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Vishal Mehta, CMT – The hurdles on the way from discretionary to system trading

Vishal Mehta is a successful trader who started his journey from discretionary trading. Simple it may sound, but there were several hurdles that Vishal had to cross as he moved on in trading. And the journey was difficult, to say the least.

Covering a not-so-easy journey from discretionary trading to system trading, Mehta quintessentially proves all it takes to be a successful trader is to be mentally disciplined.

Vishal Mehta as a self-motivated professional

Vishal Mehta is the Founder of Marketscanner. He is among the first 20 Chartered Market Technicians in India from the USA and Co-Chair for Mumbai Chapter of CMT. Vishal is a full-time independent trader running systematic funds, and a specialist in Technical Analysis mainly on Mean Reverting, Systematic Trading, Elliot Wave & Position Size.

Vishal’s exposure to the market started at an early age when he used to visit his father’s office who was a BSE broker. Though his father’s job did intrigue him, envisioning the market as a career was nowhere in the hindsight back then.

He completed his graduation in Statistics in 2002 and was left with three career options. His love for music, professional involvement as a cricketer, and his father’s business – and Vishal couldn’t decide which way to go.

Still stuck with career plans, he attended a seminar at BSE on Technical Analysis which was his first exposure to markets, and it instantly got Mehta hooked to it. His further interest made him learn more about technical analysis and ultimately got him to work for Spider Software that made the intra-day charts for his trading. Later, he worked for Reliable Software for a few years, and met over 1,000 traders during these years. These interactions and networking helped him a lot to understand the psyche of a trader.

Gradually, he learnt about planned trading, risk management, and eventually the profits and losses that followed in the journey. He also realised that a steady income is important and hence he joined an MS Finance course offered by ICFAI Hyderabad, and later joined ILFS Investsmart as a Technical Analyst.

Soon later, he got a chance to work with Reuters where he met the institutional buy-side players like bankers and corporates. The training-and-support assignment with Reuters helped Vishal train central bankers in Sri Lanka, Maldives, Nepal and Bangladesh.

Mehta joined Bloomberg the Chart Advocate for Asia, and interacted with thousands of traders across the globe. It was here that Vishal heard about Chartered Market Technician (CMT) and completed it in 2006-2007.

Vishal – One of the first 20 CMTs in India

Not many people were aware of CMT in India back then, and Vishal approached the CMT head office in the US. Thanks to his work experience, he was later appointed as the Chairperson of CMT Mumbai Chapter.

Vishal’s success as a trader

Vishal made all possible mistakes as a trader, but he kept on trying every strategy he could come up with. Vishal’s love for reading made him come across two books – Stock Market Edges by Philip Reschke and Short-Term Strategies That Work by Larry Connors. Both these books helped him learn about quantitative edges, systematic strategies, and unknown sides of trading.

Vishal also learnt about implementation of trading in the right way. Switching from a discretionary trader to a systematic trader, a set of well-defined rules was important to trade.

Apart from being an avid reader, Vishal Mehta is a huge cricket fan. When in Mumbai, he still manages time to play cricket on Sundays with his society mates.

Vishal Mehta at Bull Run Summit

Vishal Mehta shares his trading strategy at Bull Run Summit from 23rd to 25th July 2021. He sets a few criteria to choose trading companies and sort them on the basis of ROC. At Bull Run Summit, Vishal also talks about top 10 stocks that make it to the top of the trading industry.

As a trainer of technical analysis and trading strategies, Vishal has much more to share about his professional career lessons and tips.

Hear him speak on BULL RUN SUMMIT. Book your slot at https://bullrunsummit.com.


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