Trade blog for week (6-Sep to 10-Sep)

Failed Trade in BANKNIFTY(Options) Long

Details:

After many failed attempts I though of going long in option seeing some of the options for last week closing at 700 and 600, Maybe I could make money in long term.

Which turned out to be a bad idea. I lost entire capital in this trade. Bought banknifty call of 37300 for 380 and it never went above this the entire week and I did not cut it hoping it will go up some day later.

In the expiry the option came at 10 paisa and 5600 buck capital was entirely lost.

First Stock: HDFC



Bought one stock of HDFC by the remaining capital at 1588. Till the day it is decaying but I am thinking of holding it for long.

Conclusion:

Never go long in option. It decays always. 
Trade using a stop loss order.

Trade rules:

No rules as this was an experiment.

Learning: 

Always plan your trade and then trade your plan. Lusk never works in market.

Thanks :)

Comments

Post a Comment

Popular posts from this blog

Trade blog for 30-Aug-2021

Image
My First Passed Trade in BANKNIFTY(Options) after three consecutive fail. Details: Today BANKNIFTY was too bullish today with some consolidation in between. This was an effect of global market which was bullish on Friday due to Fed news of not increasing lending rates. Today I made my first profit trade after three failed trade. Though I could have made much more money seeing the potential of the market today, I chose to be out of the market after a profit of around 800. Did follow my rule today (of not taking too many trades but still I took 5 trade today and most of it was profitable). I had less capital in my Angel account today so had to choose trades way out of the money. 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. OPTIONS: First Lot: 1 point profit.  BANKNIFTY 35500 PE Bought at 149 and sold at 150 as there was not much rise in this stock and I was already lat
Read more

Trade blog for 25-Aug-2021

Image
My First Failed Trade in BANKNIFTY(Options) Details: Made a lot of mistakes today. Let's point each out: 1. Buying a lot of trade 2. Trying to recover from previous loss 3. Half knowledge full implementation 4. Focusing on a lot of trades After a good opening BANKNIFTY became bearish. I tried applying SRI today but it did not workout for me well and lost around 2400 bucks to the market.  Attaching contract note for reference: Total brokerage alone was 360 bucks and others 200. Total loss was around 3K. :( Choosing the money to invest: Money choosing strategy is still the same. IN THE MONEY. First Lot: 65 point loss.  BANKNIFTY 35900 PE I started early today as Market seems bearish, but It went at a high for a while and I was wrong as this was exact what market wanted me to do, think of it as bearish and invest money. As soon as I was in it started falling. I bought it for 315 and had to exit at 250 Second Lot: 33 point profit.  BANKNIFTY 35900 PE Seeing the bearishness again I ente
Read more