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Want to become better at Positional Trading?

Read this thread...

12 Rules for Professional Positional Traders:

THREAD: 🧵

Collaborated with @niki_poojary

 Rule 1:

"Trade with a stop loss of 2% on your capital for the week."

If you're losing more than 2%, chances are your reading of the market is wrong. The best would be to call it quits for that week.

(1/N)
Rule 2:

" Don't trade in the first 10 mins of any day"

Every day, there is far too much noise in the first few minutes. Positional traders should avoid some time in order to avoid being butchered right away.

(2/N)
Rule 3:

" Wait for candle closings in your timeframe"

Beware of wicks. They are buyer/seller traps. Rather wait for a good candle to close above your support/resistance to open/close a trade.

(3/N)
Rule 4:

" Don't lose more than 10% of your capital in a big gap"

The day I experienced the greatest Mtm loss to my capital was February 24. The figure was -47 lakhs. It was around 10% of my capital. Losing much more would set me back several months.

(4/N)
Rule 5:

" Avoid taking leverage if you have not made at least 30% ROI on your capital."

Strictly avoid using leverage if you are not profitable for a few months. It will magnify both your wins and losses. So loss-making traders should definitely avoid leverage.

(5/N)
Rule 6:

"Develop different systems to trade different scenarios."

Buying markets are different from selling markets. Build setups to trade these environments differently.

(6/N)
Rule 7:

"Learn Chart patterns"

Patterns keep repeating throughout the stock market. Some are very powerful. For example, the rectangle pattern. Always bet on your favorite patterns.

(7/N)
Rule 8:

"Don't do too many adjustments."

The biggest myth for option sellers is that they can "adjust" any trade/situation. It is completely false. It is preferable to either take profit or stop loss.

(8/N)
Rule 9:

" Deploy your capital slowly"

Don't enter all at once. Deploy additional capital only if you are winning.

(9/N)
Rule 10:

"Don't take leverage before an event."

We used leverage during the daily Russia news cycles because we believed the premiums were favorable. We stopped using leverage during events after that event because the MTM swing was too large.

(10/N)
These were the rules that both @niki_poojary and I tried to use in our own trading.

Sticking to these has tremendously helped us scale up and increase our returns.
That's a wrap!

If you enjoyed this thread:

1. Follow us @Adityatodmal & @niki_poojary for more threads on Price action, Option Selling & Trading growth.

We've got you covered.

2. RT the first Tweet to share it with your audience.

I appreciate it!

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7+ years of trading experience in 14 tweets🧵

Collaborated with @niki_poojary

1/— Inside Candles

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Let's start: ↓

While studying her Twitter profile and with constant talks with her, I found these to be the most important patterns she focuses on always.

Then I wrote a small summary of what each pattern means.

Also attached are some examples from her tweets.

1/ Cup and handle Pattern

Happens during an uptrend.

The cup portion has a U-shaped appearance.

The bears are getting weaker as they are unable to drive the prices below the last low.

Subhasish Pani uses this a lot in stocks to spot bullish trades.


Eg


Eg
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Here is the detailed information of about strategy,

Entry time : 9.30 - 10
Exit : Upto you

Strategy :
Sell weekly ATM CE & PE at almost equal price
For ex : Sell Nifty 17250 CE at 50 and Nifty 17250 PE at 48 so it will become short straddle

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Situated on the banks of the river Kaveri, Magudeswarar Temple is one among Paadal Petra Shiva Sthalam. Kshetram is famous Parihara Sthala for Naga Dosham and for performing Tarpanam to the departed souls.


There are 3 sannidhi here for Paramashiva, Mahavishnu and Brahma Deva.

Sthala Puranam says that once Adisesha and Vayu Deva placed Meru parvat at the centre to decide who is stronger among them. Parvatam was held tightly by Adisesha and Vayu blew the wind to push Parvatham.


In this struggle, peak of meru  parvatham broke into 7 pieces and fell in different places as precious gems. Diamond fell at  Kodumudi as Magudeswarar. Panchamirtham abhishekam is very famous here. Vanni tree situated here is very old which contains medicinal values.


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Gunaseela Mahatmyam,a chapter of Bhavishyottara Purana describes greatness of this place.

Venkatachlapathi of Tirumala Tirupati appeared b4 Gunaseela Rishi here,so Gunaseelam is known as Ten(South)Tirupati


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A sceptre(senkkol)rests on right shoulder,with which this murti is believed to cure people affected by mental illness.These patient stay here for a period-48 days& participate in poojas&most of them get relieved of their problems.There is a temple run Mental Rehabilitation center

#storytimethread -As per Sthala Puranam,existence of this temple is due to efforts of Gunaseela Rishi, a disciple of Thalpiya Maharishi.
Thalpiya Maharishi along with his disciple Gunaseela Rishi once went to Himalayas.On his way back, Gunaseela Rishi stayed back at Tirupathi.


He was so wanted to have darshan of Venkatachalapathy in Gunaseelam near his asharam & bless the devotees.

He came back, bathed in the Cauvery,took blessing from his guru &undertook severe penance here in his ashram in Gunaseelam.
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