Looking for a mentor in option trading

[gogs1973]

Hi anybody willing to share dilip shaw pdf files

 

[gemat]

He is suggesting selling a condor of 84xx and 76xx strikes if the nifty is at 80xx. Target is 40% of cost involved and SL is around 100 pts below and above the strikes respectively. Assuming SL is hit at 84xx, you are advised to sell twice the qty of 88xx strike and keep the other side open. Again SL is kept 100 pts below the strike sold.

Most of the times both the SL`s are hit. Leaving you with around 100 pts gain at the end of the year. Is it really worth the trouble , just for 100 pts.

Let me see how it goes. yesterday on 4th April, he had send me an email to use strategy 1 that rbi rate cut would impact volatility there would be fall in Vix and nifty rises. well it didn't happen because of global cues nifty fell 155 points and i shorted 7600 pe for 63 on 4th april and ended up 25 points loss. tom's global markets trend suggest there would again be a fall in nifty.

 

[gogs1973]

Did not you hedge ur position because dilip never suggest trade without hedg5

 

[oldtrader]

Let me see how it goes. yesterday on 4th April, he had send me an email to use strategy 1 that rbi rate cut would impact volatility there would be fall in Vix and nifty rises. well it didn't happen because of global cues nifty fell 155 points and i shorted 7600 pe for 63 on 4th april and ended up 25 points loss. tom's global markets trend suggest there would again be a fall in nifty.

Strategy 1 is Iron Condor, which should have been done around 3 pm on 04-04-2016. 7600 pe which u have shorted is a naked strategy, should have covered atleast , by buying 7400 pe.

 

[gemat]

Yeah you are right. he suggested to use strategy 1 and i went for naked shorting by selling 7600 pe for 63 at around 3 pm when the vix was little high. a big risk, didn't hedge the position. my feeling was the 25 rbi rate cut would be taken positively, nifty rises n vix falls the next day, but the global market were down. nse also crashed. sold one lot, loss around 2 %.

 

[oldtrader]

Yeah you are right. he suggested to use strategy 1 and i went for naked shorting by selling 7600 pe for 63 at around 3 pm when the vix was little high. a big risk, didn't hedge the position. my feeling was the 25 rbi rate cut would be taken positively, nifty rises n vix falls the next day, but the global market were down. nse also crashed. sold one lot, loss around 2 %.

SGX is trading in the green now . NF is expected to open Gap up. Time to repair your positions if still holding.

 

[gogs1973]

Yeah you are right. he suggested to use strategy 1 and i went for naked shorting by selling 7600 pe for 63 at around 3 pm when the vix was little high. a big risk, didn't hedge the position. my feeling was the 25 rbi rate cut would be taken positively, nifty rises n vix falls the next day, but the global market were down. nse also crashed. sold one lot, loss around 2 %.

Naked positions always high risk

 

[gogs1973]

SGX is trading in the green now . NF is expected to open Gap up. Time to repair your positions if still holding.

Iron Condor is about eating premiuns when vix is high of course with hedging and mind you its a positional trade

 

[gemat]

opened gap up. nifty trading flat now. but expecting nifty may touch 7500-7550. kind of bearish signal. no holding today. want to open hedge position at the end of the day. lets see how it moves. yesterday stop loss hit closed my position. :thumb:

 

[mathivanansub]

Is this course about selling iron condors and leave it till expiry ??

Yes it is Lemon. But not wait till expiry, once Nifty moves 300 points one way from your point of entry you take stop loss. And if you have the guts for the next strategy, Nifty has to move another 300 points in the same direction to bring a bulk stop loss. Count for yourself how many times nifty moved 300 and 600 points within a month in the last year. It all depends where you enter, how do you know which is the safe point to enter. I tried it with combination of price Action. But again, if I am able to judge the direction of market why should I use such low performing tools.