Stock Trading using Ichimoku and Harmonics by a Real Trader
In this instalment of the Face2Face series, we have with us Mr. Dinesh Nagpal, an expert trader who uses technical indicators to trade stocks with the Ichimoku indicator and harmonic patterns, in conversation with Mr. Vivek Bajaj, co-founder, StockEdge, Elearnmarkets.
Being from a business background, and as someone who has seen the ups and downs of businesses quite frequently, Mr. Nagpal understand the fundamentals of stock market psychology quite well, and this is what we will touch upon in this video. We will first discuss the events from Mr. Nagpal’s life, which have led him to start efficiently trading in the stock market.
We will start our conceptual discussion with the kind of soft skills you need to build the right trading psychology mindset in the stock market – with the right discipline, experience and knowledge. We will also talk about some challenges which hold new traders back, and the importance of having the right kind of knowledge before trading.
Mr. Nagpur will discuss his own journey of trading in the stock market and how he learned about Elliot wave theory and its pros and cons, and how he chose Ichimoku and harmonic trading as his go-to solution for finding the best trades for his capital growth.
We will discuss the advantages of harmonics trading and patterns over other styles and how it helps us identify and trade on reversals better. Mr. Nagpal will discuss his own process of how he mastered both Ichimoku and harmonics with the right kind of focus, deep learning, and hard work.
To begin with his technical presentation, Mr. Nagpal will first discuss the importance of tracking technical indicators during the market hours, as well as before and after the market hours are over, irrespective of the time period we are looking to aim for. Next, we will discuss the various time periods we should be looking at to track the performance, followed by the basics and definition of the Ichimoku indicator, and how we can track the performance of stocks using the Ichimoku cloud. He will show us how he uses a variety of technical trading indicators to identify a reversal to trade in.
Next, with the same example we will see how we can identify a profitable entry and exit point with harmonic patterns. With some examples of his real-life trades, Mr. Nagpal will discuss how we can draw and trace harmonic patterns over various situations in the stock market, and how we can trade with them.