In this video of the Face2Face series, watch a candid conversation between Mr. Vivek Bajaj, co-founder, StockEdge, Elearnmarkets, and Mr. Deepak Thakran, an IT professional who uses his knowledge to practice technical analysis to make profitable trades. We will first discuss Mr. Thakran's background and the events that have led him to become a trader in the stock market. Mr. Deepak Thakran will also discuss the events that led to him choosing the style of intraday trading in the stock market and how he learned the importance of stop loss and risk control.
We will then start our detailed conceptual discussion with the kind of infrastructure and system that is most relevant to a full-time trader, which Mr. Deepak Thakran will explain with his own setup. He will also explain the importance of having a functioning desktop instead of a laptop for a fully efficient trading setup.Technical indicators are frequently used by traders to assess market conditions and produce trading signals. They can cross-reference the signals produced by various indicators by using multiple charts, which will improve accuracy and decrease false signals. If indicators appear to line up across several charts, the analysis is more convincing.
He will also touch upon the importance of using multiple charts for trading decisions and will then discuss the entire process of how he uses his setup to make his trades. Next, we will move to some trading strategies and techniques discussed by Mr. Deepak Thakran, with real-life examples and charts. Mr. Deepak Thakran will also discuss how he identifies stocks for making his trades by explaining an analysis behind one of his own trades.
Multiple charts offer various viewpoints on the market, enabling traders to evaluate a situation from different angles. The trend, volatility, and mood of the market can all be thoroughly understood by traders by examining various timeframes, such as daily, weekly, or monthly charts. Next, he will also discuss how he screens stocks at the end of the trading day so that traders can ready their trades for the next day.