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 :)