How to Avoid Losing Money in Options Trading? Master Risk Management with Shijumon Antony

In this video, Mr. Shijumon Antony will help us explore essential trading strategies and instincts with insights on probabilistic thinking, risk management, technical analysis, and developing the 'trader's gut' for successful, disciplined, and intuitive trading decisions. Shijumon Antony shares his options trading strategy involving buying deep in the money call options and selling far out of the money options to manage risk during uncertain market conditions. He discusses his cautious approach to taking short positions, emphasizing waiting for strong reasons and conviction, such as a nifty break of the prior swing low.

Additionally, Antony highlights his appreciation for Elliott wave theory and the importance of understanding market patterns despite not specifically coding Fibonacci levels. He recommends trading psychology-focused books and audiobooks for continuous learning, reflecting his preference due to a busy schedule.

Shijumon Antony discusses his views on Elliott wave theory and how he appreciates the concept and characteristics of each wave, such as the emerging bull market and the behavior of wave 5. Despite not coding specific Fibonacci levels, he acknowledges the value of understanding the theory for identifying market patterns.

He also shares book recommendations for traders, highlighting titles like "Technical Analysis for Fundamental Market" by John J. Murphy, "Reminiscences of a Stock Operator," and "Best Loser Wins" by Tom Hoogard, emphasizing the importance of trading psychology and learning from experienced traders. Antony explains his preference for audiobooks due to his busy schedule balancing full-time work and trading, allowing him to continuously learn and grow in the trading industry.