We begin this episode by learning the basics of market profile charts.
Indrazith uses a candlestick chart and shows how the same data can be used
to plot a market profile chart. Market profile is not a new system but a
different way to get new insights.
He shares the two main components of his IBS intraday trading system.
These are market sentiment and open action.
He shares three points that he uses to interpret market sentiment. These
are:
1. Today’s move with respect to previous day’s move
2. Range extension and
3. Extremes
He shares two techniques to interpret open action too. These are:
1. Open-low and Open-high
2. Open test drive (up/down)
He shares several charts and examples to explain his IBS intraday trading system with the market profile. Towards the end, he also shows how anyone can ensure to become a profitable trader. He also talks about his books and his life principles.
We’re certain this episode will be as insightful as the first one.
Watch the previous episode: • Intraday Trading Strat...
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Timeline:-
0:00 Introduction
1:04 IBS Intraday System
2:31 Market Profile
6:32 Components of IBS System
6:46 Market Sentiment
7:25 Today’s move with respect to the previous day’s move
9:03 Range extension
10:37 Extremes
11:54 Examples of market sentiment
15:39 Open Action
20:40 Open Test Drive
24:22 Examples of Open Action
29:09 Outcome of a Trade
32:45 Books by Indrazith Shantharaj
35:21 Indrazith's favorite book
36:07 Most memorable day of Indrazith
36:25 Life lesson for Indrazith
38:08 Highlights
About @Indrazith Shantharaj
Indrazith Shantharaj is a former IT professional with 10 years of experience based in Bangalore. He has been an intraday trader for the last 6 years.
He uses the market profile for trading. He is also a best-selling author. He has written 7 books so far with a couple of more in the pipeline.
His site, www.profiletraders.in @Profile Traders by Indrazith Shantharaj helps many traders with quality articles, and insightful posts about the market profile, order flow, and intraday trading.
He has voluntarily opted to pursue a full-time career in stock markets, which is his subject of passion and expertise. He likes to travel, meditate and practice yoga when not active in markets.
About The Right Choices with Oracles of Dalal Street :
The Right Choices with Oracles of Dalal Street is hosted by Apurva Sheth. He is the Chief Markets Editor at Samco. He has more than 11 years of experience in financial markets.
Our show focuses on curating actionable and insightful strategies from real-world stock market heroes. Our guests have been successful in markets and are willing to share their insights with you.
Tune in to The Right Choices with Oracles of Dalal Street every Saturday at 11 am on our KZfaq channel.
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