Escape's Options Trading Diary - Phase 2

[escape]

Bought 2 lots of Nifty 28Feb2013 PE 6000 @ 75.20, SL 77.50, CMP 78.10

 

[escape]

Bought 2 lots of Nifty 28Feb2013 PE 6000 @ 75.20, SL 77.50, CMP 78.10

Exit @ 78.50, profit of 3.30 points, less brokerages.

 

[escape]

SL hit @ 45.50, loss of 0.30 points, less brokerages.
This was winning trade, but I didn't exited at right time.

It was 5 lots and not 2.

 

[escape]

Bought 6 lots of Nifty 28Feb2013 PE 6000 @ 80.45, SL 76.15, CMP 80.40

 

[escape]

Bought 6 lots of Nifty 28Feb2013 PE 6000 @ 80.45, SL 76.15, CMP 80.40

SL hit @ 76.15, loss of 4.30 points.
Again I repeated mistake of buying more lots at assumption of breakout.

 

[escape]

Here is log as of last session.

Log:
NIFTY 28Feb13 PE 5900.00 (B-Overnight) 200 @ 34.94 (S) 200 @ 32.87 (P/L) -414.00
NIFTY 28Feb13 PE 5900.00 (B) 100 @ 32.90 (S) 100 @ 32.87 (P/L) -3.00
NIFTY 28Feb13 CE 6100.00 (B) 2250 @ 48.50 (S) 2250 @ 47.81 (P/L) -1552.50
NIFTY 28Feb13 PE 6000.00 (B) 2100 @ 70.75 (S) 2100 @ 70.43 (P/L) -672.50

Result:
After deducting all charges: Rs. -2724

Overnight Position: NIFTY 28Feb13 PE 6000.00 (B) 300 @ 70.75

Learning/Remark:
I tried with different approach for SL. It is close SL and end up trading extra. As this approach of SL stopped me from bigger losses, I'll continue this approach for some more time to see success factor.

At few instances, didn't trailed SL or exited position at right time and ended up in negative.

Since last 5 trading sessions, I'm ending up with negative daily. Let's hope today I'll have positive result.

 

[appy050]

All the Best.

 

[escape]

Current Position:
Overnight Position: NIFTY 28Feb13 PE 6000.00 (B) 300 @ 70.75.

SL hit @ 90.50, profit of 19.75 points, less brokerages.

 

[escape]

Bought 2 lots of Nifty 28Feb2013 CE 6000 @ 66.50, SL 69.00, CMP 70.50

 

[escape]

Bought 2 lots of Nifty 28Feb2013 CE 6000 @ 66.50, SL 69.00, CMP 70.50

SL hit @ 69.50, profit of 3.50 points, less brokerages.