Weekly Trading Dairy 12 March To 16 March

Hi

Infact my Target for PNB was 100 Rupees and For BN was a 200 Pts Target based on Trading plan

I got out on PNB at 97 eventhough my system was on track and BN at 24710.

So emotions took over and i saw a unrealised profit of 12,000 extra going away so FOMO kicked in and started revenge trading. Its something i have identified and trying to work on…

I go with what the market offers, rather than having preconceived targets.

2 Likes

agreed. i am experimenting with the trailing stop loss as well as following the trend.

1 Like

important:
kindly,Ignore ioc trade from today swing trade due to EX-bonus in it.

case study of ioc:
TODAY REVIEW:

SWING TRADE 16 FEB,2018

1632018SWING

Hey AmJay…
I’m also trying hard to earn some profits day trading… but don’t think that TA doesn’t work…
Also if you want to day trade as business, read
Al Brooks Price Action Trading Books… Extremely hard to read… but hey, there is no easy money in markets…

open position , but profits come down!!

1 Like

\

Started trading with limited quantities and less targets.
Please let me know some suggestions how to improve the trade.
Many Thanks.

well , my suggestion is , since you are doing well, continue that , to reduce risk

try to trade in NRML ( no leverage)

1 Like

I’ve had a very bad day. Covered my short on Lupin when it shot up when the market opened at a loss and then thought market would offer a support at 10250 but then lost money on the afternoon selloff.

SWING TRADE TODAY FOLLOW UP.


FOLLOW UP

1.All trades of today has opened.

2.LT (9 MAR,2018) has hit stoploss @ entry after hitting TARGET-1 on 13 MAR,2018.

3.M&M (14 MAR,2018) , KOTAKMAHBK (15 MAR,2018) and UPL (5 MAR,2018) have exited with loss by stoploss hit.

4.HINDPETRO (15 MAR,2018) has hit TRAGET-1.

5.AMBUJACEM (16 MAR,2018) has hit TRAGET-1.

6.DR REDDY (16 MAR, 2018) has hit TRAGET-1

Exited the open position with reduced profit, On 14-3-2018 MY assumption was that , HDFC Bank & Reliance will drag down Nifty & Bank Nifty , that happened today .

Here are my today’s trade and positions.

1 Sell #ACC around 1600±6, with SL of 1626.15, target 1582, 1570, 1554 -> 3% profit
All target reached.
2. #Sell #Titan only below 867.85 with SL of 875.5, target 860–. -> 0.61% profit
Target missed by 2.1, tariling SL hit at 763.1.0.
3. #Buy #CIPLA around 572-574, with SL of 567.3, target 578, 581, 587. -> 1% loss
4. a. #Sell #HDFCBank only below 1868 with SL of 1877.65, target 1860, 1854 -> 0.75% profit
All target reached.
You can verify the trade timings and get more such awesome trade setup here

TODAY TRADE 16.03.2018 PROFIT OF RS 8400

I have seen u r consistently earning profit… Can i know how much capital u used for trading…

As risk mangement i wont keep more than 50k in my account…at any time…i will use leverage …right now i have around 43k,

1 Like

Tested Long strangle.

1 Like

https://www.youtube.com/watch?v=mMCcN2IA26E

Could you pl explain:
How does one decide which strike price for CE and PE, say here you selected 25200 CE & 24800 PE.? I mean what is the criteria for selecting which strike price.
thanks

I think it is 24100 CE not 24200ce.

That strategy name is long strangle. Use this strategy if you expect huge movement in banknifty in any one side within a short time or if you have many days for expiry.

I think spot was between 24900 and 25000 when I purchased. Logic is simple, choose strikes that are equal distance from the spot.

As banknifty expiry date is less than one week, do not choose far OTM options. You will lose entire money if the strikes are OTM.

I choose the nearest one 100 points from the strike.

Things to check:

  1. Ensure strikes are close to spot
  2. Total cost of call option and put option should be close to 200
  3. 300 points movement expected from current spot in short time or before expiry

If above conditions are not met, long strangle may not be a good choice and it will end up in loss.

Most of the times I use bull call spread strategy for bullish trend and bear put strategy for bearish trend. Max profit and loss are limited. Profit less than 60 points per lot and loss less than 40 points per lot if you choose at the money strike. If you choose OTM options, profit can be less than 80 points per lot and loss can be less than 20 points per lot i.e.2400 max profit or 1600 max loss in ATM options and 3200 max profit or 800 max loss for slightly OTM options.

1 Like