General Trading Chat

[Fundootrader]

All the traders who were very confident that we will touch 6500 or 6200 in nifty still holding that view and still holding short positions .? Just curious ...

Smat_trade

I'm still holding 7300 and 7000 puts of April Series - Non believer in this rally. Technically great but fundamentaly not - this market will fall faster than it has been going up.

 

[timepass]

Dow@17777 .... magic number dhamaka :clap::clap:

Yeah.. and also notice that dow has open = low

 

[Smart_trade]

I'm still holding 7300 and 7000 puts of April Series - Non believer in this rally. Technically great but fundamentaly not - this market will fall faster than it has been going up.

Did you catch some part of this upmove by going long or not ? It always pays to be positioned as per the trend, whether we believe it or we don't believe it. 7300 or 7000 may come but for that we will get into short positions at 7600 or 7500.
We will ride the down move also if and when it comes.But if those levels don't come,your puts will be total loss.

ST

 

[Somatung]

All the traders who were very confident that we will touch 6500 or 6200 in nifty still holding that view and still holding short positions .? Just curious ...

Smat_trade

Funny to see specially you to ask such questions.

Any way: An interesting level chart technically seen and an other good moment to implement a two leg strategie in any way with next months option series in Nifty. Dow could be important as even Dow is on and around an interesting level chart technically seen. Have a nice evening / Dan​

 

[Smart_trade]

When market paused at 7550 I got little bearish and bought 7600 puts and sold 2 X quantity of 7400 puts as I was expecting a mild correction in March series.But when market refused to trend down, sold 7600 puts and kept 7400 puts and went long in futures.That decision fortunately proved right. I have sold 6800 puts also...both 7400 and 6800 puts will expire worthless tomorrow.RIP

ST

 

[Smart_trade]

Funny to see specially you to ask such questions.

Any way: An interesting level chart technically seen and an other good moment to implement a two leg strategie in any way with next months option series in Nifty. Dow could be important as even Dow is on and around an interesting level chart technically seen. Have a nice evening / Dan​

Nothing funny in it Dan, many still must be having buy positions in lower levels puts. Some may even have short nifty futures and sold some puts to put a patch to the losing positions and that is the worst case .Just wanted to see if they made any changes in their position /game plan when market was not going in their desired direction .Range in March series is large 6700 to 7700 as of now.

ST

 

[Somatung]

Nothing funny in it Dan, many still must be having buy positions in lower levels puts. Some may even have short nifty futures and sold some puts to put a patch to the losing positions and that is the worst case .Just wanted to see if they made any changes in their position /game plan when market was not going in their desired direction .

ST

Each trader has to go for his believes and assumptions as even you do. If those assumptions are wrong, then more skills have to be learned to avoid other wrong decissions. As now all those puts will expire, if now with profit or loss, an other lesson in real market with real money is learned. Some will have sleepless night like we all had in the past when making wrong assuptions and in profit traders will even have more confidence by what is done. Even you or me or others can be wrong with assumptions, as even proved in the past by you and me and others.

I think it is not our problem if others lose or win as long as we stay in the game and go our ways by our assumptions. Or do you think that your question has changed any behavior of any of traders who still want there assumption to be wright, as others could be wrong. Thats how the market is and even successfull traders had to go through hard and loosing trades and this is what have made them strong to stand wrong decissions and take the next trade. Do not knwo what to say more in a neutral way.​

 

[Smart_trade]

Each trader has to go for his believes and assumptions as even you do. If those assumptions are wrong, then more skills have to be learned to avoid other wrong decissions. As now all those puts will expire, if now with profit or loss, an other lesson in real market with real money is learned. Some will have sleepless night like we all had in the past when making wrong assuptions and in profit traders will even have more confidence by what is done. Even you or me or others can be wrong with assumptions, as even proved in the past by you and me and others.

I think it is not our problem if others lose or win as long as we stay in the game and go our ways by our assumptions. Or do you think that your question has changed any behavior of any of traders who still want there assumption to be wright, as others could be wrong. Thats how the market is and even successfull traders had to go through hard and loosing trades and this is what have made them strong to stand wrong decissions and take the next trade. Do not knwo what to say more in a neutral way.​

Everyone makes a error of judgement but prudence is in taking remedial action quickly when we are proved wrong. Everyone who knows me in this forum knows that I don't ask such questions to make fun or to rub salt in their already painful wounds.But I don't accept that " it is not our problem if others lose or win as long as we stay in the game " .We stay in the game but we want to help others also to stay in the game and be profitable.I wanted them to realise that in trading sticking to our view is wrong when the market is not acting in tune with our views. They will improve as traders if they realise holding positions when market is going away from them with the view that they don't have faith in this upmove is wrong thing to do which I am sure they must be realising now.

Anyways,topic closed from my side....have a nice day ahead.

Smart_trade

 

[manish9300]

I'm still holding 7300 and 7000 puts of April Series - Non believer in this rally. Technically great but fundamentaly not - this market will fall faster than it has been going up.

" Markets can remain irrational longer than you can remain solvent." - Keynes

 

[vivektrader]

There will always be 'turtles' who would not make each and every mistake in the book individually, rather learn from their mentors.
A good teacher can shorten your learning curve by light years. Just think about a great teacher then.
For this reason mentors are revered for ever.
Smart_trade sir, thanks for being around and for making this rather 'roller coaster' journey memorable.