Trading for Living -- Successfully Completed one year as Full Time Trader

[mycall]

As per my theory such volatility is again a game... market makers are pressed into action to wipe out all longs by hitting their S/Ls... bulls and bears both are playing significant roles in this...

It was quite obvious that people have S/Ls around 26950 to 27000 apart from all trailing S/Ls... all are out of the market

 

[amrutham]

Yes... Naked shorts are most lucrative item but most dangerous if the trader doesn't have any counter plan or a S/L.

I got busted twice. Since then shifted to spreads.

But the interesting thing is in the name itself... 'OPTIONS'... it's says that the traders have many 'options' when dealing with options

It is better to keep juggling with combination that suits current position...

Amrutham is seems to have mastered the art

Controlling emotions with naked positions is very difficult, especially if the position size is large compared to account size. You don't know where your loss will stop.
With other strategies where your risk is pre-defined, atleast you can think with cool mind.

Last year, I have also had big hit with naked shorts, which forced me to reduce the position size drastically.

 

[SarangSood]

View attachment 26699
Amrutham

Sorry to bother , but am planning to hold these and let them expire. Should be fine ? right .

Market is brutal, knowledge is our only weapon cum defender.

Market is always right. The only thing we can do is adjust our positions as per market movement.

It seems to be too volatile. Be careful with naked shorts.

True that. Since Friday my delta neutral strangle is not giving any profits. With every shift or readustment there is a loss of credit received without any gains which is usually not the case. It made me convert the strangle into an iron condor. Yesterday and today have been highly profitable in the expected volatility because of that only.

 

[amrutham]

True that. Since Friday my delta neutral strangle is not giving any profits. With every shift or readustment there is a loss of credit received without any gains which is usually not the case. It made me convert the strangle into an iron condor. Yesterday and today have been highly profitable in the expected volatility because of that only.

SarangSood,

You are a full time trader?

 

[mycall]

True that. Since Friday my delta neutral strangle is not giving any profits. With every shift or readustment there is a loss of credit received without any gains which is usually not the case. It made me convert the strangle into an iron condor. Yesterday and today have been highly profitable in the expected volatility because of that only.

I am also behind finding a suitable system for quick profit in intraday delta neutral strategy in options... currently testing a strategy... lets see whats the outcome...

 

[SarangSood]

True that. Since Friday my delta neutral strangle is not giving any profits. With every shift or readustment there is a loss of credit received without any gains which is usually not the case. It made me convert the strangle into an iron condor. Yesterday and today have been highly profitable in the expected volatility because of that only.

I am also behind finding a suitable system for quick profit in intraday delta neutral strategy in options... currently testing a strategy... lets see whats the outcome...

I highly recommend it. There are a a few tricks to neutral the delta though. Such as what the gamma should be when you do it. I personally neutral in such a way that both delta and gamma get equated. Also it is crucial that while adjusting you either gain or receive more credit otherwise it is a sign of volatility to come.

 

[SarangSood]

True that. Since Friday my delta neutral strangle is not giving any profits. With every shift or readustment there is a loss of credit received without any gains which is usually not the case. It made me convert the strangle into an iron condor. Yesterday and today have been highly profitable in the expected volatility because of that only.

SarangSood,

You are a full time trader?

Yes. Been trading since 2005 and my father 1991. Am specifically an option writer from last 9 years.

 

[nikhil_chinapa2]

Yes... Naked shorts are most lucrative item but most dangerous if the trader doesn't have any counter plan or a S/L.

I got busted twice. Since then shifted to spreads.

But the interesting thing is in the name itself... 'OPTIONS'... it's says that the traders have many 'options' when dealing with options

It is better to keep juggling with combination that suits current position...

Amrutham is seems to have mastered the art

Someone sitting with huge amount at stake obviously would need to be master.

 

[VJAY]

Yes. Been trading since 2005 and my father 1991. Am specifically an option writer from last 9 years.

Wow ...great...hope we are get good lessons from you too like amrutham...As we are in blind when come option writing....Please share your thoughts whenever time permits you....Thanks

 

[amrutham]

Yes. Been trading since 2005 and my father 1991. Am specifically an option writer from last 9 years.

Wow. Options writing for 9 years. You might have seen many highs and lows. Please share your experiences.

What strategies do you use? Is it same strategies or you changed strategies with time?