NIFTY ended the month with a bang.
This is one picture which tells us only half the story.
Nifty had closed at 10779.80 on December 27, 2018 ( Expiry). In 25 trading days it has moved up by a mere 51.15 points . But the noise on business channels would lead you to believe as if some all time high has been achieved .
We continue to remain in doldrums.
33 stocks out of 50 in NIFTY ended negative over 30 day period in spite of the 180 point gain today. To me this is a sure sign of continued weakness and the Union Budget tomorrow may do nothing to change this.
Our Trades in January Expiry:
After a flat November and losing December we were looking for some decent gains in January. Thankfully the market obliged. We had a total of 15 traded contracts this month. There were 13 PUTS and 2 CALLS. Out of these 15 trades , 10 proved to be right. This rate of success is very high and should not be expected on a regular basis .
This was the position after closing all the positions .
And there were missed opportunities like ASHOKLEY and MARUTI trades which were not considered.
Well, we can not win them all. We take what the market gives.
The Journey So Far:
Option Buying journey commenced from May 2018 Expiry. We complete 9 months today. This journey into the unknown territory has been a profitable adventure so far with moments of agony and exhilaration strung across the route.
Number of Months —- 9
Losing Months ——— 2
Gaining Months ——– 7
Total Contracts Traded — 126
Wrong Trades ————- 77
Right Trades —————- 49
These trades over 9 months ( less than 1 trade per day ) have resulted into a profit of Rs. 721833.
We shall continue with the same method again.
After all the success in trading comes from belief in your methods, knowing your trades and knowing yourself as a trader.
I thank all the readers for their support at all times.
Keep visiting these pages. Keep trading cautiously and profitably.
All the best.
Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.