Trading as Profession

[trader21]

My pet doctor(veterinarian) is the best in my whole city but he does not have any interest in pets,I have seen other vets who have lots of interest in pets but still they are not as famous as my vet.

Isn't having interest in owning pets and having a technical flair for curing pets two different things?
BTW I'm a trader; majority perceive trading as gambling on instinct but what I really do day by day is far from gambling.

 

[WallStreetInvestor]

Hello.

I'm a trader and an investor. And I'm only 16.

It doesn't actually matter whether you quit your job or only trade and invest in the markets. Firstly, I'm not an intraday trader, but quite a short term trader. I always keep 10% of my portfolio as long term investment.

I trade and invest besides my studies. I have a fixed set of strategies to trade, and I only follow those rules like a machine. This way, since my dad started our new broker house back in early 2008, I've enjoyed returns in excess of a few hundred percent.

My strategies are:

1. Use margin loan (here you get up to 1:1).

2. I NEVER buy a share with more than 10% of your PF value (margin loan included). Because some of my biggest losses were when I tried to 'gamble' by putting a high % of my PF value on only one share.

3. I use VSA (of Karthikmarar) and a simple EMA trading system with volume spike for trading. Nothing else.

4. I check on the share price condition every 3 days.

5. If P/E ratio of a stock is low, and if the stock gives a bonus share as dividend, buy it just before record date and take the bonus share.

Another I forgot to mention: Buy only low P/E stocks.

Above all: I trade and invest like a MACHINE! Some of my very senior friends say "If I held this share for one more day, I would've gained 10%!!!". Some say "Why didn't I sell this earlier?!". I don't say anything. Neither do I give any importance to trading. I employ amibroker and the trading systems as slaves who do the job for me. I've learned to avoid all emotions related to trading. Never can I name one instance in which my studies or academic performance were affected due to interests in trading.

So, I think it doesn't matter if you quit your job or not. Employ trading systems as your slave. Don't show any emotion and be stringent when your trading system gives a signal, because you are their master. Learn to avoid ALL emotions when a stock goes up after you sell or goes down for a stoploss. Follow your strategy like a machine. You can do good by trading/investing with your job or by quitting your job.

I am thinking if I can make a software which would place automatic orders with my online brokerage account as soon as there is a buy or sell signal from the EMA system. I would be able to completely avoid having to check on amibroker every 2-3 days.

NOTE: I do not intend to offend anyone.

 

[SaravananKS]

From My 3 Years Exp in Trading

1. Pull the money from Market by Investing in MFs
2. Use that Profit in Direct Investing in Stocks
3. use ur Investment profit in to Swing Trading!!
4. use your Swing Trading Profits in to Intraday

Still You have Lot of profits!! that is atleast twice from your profession earning ?? then it is the time to think to leave Ur Proffession:clap:

 

[bharath.mang]

Sometimes I think, if Trading is a profession.... ????

 

[seetharamank]

Dear Sain,

I am working as a branch manager with a reputed broking firm. Are there any full time trader making fortunes for themself.

nodear friend not many making fortunes with being day traders if u watch ur traders particularly daytraders u will understand the truth in it only about 2% make profits in day trading

 

[arsh_makker]

Hello.

I'm a trader and an investor. And I'm only 16.

It doesn't actually matter whether you quit your job or only trade and invest in the markets. Firstly, I'm not an intraday trader, but quite a short term trader. I always keep 10% of my portfolio as long term investment.

I trade and invest besides my studies. I have a fixed set of strategies to trade, and I only follow those rules like a machine. This way, since my dad started our new broker house back in early 2008, I've enjoyed returns in excess of a few hundred percent.

My strategies are:

1. Use margin loan (here you get up to 1:1).

2. I NEVER buy a share with more than 10% of your PF value (margin loan included). Because some of my biggest losses were when I tried to 'gamble' by putting a high % of my PF value on only one share.

