Escape's Options Trading Diary - Phase 2

[escape]

Bought 2 lots of Nifty 31Jan2013 PE 6200 @ 118.05, SL 108.00, CMP 118.35

 

[escape]

Bought 2 lots of Nifty 31Jan2013 PE 6200 @ 118.05, SL 108.00, CMP 118.35

Exit @ 113.50, loss of 4.55 points, less brokerages.

 

[escape]

Here is log as of last session.

Log:
NIFTY 31Jan13 CE 6000 (B) 350 @ 98.62 (S) 350 @ 101.75 (P/L) 1095.50
NIFTY 31Jan13 PE 6100 (B) 350 @ 111.23 (S) 350 @ 112.21 (P/L) 343.00

Result:
After deducting all charges: Rs. 1304.71

Learning/Remark:
Although I ended in Green, felt it was difficult day.

I was on right side of market (my first and second trade). But as it failed to reach my initial target (yes I kept multiple targets), I lowered target to 101.75 for all lots and as soon as market hit my target, it went high of 120. I missed good move.

My second trade is averaging, which I personally avoid. But took it as it looked to be at support level.

I repeated earlier mistake in third trade too. I squared-off @ avg. of 111.70, and it moved to high of 121.90.

Last trade was unwanted trade, I should have avoided. I lost 4.55 points, it gave me multiple opportunities to exit with profit, but I missed and ended in Red.

While exiting on target, I must offload positions in multiple trades (in parts) and trail Stop Loss for remaining to at least Buy Price or 2 points below last target immediately.

 

[escape]

Bought 4 lots of Nifty 31Jan2013 CE 6000 @ 106.75, SL 96.00, CMP 107.50

 

[escape]

Bought 4 lots of Nifty 31Jan2013 CE 6000 @ 106.75, SL 96.00, CMP 107.50

Sold 2 lots @ 110.50, holding 2 lots now, CMP 107.90

 

[escape]

Sold 2 lots @ 110.50, holding 2 lots now, CMP 107.90

Sold remaining 2 lots @ 110.70.
Avg. Sell Price is 110.60, profit of 3.85, less brokerages.

 

[escape]

Bought 4 lots of Nifty 31Jan2013 PE 6200 @110.00, SL 100.00, CMP 109.70

 

[escape]

Bought 4 lots of Nifty 31Jan2013 PE 6200 @110.00, SL 100.00, CMP 109.70

Added another 2 lots @ 105.75.
Now holding 6 lots @ Avg. Buy rate of 108.58, SL 100.00, CMP 106.30

 

[escape]

Added another 2 lots @ 105.75.
Now holding 6 lots @ Avg. Buy rate of 108.58, SL 100.00, CMP 106.30

Squared-off all positions @ Avg of 114.83, profit of 6.25 points, less brokerages.

 

[jassinko]

Squared-off all positions @ Avg of 114.83, profit of 6.25 points, less brokerages.

what made u think that spot 6085 will break.... i took put at 6096 but booked at 6088 spot..... pls explain