Escape's Options Trading Diary - Phase 2

[escape]

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.

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

I'm holding now 4 lots of PE 5000 @ 108, I'm thinking of keeping it overnight, not sure (its dangerous), what's your view on it?

Infy result are expected not to meet market expectations.

 

[escape]

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 .

Thank you Gunsho for your post and suggestion.

I use 1 min and 2 min chart. In between to identify trend randomly I check 5/10 min charts. Most of time I prefer to trade on break-out. Today first half I tried few trades on break-out of last swing high or level where price stayed for sometime. It didn't work out, so I switched to support level .. unfortunately at that moment support level broke (break-out) and lost around 5-10 points in subsequent trades.

Anyway, will sum-up it is bad day for us. Let's try to recover if possible.

 

[soft_trader]

I'm holding now 4 lots of PE 5000 @ 108, I'm thinking of keeping it overnight, not sure (its dangerous), what's your view on it?

Infy result are expected not to meet market expectations.

I would say it's highly risky. What if Infy gave a flat result? And Infy's bad result may have already priced in into the market.

 

[escape]

I would say it's highly risky. What if Infy gave a flat result? And Infy's bad result may have already priced in into the market.

Yes brother. It makes sense.

 

[escape]

http://www.moneycontrol.com/news/lo...nfosys-lt-tata-motors-bharti-lead_767727.html

Nifty spikes 1%; Infosys, L&T, Tata Motors, Bharti lead
Indian shares gained strength following rebound in European markets and on hopes of more reforms by the government. Today the Cabinet has allowed to direct transfer of urea subsidy, and tomorrow the Rangarajan Committee, set up by the prime ministers office (PMO), is going to submit sugar decontrol report to Prime Minister.


So tomorrow, market may open positive.

 

[timepass]

INR weakness would have benefited all the exporters in the last quarter.

 

[escape]

Squared-off all positions, loss of ~8k today.

 

[shrisha.karanth]

Is that market could fall tommrow after infy result

 

[escape]

Is that market could fall tommrow after infy result

Difficult to predict now. Be ready with both strategies (if it falls or moves up).

 

[soft_trader]

Looks like I have to implement a Circuit breaker in my mind now. i.e. Profit/loss beyond a certain level, I should halt trading for that day.