trader15 trading diary

[jagankris]

Trade 1:

Entry : BankNifty : 11500 Call@ 157
- Idea : Based on broker call.
- Analysis: if nifty moves up, which I'm long, then BNF will move up too
- Conviction : Low: Due to no clarity on Nifty moving up due to current status
of charts. No clear pivot taken out

- Reason for trading : Never traded in Bank Nifty options. Taking test ride

Learning:-

1. BNF options are more volatile than nifty : Lovely movements: Not sure why I never tried it earlier : Sounds yummy
2. Spread is Rs. 1 + always


Trade 2:

Entry : 6300CE@55 : Target : 68
- Idea based on broker call
- Analysis: Picked it up around 6180 NF. Now if my current holding will go up, so will this position. and will help square off few losses in
current holding

Learning:
- Entered not due to analysis but due to Greed: More money.. and lack of money management: Have money , chalo laga dete hai jab tak my wallet
is not empty

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3.10 pm : Question : What should I do with open trades@hand:
1. Short Sell 6200PE@92 : CP: 101 (-9 pts)
2. Long NF@ 6236 : CP: 6196 (- 40 pts)
3. Long 6300CE@ 55 : CP: 54.45 ( -1 pts)
4. Long BNF 11500@ 157: CP: 127 (-30 pts)


Exiting:
Trade 3: Long 6300CE@55 : Exit Price@

Rest 3: Keeping open
- BNF:- Seperate than Nifty :- Can move up or down : So can hold till expiry
- Short PE: Small upmove from here will give me exit. Plus time decay will help
- NF: Long: Still holding : Stop Loss will be 6080.

Another thing is : Today may be 315 Crossover for Nifty. We had touched EMA 15 yesterday, and today if it crosses over, we are surely in downtrend.

Update:-
- 6180 is 20 Day SMA for Nifty Futures. Good chances of small bounce back from here
- VIX is down post 2.20 pm : Helped in containing losses on Short Puts

Dear Trader 15,

When ever there is a con-tango (large premium on the positive side between spot and futures) better to write a call than put.
This is evident by heavy loosing of call premium and puts not gaining so effectively call writers made money or put buyers but not straddlers.

Never take broker's call - for brokerage house could have vested interest.
(Your mistake is their money).

-Nifty closed below its 20 Day MA on Friday.
-SGX has closed 35 points below and so one could anticipate a gap down.

Already Nifty Long and why short put ???
US GDP numbers are not good for emerging markets.

US - dollar is strong and in an uptrend in daily meaning bad for banks and index.

In general after a weekend one could expect a gap up/down.
Never take position against the trend on a week end.

Decide upon a system and stick on to that.

TD - Sequential is a set up and not a system.
Pls dont have hope and wishful thinking.
Once a trade is made be pessimistic till markets prove your trade correct.

Wish you all the best.

 

[trader15]

I think you are missing few points:

a) US Data is not positive but negative. Dont read the numbers on news, but read the finer details
b) VIX has gone down in last hour of trading
c) I trade the charts and sentiments and not hope: so i ain't pessimistic or optimistic
d) Have sold puts : As I expect markets to bounce back up from current levels.. hence haven't sold calls. Again upto individual's intrepretation of charts and own systems.
e) I do have a system and follow that, its just that as humble learner, i learn new things and incorporate as part of my system

Anyways thanks for your advice.

 

[oilman5]

good writing, honest strategy.

but i have taken wrong trade -put buy nifty 6400& write call 6500/
....................
so Monday i will lose/book loss

 

[trader15]

good writing, honest strategy.

but i have taken wrong trade -put buy nifty 6400& write call 6500/
....................
so Monday i will lose/book loss

hold it if you can. dont just close based on mon/tues upmove if there is any.

the markets may move up but in this series they are expected to go down. Since you are playing at higher strike prices, you have good probability (say 90%) of making money. So if you have holding capacity say even if nifty moves up to 6350+ levels, hold the pair..

or if you get an exit at nominal loss, exit if markets move up..

 

[subratdas]

The big question here is , will MKT move up from here or go down ? If we look at last week nifty movement , nifty has moved down continuously for last 4 trading days. Also it is making lower lows every day in every trading day last week ,coming down to 6140 level which is 160 + points down .Also it has broken the 6180 support on spot . And as mentioned the 15 EMA has made a crossover. So trend is down . Thr may bup moves due to 6180 being a nf support but IMO it will not last long and nifty will be in downtrend. Let us see what happens next week.
Thanx/subrat

 

[DanPickUp]

I think you are missing few points:

a) US Data is not positive but negative. Dont read the numbers on news, but read the finer details
b) VIX has gone down in last hour of trading
c) I trade the charts and sentiments and not hope: so i ain't pessimistic or optimistic
d) Have sold puts : As I expect markets to bounce back up from current levels.. hence haven't sold calls. Again upto individual's intrepretation of charts and own systems.
e) I do have a system and follow that, its just that as humble learner, i learn new things and incorporate as part of my system

Anyways thanks for your advice.

You not even should think about telling any trader about what he has to do in any stage. Do not go over your little limit you are accepted now at the moment. Clear? No advise needed in the forum from paper traders. So keep back any comments.

DanPickUp

 

[trader15]

Dan

i am not paper trader like you. and again please stop messing around with my posts. if you have anything meaning ful to contribute to state in thread, do so, else please stay away.

thanks for your cooperations. and stop posting using multiple id's. people can recognize your writing style

 

[trader15]

The big question here is , will MKT move up from here or go down ? If we look at last week nifty movement , nifty has moved down continuously for last 4 trading days. Also it is making lower lows every day in every trading day last week ,coming down to 6140 level which is 160 + points down .Also it has broken the 6180 support on spot . And as mentioned the 15 EMA has made a crossover. So trend is down . Thr may bup moves due to 6180 being a nf support but IMO it will not last long and nifty will be in downtrend. Let us see what happens next week.
Thanx/subrat

absolutely.. what i have observed it if 20 dma happens during 315 crossover, and the crossover has just initiated,there is high probability of small jump..

overall trend is down.. but the downside is limited currently to 6080-6060 levels, which is only 100 points from current level. so expect small move up, test of 6060 levels and then we'll see

 

[oilman5]

good writing, honest strategy.

but i have taken wrong trade -put buy nifty 6400& write call 6500/
....................
so Monday i will lose/book loss

.................................................................................................
i got lucky, i have no further courage. so book profit .
Again become greedy............so now play in 4lot only in 6000put also underwrite 6400 call @ 12/-
.....................................................
one of my friend still allow let profit run with 500lot........he considers 5900 to cover. i suggest him to book profit 200lot- he probably plans to buy a house in this yr.
Only stock 72 can trade like that

 

[jagankris]

.................................................................................................
i got lucky, i have no further courage. so book profit .
Again become greedy............so now play in 4lot only in 6000put also underwrite 6400 call @ 12/-
.....................................................
one of my friend still allow let profit run with 500lot........he considers 5900 to cover. i suggest him to book profit 200lot- he probably plans to buy a house in this yr.
Only stock 72 can trade like that

He will buy a house(at least an apartment) probably with in this month .