Ask any passionate stock trader who has transformed his/her passion into wealth about escaping the rat race and ditching the conventional way of living and they are bound to tell you that you gotta “transform your money into wealth by putting it into smart places”. An instant rebuttal that strikes the back of one’s mind is ‘What are the smart places’? Well, worry no more.
Aakash Patel and Chinmay Dudhane, founders of Trading Cafe India, are full-time consistent traders and have got the right answers for you. The duo has been professionally trading for well over a decade. Their experience ranges from trading in equity stocks to complex derivative financial instruments such as futures and options (F&O). But the journey wasn’t as smooth as it sounds.
When we asked Chinmay about his introduction to the markets, he said, “I was 17 years old and eagerly waiting for my PAN card to activate my trading account. It was early 2008 and markets were breaking all highs. No wonder without any proper studies I entered the markets with borrowed money from my parents. It resulted in wiping out all the money in a matter of 2 months as there was no risk management in place. Even though I was placing stop-loss, most of the time I didn’t respect it. I kept going searching for the holy grail and in this process, I wiped out my entire account thrice in a year. Still, at no point did I get a feeling of quitting trading but as I had family pressure, decided to do Job alongside.”
When asked further on how things turned around, he said, “Well it took me another 3 years to become consistent. I kept trading alongside my regular job. I started developing my strategy after coming back from the office late in the evening and on marathon sessions of around 14 hours over the weekend. Finally, I realized that only a strategy will not help to provide profits. So, I started working on combining strategy with risk and money management to get the best outcome. Gradually, I started seeing results. I refined my process further for smooth execution and I am following the same till day.”
Trading Cafe India exhorts on the maxim ‘Before giving up on your trading, let’s try one more time’. To date, Trading Cafe India has helped many retail traders to achieve consistency and thus pursue this as a full-time career, especially young adults who have been struggling to find an edge in the stock market.
Fluent knowledge of price action along with the right mindset is the key to decipher the charts, Trading Cafe India believes. The financial education firm offers mentorship programs to those who are ready to put effort and want to learn the actual way of trading in markets.
“Mentorship is designed in a way to build confidence in traders by teaching the right process to follow with a proper risk management system and sharing all the tools we use day in and out,” says Trading Cafe India.
The Instagram handle of TCI @tradingcafeindia is helping thousands of loyal and active followers by sharing daily trade recaps and core price action analysis in a much-simplified way. In fact, so many traders are improving just by learning from their chart analysis and blogs.
“Our main aim was to help retail traders so that they can shorten their learning curve and don’t repeat the same mistakes we did.”, says Co-founder Aakash Patel. He follows suit commenting upon the underrated skill of “focusing on learning the appropriate process and risk management lessons first”.
The freedom that follows when one is able to conduct his or her business from any nook and corner of the world is the underlying motivating factor that prompted Aakash and Chinmay to hop on to the world of stock trading. After all, being successful in the stock market, as TCI puts it, is the sum of the right strategy and filter process with custom scanners along with optimal risk management. “At trading cafe India, we share exact processes and methods that we have learned from years of experience and which we regularly use to make consistent gains,” says Chinmay, Co-founder, Trading Cafe India.
When asked about his confidence in the craft, Aakash comments ‘well, when you make consistent money, confidence comes automatically’. The consistent money is evident on the Instagram profile of Trading Cafe India where daily insights from the executed trades are shared.
Teaching traders to manage their risk while spotting high-quality set-up at the same time is a prolific exercise of its own and TCI has been acing it. TCI strongly believes anyone can become a successful trader if they take emotions out of the equation. This can only happen if one follows the right process under proper guidance.
(Syndicated press content is neither written, edited or endorsed by ED Times)