Escape's Options Trading Diary - Phase 2

[ganeshams]

Dear Aditya, Arcus, Soft_Trader, Ganeshams, Onlinegtrash and Prakash,

Thank you for your post, criticism, advise and healthy discussion.

Regarding account size, I cannot disclose. Already I'm putting lots of information online, which itself is not good. But for sure, I'm not Ambani or Tata or Birla and I don't have unlimited funds

Regarding trades, I don't have to give justification. It is confirmed bad trade. I have done mistake not exiting it earlier. It is my emotion that stopped me to exiting it, assuming that current level will be resistance.

About exposure, yes still it is under my limit. If I exit in loss in next few days, I'm fine with it.

About risk management, it is there. If you notice all my Options rates are under 45 except for Shorting ones (based on my method), that indirectly gives me less exposure. Some time because of averaging my quantity goes higher and increases exposure.

@Aditya,
Current loss is huge, I do agree. Still it is under my limit, else until now you might have seen quantity of each 2-3 times current size.

@Arcus,
Thank you for your advise. My current exposure is under limit. It is not based on individual trade, but overall.

@Ganeshams,
Ideally I should leave board or close this thread. But I'm not leaving board as of now. I have done mistake, I'm accepting it. I may repeat it again too. But I didn't repeat mistake knowingly. Every higher level, gave me false hope that it is resistance and market will turn around.

@Onlinegtrash,
Yes, I have repeated mistake. You are correct. It was false hope that current level is resistance, kept me in trade. May be as you said "House money effect" of last month's profit.

@Prakash,
I do agree with all your advise. Those are best practices, but when I'm on console, sometime, things goes completely wrong. Never ending learning.

@Everyone,
Thank you advise. As of now all my trades in current series went wrong. Seriously something is wrong, I need to rectify it.

Happy Trading to all

Regards,
Escape

Very Good Escape. you have have all the qualities of good trader
All the best :thumb::thumb::thumb:

 

[escape]

Very Good Escape. you have have all the qualities of good trader
All the best :thumb::thumb::thumb:

Dear Ganeshams,

Including lots of bad qualities, which I need to get rid of.

Happy Trading

Regards,
Escape

 

[soft_trader]

Dear Aditya, Arcus, Soft_Trader, Ganeshams, Onlinegtrash and Prakash,

Thank you for your post, criticism, advise and healthy discussion.

Regarding account size, I cannot disclose. Already I'm putting lots of information online, which itself is not good. But for sure, I'm not Ambani or Tata or Birla and I don't have unlimited funds

Regarding trades, I don't have to give justification. It is confirmed bad trade. I have done mistake not exiting it earlier. It is my emotion that stopped me to exiting it, assuming that current level will be resistance.

About exposure, yes still it is under my limit. If I exit in loss in next few days, I'm fine with it.

About risk management, it is there. If you notice all my Options rates are under 45 except for Shorting ones (based on my method), that indirectly gives me less exposure. Some time because of averaging my quantity goes higher and increases exposure.

@Aditya,
Current loss is huge, I do agree. Still it is under my limit, else until now you might have seen quantity of each 2-3 times current size.

@Arcus,
Thank you for your advise. My current exposure is under limit. It is not based on individual trade, but overall.

@Ganeshams,
Ideally I should leave board or close this thread. But I'm not leaving board as of now. I have done mistake, I'm accepting it. I may repeat it again too. But I didn't repeat mistake knowingly. Every higher level, gave me false hope that it is resistance and market will turn around.

@Onlinegtrash,
Yes, I have repeated mistake. You are correct. It was false hope that current level is resistance, kept me in trade. May be as you said "House money effect" of last month's profit.

@Prakash,
I do agree with all your advise. Those are best practices, but when I'm on console, sometime, things goes completely wrong. Never ending learning.

@Everyone,
Thank you advise. As of now all my trades in current series went wrong. Seriously something is wrong, I need to rectify it.

Happy Trading to all

Regards,
Escape

Ok. If the current loss is within your comfort level then it is ok. No need to listen to the criticisms. If you are comfortable with your money management level then no need to worry about. Just follow your rules.

Have a great trading ahead. :thumb:

 

[escape]

Ok. If the current loss is within your comfort level then it is ok. No need to listen to the criticisms. If you are comfortable with your money management level then no need to worry about. Just follow your rules.

Have a great trading ahead. :thumb:

Criticisms and Healthy discussion are always welcome. They always teach something new. Although I try to remember, but forget them often.

