Option Buy Recomendations

[ghosh_ak34]

Which is the best site to check for volumes/trends/contracts etc. during market hours.?

Dear Friend,

Your broker could give you a code / trading s/w which will be of help. talk to your broker. Otherwise you can also try http://in.finance.yahoo.com, sites by Bonanza :

http://contentlinks.asiancerc.com/Bestbull/derivatives.asp
Above will display the contracts and volume but its normally shows price with a delay of 30 minutes.

You need to create a portfolio in http://in.finance.yahoo.com. You can see day graphs as well. For example track Nifty trend during day time using graph.

Regards

 

[earthling]

Dear Friend,

Your broker could give you a code / trading s/w which will be of help. talk to your broker. Otherwise you can also try http://in.finance.yahoo.com, sites by Bonanza :

http://contentlinks.asiancerc.com/Bestbull/derivatives.asp
Above will display the contracts and volume but its normally shows price with a delay of 30 minutes.

You need to create a portfolio in http://in.finance.yahoo.com. You can see day graphs as well. For example track Nifty trend during day time using graph.

Regards

Thanks a lot for the prompt reply.
I shall definitely try these tomorrow itself, and will get back to you on this.

Best Regards

 

[ghosh_ak34]

Hello

Can you please advise me what striike price is the best. I am new to options trading. I tend to buy the highest one available (because it is the most reasonable and when the spot price reaches the strike price you make money). Am I wrong? Please help.

Dear Friend,

Being new to options, I prefer refer 888options.com. Its a good learning site. I hope this helps.

Regards

 

[beginner_av]

your your sl may be hit due to vol squeeze without any major movement in the underlying. this incidentally is a great buying point, when you are thinking of squaring off.

please sir, can you explain to us the basis of your recommendations?

 

[sushil00033]

can i square NIFTY call option before expiry

 

[ghosh_ak34]

your your sl may be hit due to vol squeeze without any major movement in the underlying. this incidentally is a great buying point, when you are thinking of squaring off.

please sir, can you explain to us the basis of your recommendations?

Dear Friend,

Its true that if volume squeezes the option will become cheaper. If volume is shrinking it means there seems a reversal trend, so buying will not be recommended. There are two ways to reco. SL

One is using PSAR using a one year graph. If PSAR from lower hits the candle it means exit long position. If PSAR hits the candle from top it means exit shorts.

Second is using your own SL and target. have SL at 2% and profit at 5%.

I have used the combinations of both this time because I found market volatile at the time of recos. If next day you see volume / contracts sinking, and under lying is moving in reverse direction then, do not enter the position.
Regards

 

[ghosh_ak34]

can i square NIFTY call option before expiry

--Yes, you can square off any options before expiry.

Regards

 

[ghosh_ak34]

Dear Friends,

Buy Nifty 5700 PUT currently at 75. Nifty seems going down. Target 120.

Regards

 

[tulika]

hello Mr. Ghosh
thanks fr starting this thread.. i am an option trader.. with knowledge gathered to best of my capacity but with little experience... i am looking for guidance from experience option traders.. i cud not find any... now my search ends.. thanks
tulika

 

[ghosh_ak34]

Thanks Tulika for all your encouragements. In India we hardly get any help in options trading, therefore we all need to help each other to learn and share our experiences. We learn daily in real sense.

I will keep giving my recos. Would suggest to do paper trading first with my recos for atleast 3 months. Yes, never forget to document your mistakes. I document my mistakes every week.

Would like to share this with all traders. We need to come up with a system and test the system for 3 months. Keep reviewing your system and do logical changes to it. Test the same again. Always keep emotions at bay while trading, just follow the system that you might have laid down.
We need to disipline ourselves. Once we find that our system has started giving profits, we need to just follow it, how much boring it may it be to follow it. After all one should remain with the winning team(system).

Will keep sharing more. Thanks Friends!

Regards