How does a 22-year-old Techie makes Trading Profits?

In our video of Face2Face Emerge, we have our rocking host Mr. Vivek Bajaj, co-founder of StockEdge and Elearnmarkets, in conversation with Mr. Arpit Goel. He will take you through the chart patterns and the trading strategies that he has learned and applied in his trading journey since college. This video will teach you about positional trading and how the correct step taken can help you gain profits. 

Through a dedicated Twitter feed, Arpit learned about the importance of chart patterns and was introduced to them. After learning about their success and simplicity in backtesting, he devised and improved his chart pattern method. He'll concentrate on the versatile inverted head and shoulders chart pattern, which can be used for reversal and continuation scenarios over various timeframes. Further he explains the mechanics of inverted head and shoulders pattern, where he advises using the weekly timeframe for backtesting when using the inverted head and shoulders pattern. As an additional tool, he uses a 200-day moving average. Before initiating a position, traders should determine the pattern structure and confirm a breakout.

In order to control risk, Arpit emphasizes the significance of setting stop loss and target levels. He suggests using a trailing method and setting the stop loss at the weekly swing low to avoid premature closure. Effective trading requires giving priority to high-calibre setups with favourable risk-to-reward ratios. Its usage, importance, and practical demonstration are a major part of this video, and it should not be missed out. Using actual examples from the stock market, such as IDBI and HFCL, Arpit illustrates how to identify head and shoulders patterns and track their price changes. For maximizing profitability, he strongly emphasizes patience, risk management, and defining appropriate goals.

Learn how chart patterns, such as head and shoulders patterns, can improve your trading choices and offer perceptions of market trends by watching this video. The experience of Mr. Arpit Goyal and real-world examples show how effective it is to use chart patterns in trading strategies.