Idea 1:- Use pivot level like 14800 in case of nifty and sell 14800straddle monthly expiry (365+335) exit if nifty closes on daily basis below S1 or above R1
After closing below S1 if it closes above S1 next day or any day enter the same position again vice versa for R1
Idea2:- Use R1 and S1 corresponding strikes multiple
Incase of R1 15337 take 15300ce
N in case of S1 14221 use 14200pe
Sell both and hold till expiry or exit if nifty closes below S1 or above R1 around closing
If the same bounces above S1 and falls below R1 re-enfer same strikes
Use same criteria for nifty, usdinr and banknifty
(This is must)Use this margin rule for 1lot banknifty pair keep 4Lax margin
For nifty one lot keep 3Lax
For usdinr 100lots keep 4Lax
I bet you if you do this on consistent basis your ROI will be more than 70% on yearly basis.
Couldn't explain easier than this
Criticisms are most welcomed.
Around closing here means daily closing basis
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Be careful with your strategies/logics and sharing your API keys with your afl/python or even other platform which push orders through your api
It can even wipe your capital in a matter of a second
Thread continued below.
What is api ?
An application programming interface (API) establishes an online connection between a data provider and an end-user. For financial markets, APIs interface trading algorithms or models and an exchange's and/or broker's platform
What are API key and secret?
API Keys and Secrets are the credentials required to use an API Hook. For a request to an API Hook to be authorised, both the X-API-Key and X-API-Secret headers must be provided.
Money can buy trading System's, Money can handle drawdowns if u lost the initial Capital , Money can help u in Trading, Money can buy u resources, Money can buy u Operators,
But Can Money BUY DISCIPLINE needed for trading?
All of us who are lacking Discipline in trading are just killing our own time by just trading watching the red and green snakes going up and down for a penny-wise and pound-foolish.
Disciplined Trader is not 100% perfect.
but he is not even overconfident.
Major Differ between us and Disciplined Trader is
we think after entering into a trade
whereas Disciplined trader sets his system once tested as GOD and worships it.
Note :- it didn't happen due to margin rules.
normally what people are fond of selling the spot straddle and keep SL as total of the straddle and exit at end of day
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Even some algos keep on enter-exit at market with same logic
i think us bhai ne bhi yehi soch k trade lia tha what bad luck happen with him was that where his sl was placed their was no seller available and best seller after his stop was at 1921
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which was the high of that put, where the best order matched,these usually are arbitrage traders who place random bids to sell to just catch such price difference benifits.
yes, SL-L could have been better but now days everyone is fond of algos even algos have such glitches
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The most important component to successful trading can be described in two words: emotional discipline. You must develop the ability to patiently wait for a tradable situation to develop, and then, when it's in front of you, execute the trade.
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It sounds simple, but, believe me, the lack of emotional discipline is the number one reason that traders fail. Some traders tend to force trades when the odds are not in their favor. Others have difficulty pulling the trigger when a good trade presents itself.
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On the back end, some traders hold on to trades too long. As a result, losses frequently become bigger and profits frequently become smaller. These are all problems of emotional discipline.
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