Escape's Options Trading Diary - Phase 2

[escape]

Bought 2 lots of Nifty 31Jan2013 CE 6000 @ 57.30, SL 52.00, CMP 57.50

 

[escape]

Bought 2 lots of Nifty 31Jan2013 CE 6000 @ 57.30, SL 52.00, CMP 57.50

Bought 6 more lots @ 55.60.

Holding 8 lots Avg. @ 56.02, SL 51.00, CMP 54.40

 

[escape]

Bought 6 more lots @ 55.60.

Holding 8 lots Avg. @ 56.02, SL 51.00, CMP 54.40

Exit all lots @ 59.00, profit of 2.98 points, less brokerages.

MTM Status: Red

 

[escape]

Bought 9 lots of Nifty 31Jan2013 PE 6000 @ 31.70, SL 27.00, CMP 30.45

 

[escape]

Bought 9 lots of Nifty 31Jan2013 PE 6000 @ 31.70, SL 27.00, CMP 30.45

Exit all @ 32.70. Profit of 1.00 points, less brokerages.

MTM Status: Red

Seems this exit is not correct, has potential to go up further.

 

[kiran_thiru]

hi bro, i was inspired from your thread. i read all your posts. in your strategy your SL is too far than your Target. keep an eye about that.
from last three days i again started options trading. but strictly in NIFTY. i use sharekhan graph for TGT and SL through Super Trend indicator. trading in Zerodha for less commission. i think strictly follow the SL. but in trading i didn't strict in that. but in my luck i get profit in those trades, cause of gessing from chart. but SL is most important than luck. i will post a thread from monday about my trades.
thanks for inspiring.:clapping:

 

[escape]

hi bro, i was inspired from your thread. i read all your posts. in your strategy your SL is too far than your Target. keep an eye about that.
from last three days i again started options trading. but strictly in NIFTY. i use sharekhan graph for TGT and SL through Super Trend indicator. trading in Zerodha for less commission. i think strictly follow the SL. but in trading i didn't strict in that. but in my luck i get profit in those trades, cause of gessing from chart. but SL is most important than luck. i will post a thread from monday about my trades.
thanks for inspiring.:clapping:

Hi Kiran, Thank you for reading my thread and giving me your view regarding SL.

My SL that I post is initial SL, that is normally around 10% below my buy rate. And I keep is trailing up (if it favors) based on last Support Level and other factors.

Yes, putting SL level is most important thing. I try to put SL order immediately but sometime, due to various reason, even I miss it. Somewhere I have read (guess in some user's signature), difference between good trader and bad trader is SL.

As you have started Options trading again, hope this time you will have better result than earlier ones and will have good success ratio. Super Trend is good indicator, I used it for sometime, but I prefer S/R levels.

Try posting your trades with SL and target (if any). I'm eager to see your thread and postings.

All the best bro.

 

[escape]

Bought 9 lots of Nifty 31Jan2013 PE 6000 Avg @ 31.20, SL 27.00, CMP 30.25

 

[escape]

Bought 9 lots of Nifty 31Jan2013 PE 6000 Avg @ 31.20, SL 27.00, CMP 30.25

SL hit @ 27.00, loss of 4.10 points.
MTM Status: Red

 

[kiran_thiru]

how do you get support and resistens levels and how do you change them. what charting software you use