Escape's Trading Diary - Options

[escape]

Bought NIFTY 30Aug2012 PE 5400 @ 92.50, SL @ 90.60, CMP 94.
Instead of looking for momentum, I felt there is strong support @92.50.

SL Order triggered, Exit price 89.45, loss of 3.05 points and brokerage. It was bad decision going without momentum, and just on support level.

 

[del_66]

Bought NIFTY 30Aug2012 PE 5400 @ 92.50, SL @ 90.60, CMP 94.
Instead of looking for momentum, I felt there is strong support @92.50.

Trends, Swing lows and highs, pivots, S&R... do you know anything about these...

 

[escape]

Trends, Swing lows and highs, pivots, S&R... do you know anything about these...

Yes del_66, yes. I'm aware of S/R, pivots, trends. My first preference is always to see momentum, place little above current price so as to confirm if momentum.

 

[escape]

Log:
Everyday is new learning.
Overall it was ok day to trade, lost around Rs 226.

NIFTY OPT 30AUG 12 PE @ 5400 (B)50 @93.7 (S)50 @89.45 -212.50

Result:
After deducting all charges: Rs -226

Capital Status:
Exact Initial Capital: Rs. 15746
Current Ledger balance Rs. 13890 (-1856)

Learning:
I have to stick to my strategy of catching momentum, next priority can be given to support/resistance.

 

[escape]

Bought NIFTY 30Aug2012 PE 5400 @ 75.75, SL @ 71.35, CMP 75.15.

 

[escape]

Bought NIFTY 30Aug2012 PE 5400 @ 75.75, SL @ 71.35, CMP 75.15.

Bad luck, went it went up, there was software glitch lost connection and now sl hit.

SL Hit Exit @ 71.20, loss of 4.55 points + brokerage.

 

[escape]

Bought back NIFTY 30Aug2012 PE 5400 @ 63.45, SL @ 59.35, CMP 64.70.

 

[escape]

Bought back NIFTY 30Aug2012 PE 5400 @ 63.45, SL @ 59.35, CMP 64.70.

SL triggered, exit @ 57.25, loss of 6.2 points + brokerage.

 

[del_66]

Have you read any books on TA?

 

[escape]

Have you read any books on TA?

Not end to end any specific book. Have gone through lots of indicators, examples of strategies, trading plans, have good idea about risk management, and learning money management now.