Augubhai's notes - Smarts, Guts and Luck

[augubhai]

5900PE - long at 53.9, SL 53.3

out at 53.19

5900CE - long at 60, SL 57.4

MTM looking very bad

 

[augubhai]

MTM -3.32%

Taking a break.... all my thinking over the weekend was a waste, i guess

 

[augubhai]

Absolutely my worst day this year.... should have stuck to my old method.

I am now out of the market and reviewing the charts.... what I find is:
1. No problem with the plan. The whole problem in in the execution. need to be very fast and accurate for trading 1 min charts.
2. One trade where I thought I was long Puts, but actually long Calls ate up 1.5% of MTM.
3. I had planned not too add too soon, but did not stick to the plan
4. There were too many chances where i could have gone positive, but I did not book.

Anyway, my confidence is shaken. Will psyche up today evening for another day tomorrow.

 

[TraderRavi]

MTM -3.32%

augubhai, I wonder with how much capital you are playing in options ...

 

[njethva]

Absolutely my worst day this year.... should have stuck to my old method.

I am now out of the market and reviewing the charts.... what I find is:
1. No problem with the plan. The whole problem in in the execution. need to be very fast and accurate for trading 1 min charts.
2. One trade where I thought I was long Puts, but actually long Calls ate up 1.5% of MTM.
3. I had planned not too add too soon, but did not stick to the plan
4. There were too many chances where i could have gone positive, but I did not book.

Anyway, my confidence is shaken. Will psyche up today evening for another day tomorrow.

Please remember charts are always right.

keep emotion outside than you will see thunder shower of Money on you.:thumb:

 

[akhill]

Absolutely my worst day this year.... should have stuck to my old method.

I am now out of the market and reviewing the charts.... what I find is:
1. No problem with the plan. The whole problem in in the execution. need to be very fast and accurate for trading 1 min charts.
2. One trade where I thought I was long Puts, but actually long Calls ate up 1.5% of MTM.
3. I had planned not too add too soon, but did not stick to the plan
4. There were too many chances where i could have gone positive, but I did not book.

Anyway, my confidence is shaken. Will psyche up today evening for another day tomorrow.

After all these days, i see that you are having problem with the "EXITS" - which every other trader will always have. But, work on ur risk/reward ratio(i know u are good at it), that way u can setup ur stop loss a bit far from where u are setting it up now, allowing some room for the price to settle.

Regarding Exits, its always difficult while doing the options. Moreover, intraday options are not always suggested.

Good Luck brother - Do not lose ur spirit.

 

[akhill]

augubhai, I wonder with how much capital you are playing in options ...

same question.

 

[muinali]

Hi aughubhai
i cant hold myself to type you and must say you that you are just chassing market and every time you slipped on "kela ka chilka" .here i would like to say your specific pattern of trading will not work in all kind of market.i am observing your pattern................thinkk!
no body can suggest you ,just think how can you do better
sometime lossing stick is also gud for learn but continuos lossing is not good habit for trader

 

[augubhai]

augubhai, I wonder with how much capital you are playing in options ...

TR, i am keeping that info secret

 

[TraderRavi]

TR, i am keeping that info secret

I tried once calculating that with your MTM figures...must be > 2 lakh....