Trader Profile – Tarang Jain
We would like to Introduce one of our Students who completed our In-House Intermediate Program in August 2015 and is on his way to becoming a Full Time Trader.
Below you will find out more about his journey.
A friend of mine introduced me to the world of trading as a means to supplement my income. My numerate nature liked the idea and I began thinking of ways to develop this into a full time career but quitting a well paying job and changing careers was not a piece of cake.
So, I resorted to my best e-friend ‘Google’ to learn to trade by reading a plethora of information available on the web – both good and bad.
One thing which I repeatedly came across was that over 90% of people who traded, would succumb to the mighty markets and burn their accounts. I was not ready to fall prey to the markets. I had to taste success before I made my move to prove to myself that I was cut out to ‘Trade’ for the rest of my life.
Brief background about your trading
Reading books and blogs gave me a fair understanding of the markets, so I started out slow and steady, trading in demo environment trying to protect my capital.
But soon, I was overwhelmed with the information available on the internet. I began searching for the perfect strategy and started jumping from one indicator to the other in search of the
Eventually I settled in for a strategy of my own which I believed would take my boat across the river. I decided to go live. In a span of 3 weeks, I had grown the account 3 times. I was overjoyed at my spectacular performance. But my success was short lived. My overconfidence and emotions overshadowed my trading and I lost 90% of my account including most of my seed capital.
Determined to succeed, I did not lose hope and funded my account once again. I tweaked my strategy and tried to repeat my success saga. Unfortunately, I failed badly and ended up blowing up my account. I had realised that I lacked some key traits of being a successful trader and needed professional guidance from someone who has been in the same boat, not just survived the dynamic markets but earned a living trading full time, i.e. a Proprietary Trader.
What you learnt at Trade View
Trade View made me revisit the basics and emphasised on sound money management principles tried and tested by Rob and his team over the years. I also learnt to build and transform my existing strategies into automated systems on my own.
In the past, trading manually I would often override my trading strategy and follow my instinct to end up in a loss making trade.
The very fact that I could automate my strategies has allowed me to overcome my emotional barriers and religiously follow my trading plan. Further, I can now trade in multiple timezones /timeframes/ instruments at the same time without being limited by the requirement of me being physically present to take those trades.
In short, Trade View has enabled me into becoming a consistently profitable trader.
Please share some of your success and failures while learning to trade.
Systems trading learnt at Trade View has enabled me to fix an erratically performing strategy into a consistently profit making strategy.
I have shared the back-testing results of my strategy when I was a discretionary trader.
Although, the first few trades were profitable, the net result after 800 trades over the next couple of months was a continuous down curve. Seeing this poor performance, I would have rejected this strategy and moved on to the next.
However, automating the same strategy and guidance from Trade View helped make it consistently profitable.
What are your future Goals?
I am continuously developing more and more automated systems in pursuit to quit my boring corporate job and soon start trading full time like the professionals at Trade View.
If you would like us to help you achieve results like Tarang, call us now to book your seat at our next available Intermediate Workshop.