Life and Journey of a Trader

I have opened this account at this forum to thank you for sharing your life story. We share many things in common, like you, I have also given a better part of life preparing for Civil Services. In fact, I am still preparing. Like you, presence of commerce people stimulated my interest in stock market. Like you, initially I gained by fluke. Like you, I borrowed money with a hope to break even. In this process, i have lost around 200000 within a span of seven months. Now there are around 50000 in my commodity account.
Your analysis about life of a trader hitherto does apply to me, considering this I have drawn certain conclusions and made certain decisions.

Conclusions-

1. Trading can be highly mentally taxing. It keeps your mind occupied for all the time, this is more true in case of trading at MCX.
2. People who loose are much more than people who profit.
3. There should be a permanent source of income.
4. Trading can be trap - In my case i have become addicted to MCX. I wake up at 09:58 and then my whole day revolves around the laptop. Sunday seems to me the only normal day now.

Decisions-

1. Suddenly, I have realized that for the past seven months I have been a full time trader. This is not I wanted. It is not that trading is bad or something but the reason is the pressure is too much for me to bear. I started all this to make easy money but I was being too optimistic. So from this very moment no full time trading for me.
2. Will not put more amount for trading.
3. Alternative way of debt payment. I might use a scholarship that I have and or I will sell my motorcycle.
4. Refocus on my original aim.


Once again thanks to you. After going through your thread I have got a fresh but realistic perspective about what the market can do to you. It can go either ways but I can not afford to take the risk. Once i missed final selection in civil services by 1 mark. Civil Services preparation is a gamble in itself and that too a big one. It is not prudent for me to expose my self to risk at two fronts. So I am confining my self to becoming a student.


P.S. Your father has been very supportive. I pray for him.
 

jahan

Well-Known Member
I have opened this account at this forum to thank you for sharing your life story. We share many things in common, like you, I have also given a better part of life preparing for Civil Services. In fact, I am still preparing. Like you, presence of commerce people stimulated my interest in stock market. Like you, initially I gained by fluke. Like you, I borrowed money with a hope to break even. In this process, i have lost around 200000 within a span of seven months. Now there are around 50000 in my commodity account.
Your analysis about life of a trader hitherto does apply to me, considering this I have drawn certain conclusions and made certain decisions.

Conclusions-

1. Trading can be highly mentally taxing. It keeps your mind occupied for all the time, this is more true in case of trading at MCX.
2. People who loose are much more than people who profit.
3. There should be a permanent source of income.
4. Trading can be trap - In my case i have become addicted to MCX. I wake up at 09:58 and then my whole day revolves around the laptop. Sunday seems to me the only normal day now.

Decisions-

1. Suddenly, I have realized that for the past seven months I have been a full time trader. This is not I wanted. It is not that trading is bad or something but the reason is the pressure is too much for me to bear. I started all this to make easy money but I was being too optimistic. So from this very moment no full time trading for me.
2. Will not put more amount for trading.
3. Alternative way of debt payment. I might use a scholarship that I have and or I will sell my motorcycle.
4. Refocus on my original aim.


Once again thanks to you. After going through your thread I have got a fresh but realistic perspective about what the market can do to you. It can go either ways but I can not afford to take the risk. Once i missed final selection in civil services by 1 mark. Civil Services preparation is a gamble in itself and that too a big one. It is not prudent for me to expose my self to risk at two fronts. So I am confining my self to becoming a student.


P.S. Your father has been very supportive. I pray for him.
Hello,
Sorry for what Markets did u.......its sad.
...its good that u have made a decision to withdraw from trading, atleast u now realize that Trading is not for u.

there r Still people out there who didn't understand/know what to do to trade profitably,........or nor quitting the Trading, just like u said they are addicted.

Trading is Totally a Mind game,which involves a solid psychology,Money management and a positive expectancy Strategy.

Wish u all the best for ur Civils Career.......

Regards,
 

sibu3168

Well-Known Member
Hi toshi123,

I have read all your story. In fact, I am very happy that you have pointed out your own mistake and rectify it immediately. The truth is trading is not at all a easy job. It is very very difficult. By merely buying and selling a scrip is not trading. It is much more than that.

Another advise from my side. Preparing for Civil Service Exam is in fact a very high risk decision. Failure in this examination will put you in a very depressed condition. It is highly demoralising. Why? Those who seriously prepare for this examination, at some point of time think thay are quite capable in getting through this examination. In fact they are. But when failure arises, at that time they can not take it sportively. So the case of depression arises. Also the success rate of this examination is very very low considering the fact that around 2.5 lakhs to 3 lakhs aspirants appear for the exam every year. Out of these people, only 1200 to 1500 people get through it. So my advise is apart from this examination, you must consider other exams like State Civil Service Exam, RBI etc. so that your probability of success will be high.

Forget about the past deed and if in future your fascination towards market arises, then simply go for investment that is also in bluechip shares with longer time frame.

Wish you all the best for your future.
 
Hi friends,

I will not be able to trade for the next few days as my father was admitted in the hospital and I have to stay there as his attendant.

Anyway, best wishes to everybody.
Take good care of your father's health...trading can wait. All our good wishes for speedy recovery of your father's health.

Smart_trade
 

sunilrhs

Well-Known Member
Wish him speedy recovery buddy....take care....

Hi friends,

I will not be able to trade for the next few days as my father was admitted in the hospital and I have to stay there as his attendant.

Anyway, best wishes to everybody.
 
Hi toshi123,

I have read all your story. In fact, I am very happy that you have pointed out your own mistake and rectify it immediately. The truth is trading is not at all a easy job. It is very very difficult. By merely buying and selling a scrip is not trading. It is much more than that.

Another advise from my side. Preparing for Civil Service Exam is in fact a very high risk decision. Failure in this examination will put you in a very depressed condition. It is highly demoralising. Why? Those who seriously prepare for this examination, at some point of time think thay are quite capable in getting through this examination. In fact they are. But when failure arises, at that time they can not take it sportively. So the case of depression arises. Also the success rate of this examination is very very low considering the fact that around 2.5 lakhs to 3 lakhs aspirants appear for the exam every year. Out of these people, only 1200 to 1500 people get through it. So my advise is apart from this examination, you must consider other exams like State Civil Service Exam, RBI etc. so that your probability of success will be high.

Forget about the past deed and if in future your fascination towards market arises, then simply go for investment that is also in bluechip shares with longer time frame.

Wish you all the best for your future.

You really know about the situation in which I am. I have 2 exams scheduled within 2 months. One is State Civil Service Main and other one is Judicial services main. Thanks to your eyeopening post, I have quit trading and currently refocusing on these exams.
One thing I would like to say is that there is one thing very special about the way you write. Your writing is honest to the extent of being self-deprecatory, something very uncommon. I was totally able to relate with it and was so sure about the authenticity of your life experience that I made decision on its basis. It is my request to you that please keep continue writing, It would be great if you write a regular blog so that wider range of people can get benefit.
Prayers for your father.
Thankyou.
 

VJAY

Well-Known Member
Dear sibu,
Please take care of your fathers health....wishing speedy recovery ...
 

Gaur_Krishna

Well-Known Member
My sincere prayers to Lord Radhe Krishna & Lord Sita Rama and Lord Laxmi Narayana....
Chanting of Lord's Holy Names is best medicine for everyone under all possible conditions....
Plz TC ......

Regards,
Gaur_Krishna
Hi friends,

I will not be able to trade for the next few days as my father was admitted in the hospital and I have to stay there as his attendant.

Anyway, best wishes to everybody.
 
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