Nifty Intraday Pivot Points
- Thread starter SavantGarde
- Start date
- Status
Hi Padhugvn,
As I Have Mentioned Before Options....Is An Entirely Different Kind Of Beast For......
You Panicked & Sold Your CALL Early.
No Picking Up Anything....
Except For Monday On Slight Dip....Pickup 4500 August CALL
Happy & Safer Trading
SavantGarde
As I Have Mentioned Before Options....Is An Entirely Different Kind Of Beast For......
You Panicked & Sold Your CALL Early.
No Picking Up Anything....
Except For Monday On Slight Dip....Pickup 4500 August CALL
Happy & Safer Trading
SavantGarde
hi savantji,
as u mention short term is up it is good to buy 4700 call sep on Monday
any suggestion ji,,
small reminder about option write up!!!
as u mention short term is up it is good to buy 4700 call sep on Monday
any suggestion ji,,
small reminder about option write up!!!
Padhugvn,
Even from the other thread, I do see your eagerness to learn about options but please do not think that the fast kind of money making is easy. Remember that the options sellers are the big boys who will confuse you to ensure your stop losses get hit - even "mental" stop losses.
Whenever Savant writes up on options, please understand the strategy properly and trade it with smaller lots till you get comfortable with it. I would not recommend paper trading too much if the amount is small because the emotions you go through when your money is at risk is different from a paper trade.
And till that time, do look at in the money or at the money options rather than the "cheaper" out of money options.
Get comfortable with looking at the options data on nse site to know which are the liquid calls/puts on that day and at what strike prices the call and put writing is happening as indicated by open interests. This will give you some comfort that you are near some support levels and you can expect support. This will ensure that you do not panic too quickly.
This is not to discourage you in any fashion but just reflections from someone who has paid the tuitions fees to the market to learn these things
I still make mistakes but new ones now ...
Regards,
Enygma.
Even from the other thread, I do see your eagerness to learn about options but please do not think that the fast kind of money making is easy. Remember that the options sellers are the big boys who will confuse you to ensure your stop losses get hit - even "mental" stop losses.
Whenever Savant writes up on options, please understand the strategy properly and trade it with smaller lots till you get comfortable with it. I would not recommend paper trading too much if the amount is small because the emotions you go through when your money is at risk is different from a paper trade.
And till that time, do look at in the money or at the money options rather than the "cheaper" out of money options.
Get comfortable with looking at the options data on nse site to know which are the liquid calls/puts on that day and at what strike prices the call and put writing is happening as indicated by open interests. This will give you some comfort that you are near some support levels and you can expect support. This will ensure that you do not panic too quickly.
This is not to discourage you in any fashion but just reflections from someone who has paid the tuitions fees to the market to learn these things
I still make mistakes but new ones now ...
Regards,
Enygma.
Hi savantji,,
i understand i couldn't control my emotions .. i know i have to do tat one .
here after wards i will do it properly as per your advice and my risk level.
once i picked tat call give me some initial stoploss and i will update my status daily eod and give me new trailing stoploss like tat i can improve my knowledge and protect my capital too.
is it ok ji.
i will play 1 lot only.
i understand i couldn't control my emotions .. i know i have to do tat one .
here after wards i will do it properly as per your advice and my risk level.
once i picked tat call give me some initial stoploss and i will update my status daily eod and give me new trailing stoploss like tat i can improve my knowledge and protect my capital too.
is it ok ji.
i will play 1 lot only.
I just started trading in options, is it good averaging the premiums as like in stocks when the price go down? like this...
I bought 1 lot of Nifty 4700 CALL @ 26 couple of days back, then price gone down as nifty slips.
Bought another lot @ 16, now the average is @ 21
on Friday, Bought another 2 lots @ 6, now the average is @ 13.50 (now in Total 4 lots)
on Friday close Nifty 4700 CALL ends @ 14.85, now it has to go beyond 17 to breakeven for investment+brokerage (Sharekhan Rs.70/Lot)
Is this kind of average trading is worth in Options?
I bought 1 lot of Nifty 4700 CALL @ 26 couple of days back, then price gone down as nifty slips.
