Escape's Options Trading Diary - Phase 2

[escape]

Bough Nifty 12OCT2012 PE 5800 @ 151.35, SL 144.70, CMP 154

 

[escape]

Bough Nifty 12OCT2012 PE 5800 @ 151.35, SL 144.70, CMP 154

SL hit @ 144.20, loss of 7.15 points, less brokerages.

 

[prakash2010]

Market sideways.

Wait for infosys results and iip data tomorrow.

 

[escape]

Market sideways.

Wait for infosys results and iip data tomorrow.

Thank you buddy.
Yeah, I was trying breakout and mostly it failed. Until now, almost all trades resulted in negative.

 

[escape]

Bough 4 lots Nifty 12OCT2012 PE 5800 @ 127.00,

Exit @ 122, loss of 5 points.
I'm on wrong side of market. Almost all trades are negative today.

 

[gunsho]

Bough 4 lots Nifty 12OCT2012 PE 5800 @ 127.00,

Exit @ 122, loss of 5 points.
I'm on wrong side of market. Almost all trades are negative today.

Recently, day trading is bit tough when compared to previous days. Atleast for past 1 r 2 months. ATR on daily frame is ~65.

 

[escape]

Recently, day trading is bit tough when compared to previous days. Atleast for past 1 r 2 months. ATR on daily frame is ~65.

At the start of day, I tried trading on break-out, but most of break-out failed. Later on tried on S/R levels .. and I was on wrong side buying PEs and lost lots of points. Few more trade which I didn't posted here.

Almost already lost 5.5k today.

In short I'm on wrong side or using wrong technique today.

 

[thanibee]

At the start of day, I tried trading on break-out, but most of break-out failed. Later on tried on S/R levels .. and I was on wrong side buying PEs and lost lots of points. Few more trade which I didn't posted here.

Almost already lost 5.5k today.

In short I'm on wrong side or using wrong technique today.

It's better not to give in to emotions and quit for today.

 

[soft_trader]

At the start of day, I tried trading on break-out, but most of break-out failed. Later on tried on S/R levels .. and I was on wrong side buying PEs and lost lots of points. Few more trade which I didn't posted here.

Almost already lost 5.5k today.

In short I'm on wrong side or using wrong technique today.

I am also on the same boat bro. Lost 4K today because holding the PE. My friend also lost around 9.5K because of Infy strangle. Look at Infy PE and CE, both are down heavily.

I was holding PE in the sense that market may not go up so high. Forgotten that market can do anything. I the morning I was in a profit of 1K from there I am now in -4K.

Disgusting

 

[gunsho]

At the start of day, I tried trading on break-out, but most of break-out failed. Later on tried on S/R levels .. and I was on wrong side buying PEs and lost lots of points. Few more trade which I didn't posted here.

Almost already lost 5.5k today.

In short I'm on wrong side or using wrong technique today.

May be having higher timeframe's direction would help, and take only those trades in lower tf. I have seen many others using some EMA to decide. when price is above that ema, take only long trades, and when below, take only shorts. (drawback, when trend is reversing, we will enter at a later point, when that higher timeframe also changes the trend).

Some actually have limit on number of losing trades (like if 2 trades hit SLs, then close for the day). I am sure you might have come across many thing like this. With continuous SL hits, it had shaken my confidence to take the next trade .