90% of options traders lose money in their first year. The difference between the 10% who succeed and the 90% who fail? Practice.
This 30-day paper trading plan is designed specifically for options traders in India. Whether you're learning Nifty options, Bank Nifty strategies, or just want to understand Call and Put options before risking real money—this plan will get you there.
🎯 What You'll Achieve in 30 Days:
- ✅ Understand Call & Put options deeply
- ✅ Master 5 proven options strategies
- ✅ Build risk management discipline
- ✅ Complete 50+ paper trades with AI feedback
- ✅ Know when you're ready for real money
Before starting, make sure you've set up a paper trading account. If you haven't yet, read our complete paper trading guide first.
Why 30 Days is the Perfect Duration
You might be tempted to rush through paper trading or skip it entirely. Don't.
Too Short (< 2 weeks)
Not enough market exposure, can't test strategies across different conditions
Perfect (30 days)
Enough time to learn, practice, make mistakes, and develop discipline
Too Long (> 3 months)
Risk developing bad habits, over-confidence without real skin in the game
30 days gives you: ~20 trading sessions, exposure to different market conditions (trending, ranging, volatile), time to test multiple strategies, and enough repetition to build muscle memory.
Week 1 Foundation & Setup
Goals:
- ✓ Understand options basics (Call vs Put)
- ✓ Learn platform mechanics
- ✓ Place your first 5 trades
- ✓ Focus on execution, not P&L
Day 1-2: Options Fundamentals
Day 1 Tasks:
- Read: What are Call and Put options (use our beginner guide)
- Understand: Strike price, expiry, premium
- Watch: Live Nifty options premium movement for 30 minutes
- Practice: Add 10 options to your watchlist (5 CE + 5 PE)
Day 2 Tasks:
- Learn: ATM, ITM, OTM concepts
- Practice: Identify ATM strike for Nifty 50
- Place 1st Trade: Buy 1 lot ATM Call option (any expiry)
- Hold: Don't exit yet—just watch how premium moves
Day 3-5: First Trades
Your First 5 Trades:
Trade 1: Buy ATM Call
Goal: See how Call premium increases when Nifty rises
Trade 2: Buy ATM Put
Goal: See how Put premium increases when Nifty falls
Trade 3: Buy OTM Call (50 points above)
Goal: Understand leverage and risk
Trade 4: Sell (Exit) Trade 1
Goal: Complete your first full trade cycle
Trade 5: Buy Bank Nifty option
Goal: Compare Nifty vs Bank Nifty behavior
⚠️ Week 1 Rule:
Don't worry about profit/loss. Focus on learning how options behave. You'll lose money this week—that's the point!
Day 6-7: Review & Analysis
End of week tasks:
- • Review all 5 trades (use AI analysis if available)
- • Understand why each trade won/lost
- • Journal key learnings
- • Identify patterns in your decision-making
Start Your 30-Day Journey Today
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🚀 Start Free Paper TradingWeek 2 Directional Trading (Call & Put Strategies)
Goals:
- ✓ Learn when to buy Calls vs Puts
- ✓ Practice trend identification
- ✓ Complete 10-15 trades
- ✓ Start focusing on win rate
Day 8-10: Bullish Strategies (Calls)
When to Buy Call Options:
- ✓ Nifty breaks above resistance
- ✓ Strong buying momentum (green candles)
- ✓ VIX is low (less premium decay)
- ✓ Before 11 AM (avoid last hour volatility)
Practice Trades (Day 8-10):
Complete 5 Call option trades:
- Buy ATM Call when Nifty is trending up
- Buy slightly OTM Call (next strike) for better R:R
- Hold through a pullback (learn patience)
- Exit at target (2x entry premium or +50 points move)
- Try Bank Nifty Call (compare behavior vs Nifty)
Day 11-13: Bearish Strategies (Puts)
When to Buy Put Options:
- ✓ Nifty breaks below support
- ✓ Strong selling pressure (red candles)
- ✓ VIX spikes (panic selling)
- ✓ During first 90 minutes (maximum movement)
Practice Trades (Day 11-13):
Complete 5-7 Put option trades:
- Buy ATM Put when Nifty is trending down
- Buy Put during sharp intraday fall
- Practice stop-loss (exit if goes against you)
- Hold a winning Put trade (let profits run)
- Try weekly vs monthly expiry (compare theta decay)
Day 14: Week 2 Review
Reflection Questions:
- ❓ What's my win rate on Call vs Put trades?
