BC SCREENERS
Saved by @SAnngeri

Trading Mistakes & Lessons Learnt šŸ§µ

1) I always keep my mistakes & lessons learnt in front of my screen while trading.
Bcz we as traders tend to commit the same mistakes everytime.

So seeing your learnt lessons everyday ensures that you avoid them.

#trading #mistakes

 2) In 2017, I analysed all my trades and saw that I have majorly lost in stock futures and profits came only via index trading.

I accepted that I am not great at stock trading & been trading index only majorly since then & have never missed a day trading BankNifty
3) I decided to adjust all of my past losses to 1 % of capital to see the effect of capping the downside.

I would have had a gain of more than 230 % if I had capped losses at 1% of cap.

Lesson: Keep losses per trade less than 1% of capital no matter what !
4) While trading index options, I lost sometimes due to IV rise,flash crash, and option freezes.

Lesson: Never take markets lightly & Always keep protective stops in the system (and not in your mind) to keep loss in control in case of blackswan.
5) Being an option seller, I have a tendency to manage my position by rolling up/converting to calendar etc.

So many times I have wasted 1 or 2 weeks just to close a loss making trade at costšŸ˜¢

Lesson: I do manage now but exit as soon sold options become ITM or 2 x in value.
6) ā€œOption sellers eat like a chicken but shit like an elephantā€

So always always manage risk especially while selling options.

Eg. Corporate tax rate cut day, demontisation, surgical strike, 2020 fall etc were brutal moves & if not managed properly can take years of profits.
7) I used to carry naked far otm puts overnight position on largecap stocks thinking I was safe but on 18th Aug 2017 Infy was down 13% as CEO resigned.
Luckily I had only 1 lot but learnt a good lesson

Lesson : Always hedge your overnight position
8) From the lesson learnt from INFY trade I got saved later in my career

I had a position in Yesbank but it opened 10% gapdown next day but I got saved as position was completely hedged.

Lesson: Learn from your mistakes,note them in journal & never repeat it again!
9) If possible also write about your biggest losses and how you felt that time so that you make sure you never go thru that emotional pain again by repeating earlier mistakes.
10) I committed the same mistakes for years.
Inspite of knowing that I shouldnā€™t commit them.
Bcz we as humans tend behave in a certain manner everytime.

So , itā€™s best to keep your lessons/mistakes hand written in front of you and read everyday before trading.
11) We as traders get complacement when we are on a winning streak & my largest losses have come after my largest winning streaks

Lesson :
Never get complacement & always remember that market is supremešŸ™
So stay humble always !
12) I have also written about my largest losses & the reason for the drawdown.

Was it my fault ?
Did Market conditions change?
How I felt during the drawdown ?
What could I have done better ?

Lesson :
All this gives you the confidence to sail your next drawdown smoothly.
13) I think the key component in trading success is stock selection and limited focus.

-Select any 1 liquid instrument and analyse itā€™s historical behaviour in detail and build a rule based strategy around it.
-Stick to your strategy and never miss a trade in it.
14) Know all major levels, how the instrument moves generally & behaviour of that particular stock.
- Generate additional insights & incorporate the feedback & insights back in to your trading strategy.
- This sheer focus will give you the results you have been craving for.

End

More from Sourabh Sisodiya, CFA

Sourabh Sisodiya, CFA
Sourabh Sisodiya, CFA
@sourabhsiso19
Thread
How to manage strangles dynamically incase of a violent move or IV spike ?

1) Yesterday and infact entire last week if you had created strangles you would have experienced that during upmove only call side were increasing but puts werenā€™t decaying.

#trading #Options

2)In morning I had created a short strangle
200 lots 25000 PE sell at 102
200 lots 27000 CE sell at 161

You can sell from below image that if I had waited in this strangle till day end I would have lost around -4.5 L

So lets see what all adjustments did I do logically.


3)After creating strangles the premiums strarted increasing as puts were not decaying and calls were increasing.
So I had kept 100 lots buy on 26500 CE at 400(day high)
My buy got executed at 400 around 12:15 pm & I exited 25000 PE at 75


4) I had kept more 100 lots buy at 435 (recent high made during upmove till now)

The buy got executed at 12:15 pm
So my current open postions now were

200 lots 26500 buy at average 420
200 lots 27000 CE sell at 161


5) Logic:
As short strangles are basically short vol so if there is a movement on one side with no decay then one can start buying atm calls.
What this does is it converts your strangles into ratio spread and if move continues eventually into a debit spread
SOURABHS STRANGLE ADJUSTMENT STRATEGY
Sourabh Sisodiya, CFA
Sourabh Sisodiya, CFA
@sourabhsiso19
Options Thread

How options allows to change and adjust view dynamically.
Letā€™s understand with a live example.

