An Idiot's Option Trading strategy : Please bear with me

[jyotixxx]

TCS

15-Apr-14 Entry OPT-TCS -2250-PE Buy @48.1
2250-CE-Buy @54.6
Max loss risk-12835.50
Status- Open

MCDowell-N (United Spirits)

15-Apr-14 Entry OPT-MCDOWE 2850-CE Buy @33.65
2850-PE-Buy @24.7
Max loss risk-7293.75
Status- Open

TCS Hit limit pricie on PE leg at 99.8
Holding the CE leg till now.

Mcdowell-N still on loss

 

[jyotixxx]

TCS Hit limit pricie on PE leg at 99.8
Holding the CE leg till now.

Mcdowell-N still on loss

CE leg sqared off @24.15

Profits approx 125x24=3000/-

 

[jyotixxx]

Dear somatung,

Sorry for not recognizing you.
Please guide regarding this strategy not so great. My idea is catching the appropriate candidate for a movement( minimum 5%, on any direction). I have found that 5-6% swing gives exit from one leg and gives me opportunity to leave that other leg as profit. e.g. TCS
But daily limit price will stop me from getting deep profits like in Just Dial.
Sitting in front of terminal is not possible for me to track movement except these leave days.

Please give opinions

 

[jyotixxx]

Tata Global Beverage

Entry 01 April strike150 CE@ 6.80
PE@ 5.30
Max loss-24200
Still Open -Unrealized loss approx 8000

will try to exit Tata Global if moves some more. Will try to minimize losses. Frustrated of waiting.

Tataglobal showing breakout

 

[Somatung]

Dear somatung,

Sorry for not recognizing you.
Please guide regarding this strategy not so great. My idea is catching the appropriate candidate for a movement( minimum 5%, on any direction). I have found that 5-6% swing gives exit from one leg and gives me opportunity to leave that other leg as profit. e.g. TCS
But daily limit price will stop me from getting deep profits like in Just Dial.
Sitting in front of terminal is not possible for me to track movement except these leave days.

Please give opinions

Hi Jyotixxx

In post nine of this thread I mentioned some most important points about what you like to do/test: http://www.traderji.com/options/93393-idiots-option-trading-strategy-please-bear-me.html#post957165

In and other post I pointed to some more links which are relevant for your strategy: http://www.traderji.com/futures/91950-day-trading-futures-493.html#post958376 As long as you go long such a straddle atm

As you showed profits in your idea/trades in the first post, I thought you do some how well with what you do. So it seemed to me that you do fine. Make a list of all points you consider as a real problem (beside what you above posted) and post it or use my PM. I will have a look at it. Take care

 

[a1b1trader]

Dear somatung,

Sorry for not recognizing you.
[.......]

With all due respect
@AW10
@Danpickup
@Smart Trade and all Traderji Gurus
Please bear with me.
[........]

Hi Jyoti

Sorry
If you did not recognize, Somatung
He is one of the three mentors, you posted in your first post.

He is DanPickUp with new username Somatung.
Hope you got it now.

 

[DSM]

Great thread Jyoti. Have been following your post, and note that you have the right attitude - keeping an open mind and trying to absorb knowledge, experience and wisdom from other traders. Am sure, with this attitude you will go a long way. Take care and successful trading.

 

[Somatung]

@Jyotixxx

Here an other ad for your thread, as a long straddle at least needs swings in the market. If a swing is done on either side and you not always just want to exit with your legs, you need to manage those position. But that is an other topic.

http://www.traderji.com/general-tra...ney-markets-method-madness-47.html#post960083

 

[jyotixxx]

Tataglobal showing breakout

Tata Global CE has crosses 10, while PE almost worthless. CE limit price @12.4

 

[munde_77]

VIX index is up around 17% . VIX is 36.25

prv clos 3489 cmp 3599

1 lot of VIX is in profit of around 110 points. i.e 750x110 = 82500