The workshop at Chennai was a wonderful experience as the interaction by the participants was excellent.

The session began with introductions and then we started with OPTION BUYING.

How options can be traded profitably through BUYING was explained and demonstrated through a number of examples, both past and present.

Selection of the stocks, strike prices and exit strategies were also explained.

There was lively discussion on methods of stock selection for trading the main theme being that it could be done without any charts or indicators and done successfully. For his, I had to just repeat my earlier post here:

The article is likely to become a long series, please keep reading.

After lunch session was about strategies.

Importance of strategies and their implementation was discussed with real examples.

After basic explanations, loss prevention strategies designed for consistent profit through NIFTY options as well as with Hedged Futures were explained.

This part of the program was very well received by the participants.

In the end there was a Q&A session and some informal chit chat.

I express my thanks to all the participants for their commitment towards learning.

On review of the feedback, it was seen that two of the participants had following grievances:

(1) One of them had written that if Option Selling did not work out for me , it did not mean that it can not be profitable. There should have been more stress on Option Selling for making profit also.

My response: It was clearly mentioned in the program details that the main focus would be on trading profitably through Option Buying. I would be going against the intended theme of the program by laying by talking more about Option Selling.

There are a huge number of books which tell us that Option Selling has higher probability of being profitable. But we know that in reality one single loss takes away all those small profits.

In the strategies session, due importance was given to Option selling. In fact I had made a statement that I was a different person in the morning session and for the current session, Option sellers were the nice guys who make money regularly.

I hope this clarifies.

(2 ) One participant was disappointed that Technical Analysis was not given due importance and nothing was explained based on Technical Analysis and Charts.

My response : Right in the beginning I had explained that aim of the trades is to bring in profit. We are not here to study mathematics or science. In my Quora posts and elsewhere, I have always maintained that Technicals do not work all the time. Technical Analysis is not a pure science, it is all empirical.

I do not believe in that so can not teach and preach it.

One can very well trade profitably without getting bogged down by too much analysis.

I know this explanation would not appeal to those who swear by the charts and indicators but I do not believe that those are the essentials for trading. My motto is Keep It Simple.

Overall, a very satisfying program.

Once again my thanks to all who participated and made it a success.

Next Program : MUMBAI— March 18, 2018.