Weekly Trading Diary : 29 October - 02 November 2018

I think now you are in PROFT as JNDST NOW 166.20 JUST SELL 160PE @ more than 10 for SL PURPOSE. IF YOU TARGET IS DEEP THAN AVG between 13.3 - 15 as Downside is LTD.
IF today get 163 -164 better EXIT.

My target is between 159-161 levels. I have partially exited with profit. Won’t be able to post the screenshot because Zerodha has changed my average price to 172.7 instead of 167.1 and huge profit shown will be incorrect. This happens when I take MIS position.

Tomorrow I’ll able to post numbers using P&L.

I thought AVG is 166.24

Its actually 167.1 because you will notice in my latest screenshot I had added extra lot.

i seriously think you should reconsider your trading style …
trader who average a losing trade wont survive in the long run …

probably you hate to book loss which you need to change …
like you booked tvs when it turned to green but kept averaging jindal …

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This is learning for me and I want to see how it goes. This is the only reason I’m posting here for reference and get some lessons.

I’ve hedged remaining position by selling 160 PE.

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Have you beta hedged?

I’ve sold only 160 PE, that way if eventually position is closed, loss it will be minimised. No call buying.

we can learn only by trading … but reduce your quantity

hedge for a future short is buying a call … selling puts will surely minimize the loss
but short futures + long call can be replaced by buying a put …

Exited remaining position on Jindal in loss. Total loss approx. 50k. Glad I covered half in morning.

Have to move on to look out for next opportunity. I usually take 2-3 opportunities in series.

I have my sights on Nestle for shorting. This time IF done I’ll hedge as well keep 1 or 2 lots max.

Reason to Select NESTLE ?

I don’t do any technical analysis. It’s based on price movement. To me today’s move is more like short covering move, which usually doesn’t last too long and eventually reverts to where it started. Which in case of Nestle I feel could be back to 9820-9920. Tomorrow if I take a trade, will post it here.

FUT data of NESTLE shows long build up and on technical chart is positive momentum.
Also stock is less liquid.

WHAT about RELIANCE good liquid counter. :thinking:

I don’t look at options data, nor technical chart and I completely avoid CNBC :slight_smile: Less liquid sometimes gives you advantage wherein we can place orders at unexpected price and they do get executed.

As for Reliance, I didn’t get any trigger. I get maybe 2-3 opportunities in a series which I go for it. Additionally I keep only 2 stock positions at a time.

My Advice only from my view point not CNBC they simply create Buzz. :wink:

For Reliance its near 1020 good support and Mkt is also positive momentum as its heavy weightage OF INDEX Its easily goes 1150-1180. Hedging give you good return :slight_smile:

Recouped some loss today in Jindal. Tomorrow most likely last day of trading for me, then on Diwali break.

I’ve gone short on Nestle. Will post after I close the position (doesn’t matter profit or loss).

Additionally going long on Hindustan Unilever, expecting some short covering rally today. HOPING :slight_smile: