Mr. Chetan Panchamia has the experience of being 17 years in the markets starting from front office to fundamentals research before moving to the technical side and specializing in options trading and is presently a full-time Professional trader focusing on index options. He has written various articles for Moneycontrol.com and has given lectures in various institutes like IIFT and St. Xavier's College. Chetan’s underline philosophy is, "Markets are like life, vibrant and keeps your success and failure grounded". Data analyzing can be the greatest asset of any trader or investor which is an art as well as a science that can be developed through the right training.
IN CONVERSATION WITH
Mr. Vivek Bajaj
The passion for data, analytics and technology is what makes Vivek Bajaj a financial market survivor. The journey as a market participant started in 2002 when the first trade was executed in the options contract of ITC. Life was simpler and easier during that time. Since then technology and Big data have taken over totally. As an early adapter to the complex tools, Kredent was formed to capitalise on the opportunities. He is co-founder of StockEdge and is committed to bring simplicity in the complex world of market data. He is a Chartered Accountant, Company Secretary and an MBA from IIM Indore. He is a part of various committees of exchanges and regulator and he has been an active contributor in the evolution of Indian Derivatives Market.
About this Face2Face:
Face2Face with a REAL Trader during LIVE Market!
Watch Vivek Bajaj interacting with an experienced real trader during Live Market.
Attend Chetan Panchamia's Workshop on Trading strategies: https://www.elearnmarkets.com/workshops/
In our previous video (Retail Vs Professional Trader: https://youtu.be/rw3hhFqmDD4 ), we 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 leaning and strict money management have led him to his trading success. Here is what he has to say about his trading style:
1. 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, get to know which style of trading suits you best. After that, you can decide whether you wish to do it full time.
2. 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
3. The News that has already been announced is discounted into the price. There is no point in taking the trading decision based on them. But, the News that will be announced in the near future is reflected into the price. Base your trading decisions on them.
4. You do not need a high-end market set up for trading. Keep your research and trading separate. Do your homework.
5. Know your charting. Charts will tell you where all the buying and selling is happening. Learn basic technical analysis.
6. Your ultimate power as a trader is your Entry price. Enter into your trade where your Risk-Reward ratio is very favorable. 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.