Panda among bears and bulls

[terminator_123]

Am uploading my trades till now and my observations on the same.

good work buddy

 

[manoranjan panda]

Panda move number Eight
Buy Nifty PE 2600 Nov @154.7 Time:10:15, 20-11-08, 3 lots
Breakeven, including brokerage is at 159.2.
-Panda
Comments: It was a bad entry-fell victim to greed. Was observing t at 145-146, i suddenly shot up and then I purchased it. Irrespective of the end result, I will count this as a bad move.

 

[pokrate]

Too much day trading in options will ruin your life.

 

[manoranjan panda]

Panda move number Eight
Sold Nifty PE 2600 Nov @159.70 Time:1137, 20-11-08, 3 Lots
Expected Profit (including brokerage)= Rupees 375
-Panda

 

[terminator_123]

Too much day trading in options will ruin your life.

In general (I'm a complete newbie) how many trades per day does a professional trader enter into ? I guess days like today might be avoided because the pre-market news(down down) already made up the market..

 

[manoranjan panda]

Panda move number Nine
Buy Nifty PE 2700 Nov @129 Time:12:08, 21-11-08, 3 lots
Breakeven, including brokerage is at 133.5.
-Panda

 

[manoranjan panda]

Panda move number Nine
Sold Nifty PE 2700 Nov @149.50 Time:1258, 21-11-08, 3 Lots
Expected Profit (including brokerage)= Rupees 2700
-Panda

 

[manoranjan panda]

Panda move number Ten
Buy Nifty PE 2700 Nov @180 Time:13:57, 21-11-08, 3 lots
Breakeven, including brokerage is at 184.5.
-Panda

 

[manoranjan panda]

Mistake in Trade number Ten:
Nifty was coming close to yesterday's low after having risen 3.5% plus, forming a beautiful U shape.
Once the U was complete, when Nifty reached yesterday's low, it would have jumped up, in all likelihood.
Despite knowing this, I did not square off the position when Nifty touched yesterday's low.
Panda

 

[andygp]

Hello Pandaji,
You seem to be exceedingly good at judging the direction of the market. You must have had 60-70% profit over last 3-4 days. Great job and all the best.

A suggestion (you may choose to ignore since I am certainly not as successful intraday option trader as you are): Starting next week you may want to use December expiry options for day trading. Time Decay for Nov options will hurt you a lot since you have long only positions.