Trade or not to\ to make a living:

I

indsud

New Member
#1
#1
I am pulled to the forum, this is my first time to wite: I have never participatd in such forums nor was reading such news

I lost job and not young enough to get re appointed in the capacity I was employed, openings are not coming and still waiting to start some earnings.

So here I am looking for informations to find a way to trade and earn (ofcourse not at all time, I know, becz many have lost and still loosing). I want to join to this stream but trying to get hold of and stop loosing, as I already lost major portion of my savings more, than 3 lakh. Left with another 1 lakh to test the depth of water and go invisible or be around and continue if I could save this money and continue to trade and earn.

I just was follwoing ICICIdirect.com Iclick to gain and lost all what I explained above. Reason I believe I am slow in placing order and get expected result or I am getting their tips after the event has happened.

So I am looking for any info which could give a timely call to buy /sell and work around with stop loss as well book profit.

I am a beginner, lost heavily by trading in Margin as well in futures.

If any one could take me throgh to acheive my trading goal " earn a decent 3000 to 5000 a day and I am prepared to take a loss only 10 or 20% of my earnings on a bad day

If I have to suscribe or enrol to any such forum or pay for theirs service I am prepared

Guide me through and make me a good trader to earn a decent salary
 
S

spiritunit

Well-Known Member
#2
#2
Hi and welcome,

Definitely you can earn 3000-5000 per day with 1 lakh of capital, but loosing 10% in a day may end your trading with 10 bad days, so better learn basic things before expecting big returns.

Start with small capital and do some real trade expecting a small profit or loss, the purpose is to learn how things are going and you get experience on it.

Visit this forum quite regularly, some well experience trades are here and updating daily tips and strategies, that works. Share market trading is surrounded with individual capacity and capability.
 
I

indsud

New Member
#3
#3
Hi,

many thanks for your reply as well advise

I will always keep these words in mind and start in a small way of doing investment and try it out

What I mean when I wrote I am willing to loose 10 -20% meaning while I start earning 80-90 % time, I can afford to take risk of loosing 10-20% of it. Hope I am clear

In order to acheive my goal of earning 3-5000 a day, I can't just decide which share to trade to give me financial goal

I appreciate if any one could assist and support while looking for such help

Good day

Indsud
 
A

AW10

Well-Known Member
#4
#4
IndSud, if you are serious about earning consistently as a trader, then my sincere suggestion is to spend time and learn what trading is all about. putting order to buy/sell based on tips or gut feel will not give u consistent results (it might certainly give u few wins here and there, but the loss in one trade will take away profits of many such wins).
Trading is one of the toughest profession to master. So start with good foundation and build it up gradually with your actions.
Major part of trading success comes from right trading psychology (which is far different from the way normal human mind thinks and acts), risk management, discipline, patience, profitable trading system that meets your own personality + yr constraints of time, money etc and your ability to correct own mistakes,

Like any other profession, trainees don't get paid very well. infact they need to work for free or even pay to get the knowledge and experience. But once they overcome initial barriers and learn the profession, they start getting rewards. And trading is no different.
IMO, anybody can become consistent profitable trader..provided they take the profession seriously and not as quick-money-making profession.

Sorry if my reply is not what u were expecting. But, I am trying to give realistic picture of trading, I have been there and made all the mistakes that any trader could make.. and not just once but many times.. (and still continue to make mistakes). Being right 100% of the time is not possible here. So we need to master the craft of making mistakes and pay less for them.. and go all aggressive and collect as much as possible when market is rewarding us..

Plz go thru beginners section on this forum. There are some great stuff available for new trader. If you are new to chart reading, making confident decision of current trend etc then do chk out "Teach a man to fish.." thread.

