What is the Risk for becoming a Trader.

neomustdie · #11 17th February 2008, 07:04 PM

rightly said... i guess i have blown away near 3 lakhs in past 2 years since i got employed.... to some extend it was reasonable but not 3 lakh.....

although no addiction touches me, except tasty food..... i went crazy, toured amsterdam, paris, vienna, stockholm, dubai... shopped till i drop, expensive mobiles, bikes, and lots of computer upgrades...... frankly not all were justified.....

At the end i had only saved the 1 lac for tax purposes.... now since i need to get married in a year to my long time sweetheart, i am starting to think straight and saving money....

i have been able to build up a portfolio of close to 1 lac now... and i am newbie and learning every bit of it..... i have already lost close to 5k in day trading but in the process learned how to do it and it was worth it..... i am able to say i knew zero of stockmarket 2.5 weeks before.... it all started with reliance power ipo hype..... now i understand most concept and learning the techniques used by experts here in my spare time....

i liked the saying "ITS VERY RISKY TO NOT TAKE ANY RISK" hence i would say best way is take calculated risk. i lost in day trading solely because i didnt not used stoploss that particular day..... it a no no thing....

just wanted to share my experiences with you helpful guys....

Quote:

Originally Posted by sanx

ashish one more good thread among countless threads , lets make it sticky .
I am amazed and equally interested in how people make money out of stock market .
I want to learn as much as I can and keep learning in future at the same time start very small and make it big later.
I am willing to risk a small amount of my hard earned money for it .
Many ppl smoke ,drink and blow up money like anything . At least I am doing it to learn something . I don't want to try it to loose money , but I also don't want to feel bad ,10 -20 years from now ,that I could have tried and was successful.But I will be eventually be

.
The Risk might be , I might loose some money ,I know my risks .

uasish · #12 17th February 2008, 07:31 PM

neomustdie,

"ITS VERY RISKY TO NOT TAKE ANY RISK" ; Capital Mkt is a place where people always trade with "Calculated Risk".
There are people who MAY not know the extent of this Risk & trade profitably upto some time & there may be people who knows & trade un-profitably.
Before plunging 1 should know.Even the Risk Appetite varies from people to people (quite evident from your above post).
Survival is most imp.

Asish

N.B. Being in this Trade for some time to see all kind of Money Come & Vanish & few also Flourish ;incidentally on 22nd a Kolkata Guy related to the family of a renowned Shoe brand here ,lost 56 Lacks.

neomustdie · #13 17th February 2008, 07:57 PM

Quote:

Originally Posted by uasish

neomustdie,

N.B. Being in this Trade for some time to see all kind of Money Come & Vanish & few also Flourish ;incidentally on 22nd a Kolkata Guy related to the family of a renowned Shoe brand here ,lost 56 Lacks.

****.... that's huge money man...!!! i think the scalping technique works the best.... what i plan to do is....

1. use a certain limit for day trading (as of now its 10-20k will increase gradually to 40k no more)
2. enter every trade with stoploss. thus limiting my losses
3. as gain occurs increase stoploss to seal it.
4. each day transfer my gain to account and start with same amount of money. enter only known scripts and control emotions. If i lost a good entry point, will wait for later time / next day.

that said a friend of mine loss 56k in an hour when his stoploss was breached and the value dropped to 30 points below suddenly....

any other precaution..??? i also plan to use the BTST, short term and long term investment... thanks to all expert advice i find here...

uasish · #14 17th February 2008, 10:21 PM

neomustdie,
As you have allowed to SUGGEST,& at least my post count is more so in that aspect senior .

Is it necessary that you HAVE to day-trade ? Plz trade based on EoD data .Many a people term it as Swing Trading.

Asish

uasish · #15 17th February 2008, 10:45 PM

neomustdie,

Regarding your this portion of the earlier post
" ****.... that's huge money man...!!! " ,
in respect to Indian Capital Mkt ,the guy is only 1 HNI amongst a HUGE list of HNIs available with exchange.

Asish

neomustdie · #16 17th February 2008, 11:25 PM

consider myself amongst the lowest grader here...

yes ashish, i think day trading is more risker for me because...
1. i don't have speedy connection at office and no chance for custom software installation
2. i am not strong on the techniques and tools used by experts, still learning TA

By swing trading due u mean buying at EOD and sell tomorrow morning or 2-3 day later at around 5% gain or less..... ???

And yeah HNI, they makes the market move their way... they form the sharks, and we are the lucky small fishes to thrive on their residuals if we can monitor their paths....

i like members like you and respected other experts who help us giving tips and also tools, techniques to learn and follow their path to trade by discipline...

uasish · #17 18th February 2008, 12:16 AM

"consider myself amongst the lowest grader here..."

I was at that catogory only,just been promoted to next category recently.

"By swing trading due u mean buying at EOD and sell tomorrow morning or 2-3 day later at around 5% gain or less..... ???"

With 3-5% Gain (after adjusting brokerages) can be next day or few days until Stop Loss Hit.

amarnath · #18 19th February 2008, 05:23 PM

Quote:

Originally Posted by neomustdie

****.... that's huge money man...!!! i think the scalping technique works the best.... what i plan to do is....

1. use a certain limit for day trading (as of now its 10-20k will increase gradually to 40k no more)
2. enter every trade with stoploss. thus limiting my losses
3. as gain occurs increase stoploss to seal it.
4. each day transfer my gain to account and start with same amount of money. enter only known scripts and control emotions. If i lost a good entry point, will wait for later time / next day.

that said a friend of mine loss 56k in an hour when his stoploss was breached and the value dropped to 30 points below suddenly....

any other precaution..??? i also plan to use the BTST, short term and long term investment... thanks to all expert advice i find here...

scalper loose shirts

beginner_av · #19 19th February 2008, 09:20 PM

Quote:

Originally Posted by amarnath

scalper loose shirts

Hope they have a good body to flaunt!

beginner_av · #20 19th February 2008, 09:24 PM

Quote:

Originally Posted by neomustdie

****.... that's huge money man...!!! i think the scalping technique works the best.... what i plan to do is....

1. use a certain limit for day trading (as of now its 10-20k will increase gradually to 40k no more)
2. enter every trade with stoploss. thus limiting my losses
3. as gain occurs increase stoploss to seal it.
4. each day transfer my gain to account and start with same amount of money. enter only known scripts and control emotions. If i lost a good entry point, will wait for later time / next day.

that said a friend of mine loss 56k in an hour when his stoploss was breached and the value dropped to 30 points below suddenly....

any other precaution..??? i also plan to use the BTST, short term and long term investment... thanks to all expert advice i find here...

Precaution? Lots my friend (as Saint would say). Well for some unfriendly talk.

You think? that means you DONT KNOW. What makes you think?

Stoploss limiting losses? How much? And how accurately?

Transfer gains? Great! And as loss occurs? where do you replenish it from?

How would you control emotions? And how do you know that YOU WOULD control emotions?

Just some unfriendly talk.