Escape's Options Trading Diary - Phase 2

[escape]

Dear Escape,

I was wondering how do you avoid sleepage with multiple orders. I have faced this issue though my quantity is not that high (in hundreds only). On an average how many points you loose from your profit target till your all orders get executed.

Also do you place limit orders?

You need to extremely fast while placing placing such orders, I am still lagging on this front and always finds myself chasing the market.

Do share your views on above points

Regards,

Pravin

Hi Pravin,

It is not averaging during trade (although some time it may happen). It is average buy price of all orders (all trades of particular script/strike) at the end of day (as shown in NOW or Bill).

So If I say 12000 options, it would be most possibly 12 Buy-Order each of 1000 options.

I always use LIMIT order.

While placing LIMIT order, I don't think speed should be concern. We get lots of opportunity to ENTER/EXIT, but as usual we miss them.


Happy Trading.

Regards,
Escape

 

[pm_shah]

Hi Pravin,

It is not averaging during trade (although some time it may happen). It is average buy price of all orders (all trades of particular script/strike) at the end of day (as shown in NOW or Bill).

So If I say 12000 options, it would be most possibly 12 Buy-Order each of 1000 options.

I always use LIMIT order.

While placing LIMIT order, I don't think speed should be concern. We get lots of opportunity to ENTER/EXIT, but as usual we miss them.


Happy Trading.

Regards,
Escape

Thanks, I got it now..
The issue with me is that I normally wait for breakout (just to be more safe about the direction) and once the breakout happens, I jump on the trade, at that moment, the movement is so fast that I literally need to chase the price to get my order filled. Need to overcome this issue.

 

[timepass]

Thanks, I got it now..
The issue with me is that I normally wait for breakout (just to be more safe about the direction) and once the breakout happens, I jump on the trade, at that moment, the movement is so fast that I literally need to chase the price to get my order filled. Need to overcome this issue.

In that case you need to place the "Buy Stop" order. If you are using NOW, then it is buy order with "SL" option. You can define the range that you want to buy in.

Suppose 6100 PE is trading at Rs. 24 and you want to buy between Rs.27-27.5, then you can define 27 as the "Trigger Price" and 27.5 as the price.

 

[escape]

Thanks, I got it now..
The issue with me is that I normally wait for breakout (juandto be more safe about the direction) and once the breakout happens, I jump on the trade, at that moment, the movement is so fast that I literally need to chase the price to get my order filled. Need to overcome this issue.

Earlier, I use to trade mostly breakout to be in right direction. But it shows lots of false breakout and hence lost much. So now I have stopped breakout trades.

Happy Trading.

 

[trdstudent]

....now I have stopped breakout trades......

Good & yes am done for this month.Both 6000PE and 6100CE holding key .Not sure which one will unlock (personally blv the CE one )

 

[escape]

Good & yes am done for this month.Both 6000PE and 6100CE holding key .Not sure which one will unlock (personally blv the CE one )

Dear Trdstudent,

Good to see you here. Hope you are having profitable trades and ending month with good profit.

Any specific reason for not trading tomorrow?

Happy Trading.

Regards,
Escape

 

[escape]

Here is log as of last session.

Intraday (Naked) trade:
NIFTY 30May2013 PE 6100 (B) 15000 @ 40.87 (S) 15000 @ 43.93 P/L +46,000

Naked Positions Holding Overnight:
None

Strategy Based Trade - May Series:
NIFTY 30May13 CE 5500 (S) 100 @ 410.00, LTP 583.15
NIFTY 30May13 PE 5500 (B) 900 @ 5.15, LTP 0.25
NIFTY 30May13 PE 6300 (S) 100 @ 405.00, LTP 210.75
NIFTY 30May13 CE 6200 (B) 200 @ 9.00, LTP 1.65
NIFTY 30May13 CE 5900 (S) 300 @ 300, LTP 184.00
NIFTY 30May13 PE 6400 (S) 300 @ 200, LTP 311.00
NIFTY 30May13 PE 6600 (S) 100 @ 366, LTP 512.65

Current Unrealized Return On Strategy Trades: -4,535


Learning/Remark:
P/L excluding brokerages and taxes.

On Positional (Strategy) trade, no change in position today.

On Intraday (Naked) trade, did multiple trades in NIFTY 30May2013 PE 6100.

 

[onlinegtrash]

Here is log as of last session.

Intraday (Naked) trade:
NIFTY 30May2013 PE 6100 (B) 15000 @ 40.87 (S) 15000 @ 43.93 P/L +46,000
...

This is impressive!
Did you manage to pull 15 trades today in ranging market!?
or have you deployed huge sum for intraday trading?

 

[trdstudent]

U r doing gr8 with ur positions escape :thumb:

.....Any specific reason for not trading tomorrow?

I don't trd expry wk unless have some really good opprtunity
And thnx for ur wellwish . This month I was big on hcltech and mostly positional on niftyfuture

 

[escape]

This is impressive!
Did you manage to pull 15 trades today in ranging market!?
or have you deployed huge sum for intraday trading?

It is 14 trades. Putting that huge money in single trade is very risky specially when we are close to expiry.