Top 4 Apps for Option Traders

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I have 2 brothers and both dabble in the stock markets and was lucky that one of my brothers mainly invests and the other trades options actively. I started my stock market career day trading in stocks with margin and also small bits of short-term trades. So I would have to thank my brothers for introducing me to the markets.

Had a few lucky trades to begin with, but was never successful trading equity, blowing up my account a few times in the process. Most of the trades were based on guts and some on tips given on TV. How did you manage to continue trading when you made these losses and for how long? I was having a good job and that allowed me to stay active in the markets, adding trading capital from my salary at the end of every month, it was a blessing in disguise. I started trading in early and this method of trading continued till May when there was a sudden top option traders in india in the market which was a big setback not only for my day trades but also on my delivery trades, which I exited in panic.

This incident was an eye opener on how trading based on news, watching TV or on a hunch can never really be profitable unless I had the news before everyone else did. This is when I got introduced to Technical Analysis and it started off with learning candlesticks. As and when I learnt more about technical analysis, I suddenly felt that it is possible to have systems based on strategies which can run like a money making machine removing all human emotions.

It also helped that I was good at shell scripting and the automation background helped me put up a few systems. You could say that I have tested over strategies from then to now. Most of the results were based on open price, but the open price that you see top option traders in india what you can actually get while trading the markets has a huge variance.

What also adds top option traders in india this are the slippages, brokerage costs and other taxes. Around the same time I also got introduced to Futures and Options and found out that I was better at intraday trading and hence most of my positions were never carried overnight.

This is what I have been following for the last couple of years and it has been doing well for me. Most of my trades are option trades and hence along with looking at technical charts, I also started mixing it with a strategy based on open interest, implied volatility and option prices. Basically the strategy using the data predicts which side of the option is skewed to move up, either calls or puts and top option traders in india the strike price best positioned for this.

Since the strategy revolves around spotting traps or option skews as mentioned above, typically most of the trades would be counter trend trades. I personally top option traders in india that being long options really works well for such a counter trend system. There are some gut based trades, but I mostly stick with trades given by the system that I follow.

But the critical thing is to accept that we as humans can make mistakes and can get carried away, so it is best to keep only that much money in your trading account that you can afford to lose, especially when trading in options.

When you hold options overnight, the time decay happens faster and if you trade in-the-money options, the absolute return when you are right on your trades is not much. Also one of the things that I avoid as an option buyer is to top option traders in india, that is add to existing open option positions as and when it goes in my favor.

When you buy options you are fighting time, volatility and price moves, so I personally never liked pyramiding and always lost when I did. There are times when I do carryover options, but I reduce the size significantly. Also the option position carry forwarded is not because it has made a loss, so let us hold it to the next day top option traders in india that it recovers. It is mainly because the gut sometime says that there is more in the trade left to play out. Out of the money options only?

That is very high leverage, are there any money management rules? Leverage is a double edged sword, but a very important part of the business. One book which was an eye opener for me was on Position Sizing by Van Tharp. In terms of how much trading capital, I follow a unique strategy. I come up with an assumptive trading size for my account based on my risk appetite, assume this is 10 lakhs.

But as and when there is profit added to this Rs 1. Usually I will withdraw profits from the trading account if the account size reaches between 2 to 3lks to bring it back to 1. Today I can afford to take this risk having a cushion of a full time job; I might change this strategy by a small bit if I were trading top option traders in india time.

My trading activity picks up quite a bit as and when the market approaches expiry and is mostly in Nifty options because of the higher liquidity. It is very important to not treat top option traders in india as lottery money and spend it. I look at it as a normal income and use it to supplement my financial goals.

There is no system that can guarantee you return, in the last 1. It is important to understand this and hence manage your risk accordingly.

Trading is like a profession, people take it lightly especially because of the low entry barrier. To be able to reach that assumptive trading size where I can quit my job and become a full time trader.

Thanks, Rajesh, for the insights and hopefully your good run in the current day challenge continues and be able to trade full time soon. Love playing poker, basketball, and guitar. Thanks Zerodha for sharing this ….

It contains Lots of Value and very helpful for the people who are there in this market…. Congrats and Thanks for sharing your thoughts Rajesh!!! Wish you all the best for your future plans. Because of his natural talent he is gonna achieve greatness.

I see him as a teacher. You say correctly that Full Time job is a blessing in a disguise. But how you are able to do Day Trading with FT job? How you are able to manage daily screen time required for day trader along with FT job?

How about charts-on mobile? Most of the time, the major moves happen within the first one hour of market open and again in the last one hour. Being top option traders in india software industry where you have flexible timing helps a lot here and the top option traders in india is still long after market hours! For tracking other parameters on the OI and IV skew, I use the system built inside my website tripleint. An iitan is paid atleast 30 lakhs per annum sal. He does it because he has the potential.

He gets satisfaction from it. Why top option traders in india you play chess? I am retired aged 61, earning a pension. And i trade options. Because i am not yet brain dead. Money is not always the main motive. Wish you all the best for your future trading plans. I hope this article is very inspiring for all of us! My problem is getting uninterrupted internet connectivity and reliable tick by top option traders in india charts for intraday trading.

