I had been trading small quantities of Silvermic with some success.
Suryameet's banknifty optionstrategy was very attractive and I tried it. http://www.traderji.com/options/104017-banknifty-sureshot-intraday-strategy-without-any-analysis.html. Sure enough it was good. However the second day in the excitement I got confused between weekly and monthly options. That did me in. If Day gave a profit of 1.5k Day 2 put me back by 15k.
Mthly options do not move at all in a day.
Because margin was low and because the
banknifty future was looking bearish decided to short it.
I missed the long downward move by bad luck. When I entered there was no real opportunity. Also I had ignored the 2% var rule.Loss again.
So as per the 2% VAR rule, I can only short SBIN. etc.
Futures are volatile, options are even more so. Thousands are gained and lost in seconds. The 1st day was sitting on a gain of 4700. In a few mins it slipped to 1500.
If you do not put in in-depth study and practice before venturing you'll just lose your shirt.
When profits and position size suddenly increase, we can lose our equanimity.
Suryameet's banknifty optionstrategy was very attractive and I tried it. http://www.traderji.com/options/104017-banknifty-sureshot-intraday-strategy-without-any-analysis.html. Sure enough it was good. However the second day in the excitement I got confused between weekly and monthly options. That did me in. If Day gave a profit of 1.5k Day 2 put me back by 15k.
Mthly options do not move at all in a day.
Because margin was low and because the
banknifty future was looking bearish decided to short it.
I missed the long downward move by bad luck. When I entered there was no real opportunity. Also I had ignored the 2% var rule.Loss again.
So as per the 2% VAR rule, I can only short SBIN. etc.
Futures are volatile, options are even more so. Thousands are gained and lost in seconds. The 1st day was sitting on a gain of 4700. In a few mins it slipped to 1500.
If you do not put in in-depth study and practice before venturing you'll just lose your shirt.
When profits and position size suddenly increase, we can lose our equanimity.
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