BC OPTIONSLEARNINGS
Saved by @SAnngeri

THREAD: 14 of the best resources/topics for anyone who wants to start option selling as a career. 🧵

Collaborated with @niki_poojary

 1. Best Sources of knowledge for a beginner in option selling?

Zerodha Varsity from @Nithin0dha's team & the @tastytrade financial network.

Links:
https://t.co/iYpilaaaoV

https://t.co/iooGW9CrCZ
2. Top YouTube Channel for Options Learning?

Power of Stocks - Subhasish Pani

What you'll learn:
1. How to form a trading plan.
2. How to scale an account with risk-reward in option selling.
3. Technical analysis logics you can use daily.

15 Learnings:
https://t.co/bv2mbiajZv
3. What are the preconditions to start option Selling:

You should know technical Analysis basics like:
- Support/Resistance
- Chart Patterns
- Candle Patterns
- Dow Theory (HH, LL)

This will help you start taking high probability trades.
4. Risk Management is a must for option selling

If you don't learn to manage your risk, making money in trading is going to be an extremely difficult endeavor

Have some rules:
1. Risk no more than 0.25% per trade as a beginner
2. Risk no more than 2% in a day for the first year
You have to decide how much you're willing to lose in a day.

Whatever the amount, divide it by 3. Just risk that amount in 3 trades in a day. Stop trading if you lose 3 times.

This prevents us from overtrading and losing more.
5. Minimum Capital requirement for option selling.

Beginners can learn and practice option selling with 5L capital.

You'll be able to trade 5 lots with this. If you're doing well can take leverage by buying options and selling more quantities.

(Only if you're doing well)
5. Safest way for beginners to start:

Target options that have over 90% probability of going to zero.

As a beginner target only 0.5% per week.

If you've been profitable for 6 months, try for targets like 0.75% to 1% a week.
6. When to follow Directional strategies and when to follow non-directional strategies?

If the market is in a range, can sell options on both sides outside the range and make a profit. (strangle)

If the market has given a breakout or breakdown then avoid non-directional trading
7. How to select the strike price for selling options.

I started selecting strikes initially which were very low premiums. But had a higher probability of going to zero.

In order to become a really good trader, you need to have "profit cushion".
Once you get the profit can sell strikes based on:

- Support/Resistance
- Premium Based Strike Price

Get a sense of when and how to do adjustments.
8. Stock Options or Index options which one is good for a beginner-level person?

I personally found trading in stocks is totally useless. Not worth the effort you put in.

Unlike an index, stocks can move > 10% and beyond in the F&O segment

Not worth the stress they cause
Beginners should concentrate on index option selling.

Find your comfort whether it's Nifty or Bank Nifty. Personally, I have seen the switch from Nifty to Bank Nifty being quite difficult for some traders.

Might as well start practicing Bank Nifty from the get-go.
9. Top 3 mistakes we made trading.

- Not building a portfolio when the market corrects 30%
- Venturing in stock options due to their luring premiums
- Intend to recover all losses from the same stock thereby ending up marrying a stock
10. What % of return one should expect on a weekly or monthly basis?

Beginners would be doing great if they just manage to even break even after their first year.

Most people are wiped out in the initial years.

Later on, one can gradually move from 2-4% per month returns.
11. How to maintain Good Risk Reward in option Selling

This is an area which we want to learn the most and focus upon in the next 2 years.

However, a simple rule to follow, if you're making 4% a month, don't lose more than 2% in any single week.
12. Is knowledge of Option Greeks is really Important?

Big no! We are aware of greeks and have spent time learning them, but they have not helped us in a single trade.

If you know your support & resistance and when to exit, then no need to know Greeks.
13. Website to analyze Option Chain Data

Although we don't give much importance to option data as it doesn't work nowadays.

Opstra & NSE websites are enough, additionally, our friends really like Icharts and trading tick.
14. How to be prepared for every week?

Learn to create a weekly trading plan. Here's a thread on creating one after analyzing @niki_poojary's account.

https://t.co/aVh21muOYi
If you found this useful, please do RT first tweet.

Follow to never miss them.

See past threads here:
@AdityaTodmal & @niki_poojary

More from Aditya Todmal

Aditya Todmal
Aditya Todmal
@AdityaTodmal
A THREAD:

7 FREE OPTION TRADING COURSES FOR BEGINNERS.

Been getting lot of dm's from people telling me they want to learn option trading and need some recommendations.

Here I'm listing the resources every beginner should go through to shorten their learning curve.

(1/10)

1st Course - TASTYTRADE

This channel on YouTube is a goldmine for people wanting to learn about options both basics and advanced. By far the best and the most popular channel out there amongst option traders.

2nd Course - OPTION ALPHA

This channel is also pretty well known amongst option traders and they have laid out the path to generate consistent income trading options.

3rd Course - PROJECT OPTION

Lengthy videos explaining the benefit of trading options and has gone through

4th Course - TASTYTRADE

Another crash course on options by tastytrade. Different strategies have been compared while some focus on trade management is also
TRADING , OPTIONSLEARNINGS
Aditya Todmal
Aditya Todmal
@AdityaTodmal
Important Concepts from Power of Stocks— Subhasish Pani

7+ years of trading experience in 14 tweets🧵

Collaborated with @niki_poojary

1/— Inside Candles

Inside Candle, breakout strategy has very good accuracy.

There are two candles in the inside candle, the mother candle, and the baby candle.

He trades the breakout of the high/low of the baby candle with the opposite level as a stop loss.

When to pyramid the trade if it goes right?

The next level to add more quantity is the mother candle's high or low, depending on a breakout or breakdown.

The stop loss will remain the baby candle low during a breakout and vice versa during a breakdown.

