 2,188 + other charges.
I'm not considering cost of Internet, System, Desk and any other miscellaneous charges.
Strategy:
This is naked Option trade (so no hedgings, no Options strategies).
I'll square of end of days irrespective of result or outlook for tomorrow.
Buy(B):
I'll buy 2 lots at support level or at confirmation of momentum (will place order around 2 points above current resistance level).
Stop Loss (SL):
I'll have two SL losses, one for each lot, so I will have two different EXITs most possibly.
Second SL will be 2 or 3 points below first SL or may remain same as initial SL.
Target/Exit(S):
First ideal target will be around 8-10 points or SL hit or just EXIT at CMP.
Second ideal target will be around 14-15 points or SL hit or just EXIT at CMP.
Other Details:
My initial capital at start of each month will be Rs. 45,000.
I'll be buying two lots of NIFTY per trade. I can have multiple trades.
My broker is RSKV, so monthly charges for brokerages is Rs. 2188 + Other Taxes.
I'll try to post my trade as soon as possible (if feasible) or before start of next trading day.
I'll be having strict intial stop loss and it will trail up.
My stop loss may change frequently or with very next time-frame (I don't expect it will be viable to post stop loss so frequently in forum).
Result Expected:
On last trading day of each month, I should have profit of 5% of capital on 1st day of month, after paying all charges.
I'll be resetting initial capital to Rs 45,000 on first on every month.
I expect Phase 2 to last for around 2-3 quarters.
Challenges:
Managing two stop losses.
Two SLs may confuse me, may have psychological emotional effects.
Expectations from forum members:
Honest feedback and encouragement so as to improve my methodology.
If you have some suggestions to modify above strategy or methods, please let me know.
If some forum members wants to follow my call, please follow at your own risk. I'm not an expert.
Example of my call/trade :
Buy/Bought Nifty 5300 CE @99.00, Stop Loss @89.00.
1) You can buy at Rs. 99.00 or above. Initial Stop Loss @ 89.00.
2) Once you are into trade, must follow stop loss to exit. You may set target of 8-10 points to exit (if I fail to post updated stop loss).
SL format:
SL @140/142, CMP 144 (means SL for first lot is 142, SL for second lot is 140)
SL @142, CMP 144 (means SL for all or remaining lot is 140)
Remember, this is just my trading dairy.
If any one interested, please keep an eye on this thread.
I hope good wishes from forum members.
:thanx:
Phase 1 URL: Escape's Trading Diary - Options
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