Escape's Options Trading Diary - Phase 2
How can I share with you bro when I myself can't control my greed :annoyed:
In the morning bought 5700PE and made 1K. After that I should have refrained from trading, but I again bought 5700PE because it seemed that there will be a breakdown, today Nifty tried to break below 5640, 8 times. But it failed. Finally before 1PM I switched off my terminal. I haven't placed any SL because I was more or less convinced that Nifty will not go to up too much, and anyway Nifty is in a downtrend. On returning back at 2:30PM I saw my PE at 52 which I bought @ 90+ I immediately squared it off. And bought 5700CE that was another mistake, After buying it at 84 it immediately gone down to 79. I exited all the positions and gone to sleep.
If I could have controlled my greed then I could have saved my profit.
In the morning bought 5700PE and made 1K. After that I should have refrained from trading, but I again bought 5700PE because it seemed that there will be a breakdown, today Nifty tried to break below 5640, 8 times. But it failed. Finally before 1PM I switched off my terminal. I haven't placed any SL because I was more or less convinced that Nifty will not go to up too much, and anyway Nifty is in a downtrend. On returning back at 2:30PM I saw my PE at 52 which I bought @ 90+ I immediately squared it off. And bought 5700CE that was another mistake, After buying it at 84 it immediately gone down to 79. I exited all the positions and gone to sleep.
If I could have controlled my greed then I could have saved my profit.
How can I share with you bro when I myself can't control my greed :annoyed:
In the morning bought 5700PE and made 1K. After that I should have refrained from trading, but I again bought 5700PE because it seemed that there will be a breakdown, today Nifty tried to break below 5640, 8 times. But it failed. Finally before 1PM I switched off my terminal. I haven't placed any SL because I was more or less convinced that Nifty will not go to up too much, and anyway Nifty is in a downtrend. On returning back at 2:30PM I saw my PE at 52 which I bought @ 90+ I immediately squared it off. And bought 5700CE that was another mistake, After buying it at 84 it immediately gone down to 79. I exited all the positions and gone to sleep.
If I could have controlled my greed then I could have saved my profit.
In the morning bought 5700PE and made 1K. After that I should have refrained from trading, but I again bought 5700PE because it seemed that there will be a breakdown, today Nifty tried to break below 5640, 8 times. But it failed. Finally before 1PM I switched off my terminal. I haven't placed any SL because I was more or less convinced that Nifty will not go to up too much, and anyway Nifty is in a downtrend. On returning back at 2:30PM I saw my PE at 52 which I bought @ 90+ I immediately squared it off. And bought 5700CE that was another mistake, After buying it at 84 it immediately gone down to 79. I exited all the positions and gone to sleep.
If I could have controlled my greed then I could have saved my profit.
Mentally I was thinking exactly like you. I was so confident about PE that in between I bought 4 lots instead of normal 2, while you didn't kept SL.
Here is log as of last session.
Log:
NIFTY 25Oct12 CE 5600.00 (B) 500 @ 140.69 (S) 500 @ 140.59 (P/L) -50.00
NIFTY 25Oct12 PE 5800.00 (B) 1100 @ 131.92 (S) 1100 @ 125.03 (P/L) -7579.00
Result:
After deducting all charges: Rs. -8021.45
Capital Status (Since September):
Exact Initial Capital: Rs. 45,000/-
Current Ledger balance Rs. 25806.63 (-19193.37)
Learning/Remark:
Yesterday itself I wrote here in thread not to have bigger loss and today I had bigger loss. I completely failed to understand market and instead of seeing what actually going inside market, were working on guts and was against market. Hence had bigger loss and frustration.
Log:
NIFTY 25Oct12 CE 5600.00 (B) 500 @ 140.69 (S) 500 @ 140.59 (P/L) -50.00
NIFTY 25Oct12 PE 5800.00 (B) 1100 @ 131.92 (S) 1100 @ 125.03 (P/L) -7579.00
Result:
After deducting all charges: Rs. -8021.45
Capital Status (Since September):
Exact Initial Capital: Rs. 45,000/-
Current Ledger balance Rs. 25806.63 (-19193.37)
Learning/Remark:
Yesterday itself I wrote here in thread not to have bigger loss and today I had bigger loss. I completely failed to understand market and instead of seeing what actually going inside market, were working on guts and was against market. Hence had bigger loss and frustration.
Hi,
Yesterday, it was unlucky day of trading for me. At 9:17 bought CE5700 @ 62.15 eventhough other asian markets were in red. But NF preopen was +0.20%. Next minute it went down. So i closed the position @ 53.10 at 10:24. With a loss of 9.05 per lot. Thanked the market for a decent loss. Then no trade after. A trade is enough a day whether good or bad.
Then watched the market after the euro market opens. Felt bad of myself. The NF turned green and crossing R1. CE5700 was touching my buy level and went up to 95.
My decision was correct for going call. But early exit. The lesson is patience.
Yesterday, it was unlucky day of trading for me. At 9:17 bought CE5700 @ 62.15 eventhough other asian markets were in red. But NF preopen was +0.20%. Next minute it went down. So i closed the position @ 53.10 at 10:24. With a loss of 9.05 per lot. Thanked the market for a decent loss. Then no trade after. A trade is enough a day whether good or bad.
Then watched the market after the euro market opens. Felt bad of myself. The NF turned green and crossing R1. CE5700 was touching my buy level and went up to 95.
My decision was correct for going call. But early exit. The lesson is patience.
Similar threads
-
Explore Enhanced Options Strategy Analysis- Backtest Expired Options W/O Downloading From NSE
- Started by newtrader101
- Replies: 6
-
Why do some deep OTM options increase in value while less deep OTM options dont?
- Started by newtrader101
- Replies: 3
-
-
Escape's Options Trading Diary - Strategy Based (Phase 1)
- Started by escape
- Replies: 86
-