No trader can say that he/she has never faced a loss in the markets. Trading is a little bit of both of these worlds. Sometimes you win, sometimes you lose. Who doesn’t have a bad day? Let’s face it. We all do!
Getting up and going at it is the way of life! You identify where you made a mistake, learn from it and then move on. What is important is how you nurture your skills, learn from your experiences and add to your knowledge of trading.
Today, Algorithmic Trading is often pursued by many from various fields - it is not necessary that one has to have an educational qualification for this, but with an understanding and knowledge of the market, you can make your move. There are common folk, traders, newbies, professionals, giants, etc. that compete in this humongous pool of algorithmic trading. Their stories and journeys often resemble those of ours.
Rishav Sinha began his journey to take the steps for entering the world of Algorithmic Trading and Quantitative Trading and 6 months later here’s what he has to say about it.
Here's our discussion with Rishav
Hi, Rishav! Tell us about yourself.
Hi, my name is Rishav Kumar Sinha. I am pursuing my B.Com. degree from IGNOU (Indira Gandhi National Open University) as well as preparing for my Chartered Accountant exams. I like to read books, stock trading and more. My trading style is intraday and positional.
Have you had any previous experience with trading or with Algorithmic Trading?
Yeah, I’ve had experience with technical analysis and charts. Initially, I used to follow the news channels and also got my hands dirty by doing live trading. Initially, I lost some of my allocated capital but slowly started getting the hang of it. I started analysing the market and I’m still practising as a trader.
How was your experience trading by yourself on signals and tips?
It was the worst experience for me and I will never advise anyone to do so.
Since you are a student at the Institute of Chartered Accountants of India and studying for CA, why did you want to learn Algorithmic trading?
While pursuing CA, this trading career enticed me. I saw that it seemed very easy to me that just with two clicks you can make money in the market ie. by buying and selling.
What encouraged you to become a part of the Algorithmic and Quantitative Trading domain?
Trading in the market is like a daily battle in which you need to have your weapons right. No matter how good the strategy may be, at some point in time, it fizzles out in one script and may work in the other. With this idea and backtesting techniques that which strategy works with which particular script, I got to know about algo trading that if I had a successful strategy I can trade it out in multiple stocks.
What motivated you to enroll for EPAT?
I hunted for many institutes that would teach me all about Algorithmic Trading. But, in India, I came across this institute where the study of algorithmic trading was taught in real terms.
How has your learning experience been during the duration of 6 months?
The EPAT curriculum was very comprehensive. A lot of efforts were given to analyse the quantitative part of the trading.
What features of EPAT have benefitted you the most?
The following features of EPAT, I'd say were the ones that have benefitted me the most:Backtesting, Learning infrastructure, Proper platforms, and Study material
How are you applying your knowledge of Algo Trading from EPAT in your life?
I’m still learning Algo Trading and for now, I’m just developing the basic strategies (pivot, moving averages).
Few words from you to all the aspiring Quants out there.
EPAT may be a 6 months course but the 6 months is just your beginning. Your studying and your efforts will keep on going until you get success in finding a trading system that will make your trading dreams come true. At last, just follow what the faculty at the institute guide you through and always keep your coding skills high.
Do you relate to Rishav’s story? Well, it is just enticing to learn how Rishav went on to redeem himself as an Algo Trader from being just a novice.
It takes courage to take the first step. And with the right guidance and support, you can have a success story of your own to tell. At EPAT, we have come across many such success stories that inspire. Help us to help you build your story. Enroll for EPAT here.
Disclaimer: In order to assist individuals who are considering pursuing a career in algorithmic and quantitative trading, this case study has been collated based on the personal experiences of a student or alumni from QuantInsti’s EPAT® programme. Case studies are for illustrative purposes only and are not meant to be used for investment purposes. The results achieved post completion of the EPAT® programme may not be uniform for all individuals.