u are probably the fastest to mature into a good trader..kudos to ur 'mentors' and u too.. I have one question.. when u say that u take one position on an 'extreme'.. how do u define these 'extremes'?
I tell before that I try to sold the costly option. I check the Implaid volatilty of option price and note it regularlly. So when there is a big moment down or up in the nifty index. I check the implaid volatilty of the option again, so if nifty index go up fast I check the IV of CE and if the IV has also raise from the note number then I think it is cosly. So I can sell CE option first. Also I see the chart of the nifty index and see the BB band all the timings. So if the nifty index go near the BB band range than I think it is the extreme leval and the nifty index will go down or not raise from there for some time and then I can do sell PE option.
I do smae thing when the nifty index go down side fast, sell the PE option first and then sell CE option after some times.
I need to work on two things, one, not to see the world market and hence have a bias when I come to trading and the other is to get into the trade as soon as I see the first five min candle. Screwed it today.