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

[amrutham]

Hi Everyone,

I am following this forum for last 4 years and this is my first post.

I was a software engineer by profession and worked in the filed for 12 years. Finally I quit my job in Jan 2017 and started full time trading.

I am into trading for last 9 years, mostly options trading.
In the beginning of my trading career I used to buy options mostly. Some times I win and some times i lose.

After accumulating enough capital from my job earnings, I quit my job last year and started trading.

Since Jan 2017,, I am able to generate consistent income by writing options. In the last FY 2017-2018, I am able to generate profit more than my last annual salary.

Its mostly Nifty current month options and BN weekly options and occasionally stock options.

To be continued..

 

[amrutham]

creen shot from one of my accounts is attached for your reference.

 

[imfine]

View attachment 24526 creen shot from one of my accounts is attached for your reference.

Hi,

Its cool man. As you said one of your account do you have multiple accounts ?

options are risky for me but as you have good grasp on it I am sure you will get good as time passes.

All the best dude. Carry on and keep posting.

 

[amrutham]

Brokerage Accounts I am using are ICICI Direct And Zerodha.

ICICI Direct for investing and zerodha for trading. I have one more zerodha account for my wife.

Zerodha's 20 rs for order irrespective of number of lots, is working nice for me and I am able to recover a portion of brokerage (Max 6000 per challenge) through 60 day challenges.


In this thread I am going to list the strategies I am using and current open trades.

Experienced traders, please provide your feedback and point out the mistakes I may be doing.

 

[TraderGYO]

Hi Everyone,

I am following this forum for last 4 years and this is my first post.

I was a software engineer by profession and worked in the filed for 12 years. Finally I quit my job in Jan 2017 and started full time trading.

I am into trading for last 9 years, mostly options trading.
In the beginning of my trading career I used to buy options mostly. Some times I win and some times i lose.

After accumulating enough capital from my job earnings, I quit my job last year and started trading.

Since Jan 2017,, I am able to generate consistent income by writing options. In the last FY 2017-2018, I am able to generate profit more than my last annual salary.

Its mostly Nifty current month options and BN weekly options and occasionally stock options.

To be continued..

Great news. I have always stayed away from option writing. You have the guts! keep going

 

[TraderGYO]

Brokerage Accounts I am using are ICICI Direct And Zerodha.

ICICI Direct for investing and zerodha for trading. I have one more zerodha account for my wife.

Zerodha's 20 rs for order irrespective of number of lots, is working nice for me and I am able to recover a portion of brokerage (Max 6000 per challenge) through 60 day challenges.


In this thread I am going to list the strategies I am using and current open trades.

Experienced traders, please provide your feedback and point out the mistakes I may be doing.

Would love to see your prior trades - thinking process and your own analysis if that is possible.

 

[sridhga]

Congratulations amrutham. You are an inspiration for us.

 

[amrutham]

Current Open Trades for Stock Options for April Expiry:


Sold 1 lot SBIN 230 PE at 2.8 . Total Premium Received : 8400

Plan of Action : If SBI closes below 230 by expiry, then take loss for the option position and roll over the contract to May for the same premium.
If it losses in the month of May also and goes below 200, I may convert it into equity by buy 3000 shares of SBI at the time and use covered calls from there on. If it closes above 230, then keep the premium.

Sold 1 lot PNB 80 PE at 1.1 . Its already fallen so much and if it falls more same plan of action as above.

Sold 1 lot INFY 1200 CE at 15 . This is a covered call as I already hold shares.

 

[vikas2131]

Congrats but be careful . 2017 was far too easy to trade and make money..I would suggest you to back-test your strategy for 6-7 years especially for 2011,2012 2013 and 2015

 

[amrutham]

For Month of April Expiry, I do not have any NIFTY positions currently. I may SHORT 10000 PE if nifty stops falling and takes support in 10000- 10200 range.

Regarding BN weekly options, I have too many options and I may be adjusting my positions very actively during market hours. In the past, most of my profits came from these options only, even though they are very volatile and some times may give big loss.

Current open trades for 05th April Expiry are, SHORT 23500 PE, SHORT 24000 PE, SHORT 24500 CE and SHORT 24800 CE. Very near to current traded price is less number of lots (3-7) and far OTM is more number of lots(10-15).