Example : Nifty is at 11921 and you are bullish on Nifty.

1) Buy Naked 11900 CE(call) at 167

Breakeven : 12068
Max Loss : Rs 12555
Max Profit : Unlimited


2) Now your view changes from bullish to slightly bullish so you can convert naked call into a bull call spread by selling 12100 CE at 72

Breakeven : 11996
Max Loss : Rs 7100
Max Profit : Rs 7800

#OptionsTrading #trading


3) Now your changes from slightly bullish to slightly bearish. You can convert the bull call spread into a ratio spread by selling more 2 calls of 12100 CE

Breakeven : 12224
Max Loss : Unlimited above 12224
Max Profit : Rs 18550

#OptionsTrading


4) Now if your view changes to sideways then you can buy 2 lots of 12200 CE to convert the ratio spread in a butterfly spread.

Breakeven : 11936 to 12182
Max Loss : Rs 2600
Max Profit : Rs 12300

#OptionsTrading
OPTIONS DYNAMIC ADJUSTMENTS
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Sourabh Sisodiya, CFA
Sourabh Sisodiya, CFA
@sourabhsiso19
Thread : Trading Applications that I use on a daily basisšŸ§µ

1) After putting a detailed post on hardware & multi-monitor setup. Few asked for softwares I use for trading.

So I am listing softwares/apps which I find the most useful for trading & investing


2) Trading View or Kite app

I use trading view for intraday charts.

As I trade intraday, I use the 5 min time frame.

My chart is simple with 20 sma plotted on it along with CPR(central pivot range)

Price > 20 sma & CPR indicates bullish trend for intraday & vice-versa


3) Icharts

As I majorly trade option premiums(short volatility or theta decay strategies)

I keep a track of combined premium of strangle using @iChartsIndia

Combined premium should be trending down & below VWAP to create a strangle


4) QuantsApp

As I need to provide analysis on TV channel.

I need to analyse overall market breadth, futures data & option chain activitiy.

@quantsapp provides

Futures Data : Long Builtup/Short Builtup
Options Data : Max Call OI/ Put OI
Market Breadth : For overall sentiment


5) Spider

I used @SpiderSoftIn to scan momentum stocks for intraday.

Spider helps in identfiying :

stocks hitting 52 week high/ low
Stocks making day high/low
Stocks with large buying single orders
SCREENERS , ALL , TOOLS
Sourabh Sisodiya, CFA
Sourabh Sisodiya, CFA
@sourabhsiso19
How to identify momentum stocks for intraday trading

Explained in detail with examples with a scanner to scan stocks(link in youtube description)

https://t.co/wf4EOV9Ktt

#trading #youtube #markets
STOCKLEARNINGS
Sourabh Sisodiya, CFA
Sourabh Sisodiya, CFA
@sourabhsiso19
Thread šŸ§µ:
A Day in the Life of a Trader (A day in my Life)

1) I absolutely love my workā¤ļø! In fact, I grew up dreaming to be a trader. So trading, to me, doesnā€™t feel like working (except when I losešŸ˜‚).
Itā€™s fascinating because itā€™s different every day.

#trading #life


2)7:30 AM : Alarm Rings

A typical week day for me begins at 7:30 AM.
I spend the next 30 minutes on my daily chores ā€” get ready for office, grab a quick breakfast & have a hot cuppa coffee.


3) 8:00 AM : Leave for office

On my way to office, I check what happened at the Wallstreet overnight & how are Asian markets performing.
I then look for any macro news that may affect overnight positions

P.S: We are moving to a new bigger office & will share pics of that soon


4) 9 AM - Connect with Trade Room members

I connect with trade room members on zoom & share my plan for the day, stocks to keep in radar & how to play the index & which option strategies to execute

For more details about Online Trade Room you can check

https://t.co/WrQPxhABsE


5) 9:07 - Pre Opening session

I keenly observe the pre-opening to get a general sense of where the market is it likely to open. At 9:07 AM, the pre-opening prices are out. I make a note of stocks opening with a big gap up or gap down and keep them on my watchlist.
ALL

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Some ofthe biggest breakouts occur after Volatility Contraction, the analogy is that more a spring is pressed, higher it jumps whenever it gets released.

