Follow these steps to check the Profit & Loss statement in Zerodha platform.

1. Login to your Zerodha Dashboard
2. Click on your User ID at the top right corner
3. Go to console
4. You will find the Reports tab in the menu section, click on it
5. Hit the P&L link from the drop-down
6. Select the category (Equity/ Future & Options/ Commodities)
7. Select the date range and enter
8. Your P&L statement for the given date will be displayed on the screen
9. Download the statement if needed

The primary factor to become a pro trader is discipline. The below are the few points that most of the professional traders follow.

1. Disciplined trading
2. Never break your rules
3. Learn everyday
4. Don’t follow anyone in the market
5. Be emotionless
6. Avoid Greedy and FOMO
7. Learn from mistakes
8. Plan your tomorrow today
9. Don’t search for holy grail strategy
10. Start with small profits

As we all know selling options involves unlimited risk and limited profits. Also it requires little high capital compared to option buying.

Coming to the option selling strategies, there are many strategies but not all the traders handle it in the same way. The same strategy can give profits to some people and losses to other.

It depends on the following factors

• How efficiently you adjust the positions when the market goes against your view
• Entry & Exit time, VIX Value

I personally use only two strategies

1. Short Strangle
2. Short Straddle

1. Short Strangle:

Short strangle is nothing but selling far “out of the money” call and put options. I generally trade in Bank Nifty. Using short strangle strategy I am earning 10 to 15 percent returns per month.

It gives consistent returns if you know how to adjust the positions when market moves one side.

However there will be 4 to 5 loss trades in a month. This is due to trending markets.

The reasons for the loss trades are as follows

1. If market moves rapidly on one side (Ex: 300 to 800 points move in 10 to 15 minutes time frame)
2. Trending market (If the daily movement of Bank Nifty crosses 600 points, I generally end up by booking loss)
3. Low VIX conditions (This issue is experiential to most of the option sellers in recent times)

The above three are the major factors behind losses, otherwise I could have earn 20 to 25 returns in a month using short strangle strategy.

2. Short Straddle:

You must need an experience ;to handle short straddle strategy. Even though it gives high returns in range bound market, it also gives huge losses when there is a sudden move.

I suggest, you must avoid short straddle strategy if you are a beginner. I use this strategy on expiry day and also on range bound market.

Some time it gives loss, but I always put my stop loss. Short Straggle strategy gives 2 to 5 percent returns in a day, if the market stays range bound through out the day.

Conclusion:

If you are a beginner, go with short strangle strategy, It gives consistent returns. If you are a pro trader, straddle gives the best returns.