Thread by @BrkoutGeek

Ghanshyam Sir has made sometimes more than a #Crore in a Single day and is one of the Best option Traders in India, watched almost all of his videos and shared my learning that how to become the best #option trader.

Le's Start

1. Start with Less Captial :
No Matter how much money you have you will lose it all if you don't have trading experience so start small like Max 2 Lot, even 1 is better.

2. Trade Everyday: No Matter what happens but never skip a day without trading it, which helps you understand the price action behavior and give you important teaching about market dynamics that impact the price behavior.

3. Focus on One Index: No matter what you choose #nifty #banknifty or even some other index options, stick to one chart. It will train your mind and gradually your probability of guessing the move will become high.

4. Remove the Greed: No matter how good the opportunity is or how much money you have, first, in 3 months do not increase your position size, play with max 2 lots. It will help you practice discipline.

5. Trading Timeframe: 5 Min is Best for Live trading.

6. Wait for Candle to close before execution: We have seen sometimes we get a fake breakout due to lower timeframe volatility. To not become the victim of those false breaks wait till the candle close.

7. 20 EMA is Life Saver: 20 EMA is the best Indicator that I use and is sufficient to understand the trend direction. Put it over 5 Min chart to any timeframe and if the price is above it ;
DO NOT SHORT
until one exceptional case: The price to way too extended.

and VICE VERSA.

8. Never Skip the Big Picture: Larger timeframe impacts the lower timeframe a lot, so even if you are trading a 5 Min chart, look for 15 min, 30 Min, and daily charts to understand the major support resistance or price is extended or not.

9. Close of the Previous Day is Important: I have seen that the last day close works best as good support and resistance which help you to take major decisions like Profit Booking and Trend Reversal.

10. In the Beginning, a Survival Mindset is Better than a Millionaire Mindset :
Focus on how to survive in your initial days, only focus on learning, which will help you in the future to handle those thought situations that the market keeps presenting you most of the time.

Make habit of taking small profits: Not every day an option moves 100% so make a small percentage benchmark like 30% to book your profit. This will help you to save the money that you made in a day.

2 Losing trade max is enough reason to close your trading day and take a good Nap :

If you lose 2 Trades, shut down your Screen. Don't do revenge trade, you will keep losing most of the time.

Post Analysis will make you a Trading King :

We all do mistakes almost all the time, and looking at them and analyzing them gives us perspective or solutions about how to not repeat them again and again and also what improvement is further needed.
So do it every day.

I hope you will learn something from this thread and retweet it so can people who are losing money or want to become options traders can start implementing these rules from the first day of their trading career.
Thank You!!

Read the Below Thread if you want to learn #Swing Trading.

https://twitter.com/BrkoutGeek/status/1522915082849878017?t=OvpX8frrw9YIWDLb6Fyssg&s=19