There is a VCP Scanner on chartink (Not mine). This may also be used to find potential Breakouts.
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Nikita Poojary
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@niki_poojary
One of the most successful stock trader with special focus on cash stocks and who has a very creative mind to look out for opportunities in dark times

Covering one of the most unique set ups: Extended moves & Reversal plays

Time for a šŸ§µ to learn the above from @iManasArora

What qualifies for an extended move?

30-40% move in just 5-6 days is one example of extended move

How Manas used this info to book


Post that the plight of the


Example 2: Booking profits when the stock is extended from 10WMA

10WMA =


Another hack to identify extended move in a stock:

Too many green days!

Read
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DTBhat
DTBhat
@dtbhat
A small multi time frame system to identify stronger stocks based on RSI/SuperTrend/EMA
@Definedge
Conditions:
a) RSI > 55 < 70 in daily
b) RSI > 60 in weekly/monthly
c) Candle close above SuperTrend(10,3)
d) Candle close above 200EMA in daily and 34EMA in weekly/monthly
+

I have published these scanners in TradePoint Web of @Definedge. These scanners can also be developed in TradePoint Desktop.
1) Run these scanners on Multi Time Frame Scanners
+


Save the qualified candidates (score above 2) to a group for doing further analysis.
+3


Run FusionMatrix on this group to check stronger candidates, Sort on RS-Ranking score and select top candidates. Look for long entries based on your favorite systems.
+4


One example #TATAELXSI on daily charts
RS chart bullish ABC pattern and in Price chart probable bear trap and bullish ABC
(bullish divergence between price and RS charts also)
+5
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Yash Mehta
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@YMehta_
Screeners helps trader in saving lot of time in filtering best stocks out of 5000+ listed stocks.

Here is the list of top 7 Free Strategy and its respective screeners that I use:

Also, last screener is my favorite to pick early momentum stocks.

1/ Golden Crossover:

Golden Crossover of 20 EMA above 200 EMA is a good strategy used by the trader. This screener will help you in identifying stocks that has given golden

2/ CCI Momentum:

CCI is a good indicator to find out stocks that are bullish and are in momentum. I had already shared a thread on the same.

This screener will help in identifying stocks for which CCI has crossed above

3/ Bullish Engulfing:

Bullish Divergence is a setup used by contrarian traders.
This screener will help in identifying stocks in which bullish divergence is

4/ Bearish Engulfing:

Bearish Divergence is a setup used by traders to take contra trades.
This screener will help in identifying stocks in which bearish divergence is
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ScorpioManoj
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@scorpiomanojFRM
#FREETIP For new followers
A pivot based intraday trading setup for any markets.
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WHEN GH0RI TOOK TO HIS HEELS WHILST FIGHTING A HINDU QUEEN

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Strategy! Bravado! Glory!

(Thread)


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They conveniently deleted this event. Why? An agenda aimed at making us feel weak and inferior against the invaders in an attempt to glorify them. Simple strategy: To destroy a civilization tamper their history.(2)

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#DoYouKnow -The place where
Lalitha Sahasranamam -1000 names of Devi originated.

It is in Lalithambigai temple -Thirumeeyachur,Near Mayiladuthurai,TN

There is a Legend #story & it is related to this beautiful #sculpture of Kshetrapuraneswarar & Ambal Lalithambigai #Thread šŸ‘‡


#Legend #story
It is believed that this is birth place of Kashyapa Maharishiā€™s sons, Arunan& Garudan. Arunan(charioteer of Surya)was physically handicapped.He was a Shiva devotee.Arunan wanted to visit Kailash to have Shiva Darshan,but Surya Dev denied permission.

So Arunan disguised as a girl & was on his way to Kailash.On the way Surya Dev saw this girl & outraged her modesty.Shiva was very angry with Suryan for misbehaviour & cursed him to get darkened. Whole world plunged into darkness.Surya Dev pleaded to Bhagwan Shiv to forgive him.

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Even after severe penance,Shiva does appear,so Surya Dev cries out in agony.Disturbed by his call, Parvathy protests.Siva pacifies her & offers relief to Surya Dev.The sculpture of Shiva pacifying Ambal shows her sullen from one angle &smiling from another.
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In the first skandh, the importance of Vedvyas


and characters of Pandavas are described by the dialogues between Suutji and Shaunakji. Then there is the story of Parikshit.
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It also discusses the evolution of universe.( https://t.co/2aK1AZSC79 )

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