Table of Contents
Rajan Dhall sits down to unpack the journey from fitness pro in London’s JP Morgan gym to full-time fund manager and coach at DND Capital—why routine, risk limits, and a “process over outcome” mindset shape his edge. In this candid interview, Rajan shares 15+ years of lessons as a technical analyst and trend-trader who prefers one clean trade a day, ends flat, and reviews with brutal honesty—precisely the kind of practical wisdom new and experienced traders can actually use.
You’ll learn why Rajan favors trend-following over bottom-picking, how he aligns a daily “anchor” timeframe with 5-minute entries, and the simple, repeatable checklist he uses to avoid analysis paralysis. We’ll break down his rules for building discipline (one signal, one trade, for 20 days), managing drawdowns without panic, and turning a calm mindset into consistent execution—so you can steal the best parts of a fund trader’s playbook and make them work in your own account.
Rajan Dhall Playbook & Strategy: How He Actually Trades
Core Philosophy: Trend, Simplicity, and Process
Rajan Dhall keeps his edge simple: follow the dominant trend, trade a single, well-defined setup, and judge success by process quality—not P&L. This section lays out the non-negotiables that keep his trading calm, consistent, and repeatable.
- Trade with the trend only; no bottom-picking or countertrend “ideas.”
- Define your setup in one sentence; if you need two, it’s not simple enough.
- One market bias per session (bullish, bearish, or stand-aside) based on the anchor timeframe.
- If conditions don’t match your setup, do not trade—protect the playbook.
- Grade each session by “Did I follow the rules?” not by dollars.
Daily Routine & Market Prep
Rajan builds discipline before the opening bell. He does a short, repeatable prep that produces a plan he can execute without second-guessing. Use this to start every day with clarity.
- 30–45 minutes pre-market: mark HTF structure (weekly/daily/4H), session highs/lows, and key levels.
- Write a one-line bias: “Bullish above X with momentum; bearish below Y on breakdown.”
- Tag two A-levels only (primary/secondary). Delete everything else.
- Pre-commit risk for the day (e.g., 2R max daily loss, 1 setup max).
- Do a two-minute mental check: “Am I calm? Do I accept my stop?”
Timeframes & Market Selection
He anchors on a higher timeframe to avoid noise, then executes on a lower timeframe for precision. This alignment removes confusion and keeps entries clean.
- Anchor on daily or 4H for trend/structure; confirm momentum on 1H; execute on 5-minute.
- Trade 1–2 instruments you read best (e.g., indices, majors). Specialize; don’t sample.
- If the anchor timeframe and execution timeframe disagree, defer to the anchor or stand aside.
- Only take trades in the session where your instrument has range (e.g., London for FX/indices).
- No overnight holdings for day trades; end the session flat.
Entry Triggers That Don’t Overfit
Rajan favors one crisp trigger that repeats across markets. Keep the logic minimal so you can execute it under pressure.
- Trigger = Retest of a level in trend direction + fresh momentum candle + volume expansion or range expansion.
- Acceptable alternatives: Break-retest or pullback to rising/falling 20 EMA within trend.
- Require confluence: structure (HH/HL or LH/LL), level (S/R), and momentum (impulsive candle).
- Enter on the close of the trigger candle; no “hope” entries mid-bar.
- If price hesitates >2 bars after entry without progress, be ready to cut to scratch.
Risk, Sizing & Stops
His risk rules are tight, so a single mistake can’t ruin the week. Set these once, then stop negotiating with yourself.
- Risk per trade: 0.25–0.50% of account (max 1R).
- Daily stop: −2R; weekly stop: −5R; hit it, stop trading, and review.
- Place stops where the setup is invalidated, not at round numbers (e.g., beyond swing/level + 0.2–0.5×ATR).
- Position size from the stop distance: Size = (Account × Risk%) / Stop(pips/points).
- No moving stops wider. Ever. Only trail tighter after partials.
Trade Management & Exits
Rajan’s management is mechanical: scale risk out into strength and trail behind structure. That keeps losers small and winners tidy.
- First target at +1R; take 50% off and move stop to breakeven once structure confirms.
- Trail behind higher lows (uptrend) or lower highs (downtrend) on the execution timeframe.
- If the anchor trend pauses (inside day/box), tighten the trail or exit on loss of momentum.
- Time stop: if price fails to make a new impulse in 30–60 minutes, reduce or exit.
- Flat by session end for day trades—no exceptions.
“One Trade a Day” Discipline Sprint
He often prescribes a 20-day sprint: one A-setup per day, tracked obsessively. This builds trust in the rules and kills overtrading.
