Trading in NIFTY options - posting daily profit/loss

[pfinrs]

Hi All:
I am new to Traderji and am not sure if there will be any takers for my proposal. I have been occasionally trading in NIFTY options for a while, but it is only recently that I started trading on almost daily basis. I conduct my own analysis and trade based on what my model says. So far, I have made reasonable profit (about 36,000) on a capital of 150,000 in 8 trading days. Going forward, I will post the screenshots of the contract statement for all to see. I am doing this to keep myself motivated. I was wondering if there are others who would like to share the information?

pfinrs

 

[Jeareh]

Hi pfinrs,
I do trade only in nifty options. It has good reward & risk. Trend based trading. Ten points stop loss. Minimum twelve points target (Two points for brokerage). Its a matter of rs.500 per trade per lot. Win when the trend is in my favour. Lose when Sl is hit.

As you said, its surely an act of self motivation to post result. Based on feed back I shall share after some days.

 

[HARIVEL]

Hi Pfinrs

Pls go ahead, :thumb: :thumb:

 

[pfinrs]

Yesterday was a frantic day of trading. I was up by 10,000 in the first hour of trading and then against my better instincts, entered into a long position in a put hoping to make about 3 points (to cover the brokerage). My system indicated that I could make about 3 points in that trade. Got greedy and did not initiate a stop loss and placed a limit order at 3 points higher than the buy position. The price went up to within 5 paisa of my limit order and then the market shot up. Finally, when I covered my position, I was down by about 15,000 including brokerage and taxes. This was one of the days when even after getting 100% of the calls right, I ended up losing money. Others like me, please remember:
1) Do not get greedy. If you are looking for small profits always place market order when you reach the exit point.
2) Always place a stop loss (SL-M, not SL-L) for every trade.

Running total since the initiation of this thread:
capital: 150,000
Profit/Loss: -14393.23

Let us see if tomorrow brings better news.
pfinrs

 

[TraderRavi]

In options people make 10k one day....... ..lose 20k next day......because SL cant be defined in options as in futures......so basically buying options is a hope business.....

 

[spiritunit]

In options people make 10k one day....... ..lose 20k next day......because SL cant be defined in options as in futures......so basically buying options is a hope business.....

True! Options is very attractive and sometime doubles your money in no time, at the same time it vanishes your money quick time as well! Options are good to use for hedging purpose or gives good returns on trending market!

Now, I shifted over to trade only futures and using options for hedging sometimes! :thumb:

 

[DanPickUp]

In options people make 10k one day....... ..lose 20k next day......because SL cant be defined in options as in futures......so basically buying options is a hope business.....

Dear TraderRavi

Sorry to say the following:

That specific script is not really a clever thing to tell in an open public forum as it shows your knowledge about option trading. And it is by the way also very miss leading what you tell. With other words: It is wrong.

You can very well define stop losses in any kind of option trading and you can make very well money by buying options. Only thing is to know how to do it.

Good trading

DanPickUp

 

[pfinrs]

For May 8, 2012
Profit: 1448.58 - all profit/loss numbers are net of brokerage and taxes.
pfinrs

 

[Stock trendy]

In options people make 10k one day....... ..lose 20k next day......because SL cant be defined in options as in futures......so basically buying options is a hope business.....

Ravi bhai i trade option some times that too for a day or two prefer (liquid) stock option than index You are very true SL can not be defined.
Unfortunately in resent days option traders have increased in our country without knowing the method of trading it that is because of low investment and expectation of making ..dreaming big money.
TATA MOTORS findind support at spot 290 bought some 320 CE sold it with double profit few days before
watch it today ...

 

[TraderRavi]

Ravi bhai i trade option some times that too for a day or two prefer (liquid) stock option than index You are very true SL can not be defined.
Unfortunately in resent days option traders have increased in our country without knowing the method of trading it that is because of low investment and expectation of making ..dreaming big money.
TATA MOTORS findind support at spot 290 bought some 320 CE sold it with double profit few days before
watch it today ...

:thumb::thumb: