A lot has been said here. Please do not misunderstand me and don’t get lured by what I am going to put down here. It’s been years of struggle to understand options behavior and attempt of governing fear and greed. Not been an easy task for me either. My story is almost similar.
1. 2018-2019:
My options Journey started in the year 2019, and I was earning well from my software dev job. It looks so easy to earn from the market, and so difficult to accept the defeat! I was winning - loosing- winning -loosing. Was buying options as well as selling. Tried all sorts of strategies and none worked out for me. I can say, I had no patience at all and more than greed fear of loss used to control me.
2. 2019-2020
Oh…I had more green days than red!! But what? lost more than 6L. Sheer disappointment and I started skipping trading from october. The month of Mar 2020 seemed greener, but then COVID hit and had no guts to continue.
3. 2020-2021
It seemed everyone else was earning like hell from market owing to high premiums and I couldn’t resist from April. Immediately burnt my finger, not knowing how to manage the trades, losses were quick! After heavy loss in April and May, I went very slow and observant from June. Believe me, my recovery started from June and continued good till Mar 2021.
4. 2021-2022
This year, I thought I will end green. My confidence boosted, my faith in strategies had grown. Despite, I couldn’t manage profit. Because, on loss days I had heavy losses and profit days were booked early.
5. 2022-2023
First half of the year, I really played well. I made sure, my losses are lesser than profits and there is consistency. But from october, I started changing my strategies hoping for better and started taking more hit. This resulted more brokerage and charges and lower confidence on self. Any how closed green first time ever after five long years.
6. 2023-2024.
Okay, this year looks same as 18-19 on first look!! Specially the second half. But Green days were better than loss days. The risk reward was well maintained. The result?? A greener ending!
7. 2024-2025 (Till date).
This year, I scaled up with confidence! Started trading on my wife’s account (To save tax). Obviously, May was an easier month for all. But I hope ( & pray), thee rest of the year also I will play well.
Here are few lines from Me (Will be happy, if it helps someone):
- If you can’t control your psychology/mind, you will never be able to trade.
- trading is not gambling, it’s rather game of probability and money management.
- You can never learn or copy from other people’s strategies. Make your own, then only it will boost your confidence.
- Be ready for accidents, spikes, broker down etc.
- Be humble - No one knows what strikes us tomorrow. I have faith but not confident what will be tomorrows situation.
- Greed and Fear both kills.
- Skill level requirement Option buying> Directional Selling > Non directional Selling.
Please, again I say, do not copy me as example. Everyone’s journey has different path, and I am still a beginner learning every day!!!