No One is Born a Great Trader, One Learns by Trading.

System Trading If you want to survive in the market and play the game with big boys like HNI's, FII's, DII's, and other Hedge Fund houses then you have to follow the system. The system will give you the edge to make big money and loss small money since the rules are already defined in it but you can alter it with your fear and greed emotions and that is called not following your system or rules. Well, this is the difference between a professional trader who is very disciplined in terms of following rules and an emotional trader who always gets driven easily and makes huge losses. Basically, you have to trade like a robot since business is done without emotions and by following only predefined rules and the same way you have to do in the trading and treat it like a business. You have to understand the move of big players and you have to apply the hacks & tricks used by them hence you have to follow the systematic trading approach.  Hence before creating an edge you have ...

For intraday 3 min charts For positional at least 30/75 min charts First look at daily charts and find direction. Then look at 60 min chart and find support and resistance and then find the intraday trend and then Thoko.(Daily>60min>3min>Execute) The biggest mistake of every trader is that they are predicting target and taking trades based on target and that's view is preventing  them to change as per market direction. Manage position w.r.t market movement, Deploy capital in phase manner 25-50-75-100%. Play straddle only when VIX is low, Intraday is different. I do for positional. For Intraday you have fixed SL, you can use capital as per your risk. Identify last week range if in current week BN trading near low range sell only calls. If trading near high sell only put. If trading in between range sell both call and put. Strike to sell - select at least 1-2% away strike from high/low range if BN trading in middle If near high sell put at last week low strike. If at low sel...

 Mitesh Patel: The angry young man of options trading tips & tricks -The main lesson that I learned from the book was not to sell short when the market is in an uptrend or  to buy when the market is in a downtrend. -In a rising market, the stop loss was kept below the previous low while in a falling market it was above the previous high. -My next step was to mix technical analysis with options selling. I used the support and resistance points to initiate a trade.  -If the market moved higher after testing the support levels, I would sell the puts,  and if it fell after testing the resistance levels, I sold calls. -Only if it lingered between the support and resistance line would I create a short strangle trade. -Suppose the Bank Nifty reverses from a support level at 26,500, I will sell a 26,200 Put.  The strike on which I trade has to be 1 percent away from the support or resistance level.  If the Bank Nifty is breaking the previous trend, I will cut m...