Happy to be back on traderji and trading.
For last 10 years I tried my hand on trading by different techniques. There is no great story to tell as I am one of those 90% who always loose.
This time I want to do the tortoise style trading. The slowest of all the money making dreams I had.
I saved around 50k over last few months.
I will be trying to make money using BANKNIFTY options - by writing them.
My target is to make 3 crores in 3 years. Very slowly.
My observation is by writing BANKNIFTY weekly options, one can earn upto 4% of the capital every week. Some trading is still required.
With 50k one lot of next week's BANKNIFTY+/-300 can be written around 50 on friday after expiry.
By next expiry, at least 2 to 3 trades of Rs. 800 to 1000 is possible. Which will give around 2000.
As the money increases option can be written at higher value than Rs.50 by looking at technical. There by increasing the money collected.
To reach 1 lac it will take 20 weeks at this rate.
After 1 year near 3.6 lacs.
After 2 years 27 lacs.
After 3 years 2.7 crores.
So, this thread will be boring & not exciting.
Position will be closed whenever 2% loss is hit and technical not supporting.
Current position is 19500 CE written at 40. Total a/c value is at 54k.
For last 10 years I tried my hand on trading by different techniques. There is no great story to tell as I am one of those 90% who always loose.
This time I want to do the tortoise style trading. The slowest of all the money making dreams I had.
I saved around 50k over last few months.
I will be trying to make money using BANKNIFTY options - by writing them.
My target is to make 3 crores in 3 years. Very slowly.
My observation is by writing BANKNIFTY weekly options, one can earn upto 4% of the capital every week. Some trading is still required.
With 50k one lot of next week's BANKNIFTY+/-300 can be written around 50 on friday after expiry.
By next expiry, at least 2 to 3 trades of Rs. 800 to 1000 is possible. Which will give around 2000.
As the money increases option can be written at higher value than Rs.50 by looking at technical. There by increasing the money collected.
To reach 1 lac it will take 20 weeks at this rate.
After 1 year near 3.6 lacs.
After 2 years 27 lacs.
After 3 years 2.7 crores.
So, this thread will be boring & not exciting.
Position will be closed whenever 2% loss is hit and technical not supporting.
Current position is 19500 CE written at 40. Total a/c value is at 54k.