- Commit to 20 sessions of max 1 trade/day.
- Take only A-setups that meet every rule; skip B/C quality.
- Record the setup photo before entry and the management notes after exit.
- If you break a rule, the day counts as a fail regardless of P&L.
- Reward yourself only for rule adherence streaks, not profit.
Psychology You Can Actually Do
Mindset is a behavior, not a mood. Rajan ties psychology to visible actions so you can measure it.
- Pre-trade micro-routine (60–90 seconds): breathe, read the plan aloud, confirm risk.
- Decision rule under stress: “If uncertain, I wait for the next candle.”
- Ban P&L on screen during open trades; show only R-multiple and price.
- After a loss: 5-minute reset timer; no immediate re-entry.
- After a win: re-grade the next setup from zero—no “house money” bias.
The 10-Point Pre-Trade Checklist
Checklists compress experience into a minute. Run this before every order so you stop improvising.
- Anchor trend aligned? (Yes/No)
- Clear level with context? (Yes/No)
- Fresh momentum present? (Yes/No)
- Risk ≤ 0.5% and within daily/weekly limits? (Yes/No)
- Stop beyond invalidation + buffer? (Yes/No)
- Position size calculated from stop? (Yes/No)
- Session has range/liquidity now? (Yes/No)
- One-line plan written? (Yes/No)
- Screenshots before entry saved? (Yes/No)
- Calm and committed to follow the trail/exit rules? (Yes/No)
Journal Metrics That Matter
Rajan’s review focuses on a handful of metrics that actually improve execution. Track these and you’ll know whether you’re trading the plan or the noise.
- Win rate (A-setups only) and average R per A-setup.
- Rule-adherence score (0–10) per trade; week target ≥8.
- Average adverse excursion (AAE) vs. stop distance; aim to keep AAE < 0.6× stop.
- Time-to-break-even and time-in-trade medians; flag trades that linger without progress.
- Distribution of outcomes by session/time; stop trading your worst time block.
Adapting the Setup to Market Conditions
The setup stays the same; the filters change. Here’s how to tighten or loosen rules without breaking the playbook.
- High-vol regime (wide ATR): halve size or double buffer; keep 1R targets, trail faster.
- Low-vol chop: require higher-timeframe breakout + retest; skip inside-range signals.
- News days: flat 5 minutes before tier-1 releases; trade only post-retest structures.
- Trend exhaustion signs (climactic bars, divergence): take profits quicker; no fresh adds.
- First day back after a drawdown: trade half-risk or observation-only.
A Simple Swing Variant (Same DNA)
When Rajan swings, he keeps the same logic but widens stops and lets the structure do the work. Copy these adjustments if you extend holding time.
- Anchor on daily/weekly; execute on 1H/4H.
- Risk per trade unchanged; stops 1.0–1.5× daily ATR beyond invalidation.
- Scale at +1R and +2R; trail on 1H structure or prior day’s low/high.
- No adds unless original risk is fully paid (after +1R scale).
- Friday rule: no new swings close to the weekly close unless already paid.
Your One-Page Playcard (Fill-In Template)
Print this and keep it next to your screen. If it isn’t on the card, it isn’t in the trade.
- Bias today: ______________ Above: ____ Below: ____
- Instrument(s): __________________ Session window: –
- A-level (primary): ____ Secondary: ____
- Entry trigger: __________________ Confluence boxes checked: [ ] Structure [ ] Level [ ] Momentum
- Stop logic: __________________ Buffer: __×ATR
- Size (units/contracts): ______ Risk: __% (__R/day max)
- Management: scale at +1R [ ] trail rule: __________________
- Invalidation conditions (auto-exit): __________________
- Post-trade notes: rule score __/10; screenshots saved [ ]
Size Risk First: Fixed R, Daily Loss Cap, Weekly Circuit-Breaker
Rajan Dhall starts with risk, not setup, because position size determines survival before any “edge” can pay out. He defines a fixed R per trade—usually a small fraction of equity—so every outcome is comparable and emotionally manageable. Before the session begins, he pre-commits a daily max draw (e.g., −2R) that shuts him down automatically. This turns risk into a hard boundary, not a suggestion he negotiates with mid-session.
He also uses a weekly circuit-breaker to prevent one bad day from snowballing into a bad week. If the rolling week hits a defined limit—say, 5R—he stops trading and moves into review-only mode. Rajan Dhall treats these caps as production rules: they trigger without debate and reset his decision quality. By sizing to R, capping the day, and enforcing a weekly breaker, he safeguards the account—and his mindset—so the strategy can compound when conditions align.
