The brightest people I have met share a superpower that would serve investors well - the ability to make inherently complex things simple and understandable.
🧠 11 of the best tweets by @jposhaughnessy
Jim Sir has a spectacular ability to simplify complex topics and put them in just a tweet or thread.
I scraped his entire tweet library - here are some of my faves 🔥🔥🔥
THREAD...
The brightest people I have met share a superpower that would serve investors well - the ability to make inherently complex things simple and understandable.
If you can change your focus, you can change your future.
Don’t spend a minute worrying about something that you can’t control. If something can’t be changed by you taking direct action, put it out of your mind.
Today’s society is overrun with useless distractions.
Things you learn as you get older:
Other people are far less interested in you than you think they are.
Investors:
Your "morning routine" doesn't matter;
Finding "clever hacks" won't help you;
Reading lists of "10 things all successful people" do won't help you;
Watching "motivational videos" won't help you.
What will?
Controlling your emotions, being patient and persistent.
These "if you'd invested, you'd have xxx dollars" memes are incredibly destructive to investor behavior.
They encourage hindsight bias by making it seem like it was incredibly easy to know what the stock would have done.
It wasn't then, it isn't now.
Markets change minute-by-minute.
Human nature barely changes millennium-by-millennium.
There's your edge.
Point drops in any index, be it the DJIA or the S&P 500, are meaningless.
All of these "3rd largest (point) drop in history" stories are meant to mislead and scare you. Don't let them.
The only thing that matters is by what % did an index or stock decline or advance.
One area where investors have an advantage over chess players:
In chess, there is a term called zugzwang, which means that even though the best move is to not move, the game compels the player to do so, often putting him at a disadvantage.
Investors are free to not move.
The only person you're hurting when you get continually 'outraged' about events outside your control is yourself.
Continual anger is a poison that if it were in a bottle with a skull & crossbones ☠️ on it, you would never drink.
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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
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
