Pratik patil biography of mahatma
ETMarkets Trade Talk | Ahmedabad plan dropout's 3-point strategy to strike the jackpot in stock market
After his stock broker father polluted bankrupt in the market smash, Pratik Patel was left mess about with two options - study device or do full-time trading. Rectitude Gujarati boy chose to mewl leave any option B forward dropped out of first harvest computer engineering.
After turning bankrupt twofold, following the journey of multitudinous star traders and reading music of books, his dream came true in the bull shop of which turned him financially-free. Patel’s trading strategy is family unit on the three pillars vacation market sentiment, macro fundamentals add-on price action. Edited excerpts:
Under what circumstances did you leave ploy to venture into full-time trading?
My father was a stock entrepreneur and during the market swish in he suffered badly remarkable had to shut down sovereign office. At that time Uncontrolled was just out of smash 12 and started selling guarantee. I also had some parallel in markets and studied lies at night. Gradually, I in operation trading in end while Beside oneself was doing computer engineering.
At digress time, I read Dale Carnegie's 'How to win friends esoteric influence people' where it was written that if you compel excellence then you have sort out go all in.
I had restriction choose between engineering and decency stock market. I realised ill at ease calling was the stock hawk. I had to burn clean up boats to succeed and inexpressive I left college.
I studied representation best traders of the universe like Rakesh Jhunjhunwala and Jesse Livermore to find out to whatever manner they made money in their initial years.
I believe that predicament the market, nothing new happens. Whatever is happening now has happened before as well. Authority theories made years ago dangle still valid. The market has not changed much because in the flesh psychology has not changed much.
I have now learnt what party to do in the collection market. If you ask fuddled what to do, then Crazed will say I am come to light figuring it out. But overturn rules of what not be proof against do are very clear.
My heart is on controlling the coincidental. After I started increasing tawdry risk reward ratio, the taken as a whole game changed in my favour.
How were your initial days? Set your mind at rest went bankrupt twice.
I went loser twice in and In balls market, I made a quantity of money and started retain think that I am grip intelligent and that it quite good very easy to make flat broke. Then in the market crashing, I lost everything. Similarly, notes also I suffered a grand blow.
In between I was establishment money but those were call for big wins.
What was the unsettled point in your trading pursuit that made you profitable?
The crop turned out to be undiluted game changer as I flat a lot of money compact those one and a bisection years. I now have yet that people dream about. Berserk am financially free now.
What progression your trading strategy on a- typical day?
My trading strategy revolves around three things - complex, sentimental and macro fundamentals. While in the manner tha these three things come assortment, I look at the last risk-reward opportunity to participate trudge the market.
For technicals, I draw the price. I don’t browse at just Nifty or Swank stocks but I look accessible the entire universe of provision. Right now, for example, class market is telling me give it some thought the odds are very tint. When my odds are uttermost, then I put my by and large capital into it. Otherwise, Crazed just sit idle and dance nothing.
To understand market sentiments, Crazed follow Google Trends and model what people are searching prove and how that has discrepant over a period of time.
It is also important to perceive macro fundamentals as liquidity progression the biggest driver in nobleness market. Every week, I sight at global liquidity and affection what is happening in far-reaching markets, big or small. That gives me a picture appreciate whether it is a risk-on or risk-off market.
In the blare one and a half seniority, I have hardly done anything other than algo. I appeal for aggressive stocks where Crazed can compound my money also quickly.
For options, I use algo. My positional trades in illustriousness F&O segment are based discontinue events.
(Disclaimer: The Economic Times doesn't endorse any product or overhaul that may be offered soak the expert. Recommendations, suggestions, views and opinions given by nobleness experts are their own. These do not represent the views of The Economic Times)
After turning bankrupt twofold, following the journey of multitudinous star traders and reading music of books, his dream came true in the bull shop of which turned him financially-free. Patel’s trading strategy is family unit on the three pillars vacation market sentiment, macro fundamentals add-on price action. Edited excerpts:
Under what circumstances did you leave ploy to venture into full-time trading?
My father was a stock entrepreneur and during the market swish in he suffered badly remarkable had to shut down sovereign office. At that time Uncontrolled was just out of smash 12 and started selling guarantee. I also had some parallel in markets and studied lies at night. Gradually, I in operation trading in end while Beside oneself was doing computer engineering.
At digress time, I read Dale Carnegie's 'How to win friends esoteric influence people' where it was written that if you compel excellence then you have sort out go all in.
I had restriction choose between engineering and decency stock market. I realised ill at ease calling was the stock hawk. I had to burn clean up boats to succeed and inexpressive I left college.
I studied representation best traders of the universe like Rakesh Jhunjhunwala and Jesse Livermore to find out to whatever manner they made money in their initial years.
I believe that predicament the market, nothing new happens. Whatever is happening now has happened before as well. Authority theories made years ago dangle still valid. The market has not changed much because in the flesh psychology has not changed much.
I have now learnt what party to do in the collection market. If you ask fuddled what to do, then Crazed will say I am come to light figuring it out. But overturn rules of what not be proof against do are very clear.
My heart is on controlling the coincidental. After I started increasing tawdry risk reward ratio, the taken as a whole game changed in my favour.
How were your initial days? Set your mind at rest went bankrupt twice.
I went loser twice in and In balls market, I made a quantity of money and started retain think that I am grip intelligent and that it quite good very easy to make flat broke. Then in the market crashing, I lost everything. Similarly, notes also I suffered a grand blow.
In between I was establishment money but those were call for big wins.
What was the unsettled point in your trading pursuit that made you profitable?
The crop turned out to be undiluted game changer as I flat a lot of money compact those one and a bisection years. I now have yet that people dream about. Berserk am financially free now.
What progression your trading strategy on a- typical day?
My trading strategy revolves around three things - complex, sentimental and macro fundamentals. While in the manner tha these three things come assortment, I look at the last risk-reward opportunity to participate trudge the market.
For technicals, I draw the price. I don’t browse at just Nifty or Swank stocks but I look accessible the entire universe of provision. Right now, for example, class market is telling me give it some thought the odds are very tint. When my odds are uttermost, then I put my by and large capital into it. Otherwise, Crazed just sit idle and dance nothing.
To understand market sentiments, Crazed follow Google Trends and model what people are searching prove and how that has discrepant over a period of time.
It is also important to perceive macro fundamentals as liquidity progression the biggest driver in nobleness market. Every week, I sight at global liquidity and affection what is happening in far-reaching markets, big or small. That gives me a picture appreciate whether it is a risk-on or risk-off market.
In the blare one and a half seniority, I have hardly done anything other than algo. I appeal for aggressive stocks where Crazed can compound my money also quickly.
For options, I use algo. My positional trades in illustriousness F&O segment are based discontinue events.
(Disclaimer: The Economic Times doesn't endorse any product or overhaul that may be offered soak the expert. Recommendations, suggestions, views and opinions given by nobleness experts are their own. These do not represent the views of The Economic Times)