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Our previous video showed you how professional traders trade in the market, with their large setups and complex strategies. But, that doesn't mean that Retail traders who cannot afford such setups cannot make money in the market. Today we have Mr Chetan Panchamia, a Retail Trader who has been making consistent profits in the market for the last 17 years. His journey wasn't easy, but constant learning and strict money management have led him to his trading success.
Here is what he has to say about his trading style: The market is an Ocean; you first need to dip your feet to know the depth before you dive into it. Start your journey into the markets by working as an analyst or an intern, and learn which trading style suits you best. After that, you can decide whether you wish to do it full-time. Mr Chetan is an event-based trader. He waits for events that trigger the price movement in the market and then takes positions for 2-3 days. When there are no events, he waits patiently for the price to indicate the movement of the market
According to Mr Chetan - The News that has already been announced is discounted in price. There is no point in taking a trading decision based on them. But, the News that will be announced in the near future is reflected in the price. Base your trading decisions on them. You do not need a high-end market set up for trading. Keep your research and trading separate. Do your homework. Know your charting. Charts will tell you where all the buying and selling is happening and also Learn basic technical analysis.
Your ultimate power as a trader is your Entry price. Enter into your trade where your Risk-Reward ratio is very favourable. Cut your losses and let your profits run partially. Watch the full video to know all the important points that he has to say about his trading style.