2/— Big Gap up

If the market is bullish, next day if it opens a big gap up then the buyers are already in profit.

Most traders don't want to see their MTM reduced in such times.

Wait for the first red candle and short the first 5 min red candle with a day high stop.

The R:R is too good in such setups.

There are multiple videos of him catching the day high with this setup.

Everyone's looking for selling puts and he makes money selling calls.
ALL , CATEGORY
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Aditya Todmal
Aditya Todmal
@AdityaTodmal
TradingView isn't just charts

It's much more powerful than you think

9 things TradingView can do, you'll wish you knew yesterday: 🧵

Collaborated with @niki_poojary

1/ Free Multi Timeframe Analysis

Step 1. Download Vivaldi Browser

Step 2. Login to trading view

Step 3. Open bank nifty chart in 4 separate windows

Step 4. Click on the first tab and shift + click by mouse on the last tab.

Step 5. Select "Tile all 4 tabs"


What happens is you get 4 charts joint on one screen.

Refer to the attached picture.

The best part about this is this is absolutely free to do.

Also, do note:

I do not have the paid version of trading view.


2/ Free Multiple Watchlists

Go through this informative thread where @sarosijghosh teaches you how to create multiple free watchlists in the free


3/ Free Segregation into different headers/sectors

You can create multiple sections sector-wise for free.

1. Long tap on any index/stock and click on "Add section above."
2. Secgregate the stocks/indices based on where they belong.

Kinda like how I did in the picture below.
SCREENERS , ALL , TRADINGVIEW
Aditya Todmal
Aditya Todmal
@AdityaTodmal
One of the best tools for Options Traders is @iChartsIndia

9 things Icharts can do, you'll wish you knew yesterday:

Collaborated with @niki_poojary

🧵

By the end of this thread, you'll learn 7 features with uses:

1. Option Chain (Advanced) features
2. Total PE - CE OI
3. Options Intraday OI Breakup
4. Cumulative OI change
5. Backtesting historical Data
6. Data in different intervals
7. Straddle/Strangle Charts

Let's go ↓

1. Option Chain (Advanced):

Uses:

• Understand the options chain better
• Know the correct market direction and
• Sell the right options with a higher probability of success.

Open Option Chain on Icharts and then click on:

• Trend
• Buildup
• Vwap

Like this:


2. Total PE - CE OI

Most popular and powerful feature, even used by experts like @nitinmurarkasmc heavily.

Observe the intraday Change in OI difference and align your trades with where writing is happening.

Can check it only for nearer strikes, or all strikes.

Here's how:


3. Option OI stats

Shows you Total OI and Change in OI in bar chart format.

Can segregate from Near Atm strikes to all strikes.

Historical Data of past expiries is also available to make backtesting easier.
ALL
Aditya Todmal
Aditya Todmal
@AdityaTodmal
Over the last 18 months, I have scaled my income to around ₹10,00,000 or 10 lakhs per week with drawdowns below 10%.

How?

@niki_poojary taught me how to form a weekly trading plan.

I'm going to share what I've learned in this thread.

Here's the simple 10 step process: 🧵

1. Check on the daily chart if Bank Nifty is in a higher high or lower low:

A higher-high (HH) is a bullish pattern, it signifies that it is difficult for the market to go down.

If that has formed on the daily chart, the market will give all the surprises on the upside.


If the market is in a higher high mode, look for good opportunities to sell puts.

Usually, at a higher high, traders buy on breakouts and also buy the dips.

If you want a good Risk-Reward, you can sell puts on a dip. (Only if it's showing some reversal)

2. Take High Probability Trades

Simply knowing a higher high or lower low does not make money. It gives you a bias for the week.

Still, you should try to take higher probability trades that align with your view of the market.

This will get you consistency and a good mindset.

3. Support & Resistance

I would say Support Resistance is the most important and favorite thing for @niki_poojary.

She keeps updating these levels with charts on her Twitter handle during live markets daily.

Attaching some examples will do a detailed thread on this later.
ALL , TRADING

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Aditya Todmal
Aditya Todmal
@AdityaTodmal
Here are my TOP 10 BEST TWEETS of the week: 10th September.🧵

• Psychological mistakes to avoid
• Iron fly strategy
• Calenders strategy
• 3 great books on trading stocks.
• Various risks and how to manage.
• How breakout stocks behave.
• Solutions for peak margin.

Psychological mistakes to


Iron fly strategy


Calenders strategy to give you consistent


Compounding is
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Sensibull - Safe and Simple Options Trading
Sensibull - Safe and S...
@BeSensibull
A free course on the basics of Options Trading by Sensibull. Try it now. It is 100% free
https://t.co/I4ouiibfSB
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ANKY
ANKY
@ANKYIIMR
All important Options Selling Strategies..
A thread🧵:

Simple Directional Call Sell

View: Neutral to bearish
Limited Profit, unlimited risk.
High Probability of profit.
High Margin required.


Simple Directional Put Sell

View: Neutral to Bullish
Limited Profit, unlimited risk.
High Probability of profit.
High Margin required.


Call Credit Spread

View: Neutral to bearish
Limited Profit, Limited risk.
High Probability of profit.
Low Margin required.


Put Credit Spread

View: Neutral to Bullish
Limited Profit, Limited risk.
High Probability of profit.
Low Margin required.
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MyFnO
MyFnO
@MyFnO
The video explains #concepts of #putcall #openinterest so it can help many #beginners also along with some #advanced techniques of reading data.
Please #retweet if you find it useful🙏

its our 1st attempt in Hinglish,
so any feedback will help😀

https://t.co/TE7Aiph6sp
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Varun Mehra
Varun Mehra
@varuncool1863
@ITRADE191 @AdityaTodmal Maine thoda coloufull banaya h..and added to system also....
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