Escape's Options Trading Diary - Phase 2

[escape]

@ escape:

IMO, today is not a good day to trade. Extremely volatile in a very narrow range. No directions. Please trade very cautiously.

Burnt my hands in early morning. Lost Rs. 850/- within minutes.

Thank you bro. Until now I'm not in trade. Still indecisive.

 

[escape]

Bough 4 lots of Nifty 12OCT2012 PE 5700 @ 57.75, SL 53.70, CMP 57.35

Target would be 62.50.

 

[escape]

Bough 4 lots of Nifty 12OCT2012 PE 5700 @ 57.75, SL 53.70, CMP 57.35

Target would be 62.50.

Still holding.

 

[escape]

Still holding.

SL reduced to 50, waiting for IIP figure.

 

[escape]

SL reduced to 50, waiting for IIP figure.

SL hit 49.90, loss of 7.85, less brokerages.

 

[escape]

Bough 9 lots of Nifty 12OCT2012 PE 5700 @ 55.10

Exit @ Avg of 58.75, profit of 3.65, less brokerages.

 

[escape]

@ escape:

IMO, today is not a good day to trade. Extremely volatile in a very narrow range. No directions. Please trade very cautiously.

Burnt my hands in early morning. Lost Rs. 850/- within minutes.

Brother, how are you doing now?
Initially I lost, but MTM is around 1.1k.

 

[sumosanammain]

Bough 9 lots of Nifty 12OCT2012 PE 5700 @ 55.10

Exit @ Avg of 58.75, profit of 3.65, less brokerages.

Why 9 times quantity?

Revenge trading can destroy even the biggest traders, and has been known to bring traders to their knees.

After this post of yours, will stop following your thread, as I thought you were budding into a professional trader. Sadly, I was mistaken.

Best of luck with your trading.

 

[escape]

Why 9 times quantity?

Revenge trading can destroy even the biggest traders, and has been known to bring traders to their knees.

After this post of yours, will stop following your thread, as I thought you were budding into a professional trader. Sadly, I was mistaken.

Best of luck with your trading.

Hi Sumosanammain, Sorry that I make you little upset.
Yes, today instead of normal two lots, I'm trading around 4-5 lot, reason being is not revenge trading. Normally I trade Options in price range of 100-150. Today I'm trading Options in price range of 50-60. So doubled my position size. Although if you consider money management wise, it is still same.

About above trade, I actually took multiple trades, few lots @50 and few @55. Even while selling, sold at 3 different price. What I have posted above is Average Buy and Sell price, and total sum of lots.

After exit, again I bought 4 lots @ average price of 57, which I have not posted until now.

Kindly reconsider your decision and in case I'm doing wrong, please advise me as you have done earlier, instead of ignoring it.

Hope you will continue reading post, expect your valuable advise as earlier.

 

[escape]

Bough 4 lots of Nifty 12OCT2012 PE 5700 @ 57.00

Exit @ 66.30, profit of 9.3 points, less brokerages.