I want to grow now... Information needed

pannet1

Well-Known Member
#11
z ... has an application for option to show the probability of a strategy to win or something like that, but we need to tell what is our view like where the underlying will be by the end of this month or something like that.

the pairs Black–Scholes whose model NSE is following .... did very poorly in the stock market and went broke (if am not mistaken). So what makes you a winner is something different from Greeks and Technology. This is not a pessimistic view at all. Just requesting you to do the transition carefully.
 
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#12
Thanks for your concern pannet1, well let mesee, Between today I called the upstox customer care and they had no clue what am talking about...need to open an account with Sharekhan just to use their software :)
 

prabhsingh

Well-Known Member
#13
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.
Thanks for this but I am not a beginner.I am good at technical analysis and making positions in cash market.I am aware of Greeks but not clear on IV and IVP and IVRank.Do you make use of Volatility as well and can you help as how to use it for taking benefits.
 

SarangSood

Well-Known Member
#14
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?
Hey @Vijay1.... I'm an active options trader since last 12 years (before that i used to trade in stocks) and i trade in all kinds of strategies (strangle, spreads, condor, butterfly, synthetic etc). Primarily my strategies are about option writing but i keep on switching them according to the market volatility.

I trade with an operator since the inception of my trading career. He is trained in nse NEAT software and by having him I'm able to focus on the strategies and not on there execution part. it can be a good option for you if you are an active trader.

I basically follow greeks for my delta which my operator has strict instructions to monitor at roughly 30 seconds. Since my position can be as large as 500 short strangle lots i need to neutral my delta as well as gamma in every bnf move so the operator's eye is always on the screen.
 

kingkrunal

Well-Known Member
#15
The execution you are talking about is from tasty trade videos..

Those software are Available with US brokers .. and not yet in India.. but yes may be few years down the line :)
 

TradeOptions

Well-Known Member
#16
#18
Thanks for your concern pannet1, well let mesee, Between today I called the upstox customer care and they had no clue what am talking about...need to open an account with Sharekhan just to use their software :)
Hi Vijay! We'd be happy to guide you. Request you to share your contact number and city here so that we can connect with you. You can also fill in your details here - https://goo.gl/7c3QZN
 

anildnr

Well-Known Member
#19
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?
Hi Vijay, Nice to see you are earning consistently with options. I feel till the time you are comfortable with ur style of trading with awesome 3-4% per month it is really good instead of watching many videos and getting confused.

Generally i check my breakevens of my options in http://opstra.definedge.com/strategy-builder.

Did you designed any excel with formulas. If yes then ok, Otherwise you can have a look on it.
I agree with your fear on Order Placing one at a time. In some brokerages like Sharekhan they have option to place multiple orders at a time but only thing is high brokerage.

Most of the times my experience is ...I take short positions for both CE and PE(short straddle) . For ex if i sell ce and pe both at 100 Rs. generally I place buy SL of 130rs for both orders. It will hit one SL and immediately reverses and loosing profit on other side :)
 

checkmate7

Well-Known Member
#20
Hi Vijay, Nice to see you are earning consistently with options. I feel till the time you are comfortable with ur style of trading with awesome 3-4% per month it is really good instead of watching many videos and getting confused.

Generally i check my breakevens of my options in http://opstra.definedge.com/strategy-builder.

Did you designed any excel with formulas. If yes then ok, Otherwise you can have a look on it.
I agree with your fear on Order Placing one at a time. In some brokerages like Sharekhan they have option to place multiple orders at a time but only thing is high brokerage.

Most of the times my experience is ...I take short positions for both CE and PE(short straddle) . For ex if i sell ce and pe both at 100 Rs. generally I place buy SL of 130rs for both orders. It will hit one SL and immediately reverses and loosing profit on other side :)
Nice website to track :)
 

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