This 69-Year Young Millionaire Trader Aims on Process, Not Profit | Big Bull #28

A lot has changed in the stock market in the last few years and to know what has changed who can be better than a stock trader, researcher and analyst Prakash Gaba. He is 69 years old and witnessed almost every change that happened in the stock market in the last 25 years.

Prakash Gaba ji has seen stock market crashes, the Harshad Mehta scam, the Ketan Parekh scam and every major economic event and he is now sharing his wisdom and insights on the stock market in A Digital Bloggers' Big Bull Podcast Series.

Prakash Gaba started trading at the age of 47 but now he is a seasoned trader. When asked about his daily routine he said he is an early bird and wakes up at 5 A.M.He starts his day with meditation and then set up his computers for trading.

When host Aseem Juneja asked Prakash Gaba what has changed in the stock market and how you feel about it now, he replied trading has become very seamless. Earlier he used to look at the chart for 1 hour for trading signals but now with the advent of technology, one needs to just look at the chart for 1 second for trading.

Prakash Gaba said he does trading unconsciously, without looking at the structure as he has experience and knowledge of the stock market and with time it is increasing. In the initial days, he put 18-19 hours per day to learn about the stock market as he had not any other option to earn other than the stock market and over the period his passion for trading has increased.

When host Aseem Juneja asked Prakash Gaba ji why he chose the stock market instead of any safe option to earn money he said it was not a matter to play safe. It was a matter of temperament. He said if had he looked for a safe passage he would not have earned with name and fame. In nutshell, the risk he took paid off.

When asked about his secret of success he said he does not look for making profits and losses, he focuses on process.

There is more about price action, technical indicators, market and trading psychology and philosophy and interesting anecdotes from his life so do watch the video for the full-length and tell in comments what you learned from this podcast.

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In this stock market podcast:


Chapters:
00:00 Introduction
01:39 How Prakash Gaba Sees Today's Market
08:16 What Pushed him into Trading and hunger for learning
17:33 Technical Indicators are futile if you can't earn with them
22:30 It takes time and effort to become successful
24:30 You can not be a winner always
27:25 Learning from mistakes
28:50 What has changed in Trading and Stock Market
44:15 Dealing in a volatile market
54:00 Closing thoughts