Bought another lot @ 16, now the average is @ 21
on Friday, Bought another 2 lots @ 6, now the average is @ 13.50 (now in Total 4 lots)
on Friday close Nifty 4700 CALL ends @ 14.85, now it has to go beyond 17 to breakeven for investment+brokerage (Sharekhan Rs.70/Lot)
Is this kind of average trading is worth in Options?
Hi Spiritunit,
Classic Trading Psychology At Play.....Therefore, Please Understand You Need A Major Overhaul....If You Want To Stay In The Market Beyond One Month....My Guess....At The Rate You Did Your Trades....
Now That I Have Managed To Scare You Enough...Let Me Come To Some...Gentle Persuasion & Analysis...
a) First You Need Enough Knowledge & Perspective If The NF Was Going To Be Anywhere Close To 4700 At Expiry....If Your Answer Is No....Then You Shouldn't Have Bought The 4700 Stike In The First Place....Just Because The Premium...Was Low...Never Never Go For A Strike...Based On Cheapest Premium....Perhaps The Quickest Way To Loose Your Clothes & Whatever You Have Underneath....
b) If I Was In Your Trading Shoes...I Would Have SOLD The 4700 CALL (Meaning SHORT) & Bought 4400 CALL (LONG)
c) Never Average Same Strike Price CALL If It Moves Against You...Unless & Until You Have Reasonably Good Judgement Of The Market Movement Or Range....If You Have The Necessary Skill...Then One May Average For Intraday ONLY...That Is If You Can EXIT Profitably Towards The End Of The Day Or Next Day Maximum....Leeway
d) If Market Gaps Up Square Off 2 Lots At Gap Up...If Premium Is In The Range Of 23-30
e) Then Wait...For The Second Half Session...If It Looks Weak...Then Square Off 1 Lot Towards...The End...Or If It Looks Like Market Is Going To Close At Days High (Very Important)...Then Hold Both The Lots For Tuesday.
Happy & Safer Trading
SavantGarde
Classic Trading Psychology At Play.....Therefore, Please Understand You Need A Major Overhaul....If You Want To Stay In The Market Beyond One Month....My Guess....At The Rate You Did Your Trades....
Now That I Have Managed To Scare You Enough...Let Me Come To Some...Gentle Persuasion & Analysis...
a) First You Need Enough Knowledge & Perspective If The NF Was Going To Be Anywhere Close To 4700 At Expiry....If Your Answer Is No....Then You Shouldn't Have Bought The 4700 Stike In The First Place....Just Because The Premium...Was Low...Never Never Go For A Strike...Based On Cheapest Premium....Perhaps The Quickest Way To Loose Your Clothes & Whatever You Have Underneath....
b) If I Was In Your Trading Shoes...I Would Have SOLD The 4700 CALL (Meaning SHORT) & Bought 4400 CALL (LONG)
c) Never Average Same Strike Price CALL If It Moves Against You...Unless & Until You Have Reasonably Good Judgement Of The Market Movement Or Range....If You Have The Necessary Skill...Then One May Average For Intraday ONLY...That Is If You Can EXIT Profitably Towards The End Of The Day Or Next Day Maximum....Leeway
d) If Market Gaps Up Square Off 2 Lots At Gap Up...If Premium Is In The Range Of 23-30
e) Then Wait...For The Second Half Session...If It Looks Weak...Then Square Off 1 Lot Towards...The End...Or If It Looks Like Market Is Going To Close At Days High (Very Important)...Then Hold Both The Lots For Tuesday.
Happy & Safer Trading
SavantGarde
Last edited:
Savantji,
As you said, I just bought the 4700 Call just because of low premium and also when I bought (@ 26) that lot the day was bullish in the market and expected to move on next day, unfortunately market reversed and keep me in loss.
But on friday, the market ended in positive, So I expected on Monday the market will open in positive, so that I average the premium price to the closest with the CMP on friday (now my avg. price is @ 13.50 and 4700 CMP is @ 14.85) so that if it goes bullish atleast one session on monday morning, it will easily pass my price and can book in profit. This is what I thought.
