diary of a day trader

[TraderRavi]

A small hitch. 5200 CE & PE both saw high OE addition today. Now, I can understand why somebody sold 5200CE, but I don't understand why will somebody dare to sell so huge a quantity of ITM 5200PE just one day before expiry?? (Knowing or Unknowing that Nifty has a very stiff Resistance @ 5170) Unless he has some kind of info....

Just wandering, can we see expiry abv 5200????

they all have prior information, thats why they wrote 5200 put @ 100, one day prior to expiry.......:annoyed:

 

[djsinha]

you almost know where the expiry is going to be
excellent! man,did you use that knowledge

No. Didn't trade it. Was closing the month with good profit, so didn't want to take this risk as chances of ruining the already accumulated money always remains --> Already burnt my fingers before taking impulsive trades.

 

[Easytrader]

No. Didn't trade it. Was closing the month with good profit, so didn't want to take this risk as chances of ruining the already accumulated money always remains --> Already burnt my fingers before taking impulsive trades.

impulsive trades..... this is the root cause of all problem for me...in trading...still trying to cut this thing out....Nice thing you did am still diping my fingers in ice water:annoyed:

 

[TraderRavi]

impulsive trades..... this is the root cause of all problem for me...in trading...still trying to cut this thing out....Nice thing you did am still diping my fingers in ice water:annoyed:

Definitely I will make some changes to my trading habits/style from this november........and I have lost around 2 lakhs in 10-15 expiry days alone in options.....so something must be done to stop this expiry day gambling.......may be only futures from now on...or no more than 2-4 lots of options at a time.......

 

[intellibitz]

TR,

What i had observed and as you rightly pointed most of your losses are from options trading. Why not just trade the profitable ones only as you again pointed out (futures, stocks) the next few months and then compare. Good luck.

Definitely I will make some changes to my trading habits/style from this november........and I have lost around 2 lakhs in 10-15 expiry days alone in options.....so something must be done to stop this expiry day gambling.......may be only futures from now on...or no more than 2-4 lots of options at a time.......

 

[djsinha]

Definitely I will make some changes to my trading habits/style from this november........and I have lost around 2 lakhs in 10-15 expiry days alone in options.....so something must be done to stop this expiry day gambling.......may be only futures from now on...or no more than 2-4 lots of options at a time.......

Exactly same thing happened with me when I started trading in options some 5-6 months back. But then I chnged my trading style. Now I take 2-3 trades max in a month. As such these trades r all meant to capture bigger swings. Also before taking any trades I prepare a powerpoint ppt containing reason why I should take this trade, my exact entry, exit rules, sizing etc - to justify to myself whether I really should take this trade.

Needless to say, my impulsive trades got filtered out in this process. Also after initiating the trade, if it tanks i diagnose wht went wrong and keep that recorded in the same ppt. It helped me learn a lot. Learnings were mostly those common trading guidelines like buy in an uptrend, sell in a downtrend, buy above previous swing high etc etc... But maintaining records pointed out to me how often I violate rules while trading.

 

[TraderRavi]

right bro........, muhurt trading session 5101:clap:

& thereafter u know......:rofl::rofl:

Guru short karo......4500-4600-4700.........coming in 2 weeks....................................... muhurat high @ 5257......

(lagta hai guru doob gaya...)

 

[TraderRavi]

Europe rallied over 5% and DOW is over 12000 mark...over Euro deal hype...optimism at its peak......but how far it can go....

 

[jain.er]

hehe dont bother to short untill 5700 or until t market direction changes convincely .....

Shorts are squeezed today,...

 

[PGDIMES]

hehe dont bother to short untill 5700 or until t market direction changes convincely .....

Shorts are squeezed today,...

I don't think short squeezing is the name of this game... That already happened on the expiry day... this is the exuberance coming from 'phoren maal'... let's see if market can claw back to 5400 again after the morning fall... if so happens, 5555 can be the next target...