Looking for a mentor in option trading

G

gemat

Active Member
#71
#71
mathivanansub said:
Yes it is Lemon. But not wait till expiry, once Nifty moves 300 points one way from your point of entry you take stop loss. And if you have the guts for the next strategy, Nifty has to move another 300 points in the same direction to bring a bulk stop loss. Count for yourself how many times nifty moved 300 and 600 points within a month in the last year. It all depends where you enter, how do you know which is the safe point to enter. I tried it with combination of price Action. But again, if I am able to judge the direction of market why should I use such low performing tools.
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better to exit few days before expiry.
nifty plunged to 6850 from 7900 due to Chinese economy n rising NPAs caused banks to fall in january-february. post budget in march nifty soared 700 points to 7750 which is the highest in 7 years. dont expect an uptrend or downtrend like this in the near term, hoping the markets have settled now. i have paid 5k for his service and strategies. if i am able make profit in the first month itself i will share my views here:thumb:.
 
O

oldtrader

Well-Known Member
#72
#72
The Iron Condor Opened on the eve of RBI event i.e., 04th April 2016 is fetching rs. 264 as of 08th April EOD prices. Lets see how it fares out. With 3 holidays in the next 2 weeks the conditions cannot be more favourable than this. But, would like to remind that the SL of the condor is at 7474 Nifty Spot. Only 84 pts away from the current price.
 
G

gemat

Active Member
#75
#75
:clapping::thumb: old trader there could be a minor reversal next three days. friday's closing above 7550 suggests a small uptrend, back to 7700. stop loss you mentioned in the previous post. thursday and friday holiday. 4 days off. am holding a credit put spread 7500 PE and 7400 PE. when do u intend to close it? 40% of your total credit?
 
L

lemondew

Well-Known Member
#76
#76
Glad to point it out even the tuesday after it is holiday. As per nse site even last friday is holiday gudi padwa. But markets were open surprisingly ???
gemat said:
:clapping::thumb: old trader there could be a minor reversal next three days. friday's closing above 7550 suggests a small uptrend, back to 7700. stop loss you mentioned in the previous post. thursday and friday holiday. 4 days off. am holding a credit put spread 7500 PE and 7400 PE. when do u intend to close it? 40% of your total credit?
Click to expand...
 
O

oldtrader

Well-Known Member
#77
#77
gemat said:
:clapping::thumb: old trader there could be a minor reversal next three days. friday's closing above 7550 suggests a small uptrend, back to 7700. stop loss you mentioned in the previous post. thursday and friday holiday. 4 days off. am holding a credit put spread 7500 PE and 7400 PE. when do u intend to close it? 40% of your total credit?
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As per the strategy , 40% of total credit or SL . SL on the upper side will be 8118 . If we see the recent swings of the Nifty we will notice that the SLs will be taken out much much before the 40% is accumulated. Let us wait and watch.
 
O

oldtrader

Well-Known Member
#79
#79
lemondew said:
Glad to point it out even the tuesday after it is holiday. As per nse site even last friday is holiday gudi padwa. But markets were open surprisingly ???
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14th , 15th and 19th are Trading Holidays. There will be no trading on these days. Last Friday Holiday of Gudi padwa was a CLEARING holiday and not a TRADING holiday. There is a difference, TRADING holiday = NO TRADING and NO SETTLEMENT. CLEARING HOLIDAY = TRADING will be there but no SETTLEMENT. Hope it is clear now.
 
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