All the best and to your trading success.
Happy Trading
 
Last edited:
VJAY

VJAY

Well-Known Member
#5
#5
AW10 said:
IndSud, if you are serious about earning consistently as a trader, then my sincere suggestion is to spend time and learn what trading is all about. putting order to buy/sell based on tips or gut feel will not give u consistent results (it might certainly give u few wins here and there, but the loss in one trade will take away profits of many such wins).
Trading is one of the toughest profession to master. So start with good foundation and build it up gradually with your actions.
Major part of trading success comes from right trading psychology (which is far different from the way normal human mind thinks and acts), risk management, discipline, patience, profitable trading system that meets your own personality + yr constraints of time, money etc and your ability to correct own mistakes,

Like any other profession, trainees don't get paid very well. infact they need to work for free or even pay to get the knowledge and experience. But once they overcome initial barriers and learn the profession, they start getting rewards. And trading is no different.
IMO, anybody can become consistent profitable trader..provided they take the profession seriously and not as quick-money-making profession.

Sorry if my reply is not what u were not expecting. But, I am trying to give realistic picture of trading, I have been there and made all the mistakes that any trader could make.. and not just once but many times.. (and still continue to make mistakes). Being right 100% of the time is not possible here. So we need to master the craft of making mistakes and pay less for them.. and go all aggressive and collect as much as possible when market is rewarding us..

Plz go thru beginners section on this forum. There are some great stuff available for new trader. If you are new to chart reading, making confident decision of current trend etc then do chk out "Teach a man to fish.." thread.

All the best and to your trading success.
Happy Trading
Click to expand...
Dear AW10,
Nice explanation and advice to an beginner.......If I got these type of advices in my early days of trading then am not loss my hard earned money (about 5 lacs)....now am trying to make it back drops by drops.....
dear indusund....you are lucky man to visit this forum and you can get worlds best advices from here TJ...if you can make it then you are a successfull trader.......best of luck and happy trading....
 
A

AW10

Well-Known Member
#6
#6
Thanks Vijay.. I have also gone thru the phase of loosing big amount to market. I think, that is important phase of the development of a trader.

I know that now u are very different type of trader so it is just matter of time.. (maybe another bull run or another crash) when ur equity curve will be heading upward then. Best part is that we never miss a bus in the market. It is always filled with opportunity.

Happy Trading
 
amrutkumar

amrutkumar

Active Member
#7
#7
Hi,

I will post a couple of Links for threads from which you can learn the basics. There are lots of other threads which can help you, this might just give you the initial push. Hope it helps.

http://www.traderji.com/technical-analysis/33021-technical-analysis-beginners.html

http://www.traderji.com/beginners-guide/23815-absolute-beginner-guide.html

http://www.traderji.com/technical-analysis/7997-teach-man-fish-compilation.html

http://www.traderji.com/beginners-guide/9373-new-members-please-read.html

http://www.traderji.com/general-trading-investing-chat/31474-hidden-gems-traderji-com.html

http://www.traderji.com/technical-analysis/6072-teach-man-fish.html

http://www.traderji.com/words-wisdom/5-20-golden-rules-traders.html

Thanks,
amrut
 
K

kakisatya

New Member
#9
#9
amrutkumar said:
Hi,

I will post a couple of Links for threads from which you can learn the basics. There are lots of other threads which can help you, this might just give you the initial push. Hope it helps.

http://www.traderji.com/technical-analysis/33021-technical-analysis-beginners.html

http://www.traderji.com/beginners-guide/23815-absolute-beginner-guide.html

http://www.traderji.com/technical-analysis/7997-teach-man-fish-compilation.html

http://www.traderji.com/beginners-guide/9373-new-members-please-read.html

http://www.traderji.com/general-trading-investing-chat/31474-hidden-gems-traderji-com.html

http://www.traderji.com/technical-analysis/6072-teach-man-fish.html

http://www.traderji.com/words-wisdom/5-20-golden-rules-traders.html

Thanks,
amrut
Click to expand...

Thanks alot Amrut, such a good links.
 
I

indsud

New Member
#10
#10
Many thanks for your help and useful info

I was away from forum aswell from trading for a brief time and now I am back but again for couple of days

In the mean time thanks again

Indsud
 
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