I want to grow now... Information needed

#1
Hi guys, I have been trading options for 2 years now, I have been employing condors and spreads in Nifty and making 3-4% per month consistently, I am not an algo guy as I wasn't comfortable with them and it wasn't needed at first place since the strategies I work with. I am not a pro trader and have kept my trading as simple as possible. OI data, support and resistance, VIX and PURE MATHS is the only thing I have followed and I must say it's the only thing I needed, no fancy analysis whatsoever. My success is 80%, I make sure the wrong trades don't hit me hard as I can always compensate losses within few weeks if not days.


Excel sheet for breakevens, constantly editing sheets, tracking Greeks, manual order placing one at a time on my UPSTOX platform, slippage, order execution fear(placing butterfly spread, sometimes it just not getting filled at right price) is making my life quite difficult.

Maybe I am still doing it in old fashion as haven't bothered to look around what's new, I was just use to it.

I saw some people on YouTube placing this kind of strategies with so much ease, ONE click and irons condor strategy placed!! Realtime trade Greeks, realtime credit/debits calculations,I mean I can be so much relaxed. I can just concentrate on trade adjustments.


What I am missing?
 

prabhsingh

Well-Known Member
#2
I would also be interested in condors and spreads.Kindly can you provide resources or help me how should I start.I am not new to trading but not that much familiar with option strategies.
 

pannet1

Well-Known Member
#3
Hi guys, I have been trading options for 2 years now, I have been employing condors and spreads in Nifty and making 3-4% per month consistently, I am not an algo guy as I wasn't comfortable with them and it wasn't needed at first place since the strategies I work with. I am not a pro trader and have kept my trading as simple as possible. OI data, support and resistance, VIX and PURE MATHS is the only thing I have followed and I must say it's the only thing I needed, no fancy analysis whatsoever. My success is 80%, I make sure the wrong trades don't hit me hard as I can always compensate losses within few weeks if not days.


Excel sheet for breakevens, constantly editing sheets, tracking Greeks, manual order placing one at a time on my UPSTOX platform, slippage, order execution fear(placing butterfly spread, sometimes it just not getting filled at right price) is making my life quite difficult.

Maybe I am still doing it in old fashion as haven't bothered to look around what's new, I was just use to it.

I saw some people on YouTube placing this kind of strategies with so much ease, ONE click and irons condor strategy placed!! Realtime trade Greeks, realtime credit/debits calculations,I mean I can be so much relaxed. I can just concentrate on trade adjustments.


What I am missing?
if its not broken why fix it. there could be no end in wanting to be like others. Please post the youtube link it will help us to really know what they are selling :p
 
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checkmate7

Well-Known Member
#4
if its not broken why fix it. there could be no end in wanted to be like others. but posted the youtube link will help, so we really know what they are selling :p
Better if we have excel sheet with logic also :)
 
#5
Thanks pannet1 for ur input, well I said some people ;), I am unable to locate the exact video, I just browsed randomly, might be videos from tastytrade or optionaplha....yup u are right, why fix it if it's not broken but I need to uprage my trading style now as I will be pouring more fund next monthn :)
 
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#6
Prabhsingh m glad u are interested, if your a complete beginners than I would suggest "zerodha varsity" which is the best source to learn options... also Options as a strategic investment is a good book, find the PDF copy on google...there are many strategies and each strategy needs suitable environment to work, u can't just use one in all market conditions.

From my experience I would suggest
1.know your breakevens after placing a trade, Learn to plot breakevens by yourself, learn a bit of Excel if you are new to excel, it's fun believe me....
2. Placing a strategy is easy but how u manage if the trade goes against u is MOST IMPORTANT, so read about trade adjustments, Google it. (Tastytrade is good source here)
3. Learn Greeks ( not the formulas), how they affect option premium.
 
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checkmate7

Well-Known Member
#7
Prabhsingh m glad u are interested, if your a complete beginners than I would suggest "zerodha varsity" which is the best source to learn options... also Options as a strategic investment is a good book, find the PDF copy on google...there are many strategies and each strategy needs suitable environment to work, u can't just use one in all market conditions.

From my experience I would suggest
1.know your breakevens after placing a trade, Learn to plot breakevens by yourself, learn a bit of Excel if you are new to excel, it's fun believe me....
2. Placing a strategy is easy but how u manage if the trade goes against u is MOST IMPORTANT, so read about trade adjustments, Google it. (Tastytrade is good source here)
3. Learn Greeks ( not the formulas), how they affect option premium.
What do you want? Thread title says you need information :)
 

VJAY

Well-Known Member
#9
What do you want? Thread title says you need information :)
He want to an easy way in orderplacing and exits ....:)
I seen many option traders use sharekhans tradetiger which is good for option traders ....there you can see all options greeks etc live
 

pannet1

Well-Known Member
#10
Thanks pannet1 for ur input, well I said some people ;), I am unable to locate the exact video, I just browsed randomly, might be videos from tastytrade or optionaplha....yup u are right, why fix it if it's not broken but I need to uprage my trading style now as I will be pouring more fund next monthn :)
except providing realtime delta, i dont think we have great technology platforms yet.
 

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