I have been trading for more than 4 years , I tried multiple strategies , trading plans and trading systems.
When I started my journey with zerodha , I initially lost a lot of money. I thought that technology can help to solve the problems of traders.
3 years back in Nov 2023 , I requested a feature from the Zerodha team. past_feature_request_link_here
I wanted the other features , that Time I overtraded a lot, to solve that problem
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I wanted a Time Based Kill Switch(Lets say i don’t want to trade 12pm).
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Quantity based Kill switch.(crossed my limit of Qty, It should close position and Hit kill switch)
When I started my journey , I didn’t know about trading or investing. I had very little money that time. I thought stock investing needs more money and time. I got to know there is another way i,e trading
Little Money → investment —> trading → stock trading (profittable) → F&O → losses
You can see the above line , this tells that You are not looking for money , You are looking for more and more Dopamine.
When I moved to options , which requires very less money to trade but it requires at most Discipline and controlling Emotions. Then the question comes , why does everyone make losses?
Why is option trading difficult ?
Time Decay ,Gamma ,Implied Volatility → these are all opposite for options buyer
Only Trend is your friend , with time decay is pulling you back.
In this unstable battlefield , you are becoming greedy too on options buying expiry day.
Let’s consider the Situation in the past Kurukshetra (online),
Kauravas (Options Seller) Pandavas (Buyer)
Sena → 11 Akshohini Sena → 7 Akshohini
Duryodhan → Delta Arjun → He knows only Direction
Bhisma → Gamma Krishna → Trading System
Karna → Time Decay
Drona & shakuni → IV
Now War Begins 1st chapter – SENA AVALOKAN
Arjun says: how can I win madhav(krishna)? See Delta , gamma , Vega , IV and Time decay and 11 Akshohini Sena all are against us. Basically Arjun ka phat chuka hota hain.
Arjun is the only greatest warrior “pakshi ka ankha bedhane main”, He doesn’t know the real battlefield that the army is too powerful against him.
Krishna: You already backtested , You know these terms , it’s okay we can win If you follow What I will tell.
Arjun's position in kurukshetra is the same as Now in Options trading (especially options buyer ) , Your friend is only Krishna, only He can save.
Krishna means Data based strategy, Improve the mistakes , maintain Discipline. When Krishna tells it's wrong don’t trade, just exit the trade Close the day.
To improve the mistakes , You need a mirror (Diary)
The Ideal journal should have
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Past Visual charts like this (2024 year chart side by side index chart).
visual_chart_link_here_2024 -
Data Interpretation with that trades.
analytics_of_past_trades_link_here -
Emotions diary, you can save your mental state and chart.
I built my trading journal for my usecase , I think this will definitely help for all traders especially Options buyers.
It’s free for Zerodha users fno-diary .
Kurukshetra — Part 1. The war has just begun.