Trade With Trend Only: One Setup, One Instrument, One Session
Rajan Dhall keeps it brutally simple: trade in the direction of the dominant trend and ignore everything else. He anchors bias on the higher timeframe and refuses countertrend “ideas” no matter how tempting the micro move looks. If the anchor says up, he waits for pullbacks and break-retests that point higher; if it says down, he sells rallies and breakdown retests. This cuts noise, reduces decision fatigue, and makes execution almost automatic.
He also limits himself to one clean setup on one instrument during one session, ending the day flat. Rajan Dhall’s rule kills overtrading and context-switching, forcing all attention onto A-quality signals. Pick your instrument, pick your session window, and commit to the same trigger every day so your review process compares like-for-like.
Volatility Guides Entries: ATR Buffers, Scale-Outs, Faster Trails In High Volatility
Rajan Dhall treats volatility as the metronome for execution—if the tempo speeds up, the rules tighten. He uses ATR to place stops beyond true invalidation, not random round numbers, so noise doesn’t wick him out. In high-volatility phases, he reduces position size or widens the buffer while keeping the same R risk, letting structure—not luck—decide survival. Entry timing follows expansion: a clean momentum close plus a retest, with ATR confirming that range is actually there.
Management flexes with the tape but stays mechanical. Rajan Dhall scales partials at +1R to pay risk, then trails faster when ATR expands, locking gains as impulse waves extend. If volatility compresses, he slows the trail and demands fresh momentum before letting the trade breathe. The outcome is simple: volatility sets the distance, size, and speed—discipline turns those readings into automatic actions.
Mechanics Over Predictions: Level–Retest Trigger, Momentum Confirmed, No Mid-Bar FOMO
Rajan Dhall puts mechanics ahead of market “calls,” because repeatable execution beats crystal-ball narratives. He waits for a level to break, then retest, and only enters when a fresh momentum candle confirms continuation. The order goes plan → level → retest → confirm—no skipping steps because the bar looks exciting. By entering on the close of the signal candle, he removes the guesswork that comes from mid-bar flicks.
He also ties every entry to a clear invalidation, so exits are automatic, not emotional. If the retest fails or momentum fades within a set number of bars, Rajan Dhall scratches without debate and resets for the next clean sequence. A tiny checklist—trend aligned, level respected, momentum confirmed—keeps his process consistent trade after trade. The result is boring, mechanical consistency that compounds far better than any one “big prediction.”
Diversify Smartly: Underlying, Strategy, and Duration—Not Random Trade Count
Rajan Dhall diversifies by design, not by adding more trades. He spreads exposure across uncorrelated underlyings, so an index fade doesn’t sink the same day’s FX trend idea. He also diversifies by strategy type—trend-continuation vs. breakout-retest—while keeping identical risk math so results remain comparable in R. Duration matters too: day trades end flat, swing variants keep wider stops and slower trails, preventing the same noise from hitting everything at once.
Correlation is treated as a risk, not a footnote. If two instruments move off the same macro driver, Rajan Dhall treats them as one position and halves the size or skips the second trade. He avoids stacking undefined risk structures in the same session and keeps total session risk capped regardless of how “good” the board looks. The aim isn’t more tickets; it’s cleaner exposure that survives bad regimes and compounds in good ones.
In the end, Rajan Dhall’s edge isn’t a magic indicator—it’s a system that protects capital so the good trades can show up and do the heavy lifting. He sizes with a fixed R, sets hard daily and weekly circuit-breakers, and then keeps everything else brutally simple: trade with the anchor-timeframe trend, look for one clean level–retest with fresh momentum, and finish the session flat. Volatility is treated like a speed limit, not a vibe—buffers widen when the tape runs hot, size cools when ranges explode, and trails tighten only after risk is paid. That mechanical spine turns “discipline” from a motivational poster into a set of switches you flick before, during, and after the trade.
What makes Rajan Dhall’s approach so transferable is how every habit ladders into consistency. The morning prep compresses into a one-line bias and two A-levels, the execution reduces to a repeatable trigger, and the review scores behavior over P&L so you can actually improve. He’d rather log one A-setup than five half-baked punts, diversify by underlying/strategy/duration instead of ticket count, and treat correlation as real risk, not an academic footnote. If you adopt just those essentials—risk first, trend alignment, a single trigger, volatility-aware management, and a rule-scored journal—you’ll trade less, think clearer, and give your strategy the room it needs to compound.
