A typical week day for me begins at 7:30 AM.
I spend the next 30 minutes on my daily chores тАФ get ready for office, grab a quick breakfast & have a hot cuppa coffee.
Thread ЁЯз╡:
A Day in the Life of a Trader (A day in my Life)
1) I absolutely love my workтЭдя╕П! In fact, I grew up dreaming to be a trader. So trading, to me, doesnтАЩt feel like working (except when I loseЁЯШВ).
ItтАЩs fascinating because itтАЩs different every day.
#trading #life
A typical week day for me begins at 7:30 AM.
I spend the next 30 minutes on my daily chores тАФ get ready for office, grab a quick breakfast & have a hot cuppa coffee.
On my way to office, I check what happened at the Wallstreet overnight & how are Asian markets performing.
I then look for any macro news that may affect overnight positions
P.S: We are moving to a new bigger office & will share pics of that soon
I connect with trade room members on zoom & share my plan for the day, stocks to keep in radar & how to play the index & which option strategies to execute
For more details about Online Trade Room you can check
https://t.co/WrQPxhABsE
I keenly observe the pre-opening to get a general sense of where the market is it likely to open. At 9:07 AM, the pre-opening prices are out. I make a note of stocks opening with a big gap up or gap down and keep them on my watchlist.
a) I commence with analysing Bank Nifty.
ItтАЩs my first instrument of choice where a bulk of my positions are created.
I run my proprietary system Snorlax on BankNifty.
For the uninitiated, Snorlax is a Pokemon that just sleeps & eats all day.
Snorlax is our proprietary intraday theta eating strategy.
The model indicates the intraday trend for the index based on historical data, the opening and certain intraday patterns.
I manually create skewed delta positions as per that and place my stops.
I already discussed some concepts of Snorlax( non directional theta decay strategy) on my #face2face on @elearnmarkets with @vivbajaj
I can be a good starting point for anyone who wants to understand how non directional trading works
https://t.co/4HECxYOBjT
After taking position in BNF, our Momentum based system scans the liquid F&O universe and puts automated orders in futures as per generated signals.
We try to capture intraday moves and is built on concepts of momentum and intraday trading patterns.
Around this time, market moves fizzle out & I again catchup with the traders at Online Trade Room on zoom.
I discuss how the trades discussed in the morning are doing & also share any other stocks on my radar
https://t.co/WrQPxhABsE
a)Next, I have a quick chat with the Quant team, who analyse raw market data &devise profitable trading strategies.
We thoroughly review the performance of the strategies that weтАЩre back-testing & have built our own backtesting engine inhouse.
Currently, quant team is working on ML models using CNN to see if we can find non-linear patterns from multi-dependent variables.
Major part of day of quant team is dedicated to back-testing, research and optimization.
I go on air on TV @ETNowSwadesh before going online I prerpare which stocks to recommend, look at derivatives data & what additional data point to speak while being on air.
IтАЩll update my TV schedule soon here on twitter !
I call trader friends to discuss the markets.I connect with @Ronak_Unadkat almost 3 times during market hours & discuss our views. He is a good trader & friend
I also connect with 2 good traders @prathamesh_pai & @cgarg_ & we discuss our views.
a) I check how my positions for the day are doing.
My actual screen time is quite low! Perks of being a systemsтАЩ trader!
The only exception is Thursday when I am actively in front of the screen.
Markets tend to gain momentum post 2:00 PM.
We tighten our stops on our intraday positions & look for stocks where action is happening in terms of huge volumes/ large intraday moves/ stock breaking intraday high/ low etc.
We run our inhouse built algo for the same.
I again connect with Trade Room members. I see if thereтАЩs any good positional trade shaping up based on momentum and the top gainers for the day. I design a strategy, discuss the hedge with the team and calculate its risk reward payoff.
Time to close all intraday trades. The team ensures that all positional trades & there is adequate margin. Lastly, we run a risk check to see what happens to the portfolio in case of a major gap up or gap down opening on the following day.
I hate to see the markets shutЁЯЩБ but, its 3:30 PM and markets are closed for the day.
I manually update my trading journal & note my learnings for the day if any.
Yes. I have lunch after market close. While having lunch I & my trading team discuss how did we do today, what could have been done better & crack our lame BnF jokesЁЯШЛ
I leave for home. I try to watch any random episode of Friends ( itтАЩs my favourite show)
Get some nap for 10-15 mins and usually try to relax after a hectic trading day.
With so much happening throughout the day, my brain is fatigued. ItтАЩs time to give the brain some rest & tire the body. 5 PM. I hit the gym for about an hour.
As soon as I reach home after gym, I have a quick shower & prepare youtube video till my dinner is getting prepared.
I quickly record the video, discuss stocks to keep in radar & my trade plan for tomorrow !
https://t.co/Ptd9qjklCb
The family sits down to have dinner together. The next 2-3 hours are spent on catching up and watching TV.
I prefer to watch any feel good or inspirational movie.
As a trader, I like to read about- new developments in quantitative finance, innovative ivestment products, books on risk management/psychology etc
Currently, I am reading тАШThe Alpha Masters: Unlocking the Genius of the WorldтАЩs Top Hedge Funds!тАЩ
Time to call it a day. Off to bed.
Before sleeping, I look at SGX & Dow. If both are in direction of my overnight positions then I get a even better sleepЁЯШДЁЯШЛ
ThatтАЩs what a typical week day is for me.
a) On most weekends, we train large trading desks & hedge funds on quantitative trading and how to leverage the power of algorithms & data science in trading
For more details about our Quantitative Trading Program, can check
https://t.co/FcuXygBRCJ
Weekends are usually spent on brainstorming about other business than trading & discussing new products, ideas & future growth strategy
We ponder over what did we do right that we might be able to replicate in another market, at another time.
All work and no play makes Jack a dull boy.
Weekends are put to good use by having an outdoor activity with the team.
At times,we party or play cricket or play any fun team games.
Yes, we have fun too!
