Meet a Homemaker and a Successful Trader #Face2Face with Mukta Dhamankar

TL;DR

A qualified nutritionist turned homemaker shares her journey into trading and her use of the Total Open Interest (TOI) tool to make profitable trades in the derivatives segment.

Transcript

segment so today i got hold of someone who is a brilliant homemaker and she has professional experience and background as well and we're going to hear from her key uh professional background say been a homemaker women traders they should come forward and talk but somehow i have not been able to convince lot of them to come forward and do this face ... Read More

Key Insights

• 👪 The interviewee turned to trading to achieve financial independence while still fulfilling family responsibilities.
• 🔨 The Total Open Interest (TOI) tool is a helpful tool for the interviewee to identify trends and make trading decisions.
• 😥 Point and figure charts, along with other technical indicators like Ichimoku and moving averages, are used to initiate trades and set targets and stop losses.
• 💋 The interviewee emphasizes the importance of discipline, sticking to trading rules, and managing risk in trading.
• 🥳 The interviewee's strategy focuses on intraday trading and target levels, providing a favorable risk-reward ratio.
• ⚾ The interviewee believes in continuous learning and updating strategies based on market conditions.
• 👶 The interviewee plans to introduce her children to trading after they have acquired the necessary skills and knowledge.

Questions & Answers

Q: How did the interviewee transition from being a homemaker to becoming a trader?

The interviewee, a qualified nutritionist, started trading to be financially independent while still fulfilling her family responsibilities. She used her free time when her children started school to learn trading and generate income.

Q: What is the Total Open Interest (TOI) tool?

The TOI tool is a line chart in TradePoint software that plots the open interest of specific options. It helps the interviewee identify trends and make trading decisions based on the open interest data.

Q: How does the interviewee use point and figure charts in her trading strategy?

The interviewee uses point and figure charts to identify buy and sell signals. The charts show columns of X (bullish) and O (bearish) to indicate market trends, and she initiates trades when there are double top buy signals or double bottom sell signals.

Q: What other tools does the interviewee use in her trading strategy?

In addition to point and figure charts, the interviewee uses Ichimoku and double moving averages (10 EMA and 30 EMA) to confirm trends and make trading decisions. She also uses Camarilla levels as targets and stop losses.

Summary & Key Takeaways

• The interviewee is a qualified nutritionist turned homemaker who decided to enter the trading world to achieve financial independence while balancing family responsibilities.

• She uses the TOI tool in TradePoint software to identify trends and make trading decisions.

• Her strategy involves using point and figure charts, Ichimoku, and TOI to initiate trades and set stop losses and targets.