Escape's Options Trading Diary - Phase 2

[mkbsiva]

Here is log as of last session.

Log:
NIFTY 28Feb13 CE 6000.00 (B) 250 @ 22.47 (S) 250 @ 23.42 (P/L) 237.50

Result:
After deducting all charges: Rs. 226.12
Overnight Position: NIFTY 28Feb13 CE 6000.00 (B)1250 @ 40.90

Learning/Remark:
Still I'm holding good amount of NIFTY CE 6000 at higher price, I may have bigger losses, but will wait for sometime, may be until expiry.

Overnight Position: NIFTY 28Feb13 CE 6000.00 (B)1250 @ 40.90

Exit all positions at average of 26.10, loss of 14.80 points, less brokerages.
Exited bit early (lost patience), I should have given more time.

Finally closed all open position !!!

You were having the patience when your position is in loss....hoping for a recovery

but you don't have the same patience when your position is recovering or in profit....fearing that it will go down again...

you should work on that Hope factor and fear factor....

i am not pointing out your mistake... just trying to highlight your weakness.

 

[escape]

You were having the patience when your position is in loss....hoping for a recovery

but you don't have the same patience when your position is recovering or in profit....fearing that it will go down again...

you should work on that Hope factor and fear factor....

i am not pointing out your mistake... just trying to highlight your weakness.

Mkbsiva, You are absolutely correct. I need to learn other way around. Lose patience immediately in case of loosing trade, and have patience in case of profit trade.

Anyway, in-spite of losing good amount, and losing good opportunity to recover all my losses, still I'm little relaxed, as there is no overnight naked open position now.

Before month end, I have to trade cautiously and not to make any further losses and try to recover as much possible.

Let's see result.

 

[escape]

Here is log as of last session.

Log:
NIFTY 28Feb13 CE 6000.00 (O+B) 2250 @ 34.70 (S) 2250 @ 26.12 (P/L) -19307.50

Result:
After deducting all charges: Rs. -19388.00
Overnight Position: NIFTY 28Feb13 CE 6000.00 (B)1200 @ 38.35

Learning/Remark:
While market going up, I was on right track, stilll I lost patience and took earlier exit with big hit on P/L. I should have trailed SL, instead of taking simply EXIT.

 

[TraderRavi]

While market going up, I was on right track, stilll I lost patience and took earlier exit with big hit on P/L. I should have trailed SL, instead of taking simply EXIT.

same here bhai....instead of exit ....I sud have trailed it ...

 

[escape]

Bought 18 lots of Nifty 28Feb2013 CE 6000 @ 35.10, SL 34.10, CMP 36.10

 

[escape]

Bought 18 lots of Nifty 28Feb2013 CE 6000 @ 35.10, SL 34.10, CMP 36.10

Exit 9 lots @ 37.50.
SL for remaining 9 lots @ 36.15

 

[escape]

Exit 9 lots @ 37.50.
SL for remaining 9 lots @ 36.15

Exit remaining @ 37.65.

Overall profit of 2.45 points, less brokerages.

 

[escape]

Bought 18 lots of Nifty 28Feb2013 CE 6000 @ 36.10, SL 34.10, CMP 37.10

 

[augubhai]

You were having the patience when your position is in loss....hoping for a recovery

but you don't have the same patience when your position is recovering or in profit....fearing that it will go down again...

you should work on that Hope factor and fear factor....

i am not pointing out your mistake... just trying to highlight your weakness.

Great observation Siva. Thanks :thumb:

 

[escape]

Bought 18 lots of Nifty 28Feb2013 CE 6000 @ 36.10, SL 34.10, CMP 37.10

Exit 10 lots @ 37.10.

Bought 1 more lots @ 35.75.
Overall holding 9 more lots, SL now 36.20