Trading as Profession

prams_aryan · #**101** 24th August 2008, 12:34 PM

I really gained lot of inspiration and information from all of you. Thanq very much for sharing and helping newbies like me.

rbisystems · #**102** 24th August 2008, 08:28 PM

trading is like OCEAN
its large, big, UNlimited resource
think u had jump into a sea without any thing then its great difficult to survive, until unless u had life guard(thats good financial back up)
r u should be good swimmer then u can take over the control........
so before going into trading u have to be prep
its unlimited resource of earning,
never be greedy
even if u wont earn a single penny,dont get supressed,
never loose single penny because
in market only money speaks than words...
every trading day u had change to earn /loose
be safe be perfect do well
this is my experinces in past trading life
i am just 23,i am be graduate,accepted trading as my profession
until now my trading teaches me many corrections/mistake
i feel earning in trading is Totally Legal,i love to trade
my suggesions:
always try to book small losses,
make profit on average,even if ur futur trder r else cash trader..
never try to book profit in every trading,when u think in that way 100% u will loose ur money,later ur emotions finally confidence
trade safe,make more gains

pulimath · #**103** 28th August 2008, 09:43 PM

[quote=Saint;149810]Hi Shaju,

I was a doctor by profession.......but the last many years have been trading for my daily bread.

To cut a highly tedious long story short,trading was my passion,medicine was my profession.Used to work mornings and trade the US markets in the nights......

Dear Saintji,

I am working in a bank and doing trading in small levels. Due to my nature os job I ma not able to do full time trading. I am following your threads and Teach a man to fish was very much informative and educative. Also 60 minutes flow trading I am following currently. I am interested in trading US markets during night time since during day time I am engaged in my job and is not possible to devote any time for watching the market.
Kindly let me know from where i can get the details of a good and affordable broking firm in USA and other related details.

thanking y

pulimath

Niks · #**104** 28th August 2008, 09:51 PM

I have just joined the forum. From my little experience, can't find any thread come close to Saint's. It does not only tells you good trading rules but also the discipline and money management required for profitable trading. There is hardly anyone willing to share real knowledge.Thanks.

Quote:

Originally Posted by pulimath

Dear Saintji,
I am working in a bank and doing trading in small levels. Due to my nature os job I ma not able to do full time trading. I am following your threads and Teach a man to fish was very much informative and educative. Also 60 minutes flow trading I am following currently. I am interested in trading US markets during night time since during day time I am engaged in my job and is not possible to devote any time for watching the market.
Kindly let me know from where i can get the details of a good and affordable broking firm in USA and other related details.

ChayanikaAcharya · #**105** 11th September 2008, 04:42 PM

This entire conversation thread has a high pedagogical significance.

shankarswami · #**106** 19th September 2008, 09:54 PM

great mails. i am an engineer, a business man. now trying hard to make trading a profession. let us work together to prosperity.

haribird · #**107** 21st September 2008, 03:14 PM

Rohangawale,

I was too started like that, enter without even knowing a bit about stock market.
I traded on icicidirect tips and just looking at the 5 ask/bid columns. Leveraged 10 times using icici margin plus, put all money with max leverage in all trades with greed. Lost more than(3.5 Lakhs) I have put to trade.

Went out with no more money to trade. Started thinking of my failures, analysed all my trading habits, discovered why I have failed.

Finally I realised that I was realy gambling rather trading in stock market.

Started learning technical + findamental analysis and various aspects of trading and investing in share market. Read a lot... Finally get set to trade profitably with 100% confidence of a net gain. As per my setup I only need 50% winning trades get a decent net gain.

Hari.

Quote:

Originally Posted by rohangawale

hi all,
very great thoughts from all members which will reallly help newbies like me,
i also left job and trading from last 6 mths, my entry was wrong as when i entered when mkt was 21k. but i was wrong mainly because i was not knowing abc of trading and i entered and i loose nearly 3.5lacks. i was believing in tips only. few days i earned and then i became greedy, i started trading in heavy volumes and started loosing heavily. then i realise tat this is not the way to trade as my intention is trading for living and this will not help me, then i started learning tech analysis and i started many other things which i was not doing earlier like, discipline, limited trade in a day, less intraday, less volumes, not believing on tips, etc etc.
as i have decided and left my job only for this purpose, i invested whole funds whicch i was having and today im having only 1/3rd of tat remaing in my pf. but as i have changed my trading stratergy now im confident tat i will recover all my losses from mkt itself and will earn a descent amt for my family and all monthly exps.
still im in learning phase and i have to do wery much .
all members pls guide how to go abt further.
thnx
what i think is there is no harm in leaving ur job and taking trading as professional as if we do it dedicatedly and with help of tech analysis, we will easily make what we use to earn in our job and can live good life with out job pressure.

pls guide

vpsarathy · #**108** 21st September 2008, 04:04 PM

friends,

Me too. Lost Rs2 lacs for doing daytrading without any preparation or knowledge. Put all the money I had used the facility of 1:4 given by sharekhan, trading 8 lacs. It took me 2 months to stop trading.

Luckily came across Saint's thread "teach a man to fish" and "60min flow" Went thru them diligently and as suggested doing paper trading last 2 months. Making reasonable profits almost every day too. There were days when I lost too. This is part of the game, No one has made money on all trading days.

I am gaining confidence and got rid of fear and greed, two main enemies.

Hope to enter with my own money from November. My advice - Donot enter daytrading without preparation. After this when you enter, enter small and slowly raise your trading money.

Importantly write down the rules you will follow. You should not deviate from them under any circumstances.

rohangawale · #**109** 21st September 2008, 04:16 PM

Dear Vpsarthy
very well said, all this are very small things but very very important to follow if we want to do trading for proffesion.

following simple things can lead us from major losses and then only we can face the market. else we will be out of game.

vpsarathy · #**110** 21st September 2008, 04:28 PM

Quote:

Originally Posted by rohangawale

Dear Vpsarthy

Rohangwale,
Very well said, all this are very small things but very very important to follow if we want to do trading for proffesion.

following simple things can lead us from major losses and then only we can face the market. else we will be out of game.

Senior have been we should treat this as business and thats the it should be. People tend trade as if it is a game of luck. Saint has shown that it is game where you give full concentration without any one disturbing you fromm 9.55am to 3.30 pm.

I changed my lifestyle. I have a heavy breakfast and lunch at 3.35 pm only even now during days of paper trading. Don't even attend to phone calls.

One has to learn a lot about product, the manufacturer, the market and about price fluctuations for a trading business. Similarly here too.

vps

The Following 2 Users Say Thank You to rbisystems For This Useful Post:
columbus (25th August 2008), rohangawale (20th September 2008)

The Following 2 Users Say Thank You to haribird For This Useful Post:
columbus (21st September 2008), rohangawale (21st September 2008)

The Following User Says Thank You to vpsarathy For This Useful Post:
VJAY (21st September 2008)

The Following User Says Thank You to rohangawale For This Useful Post:
vpsarathy (21st September 2008)