Sharing Some Learnings as a Beginner Trader

Some of my Trading related Learnings! I am not a Teacher. I am a Student and a Beginner Trader.

Don’t forget to authorize gtt at START of trading session or else stop loss won’t trigger! Don’t forget this! Do this now if you haven’t yet.
Wakeup by 7:30am and get ready for trading work by 8:15am. Spend 45 mins on preparations before trading starts for the day. This should help to get ready in a better way for observing, understanding and taking the trades. Be energized before trading starts with proper food and rest.
Trading on “gut feeling” will result in “hard punch to the gut”. Have a technical reason for taking a trade or don’t take that trade. More trades will come for years and decades ahead. Don’t make losses due to not having a technical reason before taking a trade. If there is a loss after having a technical reason then you can at least try to improve your technical understanding.
Know the levels and trade according to them only. Skip the trades otherwise.
Don’t get into the fear of missing out. More trades will keep coming.
Have at least some proper stop loss set for every trade.
Don’t get greedy. Book profit as planned.
If stop loss is hitting one after another then stop taking trades and do paper trading until you see you are taking profitable trades again for a while.
Avoid all distractions when trading because when the right trades come, you could be doing something else and lose that trade or could make mistake in setting limit, stop loss or trigger price.
Trade with 1 lot for some months and if in net profit then can add 1 more lot for some more months and if still in net profit then can trade with more lots as suitable.
People take several years to become an engineer / doctor and so becoming an ok trader can possibly take some years as well. Focus on learning and accept that there will be losses but minimize them with 1-2 lots and proper stop loss.
Think and know the reasons for every loss trade. Was it not trading at the levels or the fear of missing out or becoming greedy or following the market “news” or wrong analysis or any other reason.
Moving ahead slower but with minimum losses and small but growing net profit is better than losing a lot / all of your capital. With time, you will be able to trade much better in general and then with more lots, you can make even more profits while keeping the losses relatively low.
Become an increasingly better trader by learning and working daily as a trader even if not for the entire market session depending on your other time commitments. Do it daily even if not full-time.
It is not necessary that options prices in a day will strictly move according to open interest.
Scalp generally means 2pts to 4pts.
Don’t set stop loss so small in a fast market that it gets hit even if the market is going in your understood direction.
Look at 2:55 5-min candle to see what can happen at 3pm.
When call writer is sitting then a close candle is required above for the market to go above.
Have a proper computer trading setup so that you can simultaneously see multiple charts including of put, call and index.

Sharing Some Learnings as a Beginner Trader

Don’t forget to authorize gtt at START of trading session or else stop loss won’t trigger! Don’t forget this! Do this now if you haven’t yet.

Wakeup by 7:30am and get ready for trading work by 8:15am. Spend 45 mins on preparations before trading starts for the day. This should help to get ready in a better way for observing, understanding and taking the trades. Be energized before trading starts with proper food and rest.

Know the levels and trade according to them only. Skip the trades otherwise.

Don’t get into the fear of missing out. More trades will keep coming.

Have at least some proper stop loss set for every trade.

Don’t get greedy. Book profit as planned.

If stop loss is hitting one after another then stop taking trades and do paper trading until you see you are taking profitable trades again for a while.

Avoid all distractions when trading because when the right trades come, you could be doing something else and lose that trade or could make mistake in setting limit, stop loss or trigger price.

Trade with 1 lot for some months and if in net profit then can add 1 more lot for some more months and if still in net profit then can trade with more lots as suitable.

People take several years to become an engineer / doctor and so becoming an ok trader can possibly take some years as well. Focus on learning and accept that there will be losses but minimize them with 1-2 lots and proper stop loss.

Think and know the reasons for every loss trade. Was it not trading at the levels or the fear of missing out or becoming greedy or following the market “news” or wrong analysis or any other reason.

Moving ahead slower but with minimum losses and small but growing net profit is better than losing a lot / all of your capital. With time, you will be able to trade much better in general and then with more lots, you can make even more profits while keeping the losses relatively low.

Become an increasingly better trader by learning and working daily as a trader even if not for the entire market session depending on your other time commitments. Do it daily even if not full-time.

It is not necessary that options prices in a day will strictly move according to open interest.

Scalp generally means 2pts to 4pts.

Don’t set stop loss so small in a fast market that it gets hit even if the market is going in your understood direction.

Look at 2:55 5-min candle to see what can happen at 3pm.

When call writer is sitting then a close candle is required above for the market to go above.

Have a proper computer trading setup so that you can simultaneously see multiple charts including of put, call and index.

Above are my some thoughts as a beginner Options Trader. I read this daily before start trading.