In our new series of Face2Face Emerge, we will bring you people in the finance industry who have a story to tell. They are young and dynamic, and prospering in this industry bringing you their experience. It will help you to take a step forward in your financial journey after looking at people who are coming from different walks of life. In this video, we have with us our rocking host Mr. Vivek Bajaj, co-founder of StockEdge and Elearnmarkets, in conversation with Dr. Gaurav Patel.
In order to strategically manage his trading activities while putting his career as a doctor first, Dr. Patel places a focus on part-time options selling. He devotes roughly 10-15 minutes per day to his trading activities because of a lack of time. If you watch the video, you will know that Dr. Patel has been using the Greeks Decay strategy and iron condor for bank nifty options writing. He shares that he has been using this strategy for more than 15 months and it has given him a positive return.
His presentation shows that he is a firm believer in trading psychology, which frames your mind and affects the end results. The loss and profit in trading depend on your mental well-being, which is covered by him in this video. He has also shared a psychological checklist. Further, he delves into the strategy which he calls the 2020 strategy where he has explained the rules for entry, and stoploss order, what to do when stoploss hit, their adjustment, the rule for expiry day, exit strategy, and many more with the help of real market data. His presentation consists of several tricks and techniques that are needed for options trading, and it is useful for traders in the industry. He also touches upon the mistakes which people generally make and shares a step-by-step approach for any strategy you follow.
Learn about part-time options selling and how you can make extra money while managing your hectic schedule by watching this video. Successful trader and doctor Dr. Patel discusses his approach so you can develop your own unique plan.