Trading for Living -- Successfully Completed one year as Full Time Trader

[VJAY]

Thank you Sri Amrutham & Anildnr, for your response. It is worth trying but presently I can only do butterfly on mis basis as carrying over position overnight, I am short of capital. Nonetheless I will try and test my luck.
Many thanks and regards
Govind

Dear govind,
You are doing BF intraday (MIS)basis ?how was its performance in intraday

 

[anildnr]

It seems today we have FED decision tonight. Thats y premiums are high

Any reason why the bn premiums are too high for tomorrow expiry? Any news ? Of course premiums are erasing but still at high price

 

[govindheg]

Dear govind,
You are doing BF intraday (MIS)basis ?how was its performance in intraday

Well, initially got hit badly. Poor risk management.
However, of late, managing to be above water.
I am trying with credit spreads and employing S/L at around Rs.1500 to Rs 2000 depending how far I am from current level. Not great profit but around 10k a week. Lot of earning goes to charges!

Today employed Iron Condor under MIS for the first time and got through with 15 points profit. Had a carried over bull put spread and got around 11 pips. I am able to trade in single lot only.

What about you?

 

[anildnr]

Well, initially got hit badly. Poor risk management.
However, of late, managing to be above water.
I am trying with credit spreads and employing S/L at around Rs.1500 to Rs 2000 depending how far I am from current level. Not great profit but around 10k a week. Lot of earning goes to charges!

Today employed Iron Condor under MIS for the first time and got through with 15 points profit.

What about you?

Great govind ..good to know that you are doing risk management ..its not like small or big..profit is profit thats it..that too when u trade credit spread and iron condor..u know the max loss and take trades as per ur loss taking capacity.

 

[govindheg]

Entered into below BN position for 14th June expiry.

BN Spot @ 26700

Buy BN 26600 CE 200 Qty @ 172
Sell BN 26700 CE 200 Qty @ 122
Sell BN 27000 CE 200 Qty @ 30

Net Debit =4K

This position is safe until BN 27080

Hi, Amrutham,
Just for my understanding:
The closing levels of the above 3 strikes are as under:
BN 26600: 135 (against 172)= (-) 37
BN 26700: 92 (against 122)= +30
BN 27000: 18 (against 30)= +12
—————————Net: +5

I presume you will continue with the position till 3.20 tomorrow. I am curious to know your cover strategy for Buy leg, as I am inclined to try this tomorrow.

 

[VJAY]

Well, initially got hit badly. Poor risk management.
However, of late, managing to be above water.
I am trying with credit spreads and employing S/L at around Rs.1500 to Rs 2000 depending how far I am from current level. Not great profit but around 10k a week. Lot of earning goes to charges!

Today employed Iron Condor under MIS for the first time and got through with 15 points profit. Had a carried over bull put spread and got around 11 pips. I am able to trade in single lot only.

What about you?

Thanks govind sharing your trading style ...am not trading options but too curiously following and learning from you guys ...This thread is giving real trading experience.
Please share more about your trading credit spreads with some example and manage risk .IMO put sl is not possible for options (spreads)...so you exit when combined loss of spread come Rs 1500-2000 ..am right?

 

[govindheg]

Thanks govind sharing your trading style ...am not trading options but too curiously following and learning from you guys ...This thread is giving real trading experience.
Please share more about your trading credit spreads with some example and manage risk .IMO put sl is not possible for options (spreads)...so you exit when combined loss of spread come Rs 1500-2000 ..am right?

True. I don’t have any sophisticated trading tool. As of now manually inputting SLs. Trick lies in watching combined position and net result. As it is simple, I am managing. But if you come to a stage when you have multiple strategies based position, I may have to look for trading tools. Long way to go there!

 

[amrutham]

Well, initially got hit badly. Poor risk management.
However, of late, managing to be above water.
I am trying with credit spreads and employing S/L at around Rs.1500 to Rs 2000 depending how far I am from current level. Not great profit but around 10k a week. Lot of earning goes to charges!

Today employed Iron Condor under MIS for the first time and got through with 15 points profit. Had a carried over bull put spread and got around 11 pips. I am able to trade in single lot only.

What about you?

10K per week is very good. Key is to consistently increase your capital without taking big risks.

 

[amrutham]

Hi, Amrutham,
Just for my understanding:
The closing levels of the above 3 strikes are as under:
BN 26600: 135 (against 172)= (-) 37
BN 26700: 92 (against 122)= +30
BN 27000: 18 (against 30)= +12
—————————Net: +5

I presume you will continue with the position till 3.20 tomorrow. I am curious to know your cover strategy for Buy leg, as I am inclined to try this tomorrow.

If BN trades positive, then I will not do anything until and unless it breaks 27000.

If it trades negative, probably I will move 27000 CE to 26800 CE.

Will keep this position open until at least 2:30 PM.

 

[anildnr]

Selling 26500ce and 26600pe combined premium of 218 is looking attractive both with slm of 140 each