I am based in Mumbai western suburbs. I use the live proprietary system developed to track OI and IV skew defined in my website tripleint. Most of the analysis is based on EOD charts, levels, traps and research is to select the right day for placing the trades.

During the day the live Option system and price levels are used for timing the entries. Thanks to Zerodha for publishing my interview!!!

For people who have been asking details on the option trading system and methodology, please visit my website at tripleint. Thanks again for all the likes, shares and encouraging words!!! I almost have similar background as yours IIT, M.

I am interested in building a trading system. Can you throw some light on how to proceed. Did you build your own trading system? Is top option traders in india a mechanical way using which you search for traps? Will be very grateful of you can share your technique. Rahul — For traps, not using a mechanical way of finding it out and I have explained the details in my blog http: Under Categories you can find articles for bull and bear traps. Please find some scholarly articles at http: Each have their own advantage and disadvantage as has been explained.

The articles might help you to understand how each of the parameters of OI, IV and direction decides the option price and you can then decide on which strike suits best for what you are looking for.

Best wishes to you! Mr Shirish — Thanks for your message! Expecting a return of risk free rate top option traders in india far too less to consider for any business and to maximize that we use the power of leverage. Trading is to be considered more of a business and to begin with, one needs to start off only with the capital one can afford to lose.

In all probability there will be multiple times when one goes bankrupt in the trading account and it is continuous learning and perseverance and might take a few years before one could zero-in on the strategy and markets that one would be trading profitably.

Derivatives as a product itself is designed to factor in leverage and so handling risk: Being a personal trading account, one would not want to reveal the absolute value and that is the reason why returns are talked in terms of percentages.

I have been trading from past 1. I always end up losing money just because of these traps. The most common mistake i always do is i carry my position overnight, that has killed my account literally.

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The volume traded on the options trading markets of the NSE is in a stage of constant growth as the foreign and institutional investors considers the Indian stock market as one of the best options due to the growth potential and the past market returns.

But the options markets are often overlooked by the investors because of high transaction costs incurred while trading options. The margin of earning on day trading the options contract is hurt by the brokerage fees.

But, there are other cheaper option trading companies you can consider. The rankings are made after considering various factors such as account opening costs, Annual Maintenance Cost AMC , per transaction trading costs, etc. Wisdom Capital can be considered as the best possible choice to trade options. You can open your account for a free of cost, and it can also be done within 2 minutes. Wisdom Capital charges zero rupees as the brokerage for every trade we make.

There is no Annual cost involved as well The company also offers various offers regarding Margin exposure levels. This customer centric approach and the lowest brokerage charges in the NSE options trading policy of wisdom capital makes it no.

Wisdom capital won the NSDL awards for the best discount rate broker for the years , , and Zerodha was started in by Nithin Kamath. Zerodha offers one of the lowest brokerage charges in NSE options trading.

At Zerodha, you can open your account at the cost of Rupees , and the account opening can be done within 2 minutes. Zerodha charges a minimum 01 20 rupees per trade or 0. Zerodha is one of the rapidly growing firms in the market as more than 2. Upstox was first started in Upstox uses a similar strategy like Zerodha. At Upstox, you can open your trading account at the cost of Rs.

Upstox provides the first five trades in a month at a free of cost and then it charges a 20 rupees per every trade you make. Upstox also offers Upstox pro service, where you can avail mobile trading platform with various tools such as technical analysis, option chain, and options strategies, etc.

Upstox offers its services at one of the lowest brokerage charges in NSE options trading and the technological tools that supports it. At Samco, you can open your options trading account just for a cost of Rs.

The process is very simple, and it can be done within 2 minutes. As the AMC, you have to pay Rs. The also have the support of all the necessary investment decision making technology. At SAS online, the account opening charges are just around Rs. The brokerage charges only Rs. And as the AMC, they charge Rs. SAS online has made a sizeable investment in the past few years to enrich the user experience.

Tradejini is another Bangalore-based trading company started 4 years before. You can open your options trading account just for a cost of Rs. After a simple and quick process, you can open your trading account by providing all the necessary details in the application. The AMC for your account is Rs. Trade smart online, provides charges of third lowest brokerage charges in NSE options trading in the list.

The brokerage charge per transaction is Rs. As the Annual maintenance cost, you have to pay Rs. Tradeplus online specialized in options and commodity trading. At TradePlus Online, you can open your options trading account just for a cost of Rs.

And for you can place your orders and trade for just Rs. It won the NSDL star performer award in With a wide range of tools and tech at their disposal, Tradeplus online provides one of the premium services in the entire market. My value trade is responsible for Rs. At My Value trade, you can open your options trading account just for a cost of Rs. My Value trade charges Rs.

And there is also AMC, you have to pay Rs. The trading platform of 5 Paisa is a mobile-first platform, which mainly focuses on trading with the App. At 5 paisa, you can open your options trading account for Rs.

As the maintenance cost, you have to pay Rs.