Learn about System Based Trading with an example

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In this video, "Learn about System Based Trading with an example", we have with us Mr. Vivek Bajaj, co-founder, StockEdge, Elearnmarkets, in conversation with Mr. Sankalp Chaturvedi, who calls himself a circumstantial trader.

He comes with years of stock trading experience to share with all the Face2Face viewers. He is an avid follower of a systemic and rule-based approach to intra-day trading.

So this video will be of great help to all intraday traders out there.

The video starts with a brief introduction of Mr. Sankalp. He will talk about how and the reasons why he became a stock trader.

For him, it all started with a health issue that took a serious toll on his abilities to do a normal job. So in order to make a living, he got into stock trading.

Since he was in a situation where it was all or nothing, he developed strict rule-based strategies which he has continued to follow for many years.

He will then go on to talk about the 2 common mistakes traders make in the stock markets. One is greed and another is fear.

According to him, the only way to come out of this is to have a disciplined approach to trading. One of his methods is to stop trading for the day the moment he makes a profit between Rs.3,500-4,000. He will then talk about a system he created himself and coded it on TradingView.

Then the speakers will start their discussion on the Algorithm based system which Mr. Sankalp has developed, with live examples.

His system is based on the use of a number of technical indicators ranging from Fibonacci retracements, moving averages, volume-weighted average price and more.

The speakers will then show a live example using the price action based strategy known as StableFork. The system is based on 3 criteria only after which any buy-side or short side trades are undertaken. So Mr. Sankalp all in all follows 3 basic things on a daily basis. These are a strict target price(this helps in overcoming greed), a strict stop loss(which helps in overcoming fear) and a finite amount of profit per day after which he exits trading.

Towards the end of the day, Mr. Sankalp will also show on a spreadsheet his wins and losses throughout the month. With a majority of wins, he ends up making a decent amount of profit and proves that his system does work. So in order to know more about his strategy, be sure to check this video out.

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Link to Trading View - https://in.tradingview.com/?offer_id=...

To connect with Mr Sankalp on twitter-   / nifty_baba  

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