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Options trading experience ~ Welgro

 
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Author Options trading experience ~ Welgro
welgro
Brown Belt
Brown Belt


Joined: 24 Sep 2012
Posts: 1773

Post: #1   PostPosted: Fri Sep 26, 2014 7:58 pm    Post subject: Options trading experience ~ Welgro Reply with quote

Dear friends,
I am planning to discuss my intraday option trading experience. I believe my experience will help for options trading beginners. As well as I will get more knowledge when Options experts under line my trading mistakes .It will be fine-tune my trading confidence. I want healthy discussion as well as practical solutions for my trading mistakes.

I have two trading account with different brokers.
In one account I will manage my positional trading (NSE future, option and MCX)
Another one account opened only for intraday options trading. [It will help me for money management]

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~`

My Basic Rules:-
Identifying trend in Higher Time frame (EOD and Hourly)
Took trades with breakout (Finding price action breakouts in options chart)
Max risk per trade is below Rs.2000.
Max risk per day: Rs.5000 then sit quite for the day.
(Currently I am trade with default qty, after some days I will modify this rule)
Strike price should be most active.
I have applied my stop loss order when I took the positions.
I will Book 50% qty when covering the initial risk, remaining TSL with hold position till 3.15PM.
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welgro
Brown Belt
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Joined: 24 Sep 2012
Posts: 1773

Post: #2   PostPosted: Fri Sep 26, 2014 8:02 pm    Post subject: Reply with quote

Today’s my trading experience in Intraday Options.[ Date : 26/09/2014]

As per Raj option theory whole day OI data in bullish Mode.

First trade:-

Yesterday I am expected Bank nifty future strong resistance at 15600 levels. Today morning bank nifty future took resistance at the same level. So I have concentrated bank nifty put option (Strike: BANKNIFTY14OCT14800PE).

Took long position at Rs.135.00 placed stop loss at 119.00 (Breakout candle low + Round no). Placed 1 lot sell order at 151.00 (BEP) and booked profit, It’s really good trade Option Made high 184.30.Finally closed balance 1 lot position at Rs.154.00 [TSL].

Second trade:-

Nifty breach day low around 12.00PM, so I have concentrated Nifty put option (Strike: NIFTY14OCT7900PE)

Took long position at Rs.115.00 placed stop loss at 100.00 (Breakout candle low + Round no). Placed 1 lot sell order at 131.00 (BEP) and booked profit, It’s really good trade Option Made high 138.65.Finally closed balance 1 lot position at Rs.102.00 [TSL].

Third trade:-

Banknifty breach the day low but fail to hold the level. So I have concentrated bank nifty call option (Strike: BANKNIFTY14OCT15800CE).

Took long position at Rs.209 Placed stop loss at 179.00 (Breakout candle low + Round no). Placed 1 lot sell order at 239.00 (BEP). (Planed balance 1 lot book profit at 3.15PM), But this position hit my stoploss.

Shit … after hit the stoploss BANKNIFTY14OCT15800CE made high 305.00 (3.15 PM close – Rs.287.00)

Fourth trade:-

Already I has updated when banknifty if hold above 15600 expected “bear trap” Target 16500.
So I took BANKNIFTY14OCT16000CE 1 lot at 186.00 and I carry the position. (I will took some more lots on Monday, because I need bear trap confirmation candle)



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OCT 2014 contract - Options Trading.xlsx
 Description:
trading excel

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 Filename:  OCT 2014 contract - Options Trading.xlsx
 Filesize:  11.18 KB
 Downloaded:  438 Time(s)

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ninjadude
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Joined: 29 Jan 2013
Posts: 128

Post: #3   PostPosted: Fri Sep 26, 2014 10:30 pm    Post subject: Reply with quote

HI welgro any reason why u have stopped stock futures spread trades EXPERIMENTS in yr earlier thread Surprised
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welgro
Brown Belt
Brown Belt


Joined: 24 Sep 2012
Posts: 1773

Post: #4   PostPosted: Fri Sep 26, 2014 10:47 pm    Post subject: Reply with quote

ninjadude wrote:
HI welgro any reason why u have stopped stock futures spread trades EXPERIMENTS in yr earlier thread Surprised


Some modifications going on in my pair trading calculation excel... May be i will finish that work in this weekend..
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girishhu1
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Joined: 17 Aug 2009
Posts: 316

Post: #5   PostPosted: Sat Sep 27, 2014 8:27 pm    Post subject: Reply with quote

hi welgro,
which charts r used for options trading?
btw many many thanks for sharing a lot of useful info thro various threads
regards
girish
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welgro
Brown Belt
Brown Belt


Joined: 24 Sep 2012
Posts: 1773

Post: #6   PostPosted: Sun Sep 28, 2014 7:29 am    Post subject: Reply with quote

girishhu1 wrote:
hi welgro,
which charts r used for options trading?
btw many many thanks for sharing a lot of useful info thro various threads
regards
girish


Real-time, Streaming Intraday charts for All NSE Futures, Nifty Index Options, BankNifty Index Options will be available for charting. Charts are automatically refreshed every 3 seconds with data. The main charting tool for this service is JCharts(Premium).
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welgro
Brown Belt
Brown Belt


Joined: 24 Sep 2012
Posts: 1773

Post: #7   PostPosted: Tue Sep 30, 2014 7:10 am    Post subject: Reply with quote

Yesterday morning i am exited BANKNIFTY30OCT16000CE (Open Position) at 197.65,Due to Banknifty Future Open and High both are same.

yesterday whole day market is in Range bound.so i have wait for breakout.

Around 3.00 PM nifty future chart gave the negative breakout.

So i took the NIFTY30OCT7900PE 1 lot at 87.45 and BANKNIFTY30OCT15200PE 1 lot at 204.95. as well as i placed stoploss at 70.80.Unfortunately hit the stoploss.

Now i am holding 1 lot BANKNIFTY30OCT15200PE(Open position).



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OCT 2014 contract - Options Trading.xlsx
 Description:
OCT Options trade

Download
 Filename:  OCT 2014 contract - Options Trading.xlsx
 Filesize:  11.4 KB
 Downloaded:  404 Time(s)

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