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In this Face2Face video, watch Mr. Vivek Bajaj interacting with Mr. Jay Chandran, popularly known as the NiftyWizard, the famous @NiftyWizard from Twitter. Mr. Jay Chandran uses a market profile charting system to understand how the buyers and sellers of the market are behaving and takes trades accordingly. His trading frequency also varies from time to time according to his strategies.
Mr. Jay Chandran explains Market Profile which is a popular trading tool used by traders and investors to analyze and understand the price and volume dynamics of financial markets. It provides a graphical representation of market data, primarily focusing on the distribution of trading activity over a given time period.
Further he explains Vertical bars on the Market Profile chart stand in for each trading period, which is typically a day or session. The horizontal stacking and arrangement of the bars corresponds to the price levels where the majority of trading activity took place during that time. Each bar's width corresponds to the volume traded at a specific price level. Traders are able to see the high and low volume areas as well as the price levels where the market spent a lot of time.
Watch this video to understand how he started his journey as a trader and then, over the years, perfected his trading strategies, money management and to know all the essential points he has to say about his trading style.