3. I use VSA (of Karthikmarar) and a simple EMA trading system with volume spike for trading. Nothing else.

4. I check on the share price condition every 3 days.

5. If P/E ratio of a stock is low, and if the stock gives a bonus share as dividend, buy it just before record date and take the bonus share.

Another I forgot to mention: Buy only low P/E stocks.

Above all: I trade and invest like a MACHINE! Some of my very senior friends say "If I held this share for one more day, I would've gained 10%!!!". Some say "Why didn't I sell this earlier?!". I don't say anything. Neither do I give any importance to trading. I employ amibroker and the trading systems as slaves who do the job for me. I've learned to avoid all emotions related to trading. Never can I name one instance in which my studies or academic performance were affected due to interests in trading.

So, I think it doesn't matter if you quit your job or not. Employ trading systems as your slave. Don't show any emotion and be stringent when your trading system gives a signal, because you are their master. Learn to avoid ALL emotions when a stock goes up after you sell or goes down for a stoploss. Follow your strategy like a machine. You can do good by trading/investing with your job or by quitting your job.

I am thinking if I can make a software which would place automatic orders with my online brokerage account as soon as there is a buy or sell signal from the EMA system. I would be able to completely avoid having to check on amibroker every 2-3 days.

NOTE: I do not intend to offend anyone.

hi WallStreettrader,

I liked your strict discpline, 90-95% of the traders/investors loose mony because they are not disciplined and get emotional with the trades.

Even I am thinking of a software which could place autimatic orders, but i am not sure if this can be done; although this is already possible in forex market.

Did you do any research on such algorithmic trading on NSE?

Please do share the experience, may be we could both develop such software.

Regards
Arsh

 

[4xpipcounter]

There is no doubt that trading is a lucrative profession.
The thing is all traders have to have a fully developed methodology to trade by. What I mean by that is a methodology that is their own and produces consistent profits.
Next, they need to have solid margin management practices.
Those 2 things should be fully developed on a practice trading account before the trader goes live. Once everything is clicking, then go live, and you will know if you have mastered the mental aspect. Fear and greed have a way of predominating once real money is on the line.
Trading is my job, and believe me, I love it!

Sometimes I think, if Trading is a profession.... ????

 

[4xpipcounter]

Arsh, I have been trading for 6 years, and I have yet to ever see any kind of a black box system that works, nor do I know anyone that has used one and makes consistent profits. It is my opinion they are popular because many people don't like the idea of work, so they want something easy.
BTW, I trade forex. It is all I'm interested in trading, even though my methodology works in all markets.

hi WallStreettrader,

I liked your strict discpline, 90-95% of the traders/investors loose mony because they are not disciplined and get emotional with the trades.

Even I am thinking of a software which could place autimatic orders, but i am not sure if this can be done; although this is already possible in forex market.

Did you do any research on such algorithmic trading on NSE?

Please do share the experience, may be we could both develop such software.

Regards
Arsh

 

[jagankris]

Dear 4xPipCounter,

Six years trading that too in Forex :thumb: :clapping:

I am relatively new to full time day trading.Planning to make this as my career and I loooooooooooooooooove trading
I am struggling to find indicators/logic to filter the sideways zone/No trade zone for day trading.Please share your experience and advice.

TIA.

Best Regards,
JK

 

[NOMINDTR]

Hi to all,

I am doing small level trading for the past 2 years.... along with my current IT job...

Would like to know is there people doing trading on a daily basis as profession... and also is there any people who have quit there jobs for the sake of Trading...???

For the past few months, the thought of quitting my current job and to take up trading more seriously is crossing my mind.... so thought of getting all your expertise and advices....

Please offer your views...

Thanks..

Shaju..

Shaju,

Sorry if I have missed some good, relevant posts in the thread. I second Saint's opinion. Know yourself, know the markets and take a decision. It is YOU should tell us whether you could quit your job and could become a full timer in markets

Good wishes