- ❓ Which time of day am I most profitable?
- ❓ Am I exiting too early or holding too long?
- ❓ What's my average profit vs average loss?
Week 3 Risk Management & Position Sizing
This is the most important week. You'll learn the difference between gambling and trading.
The 2% Rule
Never risk more than 2% of your capital per trade.
Capital: ₹1,00,000
Max risk per trade: ₹2,000 (2%)
If buying option at ₹100:
Max quantity: 20 qty (₹2,000 / ₹100)
// If 1 lot = 50, you can buy 0 lots (under 1 lot)
// This forces you to wait for better prices!
Day 15-17: Risk Management Drills
Drill 1: Stop Loss Practice
Take 5 trades with strict 20% stop-loss. Exit immediately when hit.
Goal: Build discipline, no emotional holds
Drill 2: Position Sizing
Calculate position size before EVERY trade using 2% rule
Goal: Never over-leverage, even in paper trading
Drill 3: Max Loss Per Day
Set daily loss limit: ₹5,000. Stop trading if hit.
Goal: Prevent revenge trading
Day 21: Week 3 Review
Critical Question:
Am I following my stop-loss 100% of the time?
If NO → Repeat Week 3. This discipline will save you lakhs in real trading.
Week 4 Advanced Strategies & Mastery
You've learned the basics. Now it's time to put it all together with advanced strategies.
Day 22-24: Spread Strategies
Bull Call Spread
Buy ATM Call, Sell OTM Call (next strike)
✓ Reduces cost
✓ Limits risk
✓ Best in moderate bullish market
Bear Put Spread
Buy ATM Put, Sell OTM Put (lower strike)
✓ Reduces cost
✓ Defined risk
✓ Best in moderate bearish market
Day 30: Final Assessment
Review Your 30-Day Journey:
- 📊 Total trades: ___ (target: 40-50)
- 📈 Win rate: ___% (target: >45%)
- 💰 Net P&L: ₹___ (target: positive)
- 🎯 Best strategy: ___
- ⚠️ Worst mistake: ___
- ✅ Key learning: ___
Your Daily Trading Routine
Pre-Market (8:00 AM - 9:15 AM)
- ☀️ Check global markets (US, Asia overnight moves)
- 📰 Read financial news (ET, Moneycontrol)
- 📊 Check Nifty pre-open (9:00-9:15 AM)
- 📝 Plan 1-2 potential trades for the day
Market Open (9:15 AM - 10:30 AM)
- 🎯 Execute planned trades (max 2 per day)
- ⏰ Best time for entries (liquidity high)
- 📉 Watch first 15-min candle (sets tone)
- 🚫 Avoid impulsive trades
Post-Market (3:30 PM - 4:00 PM)
- 📝 Journal all trades (entry, exit, reason, emotion)
- 🤖 Run AI analysis on completed trades
- 📈 Review P&L and mistakes
- 📚 Plan for tomorrow
How to Track Your Progress
Essential Metrics to Track:
| Metric | Target (30 Days) | Why It Matters |
|---|---|---|
| Total Trades | 40-50 | Enough data to identify patterns |
| Win Rate | > 45% | Minimum for profitability |
| Risk:Reward | > 1:1.5 | Winners must be bigger than losers |
| Max Drawdown | < 15% | Risk management working |
Graduation Checklist: Are You Ready for Real Money?
After 30 days, evaluate yourself honestly. Don't rush. An extra week of practice can save you lakhs.
✅ You're Ready If:
- ✓ Last 20 trades are net profitable
- ✓ Win rate consistently above 45%
- ✓ Following stop-loss 100% of the time
- ✓ Position sizing is automatic
- ✓ Have a written trading plan
- ✓ Can explain WHY you took each trade
- ✓ Lost money some days but didn't revenge trade
- ✓ Understand Greeks (Delta, Theta at minimum)
If you checked 7+ → You're ready! Start with TINY size (1 lot max)
❌ NOT Ready If:
- ⚠️ Still losing money consistently
- ⚠️ Breaking your own rules
- ⚠️ Overtrading (>5 trades per day)
- ⚠️ Can't explain your edge/strategy
- ⚠️ Trading based on tips/signals
If any apply → Continue paper trading for 2 more weeks
Ready to Start Your 30-Day Journey?
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