Trade blog for 31-Aug-2021
My Another Failed Trade in BANKNIFTY(Options)
Details:
Today BANKNIFTY was almost flat. Market was very volatile. Still got some good opportunity but could not convert it to money.
Today I lost another 1000 bucks in trade. It is somewhat tiring but still have to see where I am missing out and others are catching up.
MARKET OVERALL TODAY:
Choosing the money to invest:
Tried to keep it In the money but due to less fund had to go way out of the money so that I can afford the trade.
Second Lot: 4 point profit. BANKNIFTY 36500 CE
Again entered the market with the same CE seeing a rise in the stock, was just a little late entering and had to wait for a very long time to cut this to the chase with some 4 point for brokerage.
Entered at 224 and exit was at 228 after waiting for more than an hour.
Third Lot: 38 point loss. BANKNIFTY 36300 PE
Choosing PE in this market had cost me more than anything. Bought at 221 and exited at 183. This was again entering at the peak of the green candle and exiting after 15 min of not seeing move.
Fourth Lot: 3 point profit. BANKNIFTY 36500 CE
Bought it for 171 and sold it at 174. This was also an hour long wait to get to just 3 point profit. Definitely not a good trade. Was expecting a rise after a very big fall in the price but had to wait for longer than expected. This too is not a good practice as for options buyer we should look for big candles not slow rising and falling candles due to THETA decay.
Fifth Lot: 10 point loss. BANKNIFTY 36300 PE
Bought at 183 as there has been so many rise and I was expecting stock to go down and hit some bottom, but did not get through as the stock was very volatile and it took a lot of time to reach the bottom decaying all the value. This was auto cut by angel.
Trade rules:
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