General Trading Chat

[princy01]

princy ji .. whats the average points SL you give on
NIFTY : ?
BANKNIFTY : ?

..
Do you trade stocks options ?

well only banknifty and nifty options

i dont know any average sl , i trade on charts visual sl , if chart sl is way too far ,i decide somewhere in between so that my risk is in control , for example if the previous 1 hour bar is too big for sl , i take sl 50% of that bar , it depends on current setup itself .

i am more of a discretionary trader , and in options i cant have a perfect setup scenario because options are too volatile for that , sometimes , infact most of the time i dont know what i am gonna trade , put or call , until opening of the markets , so you know its all from the current charts and discretion and previous experiences , nothing like written in stone kind of scenario .

markets tell me what to do and when , i just follow , i hope to follow it right

 

[varunkochhar]

It's definitely a fat finger or algo trade problem

Otherwise can you please explain, who and why will someone do buy at those price?

Are you saying that by doing that powerful people /traders, or fii, create charts and then take market at those extremes?

Is that even possible to do?

Princy ji there were 2 caveats in my message, the first was try to read it as only weekend reading and secondly take it with a bucket full of salt (meaning not to take it too seriously).

 

[okabira]

well only banknifty and nifty options

i dont know any average sl , i trade on charts visual sl , if chart sl is way too far ,i decide somewhere in between so that my risk is in control , for example if the previous 1 hour bar is too big for sl , i take sl 50% of that bar , it depends on current setup itself .

i am more of a discretionary trader , and in options i cant have a perfect setup scenario because options are too volatile for that , sometimes , infact most of the time i dont know what i am gonna trade , put or call , until opening of the markets , so you know its all from the current charts and discretion and previous experiences , nothing like written in stone kind of scenario .

markets tell me what to do and when , i just follow , i hope to follow it right

why nifty / banknifty option is preferable over other stock option?
liquidity or lot size ?

 

[princy01]

why nifty / banknifty option is preferable over other stock option?
liquidity or lot size ?

STOCKS ARE TOO MANY

nifty and banknifty is fixed , i dont have to search for it , the trades are always there without any huge research .

we traders want money , its already such a complex profession that we dont want to complex it by unnecessary things

i leave terminal ,when i come next time on it i dont have to waste my time searching for instrument to trade , the only choice i have to make is call or put , also the best liquidity and easy for me to understand

but its me , its my thinking , not to say its the only way but its what floats my boat

 

[okabira]

STOCKS ARE TOO MANY

nifty and banknifty is fixed , i dont have to search for it , the trades are always there without any huge research .

we traders want money , its already such a complex profession that we dont want to complex it by unnecessary things

i leave terminal ,when i come next time on it i dont have to waste my time searching for instrument to trade , the only choice i have to make is call or put , also the best liquidity and easy for me to understand

but its me , its my thinking , not to say its the only way but its what floats my boat

princy ji .. will it be wrong trading option using technical analysis ??
right now i am not interested in carrying option position. .. i want to day trade .. can a option (like BNF 25000CE) be treated as a script/stock ..
trade it .. and close the day with no position ? then fresh start again ?

for calculation of implied volatility , gamma , delta , vega ...i dont have resources
as of now ... so thats why just day trading...

is anything wrong trading like that ?

 

[princy01]

princy ji .. will it be wrong trading option using technical analysis ??
right now i am not interested in carrying option position. .. i want to day trade .. can a option (like BNF 25000CE) be treated as a script/stock ..
trade it .. and close the day with no position ? then fresh start again ?

for calculation of implied volatility , gamma , delta , vega ...i dont have resources
as of now ... so thats why just day trading...

is anything wrong trading like that ?

I have said it earlier, I don't know alpha beta gamma theta, Vega, seeta geeta babita, papeeta of options

I trade on pure charts and nothing else, even positional or intraday, everything on options charts

So if you have it in you, you can trade it whatever the way you want

Nothing wrong in anything, just beware of the risk and manage it well

I repeat beware of the risk, options are the MOST volatile things in trading universe in equity markets, you have to be a master in it to make it large

 

[varunkochhar]

My 2 cents. Try selling options based on PDC of OBV. If the cuurent value is above PDC, try selling ITM puts and if trading below PDC try selling ITM calls. But apart from the usual stops try to keep hard SL (No if no but no revenge trading) above previous days high of that option before 12:00 and above current day's high after 12.

 

[timepass]

My 2 cents. Try selling options based on PDC of OBV. If the cuurent value is above PDC, try selling ITM puts and if trading below PDC try selling ITM calls. But apart from the usual stops try to keep hard SL (No if no but no revenge trading) above previous days high of that option before 12:00 and above current day's high after 12.

PDC of OBV on which time frame ? Daily ?

Also, OBV of which scrip ? The option or the equity value ?

 

[varunkochhar]

No. The lowest 1min. TF. Because OBV is very reactive and best signals are got from lower TF's.

 

[varunkochhar]

And OBV is more or less trending (it gives a very good idea of the direction the market is likely to take)