My Bank Nifty Options trading diary

[Raj232]

24 JUN - US OIL

We had good up run so far. Is the volatility going to continue and break above the channel on 30M

View attachment 35688


on my NOW timeframe (5M).



View attachment 35689

I can understand the 2 circles are manually drawn, but what about the Green and Red lines, Is it an indicator or manually drawn ?
what do those 2 lines mean ..? .. is it support/resistance ?

 

[pannet1]

I can understand the 2 circles are manually drawn, but what about the Green and Red lines, Is it an indicator or manually drawn ?
what do those 2 lines mean ..? .. is it support/resistance ?

People usually use a trend following indicator and/or a momentum indicator. Problem with the price is that many times we get in without the momentum. It is difficult to read 2 different indicators (parts of the screen) to enter/exit.

The normal moving average plotted on High and Low serves the purpose of gauging both the trend and the momentum. However, this only solves one problem. Another problem is when to enter. In order to enter at a discount, we need PRICE to trade outside the tracks (formed by the MAs) and then we need a counter trend CANDLE and then a breakout.

This way, we get a good discount entry (see 12 below) and also saves us from jumping on Volatility spikes. We could miss some trades because counter trend never happened (see 34 leg) below.

 

[pannet1]

fear to see charts like this . i tried many times . but cant able to read charts . lack of patience

May be traded money is not seriously needed for you. Try to follow a system and go to higher timeframes with the same system, if you are not still not able to focus. You could automate the signal part (alert, algo trading). For every disease there is medicine, except if you turn against yourself.

 

[moneymanager1980]

May be traded money is not seriously needed for you. Try to follow a system and go to higher time frames with the same system, if you are not still not able to focus. You could automate the signal part (alert, algo trading). For every disease there is medicine, except if you turn against yourself.

YES friend. .u r correct . there must be medicine . but struggle to identify the disease in first place. money is needed . not able to concentrate on charts/ technical issue. sometimes discipline and some times fails . all mixed together . even don't have job too. All in the game now.
will check how to go for algo trading.

 

[pannet1]

YES friend. .u r correct . there must be medicine . but struggle to identify the disease in first place. money is needed . not able to concentrate on charts/ technical issue. sometimes discipline and some times fails . all mixed together . even don't have job too. All in the game now.
will check how to go for algo trading.

all above statements seems to be wrong. this is not school to be disciplined all the times. we are humans and we have emotions. consider something that will be very forgiving when you are not and rewards you when you are.

keys for me are position size, progressive exposure and rescue. put a smallest trade possible and try to go any extent till you make that small lot profitable. it is OK even if you unleash a battery of army to save the lone small foot soldier (your small trade)

 

[pannet1]

1) entered into a scout (+1) and went to sleep
2) turned (-3) what looked like we are hitting resistance during london open
3) realized the mistake and added (+2), to become flat. did not have the guts to put +8 as per the usual rescue.
4) booked some profit from overnight (which was non existent and set off by next month future).
5) added (+3 ) immediately as we are trading above pivot near 3).
6) Failure to trade above the top .. became flat with (-2).

Note: Entries in MCX but markings made in US Oil above to get an idea about the levels.

 

[pannet1]

27 June

 

[pannet1]

Planning to reduce my updates here in TJ first by weeks and then by months. Feels there is very little actiivity here nowadays.

 

[moneymanager1980]

Planning to reduce my updates here in TJ first by weeks and then by months. Feels there is very little actiivity here nowadays.

wy so sir. sorry dont take in other ways . infact you need to increase to the post to get more activity .
just my view

 

[gautam7821]

Planning to reduce my updates here in TJ first by weeks and then by months. Feels there is very little actiivity here nowadays.

Learning from you , and lots to be learnt from you, please keep posting.