Your reply is simply great, as I am newbie, I did mistake to go long on 4700 in this time frame and wrongly keep on averaging that makes more loss if it goes @ 0 price, lesson learned.
- Jai 'Ho'
As you said, I just bought the 4700 Call just because of low premium and also when I bought (@ 26) that lot the day was bullish in the market and expected to move on next day, unfortunately market reversed and keep me in loss.
But on friday, the market ended in positive, So I expected on Monday the market will open in positive, so that I average the premium price to the closest with the CMP on friday (now my avg. price is @ 13.50 and 4700 CMP is @ 14.85) so that if it goes bullish atleast one session on monday morning, it will easily pass my price and can book in profit. This is what I thought.
Your reply is simply great, as I am newbie, I did mistake to go long on 4700 in this time frame and wrongly keep on averaging that makes more loss if it goes @ 0 price, lesson learned.
- Jai 'Ho'
Hi Sir,
I am following ur views n updates from th past few months and found extremly gud and helpful.
I need your advice for the below trade.
I was holding 4500/4600 nifty aug calls till friday morning but took chance of catching same calls at lower levels, so sold these positions at small loss and bought 4200 (@ 11.5)/4400 (@60) aug pe and thought of squaring off put options at nifty lower levels and rebuy those call options at cheaper rate. But after that nifty went up and dint get the chance of squaring off puts. Now I am in huge loss due to buying of these put options. Wat u recommend to safeguard my invested amount in puts.
I am luking fwd for ur advice. Please help.
Thanks in Advance...
I am following ur views n updates from th past few months and found extremly gud and helpful.
I need your advice for the below trade.
I was holding 4500/4600 nifty aug calls till friday morning but took chance of catching same calls at lower levels, so sold these positions at small loss and bought 4200 (@ 11.5)/4400 (@60) aug pe and thought of squaring off put options at nifty lower levels and rebuy those call options at cheaper rate. But after that nifty went up and dint get the chance of squaring off puts. Now I am in huge loss due to buying of these put options. Wat u recommend to safeguard my invested amount in puts.
I am luking fwd for ur advice. Please help.
Thanks in Advance...
Padhugvn,
Even from the other thread, I do see your eagerness to learn about options but please do not think that the fast kind of money making is easy. Remember that the options sellers are the big boys who will confuse you to ensure your stop losses get hit - even "mental" stop losses.
Whenever Savant writes up on options, please understand the strategy properly and trade it with smaller lots till you get comfortable with it. I would not recommend paper trading too much if the amount is small because the emotions you go through when your money is at risk is different from a paper trade.
And till that time, do look at in the money or at the money options rather than the "cheaper" out of money options.
Get comfortable with looking at the options data on nse site to know which are the liquid calls/puts on that day and at what strike prices the call and put writing is happening as indicated by open interests. This will give you some comfort that you are near some support levels and you can expect support. This will ensure that you do not panic too quickly.
This is not to discourage you in any fashion but just reflections from someone who has paid the tuitions fees to the market to learn these things
I still make mistakes but new ones now ...
Regards,
Enygma.
Even from the other thread, I do see your eagerness to learn about options but please do not think that the fast kind of money making is easy. Remember that the options sellers are the big boys who will confuse you to ensure your stop losses get hit - even "mental" stop losses.
Whenever Savant writes up on options, please understand the strategy properly and trade it with smaller lots till you get comfortable with it. I would not recommend paper trading too much if the amount is small because the emotions you go through when your money is at risk is different from a paper trade.
And till that time, do look at in the money or at the money options rather than the "cheaper" out of money options.
Get comfortable with looking at the options data on nse site to know which are the liquid calls/puts on that day and at what strike prices the call and put writing is happening as indicated by open interests. This will give you some comfort that you are near some support levels and you can expect support. This will ensure that you do not panic too quickly.
This is not to discourage you in any fashion but just reflections from someone who has paid the tuitions fees to the market to learn these things
I still make mistakes but new ones now ...
Regards,
Enygma.
hmm thanks ya for making me to realize my mistakes thanks for u and savantji.i hope u ppl will guide me how to trade in options in future.
i keep those points in my mind and trade accordingly.
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