Abhijit Paul B.Sc (Economics), MBA Finance
Mr. Abhijit Paul over the years has interacted with many market participants who have been greatly successful in the markets and also the people who have been struggling to survive. He has designed this course keeping in mind all positives and negatives that traders and investors had to face. He has also shared his own experiences in the markets over the years and the lessons that can be learnt from them.
The Art and Science of Trading consists of theory, practical as well as case studies of the financial markets. There are five main aspects of the course:-
First: Perfect blend of theory & practical knowledge of the art of trading Second: Tailor-made training in the field of Technical Analysis –relevant to profitable trading. Less-is-More. Third: Guide to hone the right trading psychology – the most important aspect in the field of trading. Learn to balance Mind, Money & Method. Forth: Access to free trading software Fifth: Lifelong association with a group of active traders, trainers and market participants
In the theory part, he has explained:-
- Philosophy of Technical Analysis
- Simple Tools that Work: Support Resistance, volume, open interest
- Gaps, Japanese Candlestick Charts & Heikin Ashi
- Indicators, Oscillators & Trading Template
- Use of Fibonacci in Markets
- Different Philosophies of Trading
- Use of Technical Analysis in Multiple Asset Classes
- Understand Behavioral Finance
- Money Management & Bet Sizing.
In the video he has described what are Heikin Ashi Candlesticks and how they are different and better than traditional candlesticks. They present a combo candlestick by combining the average of the previous candles. They can be used to identify trends and reversals. The lack of wicks in the candles represent strong uptrends or downtrends. The presence of Dojis present a reversal taking place.
The parameters of stochastics has also been presented in the video. It is a widely used and also misused indicator. It is a momentum indicator which indicates if the stock is overbought or oversold. It also comes with a part called %K and %D. The parameter of 14/3/3 is widely used in stochastics.
Divergences of Stochastics are mostly of two types: Positive and Negative. In a positive divergence the price is making a lower low while the stochastics is making a higher low. The opposite of this takes place in case of negative divergence. There is another concept of divergences which is called the hidden divergence. In this, if there is a strong trend and the trader wants to take a position, the identification of the hidden divergence helps the trader to identify where to enter the trend and move on in the same direction of the trend. It is mostly used for swing trades. Such trades have a very high risk reward ratio. Hidden divergences can also positive as well as negative.
In practical sessions of Art and Science of Trading, demo versions of Spider IRIS Plus will be provided and mock trading sessions will be conducted for the interns. The platform of Netdania has also been shown. It shows price data and many other information on a global scale. It is an online platform and is free for everyone. It helps to track multiple instruments at the same time.
Trailing of stop-loss has been discussed in the practical session and the various methods with which the levels have to be selected. Divergences have also been discussed in the practical session. Hidden divergence can be used in identifying swing trades while pure divergence are used to identify contrarian trades. The Relative Strength Index (RSI) index, has also been discussed in detail in the video. The overbought and oversold regions can be optimised to take better decisions.
The psychological aspect of a trader is one of the most important part of this course. The reason why only 8-10% of the traders are actually profitable is because they have the right mind set of a trader. In this course few important aspects are discussed - the amount of risk a trader can take, how to handle stress, the right attitude and being disciplined about placing stops and booking profits as well as losses. Money management is also a very important in trading. No matter how good a trader is, or how good his analysis is, without proper money management, he cannot survive the markets.
The whole video is a sneak peek into how the Art and Science of Trading course is shaped and constituted.
What to Learn:
Abhijit Paul who heads the knowledge vertical at elearnmarkets.com, which is the online educational venture of Kredent Academy in Kolkata conducts Art & Science of Trading. This course is a perfect blend of theoretical knowledge & practical expertise of the art of trading.
Who is it suitable for:
Art & Science of Trading is useful for fresher’s who are new to the market and would like to get introduced to the basic market terminologies and concepts and start a new career in the world of capital markets. New Investors, Retail Traders, Brokers and Sub brokers, Financial Service Professionals shall also benefit from this course as it shall enhance their knowledge base, understand market dynamics of demand and supply and help to predict future price movements.
Technical analysis is a very vast subject and to gain a complete understanding of it have a look at our bestselling course Art and Science of Trading. For more choice of technical course, view our entire range of technical analysis courses.