Stocks To Keep A Close Eye On
- Thread starter SavantGarde
- Start date
- Tags afl amibroker
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Savant Ji, & Mr. E,
I had the best day as far as intra day trading is concerned. Went long in the morning on Mcleod, Jaysree tea and Jindal Saw and they gave quite handsome returns.
Options also gave me good enough returns but I am feeling slightly apprehensive about the way I am playing options. So would like you to help me with suggestions.
Like, today I wrote 4700 CE at 222 shortly after market started with a bang. I did not think it would sustain. Later on I covered it at 190 and again went long on it and squared at 210.
When Savant ji, told about keeping an eye on 4900 CE, I shorted it and covered around 70 and consequently went long and again squared at 86.
I was doing this short and long thing based on Nifty movement as far as I was able to read it. But do you think this cycle of long and short should be maintained? One obvious downside is brokerage cost but apart from that Should I fine tune it in some other way or leave it as it is? Yes, this is working for me since 2-3 days but that could be just beginner's luck or basically I am just not sure about how it should go....
It would be really great if you could analyse this and comment accordingly.
Regards,
I had the best day as far as intra day trading is concerned. Went long in the morning on Mcleod, Jaysree tea and Jindal Saw and they gave quite handsome returns.
Options also gave me good enough returns but I am feeling slightly apprehensive about the way I am playing options. So would like you to help me with suggestions.
Like, today I wrote 4700 CE at 222 shortly after market started with a bang. I did not think it would sustain. Later on I covered it at 190 and again went long on it and squared at 210.
When Savant ji, told about keeping an eye on 4900 CE, I shorted it and covered around 70 and consequently went long and again squared at 86.
I was doing this short and long thing based on Nifty movement as far as I was able to read it. But do you think this cycle of long and short should be maintained? One obvious downside is brokerage cost but apart from that Should I fine tune it in some other way or leave it as it is? Yes, this is working for me since 2-3 days but that could be just beginner's luck or basically I am just not sure about how it should go....
It would be really great if you could analyse this and comment accordingly.
Regards,
Update for the day,
Dow Jones showing strength in the early trade on a better than expected weekly jobless claims:clap:.....
http://www.bloomberg.com/apps/news?pid=20601068&sid=ag9R1aoTYI_o
happy trading:clap:
Dow Jones showing strength in the early trade on a better than expected weekly jobless claims:clap:.....
http://www.bloomberg.com/apps/news?pid=20601068&sid=ag9R1aoTYI_o
happy trading:clap:
Hi Talisman,
I Am Happy That You Have Been Trading Confidently & Making Good Profit In The Process.
Now Coming To Your Apprehensions
It Was A Perfect Day For Playing Long & Short.
What Trading Long & Short Does Is Creates A Balance Of Thought Process For Both Long & Short (Detachment Of Emotional Quotient)....& This Is Extremely Important For A Complete Trader Who Can Trade Long & Short With Equal Ease....So Thats A Plus For You.
Also, It Will Sharpen Your Judgement Of The Movement...& As You Keep Doing It...You Will Develop The Ability Of Quantum Of The Movement.
Moreover, I Hope To See This Ability Further Sharpened, Through Your Future Trades....Whether You Can Sense & Able To Play The Market Just Long Or Short & Also If You Can Control...& Not Trade...
As You Become More Adept & Comfortable....I Am Sure You Will Manage To Squeeze More Out Of Your Positions...
Happy & Safer Trading
SavantGarde
I Am Happy That You Have Been Trading Confidently & Making Good Profit In The Process.
Now Coming To Your Apprehensions
It Was A Perfect Day For Playing Long & Short.
What Trading Long & Short Does Is Creates A Balance Of Thought Process For Both Long & Short (Detachment Of Emotional Quotient)....& This Is Extremely Important For A Complete Trader Who Can Trade Long & Short With Equal Ease....So Thats A Plus For You.
Also, It Will Sharpen Your Judgement Of The Movement...& As You Keep Doing It...You Will Develop The Ability Of Quantum Of The Movement.
Moreover, I Hope To See This Ability Further Sharpened, Through Your Future Trades....Whether You Can Sense & Able To Play The Market Just Long Or Short & Also If You Can Control...& Not Trade...
As You Become More Adept & Comfortable....I Am Sure You Will Manage To Squeeze More Out Of Your Positions...
Happy & Safer Trading
SavantGarde
As long as you are bringing profits home, you are doing great !! Over a period of time, you will get comfortable with these intraday movements and trades. Am not a great fan of intraday trade in stocks but I would like to add a few points for nifty option trades
- Use intraday trades to maximize profits on your positional trades. Always have a positional trade in the direction of the current positional move so that you do not get completely wrong footed.
- If you are taking a trade only for intraday, keep a stop loss (like a Nifty level) and even if your target profit is not reached, evaluate whether you need to carry the position overnight or you are better off squaring off.
- Writing calls blocks up margins. You can also buy PEs to get the same effect.
- Evaluate how much brokerage you are paying. If you think you are paying too much, think about moving to a cheaper option but profits minus brokerage is still profits ....
- Trade intraday only when you sense an opportunity. For example, yesterday was such a narrow range that I did not feel the need to do any trades. My positional longs were already in place. Today was different and as you correctly pointed out, there were enough opportunity to play both sides.
Regards,
Enygma.
- Use intraday trades to maximize profits on your positional trades. Always have a positional trade in the direction of the current positional move so that you do not get completely wrong footed.
- If you are taking a trade only for intraday, keep a stop loss (like a Nifty level) and even if your target profit is not reached, evaluate whether you need to carry the position overnight or you are better off squaring off.
- Writing calls blocks up margins. You can also buy PEs to get the same effect.
- Evaluate how much brokerage you are paying. If you think you are paying too much, think about moving to a cheaper option but profits minus brokerage is still profits ....
- Trade intraday only when you sense an opportunity. For example, yesterday was such a narrow range that I did not feel the need to do any trades. My positional longs were already in place. Today was different and as you correctly pointed out, there were enough opportunity to play both sides.
Regards,
Enygma.
Savant Ji,
Like always...Thanks for your input....
'Emotional detachment'..umm..that makes so much sense...I mean..Yes, I used to have this affinity for certain stocks...but did not actually realize when I moved out of that feel...It really makes sense...I understood your 'control' statement...Guess, that thing is going to come with practice...
* Waise..I still have a biased view about one stock..Everonn..Dont know why
...I dont trade in it but I just don't let it go from my portfolio...
Slightly, Off-topic..You are so Eloquent with your language...By profession, I am a freelance writer..but looking at the way you convey things..I think, You have an alternate career waiting for you..
Thanks again..
Like always...Thanks for your input....
'Emotional detachment'..umm..that makes so much sense...I mean..Yes, I used to have this affinity for certain stocks...but did not actually realize when I moved out of that feel...It really makes sense...I understood your 'control' statement...Guess, that thing is going to come with practice...
* Waise..I still have a biased view about one stock..Everonn..Dont know why
...I dont trade in it but I just don't let it go from my portfolio...Slightly, Off-topic..You are so Eloquent with your language...By profession, I am a freelance writer..but looking at the way you convey things..I think, You have an alternate career waiting for you..
Thanks again..
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