Dave : My Trading Journal

[Dave]

I don't have much idea about stock options, but if you have 5000 in your account, don't spend more than 2500 on one trade, don't use the other part. With 2500, you can buy some nifty option worth Rs. 50.

How much are your expenses ?? Brokerage etc ??

Thank you for the suggestion, will have a watch on Nifty option tomorrow.

On F&O my brokerage is flat 35.00. With stamp paper duty and other expenses, it comes up to 50.

 

[timepass]

Thank you for the suggestion, will have a watch on Nifty option tomorrow.

On F&O my brokerage is flat 35.00. With stamp paper duty and other expenses, it comes up to 50.

So you will have to select your trade very carefully. Buy some option which looks like it will give you at least more than 1 rs. movement. Initially don't aim very high. Keep a stoploss of Rs. 1 and target of Rs. 2. Make sure you get out with minimum loss, if there is a loss.

 

[Dave]

So you will have to select your trade very carefully. Buy some option which looks like it will give you at least more than 1 rs. movement. Initially don't aim very high. Keep a stoploss of Rs. 1 and target of Rs. 2. Make sure you get out with minimum loss, if there is a loss.

Thanks a lot TimePass, Will keep this in mind for sure, This one is a nice workaround. :thumb:

 

[Dave]

Need more cautious approach today. Market may remain choppy ahead of Greece election, and week Euro. Bias is negative.

 

[chemswovan]

can you elaborate on the strategy you are using to take position.

 

[Dave]

can you elaborate on the strategy you are using to take position.

Yes, Chemswovan, Will write down the points, and strategy this evening.

 

[Dave]

Yesterday ended a volatile session ahead of inflation data, No profit booked so far. Its really difficult to predict the trend at this time, Lets see how the market is responding to inflation report today. Market may open in red following weak global support.

 

[Dave]

So far a decent day. booked 650 rupees of profit. Bought Nifty 4900 PE at 32 and sold at 38.5. But it went up to 41 after profit booking. But my target got achieved and feeling glad for making profit, after 2 days of loss.

 

[Dave]

Nifty 4900 PE is at 44, Missed 550 rupees more, But anyway, I am happy for my part of profit

 

[Dave]

Nifty ended below its crucial psychological level of 5070 i:e 200 DMA. Therefore expecting more downwards in near term. But a hope of rate cut may keep the sentiment positive. So quite difficult to predict the market behavior for tomorrow. Lets hope for the best, and lets keep the profit line intact.