Trade blog for 24-Aug-2021

My Third Successful Trade in BANKNIFTY(Options)

Details:

Today BANKNIFTY was bullish except for the last 10 min where it went slightly down. So was everything else in the market, seeing the response from global market.

Today I made my highest profit till day around 2700 bucks. And this also due to some last minute drop, otherwise I would have made somewhere around 4K.

Last day I learned Bollinger Band, Here is a post that I made out of my learning. 

https://tradeblogaks.blogspot.com/2021/08/bollinger-band.html

MARKET OVERALL TODAY:


Choosing the money to invest:

Following the same approach as I think this is working for me. In the money trade.

Today I traded at two different time and BANKNFTY was at different levels so picked three different in the money trade BANKNIFTY 35300 PE, BANKNIFTY 35300 CE  and BANKNIFTY 35500 CE.

First Lot: 2 point loss. BANKNIFTY 35300 PE

I started early today as Market was at a very different level and was increasing every second. Seeing the first fall I started to think this must be the large fall and thought of entering 35300 PE.
Entered my first trade at 09:51 AM at 292 but as soon as I saw that there is not going to be any profit I had to exit at 9:56 AM at 292 taking a loss of 50 buck.

Second Lot: 83 point profit. BANKNIFTY 35200 CE

Seeing the positive trade and prediction form Bollinger I again entered the trade at 09:59 AM at 204 and waited for a good gain till 10:22 AM at 287.

Third Lot: 30 point profit. BANKNIFTY 35500 CE

Seeing the positive trade whole day I was back at 12:56 PM at 303 and waited for a vey long time and eventually I had to get out around 2:30 but due to greed of seeing 4K profit I stayed in and eventually to check at what time angel broker auto cuts the trade it was off at 3:22 PM for 333 making a profit of 750 bucks.



Conclusion:

Even though I did not loose any money in my last trade, I had to get out at the peak of Bollinger band staying at it cost me around an invisible loss of 1300 bucks. Still I am up by 2700, which is again a record.

Learning: 

If everything is working according to your plan, get out of the market as the next thing left to happen is opposite of your plan.

Thanks :)

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