Manoj's Trading Diary

[jagankris]

I really have to maintain a journal to find out my mistakes.
My winners can be very big compared to my losses, I just have to find out where I am making mistakes.

Disclaimer - Trading Options is more riskier than trading Futures.
The below is just a comparison between the two and for educational purpose.Not recommendation to trade Options.


The below is calculated with RKSV brokerage calculator.

STT 3,649.75
Transaction Charges 1,532.38
Service Tax 214.53
State Stamp Duty 1,459.41
SEBI Turnover Fees 145.94
Total Charges 7,002.01
Net Sell Value 36,497,470.50
Net Buy Value 36,473,017.50
Gross PnL 24,453.00
Total Charges -7,002.01
Net PnL(PBT) 17,450.99
Income Tax -5,253.00
Net PnL(PAT) 12215.7
Govt Profit = 5253 + 3,649.75 + 1,459.41 + 214.53 = 10586.69
NSE Profit = 1,532.38
SEBI = 146

TAX/Charges = 12,255.01
NET PAT = र 12215.7

50% snatched away in the form of tax and charges.

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Say similar kind of trades traded with options - I am taking an Hypothetical example
ITM option - at 200 rs - same quantity(4275) and exit with profit of 6 points.

STT / CTT 149.71
Transaction Charges 1,024.03
Service Tax 143.36
State Stamp Duty 34.71
SEBI Turnover Fees 3.47
Total Charges 1,355.28
Total PnL
Net Sell Value 880,650.00
- Net Buy Value 855,000.00
Gross PnL 25,650.00
- Total Charges 1,355.28
Net PnL 24,294.72
IT 7288
NET PAT 17007.

There is a whooping difference of 7002 vs 1355.28 (Futures Vs Options) - Trading charges.

Here - 33.70% snatched away from us as Tax and charges.
And better returns.

Is this the reason options trading volume by big guys are much higher than the futures ?

--Follow the footprints of big guys :thumb:

 

[XRAY27]

Today was very stressful day, major of my trades were in correct direction but I could not manage them well.

1. I shorted at 8567 in the morning and exited in panic at 8560 and within next minute or two it made a low of 8517.5.

2. I went long @ 8523 with stop @ 8518, in one candle it made a low of 8505 taking my stop and then made a high of 8560 in the same candle.
This trade was not wrong as I knew from charts that it will be going up however I entered at wrong place. (The spike was due to RBI news).

3. I went short @ 8523 and made a mistake of covering full @ 8503 and within next minute it made a low of 8450.
(I will try from next session exiting half at predefined target and remaining half will give breathing space.).

4. Finally I went long @ 8499 and it made a high of 8550 and again due to anxiety I exited @ 8534.( I did not expect the spike so panicked and exited).
Here trade was in good 35 points profit and still I panicked, need to do something about this.

I really have to maintain a journal to find out my mistakes.
My winners can be very big compared to my losses, I just have to find out where I am making mistakes.

Manoj bhai !!!

Just have some event patterns for this type of days( budget and rbi review days)..i have listed two of them in my thread"intraday structure"..
other wise your trading excellent
i used to go upto 4000 qty of nifty old days (2011) ... now i have improved the quality of entry and just max two trade and volume will be for each trade 500 Qty nifty only...

Positive side

Beauty of your trading is you got no fear of qty this is first important quality in intraday trading ..

just have some restricted trade entries that will have a very positive effect on our mind

 

[franz.kafka]

Today was very stressful day, major of my trades were in correct direction but I could not manage them well.

1. I shorted at 8567 in the morning and exited in panic at 8560 and within next minute or two it made a low of 8517.5.

2. I went long @ 8523 with stop @ 8518, in one candle it made a low of 8505 taking my stop and then made a high of 8560 in the same candle.
This trade was not wrong as I knew from charts that it will be going up however I entered at wrong place. (The spike was due to RBI news).

3. I went short @ 8523 and made a mistake of covering full @ 8503 and within next minute it made a low of 8450.
(I will try from next session exiting half at predefined target and remaining half will give breathing space.).

4. Finally I went long @ 8499 and it made a high of 8550 and again due to anxiety I exited @ 8534.( I did not expect the spike so panicked and exited).
Here trade was in good 35 points profit and still I panicked, need to do something about this.

I really have to maintain a journal to find out my mistakes.
My winners can be very big compared to my losses, I just have to find out where I am making mistakes.

Truth is my friend you are trading too big a position for your comfort level that why all the panic and early exits, cut size and most important of all you need to back test your strategy, you lack confidence that is the reason you cant hold your trade, people have portfolio to trade 1000's of lots but professional know a single out come is nothing more then a random event then why risk so much on a single trade, its the avg. That matters..... Your brain needs enough data to believe......

Cheerio

 

[manojborle]

Thanks Franz, Xray, jagan, Amit for your valuable comments.
I do know my position size is big though not above my comfort level but yes it is big in percentage to my capital.
I really don't know how to back test discretionary price action.
I do need to restrict my trades to maximum of 2 and improve on quality of trade rather than taking so many trades and stressing myself.
I did know about RBI policy review today and expectation was that it will remain same and nifty in the morning down move only came to my demand zone so was expecting up move from there, mistake was I entered very late.
Making resolution from today will let the events play out before taking any trade on such days.

 

[manojborle]

 

[manojborle]

 

[manojborle]

 

[manojborle]

 

[XRAY27]

Manoj bro !!!

What is your initial quantity... 800 ?? ,nice to see controlled trading..

 

[manojborle]

Manoj bro !!!

What is your initial quantity... 800 ?? ,nice to see controlled trading..

Qty 400.

I skipped 2 trades, first was when price broke below opening range and failed I went long @ 8580, made a high of 8591.45 and came down and I exited @ 8584.5.

Then there was a mistake in putting order and made 2 trades.
( I bought 200 @ 8626 and as my preference was set to 400 by mistake squared off 400, so had to take another trade to square off another 200).