Noob's Option Journey

[newoption]

Hi All,

So I am new to option trading and will be posting my journey here so as to maintain a record for myself and get views of the more experienced traders.

The approach will be to take two opposite options and then exit at 20% return. STLP will be 30% below the average price of the pair.

I usually trade in nifty , bn , icicibank , hpcl , have tried weekly bn options but they are too volatile for my nature.

Current Capital 50K
Aim : 25K profit by 31st Jan 2018

Edit : will be carrying 240 @ 25500CE for tomorrow at 178.8 ( These are naked positions will be hedging them tomorrow morning with 24900 PE if the market opens gap down)

TIA.

 

[simplebuthard]

Do you have any strategy to decide when to open positions?

 

[newoption]

Do you have any strategy to decide when to open positions?

I am using zerodha supertrend to time my trades and looking for trend in market in general.

Sent from my Infinix X572 using Tapatalk

 

[newoption]

Booked my bnnifty at 189 in the morning.

Sent from my Infinix X572 using Tapatalk

 

[newoption]

Market Opened green but bank nifty didn't blasted in the early trades so booked all my 25500 CE at 189 with a profit of 2480 , the market was very volatile with wild swings which gave perfect opportunity to enter bracket orders in Zerodha . I entered Axisbank and Icici Bank future many times (18 trades in total) depending upon the signal (buy/sell) given by the supertrend and the day ended with profit of Rs 18044 (brokerage was 2200) so net profit 15844.

Current Capital 50K (Initial)
Aim : 25K profit by 31st Jan 2018
Actual Profit/Loss : 15844

TIA

 

[newoption]

Today could have been a great day but I committed 2 mistakes which most of the new traders do :

1. Went with the gut feeling and against the indicators
2. Did trade just for the sake of doing trade.

I was watching closely ICICI , yes bank and HPCL and scalped some minor points in each and after that feeling kicked in of doing some trades even though the charts were not giving any indication of either buy or sell, but still went ahead. So what could have been a profitable day with 25K profit closed down at 2400 loss but the lesson was learnt.

Open Positions : 10400 calls at 95 and 25400 PE at 180

Capital employed : 50K (Initial)
Aim: 25K profit by 31st Jan 2018
Actual Profit/Loss : 15844-2400 = 13444

TIA.

 

[OneThatGotAway]

you are not new option trader .you have sound realization of profit loss and what mistake made .. you are wat we call Underdog lol.
All best with trades
new option trader won;t make money u are making money so haha

 

[newoption]

you are not new option trader .you have sound realization of profit loss and what mistake made .. you are wat we call Underdog lol.
All best with trades
new option trader won;t make money u are making money so haha

By new to trading I meant was real money trading . I read quite a few books about technical charts and all , and after that did virtual trading for some time before starting with the real money.

 

[newoption]

Forgot to add brokerage in the stats :

Capital employed : 50K (Initial)
Aim: 25K profit by 31st Jan 2018
Actual Profit/Loss : 15844-2400 = 13444-4800=8644

TIA

 

[newoption]

Today could have been a great day but due to office meeting missed the chance of booking my PE at 500+ , nevertheless profit is profit.
Booked good profits in ICICI future (21K), learnt from my previous mistake and allowed the profits to accumulate rather than panicking after a small profit and closing the position.
Lost quite a bit in Arvind (14K) , need to work on exit strategy . I was using a large STPL as market was very volatile which went against me.

Capital employed : 50K (Initial)
Aim 1: 25K profit by 31st Jan 2018 (Achieved)
Aim 2 : 100K profit by 31st Jan 2018
Actual Profit/Loss : 8644+25000= 33644

I have changed my Aim to 100K by 31st Jan 2018 considering that we won't be getting more of as volatile days as today.

TIA