naked option trading?

[headstrong007]

I personally think an excellent chart reader with a lot of experience can make the profit with only candlestick charts of any instruments. But, such traders are very rare.. they are exceptional. The exception [that] proves the rule.

I trade with weekly options with BNF charts only. I don't watch Option Geeks(although I have researched about Option Greeks a lot in previous years and applied them in trading). It's just I can catch the big momentum trades so the Option Geeks are not required now. For some other traders (toocool etc) may be the same case.
For scapers, Option Greeks also not required, but scalpers also belong to exceptional categories! Trading firms try to hire them.

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@kumar etc, In short, I can say, If u don't have any exceptional edge, knowledge of Option Greeks is the must for Options Traders. And If u can catch the momentum trades again and again then u have the rare edge, u don't need to know the details, concentrate making money.
So, don't stop the flow if someone wants to teach something for free...Maybe.. something useful for someone would come...

*****
I have shared my part of knowledge and experience to help the trader community in this thread. Lets give others the chance of knowledge sharing too.

 

[headstrong007]

Sorry....Kumar .I did not notice that you have opened this thread. By the proactivity and eagerness about learning, I thought Purushothamopened the thread.
If the thread owner is uncomfortable about learning Option Greeks etc, then there is no need to disturb him. I understand Kumar want something different...

Lets Subh/Purushotham open a new thread about
'How to trade options as safe as possible using Option Greeks etc!.' or any name suitable...
There are lots of threads in TJ, no harm to open a new thread when the owner is uncomfortable.
Sometimes saying the facts/feelings clearly helps more.......

 

[headstrong007]

Only THREE type of traders can make money throughout the years from naked options buying without knowing and applying Option Greeks (strategies based on Charts-Ranges & Option Greeks)!!
They are less than 0.05% or even less.. They are either,

1. Exceptional chart reader:- They can catch big momentum trades again and again. They can predict the rangebound times, even the ranges and breakout zones clearly. Very few trader can do it consistently!

2. Exceptional Traders who can identify big momentum stocks during big events and the direction too (direction part is very difficult to predict consistently ).

3. Exceptionally skilled Real Scalpers who have unbelievable scalping skills.

I was a successful scalper, it was a tedious job. I quit it bcoz, with experience, I can make more money easily without hurting my eyes and health!
Scalping is a special Trading Skill! No one can teach scalping, it comes with practice only when u have some quality inbuild!

Scalpers don't apply chart reading strategies usually. Scalpers don't trade in momentums too, they just find range bound conditions or range bound stocks.

This thread may be more about scalping! So just practice!! Within 3-4 years of real life trading practice, anyone can find out.


General traders can't copy above three categories of exceptional traders so in the long term they can't make money with Naked Option Buying. Keep it simple!

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If someone can identify the momentum stocks (during related big news flow/board meeting or result etc)and can predict the maximum range using charts in next few days. Then it is easy to make the profit by applying different suitable strategies using knowledge of Option Greeks after closing the Greeks! The Same thing is applied to Index Options. This is the only possible way to make money for general traders, use all pieces of knowledge when u don't have exceptional edges.

That is the different topic not related to this thread...It is better to move such discussion to another thread....Avoid unwanted frictions!

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Happy Diwali to All !!

 

[Kumar .]

Sorry....Kumar .I did not notice that you have opened this thread. By the proactivity and eagerness about learning, I thought Purushothamopened the thread.
If the thread owner is uncomfortable about learning Option Greeks etc, then there is no need to disturb him. I understand Kumar want something different...

Lets Subh/Purushotham open a new thread about
'How to trade options as safe as possible using Option Greeks etc!.' or any name suitable...
There are lots of threads in TJ, no harm to open a new thread when the owner is uncomfortable.
Sometimes saying the facts/feelings clearly helps more.......

NO need to open any new thread.Certainly I'm not on the forum for the debate-Making money with Greeks vs without Greeks.
My purpose was only to know that if someone really making money trading naked options(just like Equity Trades Intraday).
If someone was doing it,I'd have checked there threads to know more.

Subh/Purushotham can continue in this thread only.

 

[Kumar .]

@headstrong007 Yes,I'm a Scalper.
Thanks for very clear and straight forward replies.

Happy Diwali Friends

 

[Purushotham]

13 th to 25 EOD

 

[Cornelis]

Well yes, I use scalping in general, it's quite comfortable in that way=)