You would have to explain what standard delta or gamma play for YOU is, so I can confirm or deny what you ask for. 
General Trading Chat
- Thread starter timepass
- Start date
- Tags idle thoughts trading talk only
Buy or sell underlying if moves are a pre-determined 'x' times the std dev. Gets generally skewed by lot size for underlying futures, as spot can't be sold for >1 days in Indian markets. Also, small traders like me don't always have a lot of free margin to adjust positions.
Thats a pretty fast chart you use for options trading.
Im kinda getting older so i end up using slower charts
Good nite man. talk tomo.
Im kinda getting older so i end up using slower charts
Good nite man. talk tomo.
But that is not the point. The point is that what is shown can be adapted to much bigger time frames by using the different kind of options you can use for S&P 500 trading.
The problem will be: One full S&P 500 option will not be per lot, even deep in the money, around 300 USD. Instead even ONE deep itm option or even atm option will cost you at least 1900 USD and more, depending on the time left to expiration, which are around 130'000 Rs for one leg.
Depends on the underlying script by it self, as the ranges can depend according to market situation between 0. what ever to 2 and more what ever.
If you know what you are looking for, then you will recognize it in your chart. No idea what you use and other wise use a calculator to get your results.
If you do it geniusly just on your chart reading and level/range decisions build on it, then you will need a clear strategy which allows you to play the filters and whipsaws.
If you know what you are looking for, then you will recognize it in your chart. No idea what you use and other wise use a calculator to get your results.
If you do it geniusly just on your chart reading and level/range decisions build on it, then you will need a clear strategy which allows you to play the filters and whipsaws.
I get a sense that you are doing something similar.
I don't do it based on chart reading, but std dev calculation (used to get from Bbg earlier, now manual). Of course the std dev depends on the scrip. I haven't yet made a very elaborate model on it, just trying to test the basics first.
Anyway, your SPX is up another 20 odd points since you last posted a chart, congrats and good night
I don't do it based on chart reading, but std dev calculation (used to get from Bbg earlier, now manual). Of course the std dev depends on the scrip. I haven't yet made a very elaborate model on it, just trying to test the basics first.
Anyway, your SPX is up another 20 odd points since you last posted a chart, congrats and good night
Hi Pravi_kanth
Nice post you did :thumb:. Writing a trading journal can help you to be more focused to avoid old mistakes. I am clear it takes time to write down every day such a trading journal. As longer as you do it, as shorter the trading journal should become as you managed certain problems and stay on the level. If you want to post day by day such a trading journal is your choice, but when asking questions to others it helps them to understand better what you are doing.
Here some thoughts on your post from my side. You are absolutely free to do with it what ever you like, as I am not here to prove any thing. Here we go:
- Time frame you use: For trends you may change to bigger time frames. Your choice.
- Charting: Google does show delayed data as far as I know.
- Trading on Candles and taking decisions on candles: Very difficult even with TA indicators. Your choice.
- Reliance Terminal: You may change to an other broker as what you told about it is not good for trading.
- We all did start some where and being wrong is part of the game. (Again: Trading journal at end of day will help here)
- V shape is not always V shape and no guarantee that you have seen the low in any market. (Patterns as standalone are not very good to trade at this days)
- Learning takes time in what ever you do. So do recognize it and specially do accept it and do not make your self down about it. It is called: Positive Thinking Attitude.
- Good choice of persons you did decide to follow. It all depends on what and how you want to trade. Never go for system hunting, as the trading system is just a part of your whole trading. Instead learn how to trade both sides, long and short, and that will do the job.
Next point:
People who know me for longer in the forum know that I am not directly involved in your market, as my home market is CME and this most of the time in the Globex market. As many times Globex during the day is not much stress, Nifty is as well on my screen. But where ever you trade, charts are charts, PTA is PTA, TA are TA's. Only different in this case: I can trade options in what ever futures (Index, commodities, currencies and so on) which in your home market is not possible.
If done any trade in your Nifty market with the above mentioned:
- If island gaps, then trend lines after 10:00 on what is shown until then on the intra day chart plus PA. Not perfect for trending days and quit good for normal days in Nifty.
- If no gap, then trend lines on the daily and intra day chart, PA and entry end exit or filter zones around those touch levels.
- Strategy: Naked options and specially advanced option strategies with different derivatives (Options in all kind of ways, futures in all kind of ways and even stocks) with even leg in, which can be done easily in Nifty.
Now I wish you all the best. I am sure dear ST and all the other seniors and members you follow will take care of you, as long as you also show them a bit what you do when asking questions to them.
Take care / Dan
Nice post you did :thumb:. Writing a trading journal can help you to be more focused to avoid old mistakes. I am clear it takes time to write down every day such a trading journal. As longer as you do it, as shorter the trading journal should become as you managed certain problems and stay on the level. If you want to post day by day such a trading journal is your choice, but when asking questions to others it helps them to understand better what you are doing.
Here some thoughts on your post from my side. You are absolutely free to do with it what ever you like, as I am not here to prove any thing. Here we go:
- Time frame you use: For trends you may change to bigger time frames. Your choice.
- Charting: Google does show delayed data as far as I know.
- Trading on Candles and taking decisions on candles: Very difficult even with TA indicators. Your choice.
- Reliance Terminal: You may change to an other broker as what you told about it is not good for trading.
- We all did start some where and being wrong is part of the game. (Again: Trading journal at end of day will help here)
- V shape is not always V shape and no guarantee that you have seen the low in any market. (Patterns as standalone are not very good to trade at this days)
- Learning takes time in what ever you do. So do recognize it and specially do accept it and do not make your self down about it. It is called: Positive Thinking Attitude.
- Good choice of persons you did decide to follow. It all depends on what and how you want to trade. Never go for system hunting, as the trading system is just a part of your whole trading. Instead learn how to trade both sides, long and short, and that will do the job.
Next point:
People who know me for longer in the forum know that I am not directly involved in your market, as my home market is CME and this most of the time in the Globex market. As many times Globex during the day is not much stress, Nifty is as well on my screen. But where ever you trade, charts are charts, PTA is PTA, TA are TA's. Only different in this case: I can trade options in what ever futures (Index, commodities, currencies and so on) which in your home market is not possible.
If done any trade in your Nifty market with the above mentioned:
- If island gaps, then trend lines after 10:00 on what is shown until then on the intra day chart plus PA. Not perfect for trending days and quit good for normal days in Nifty.
- If no gap, then trend lines on the daily and intra day chart, PA and entry end exit or filter zones around those touch levels.
- Strategy: Naked options and specially advanced option strategies with different derivatives (Options in all kind of ways, futures in all kind of ways and even stocks) with even leg in, which can be done easily in Nifty.
Now I wish you all the best. I am sure dear ST and all the other seniors and members you follow will take care of you, as long as you also show them a bit what you do when asking questions to them.
Take care / Dan
I will move on to my learning with valuable advices
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