Santhosh Pasi - Option Oracle

Trade Systematically to Uproot the Emotions

Go for the system-based trading. If you are trading CASH or Future (intraday), I used to SET my trade. Here SET means, (Stop Loss, Entry, and Target). First I use to place Stop Loss (triggered market order), then place an order for entry. And later on, once you get entry, place order for Target. As soon as either Stop Loss or Target hits, cancel the other. 

Avoid Analysis Paralysis

I'm a non-directional trader. It may be occasionally non-directional but slightly bullish or bearish. Don't try to predict the market, but try to follow the market. While taking trades, I avoid lots of analysis I try to keep the trade plan as simple as possible.

If your trading is simple and boring, it means you are on the right path.

If your trading gives you excitement, it means it is just by chance and not planned one.

• First draft your trade plan suitable for your personality.
• Keep position size as small as possible.
• Focus on a few sets of strategies and trade those.
• If you are using technical indicators or oscillators, consider 3-5 only and not more.
• Do not try to trade all asset classes, all time frames, etc.
• You could be master of one or two things but can't be master of all.
• If you are trading option, try indices instead of stocks.
• If you are trading option, prefer to go for risk defined strategies only.
• Manage your risk.
• Do not do force trading. Very next moment, we may get an even better trade opportunity.