My relationship with @celiapreihs is the foundation of all the good things in my life, and has amplified the quality of hundreds of relationships with people I've got to know and learn from this year.
Hindsight in 2020: (10 thoughts)
My relationship with @celiapreihs is the foundation of all the good things in my life, and has amplified the quality of hundreds of relationships with people I've got to know and learn from this year.
The grass is always greener until you're standing on it. "No" is still the highest ROI word in my vocabulary.
Make something work for one person (could also be yourself), then work on distribution.
Scale is seductive but you can't get it if you don't have something people want.
If you could, there would be no point anyway - it's tough when someone doesn't love your work but it's how markets function.
The blows hit harder in the early rounds, just keep getting up.
I've found stepping away from a screen to be one of the most productive acts of 2020.
The sensory overload of Twitter in particular: highly intoxicating in both directions.
We trusted a few people we shouldn't have this year and took some decent sized losses as a result, it seems (to me) that these mistakes don't stop until the price you pay is so significant you'll never forget it.
I met a lot of people that are objectively successful on paper that don't enjoy how they have to spend their days.
Almost always, they seem to optimizing for the outcome vs. the process.
Especially when you have a little bit of leverage. One day of inspired execution can generate 100x the results of 30 days of uninspired grinding.
Huge lesson from answering hundreds of customer support emails - practice a little bit of empathy and you'll realize most people are just tired and busy, but incredibly forgiving of honest mistakes.
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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
1. Let's start option selling learning.
— Mitesh Patel (@Mitesh_Engr) February 10, 2019
Strangle selling. ( I am doing mostly in weekly Bank Nifty)
When to sell? When VIX is below 15
Assume spot is at 27500
Sell 27100 PE & 27900 CE
say premium for both 50-50
If bank nifty will move in narrow range u will get profit from both.
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
Few are selling 20-25 Rs positional option selling course.
— Mitesh Patel (@Mitesh_Engr) November 3, 2019
Nothing big deal in that.
For selling weekly option just identify last week low and high.
Now from that low and high keep 1-1.5% distance from strike.
And sell option on both side.
1/n
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
Sold 29200 put and 30500 call
— Mitesh Patel (@Mitesh_Engr) April 12, 2019
Used 20% capital@44 each
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
Already giving more than 2% return in a week. Now I will prefer to sell 32500 call at 74 to make it strangle in equal ratio.
— Mitesh Patel (@Mitesh_Engr) February 7, 2020
To all. This is free learning for you. How to play option to make consistent return.
Stay tuned and learn it here free of cost. https://t.co/7J7LC86oW0