Looking for a mentor in option trading

[oldtrader]

i think it is worth paying 5k for Dilip shaw's course. pretty good for beginners with little knowledge about options trading and he will guide you for one year. i am also new to option trading. learnt everything about options from zerodha varsity and other websites. now planning to take his course for an in depth knowledge and understanding of options trading. paying a min 5k/month, even 1 lakh plus to greedy stock tips advisers and top rated advisers is simply not worth and absolute waste of money. from other sources i found out he is seasoned trader he is helping us understand and his service is there for one year. information that you acquire from a derivative strategy book are basic and someone guiding you based on real time market data, the strategies to adopt for a whole year is kind of second step to improve our skill and gain confidence. all the best. :thumb::thumb:

It is not worth the time and money spent. He is claiming average 3% per month returns, say around 36% per year. What I got in the backtesting was around 8% per year. How can u take guidance from a guy who is straight forward lying about the facts.

 

[gemat]

oldtrader, backtesting is not worth anything. past performance does not truely reflect future performance. if you adopt a hedging strategy and you regularly monitor the market which i do, you control your losses by keeping the stoploss 1 or 2% with limited profit target. all i am saying is don't rely on backtesting. i am joining his course for educational purpose only for a better understanding about the strategies, which strategy and when to use it.

 

[oldtrader]

oldtrader, backtesting is not worth anything. past performance does not truely reflect future performance. if you adopt a hedging strategy and you regularly monitor the market which i do, you control your losses by keeping the stoploss 1 or 2% with limited profit target. all i am saying is don't rely on backtesting. i am joining his course for educational purpose only for a better understanding about the strategies, which strategy and when to use it.

It is upto you , if you want to disregard backtesting results and join the course. The course is nothing but a set of iron condor strategies, with unrealistic targets. There is nothing to gain from the course except waste of time. I dont know how SEBI allows such guys to operate.

 

[lemondew]

Is this course about selling iron condors and leave it till expiry ??

Bought the course material. Yes, it is good on the face of it. Still I am working on it and have many clarifications. I have sent the list of queries to Dilip. The quality of the course will be based on how he would provide practical answers to those questions. I am waiting for his reply. Before I write in a general forum, I should have complete idea about it. I should not be misguiding someone. Once I experience the course completely I will write about it in the forum. It is premature to judge, because the ‘After sales service’ is what decides the quality

 

[gogs1973]

bought the course material. Yes, it is good on the face of it. Still i am working on it and have many clarifications. I have sent the list of queries to dilip. The quality of the course will be based on how he would provide practical answers to those questions. I am waiting for his reply. Before i write in a general forum, i should have complete idea about it. I should not be misguiding someone. Once i experience the course completely i will write about it in the forum. It is premature to judge, because the ‘after sales service’ is what decides the quality.

hi dear

can u share your experience of dilip shaw.can u please share your views.

Ashish

 

[gogs1973]

after using dilip's course here are my views about it. These are my personal experience about the course and they need not apply for each and every individual.
I did not have much knowledge in options when i bought dilip's course. I did not know the greeks and its implications. I learnt all that from traderji and zerodha varsity later. Then only i was able to understand the contents of the course. That course is just a start and we need to put a lot of effort to understand that and implement it. The idea is workable, it depends on how we execute it. I back tested it and the results were fair. I used it with combination of ta. Just blindly following the strategy as it is may not be profitable, may be it can break even. We have to get the idea and work upon it and create our own strategy. Now my effort is towards that only i am picking up ideas from the courses and creating my own method. It really helps that way.

For experienced option traders who are already versed in strategies there is nothing much for them in the course. It explains a practical application of an existing option strategy with clear example.

Let me know if this helps.

hi sir

can u please share dilip shaw strategies.

 

[oldtrader]

Is this course about selling iron condors and leave it till expiry ??

The guy is suggesting selling iron condors, and wait till you get around 40% returns or SL is hit. And if SL is hit he suggests selling double the quantity of options in the opposite direction. Assuming that since Nifty has run quite a long in one direction, it has to reverse the direction. Very Absurd.

 

[lemondew]

This isnt clear. Many people suggest the following

Assuming nifty is 8000. Sell a condor
7800-7700 and 8200-8300

Assuming nifty test 7700 by going down we are told to book profits at 8200-8300 and sell further closer in at 7900-8000 or 8000-8100.

Thats the norm... I didnt quite understant what you meant by opposite direction.

But many reports suggest even when market goes below 7700 50% of times it comes back and our condor expires OTM. So many people suggest to just take the position and do no adjustments and run it till it reaches our profit targets or take the losses. But they dont recomment to wait till expiry.

The guy is suggesting selling iron condors, and wait till you get around 40% returns or SL is hit. And if SL is hit he suggests selling double the quantity of options in the opposite direction. Assuming that since Nifty has run quite a long in one direction, it has to reverse the direction. Very Absurd.

 

[oldtrader]

This isnt clear. Many people suggest the following

Assuming nifty is 8000. Sell a condor
7800-7700 and 8200-8300

Assuming nifty test 7700 by going down we are told to book profits at 8200-8300 and sell further closer in at 7900-8000 or 8000-8100.

Thats the norm... I didnt quite understant what you meant by opposite direction.

But many reports suggest even when market goes below 7700 50% of times it comes back and our condor expires OTM. So many people suggest to just take the position and do no adjustments and run it till it reaches our profit targets or take the losses. But they dont recomment to wait till expiry.

He is suggesting selling a condor of 84xx and 76xx strikes if the nifty is at 80xx. Target is 40% of cost involved and SL is around 100 pts below and above the strikes respectively. Assuming SL is hit at 84xx, you are advised to sell twice the qty of 88xx strike and keep the other side open. Again SL is kept 100 pts below the strike sold.

Most of the times both the SL`s are hit. Leaving you with around 100 pts gain at the end of the year. Is it really worth the trouble , just for 100 pts.

 

[gemat]

It is upto you , if you want to disregard backtesting results and join the course. The course is nothing but a set of iron condor strategies, with unrealistic targets. There is nothing to gain from the course except waste of time. I dont know how SEBI allows such guys to operate.

there are thousands of fraud tip advisers in India. i regularly receive 4-5 calls/week from agents giving stock tips. which i ignore. sebi have blacklisted so many top portfolio management companies including who appear on business channels. they charge 1 lakhs plus/per like Aswani Gujural was under SEBI radar.
Dilip shaw is mainly providing educational materials for better understanding of option trading. he regularly sends emails based on real time market data and factors affecting option pricing. 5k for one year service to be honest i don't mind losing. i will definitely write a review at the end of this month following his method