#OurTribe3 - Chaitanya Desai
A young trader who wants to make it big
Chaitanya Desai, 20, is a third-year business student with big aspirations and great persistence qualities. Through solving puzzles he recognised his aptitude for problem-solving that not only helped him in his studies but also made him a good and enthusiastic intraday trader.
The lockdown of 2020 created a surge of free time which gave him a chance to explore his curiosity about the stock market. He began by using his savings and started trading based on the daily news. Unfortunately, most of his days ended up red. In a span of 2 months, 60% of his capital was wiped out. After this period, he decided to dive deep into it rather than giving up, where he learnt technical analysis and charting patterns to develop a greater understanding.
He used to make a watchlist of 8 to 9 stocks by identifying charting patterns every night before the next trading day. Together with a few friends he used to have group trading sessions as well. Moreover, a sturdy trading strategy and charting analysis helped him to achieve a higher win rate and now he has whole green months in his trading journal. Further, he has already started his journey in long term investing by reinvesting his profits to take advantage of the power of compound interest.
Currently, he is studying for CFA Level Ⅰ and aims to use the knowledge to enhance his trading expertise. Also preparing for GMAT alongside, he is one hell of a workhorse. He believes that money is essential, but if you want to have a good life, taking risks is very important.
Chaitanya's suggestion to anyone starting out would be to maintain a trading journal, to analyse your mistakes and to work consistently on trade management.
It is the never die attitude and love for problem solving that makes him part of #OurTribe.