Loss is under my comfort level as of now, and I will book loss once action is required.

 

[prakash2010]

A big short covering is on the cards.

Just be alert.

 

[escape]

Here is log as of yesterday, no trade today.

Intraday (Naked) trade:
NIFTY 25Jul2013 CE 6100 (B) 1000 @34.75, (S) 1000 @ 36.75, P/L +2,000

Naked Positions Holding Overnight:
NIFTY 25Jul2013 PE 5400 (B) 8000 @15.15, (S) 8000 @ 2.16, P/L -1,03,920
NIFTY 25Jul2013 PE 5500 (B) 4000 @ 19.28, (S) 4000 @ 3.60, P/L -62,720
NIFTY 25Jul2013 PE 5600 (B) 2000 @ 26.38, (S) 2000 @ 5.50, P/L -41,760

Strategy Based Trade - July Series: Open
NIFTY 25Jul2013 CE 5500 (S) 250 @ 346.00, LTP 529.25
TDB

Current Realized Return on Strategy Trades: NONE
Current Unrealized Return On Strategy Trades: -45,812.50


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

On Positional (Strategy) trade, added one lot NIFTY 25Jul2013 CE 5500.

On Intraday (Naked) trade, traded NIFTY 25Jul2013 CE 6100.

On holding positions, exited old trades.

 

[escape]

Here is log as of yesterday, no trade today.

Intraday (Naked) trade:
NIFTY 25Jul2013 CE 6100 (B) 2000 @13.75, (S) 2000 @ 14.60, P/L +1,700
NIFTY 25Jul2013 PE 5800 (B) 7000 @24.66, (S) 7000 @ 26.74, P/L +14,560

Naked Positions Holding Overnight:
NIFTY 25Jul2013 PE 5800 (B) 7000 @24.66, LTP 17.25


Strategy Based Trade - July Series: Open
NIFTY 25Jul2013 CE 5500 (S) 250 @ 346.00, LTP 475
TDB

Current Realized Return on Strategy Trades: NONE
Current Unrealized Return On Strategy Trades: -32,250


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

On Positional (Strategy) trade, no change today.

On Intraday (Naked) trade, traded NIFTY 25Jul2013 CE 6100 and NIFTY 25Jul2013 PE 5800.

On holding positions, added NIFTY 25Jul2013 PE 5800.

 

[aditya14]

Here is log as of yesterday, no trade today.

Intraday (Naked) trade:
NIFTY 25Jul2013 CE 6100 (B) 2000 @13.75, (S) 2000 @ 14.60, P/L +1,700
NIFTY 25Jul2013 PE 5800 (B) 7000 @24.66, (S) 7000 @ 26.74, P/L +14,560

Naked Positions Holding Overnight:
NIFTY 25Jul2013 PE 5800 (B) 7000 @24.66, LTP 17.25


Strategy Based Trade - July Series: Open
NIFTY 25Jul2013 CE 5500 (S) 250 @ 346.00, LTP 475
TDB

Current Realized Return on Strategy Trades: NONE
Current Unrealized Return On Strategy Trades: -32,250


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

On Positional (Strategy) trade, no change today.

On Intraday (Naked) trade, traded NIFTY 25Jul2013 CE 6100 and NIFTY 25Jul2013 PE 5800.

On holding positions, added NIFTY 25Jul2013 PE 5800.

Again same mistake,you take 1-2 rs profit and loss you don`t book early instead keep averaging.You need to take some time off and rethink your plan, this will not end with a happy ending.

 

[trdstudent]

Escape,don't get me wrong but sometimes we need to take a brk and think and go back to drwingbrd .It helps even if u r not in that much bad space....been there many times and those brks only make things more closer to prfction Am a friend so plz do not get me wrong .

 

[escape]

Again same mistake,you take 1-2 rs profit and loss you don`t book early instead keep averaging.You need to take some time off and rethink your plan, this will not end with a happy ending.

Escape,don't get me wrong but sometimes we need to take a brk and think and go back to drwingbrd .It helps even if u r not in that much bad space....been there many times and those brks only make things more closer to prfction Am a friend so plz do not get me wrong .

Thank you both for advise.
This month I'm terribly went wrong.
Expect for keeping watch on Strategy, I will take break from "Intraday" and "Naked Positions Holding Overnight" trading until this weekend.

@Trdstudent,
I do understand.

Happy Trading

Regards,
Escape