How my day "used to" be as a trader when I "used to" have NO TRADE PLAN!

I have taken an example of Friday BNF.

I had committed these mistakes but repaired them immediately!

What lesson I learnt is depicted in last tweet of this thread.

Let me know if you can relate it!

At start of day I saw 2 big Green Candles & made view as Bullish

But, avoids taking trade as I just read that only amateurs trades in first few mins

Now BNF starts turning, I get 1st sign to Short

But didn't enter as my view was bullish & hence waiting for more confirmation
After that I see BNF keeps on falling. Now I realised, I should have shorted at first sign only and starts regretting.

Now, I am having a fear to enter now and hence avoids entering.

Convinced myself that I will short whenever I see a retracement and continues to watch.
Time is already 11.30, People on twitter already started posting SS

Now much awaited retracement comes Up

Now I start doubting if I should enter as I can see Nifty has already fallen a lot, ppl have already booked their profits & posting SS

Again Not Entered & still waiting 😐
Now I see Nifty again started falling.
I again started regretting "Why I did not enter on retracement"

And Finally with all the Regret, Frustration, FOMO entered Short on Break down of day Low.

Already exhausted with all those feeling & now just hoping it will keep going down
You know what happens next
BNF moves UP right after I entered

Now I am in more Regret, more Frustration and starts taking random and REVENGE Trades

The day where I could have gained good profits, I ended up myself in Frustration, Regret.

Just because I did not have any Plan!
That's why you should have trading Plan and Rules with which you make a system!

Making plan is important but sticking to it is more important.

That's why its been said

"Markets are Hardest way of making Easiest Money"

Hence,

"Plan the Trade & Trade the Plan"

More from All

Master Thread of all my threads!

Hello!! 👋

• I have curated some of the best tweets from the best traders we know of.

• Making one master thread and will keep posting all my threads under this.

• Go through this for super learning/value totally free of cost! 😃

1. 7 FREE OPTION TRADING COURSES FOR


2. THE ABSOLUTE BEST 15 SCANNERS EXPERTS ARE USING

Got these scanners from the following accounts:

1. @Pathik_Trader
2. @sanjufunda
3. @sanstocktrader
4. @SouravSenguptaI
5. @Rishikesh_ADX


3. 12 TRADING SETUPS which experts are using.

These setups I found from the following 4 accounts:

1. @Pathik_Trader
2. @sourabhsiso19
3. @ITRADE191
4.


4. Curated tweets on HOW TO SELL STRADDLES.

Everything covered in this thread.
1. Management
2. How to initiate
3. When to exit straddles
4. Examples
5. Videos on
The best morning routine?

Starts the night before.

9 evening habits that make all the difference:

1. Write down tomorrow's 3:3:3 plan

• 3 hours on your most important project
• 3 shorter tasks
• 3 maintenance activities

Defining a "productive day" is crucial.

Or else you'll never be at peace (even with excellent output).

Learn more


2. End the workday with a shutdown ritual

Create a short shutdown ritual (hat-tip to Cal Newport). Close your laptop, plug in the charger, spend 2 minutes tidying your desk. Then say, "shutdown."

Separating your life and work is key.

3. Journal 1 beautiful life moment

Delicious tacos, presentation you crushed, a moment of inner peace. Write it down.

Gratitude programs a mindset of abundance.

4. Lay out clothes

Get exercise clothes ready for tomorrow. Upon waking up, jump rope for 2 mins. It will activate your mind + body.

You May Also Like

These 10 threads will teach you more than reading 100 books

Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)


10 competitive advantages that will trump talent (2/10)


Some harsh truths you probably don’t want to hear (3/10)


10 significant lies you’re told about the world (4/10)
MASTER THREAD on Short Strangles.

Curated the best tweets from the best traders who are exceptional at managing strangles.

• Positional Strangles
• Intraday Strangles
• Position Sizing
• How to do Adjustments
• Plenty of Examples
• When to avoid
• Exit Criteria

How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr

• When to sell
• How to do Adjustments
• Exit


Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in


1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr

• Sold Strangles 20% cap used
• Added 20% cap more when in profit
• Booked profitable leg and rolled up
• Kept rolling up profitable leg
• Booked loss in calls
• Sold only


2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.

• Identified a reversal and sold puts

• Puts decayed a lot

• When achieved 2% profit through puts then sold