Trading as Profession

redsea · #41 1st February 2008, 10:28 PM

Hello All
I was doing Real Estate business for past couple of years, the benefit i can see in Share Market that if you would like to retire or withdraw your funds you can do so easily, but like real estate business you will have to wait for the time for everything and lots money you need to spend for the legal way to do real estate, as my opinion that share market is much safer than any business if you plan well. Even i lost much money during the market crash but still I am confident better than my real estate business.

Many people affected during the crash including myself but i have just compared the incident like Tsunami how many people become homeless, died and lost all their wealth and i should say i am still better.(Thanks God)

Just think positive Indian Companies are doing well hopefully we will be back to track (sorry for my bad grammar)

Thanks
Redsea

bhaveshdj · #42 2nd February 2008, 12:03 PM

If you are a trader and not an investor and have a good system and discipline, a crash like current one is the best time to make money.
The catch is to watch position sizing, take small loss, and not to carry positions overnight during such periods.

And if you are an investor, then such a crash will have even less effect on you as in long term, you will surely make money, and there is no need to liquidate positions in such situations.

Traders make money, investors make money, indisciplined and learning traders/investors like me lose money. So first you have to decide whether you are a trader or investor. Then you have to make a detailed business plan and have the confidence to stick to it.

Shishya · #43 2nd February 2008, 10:25 PM

Quote:

Originally Posted by bhaveshdj

If you are a trader and not an investor and have a good system and discipline, a crash like current one is the best time to make money.
The catch is to watch position sizing, take small loss, and not to carry positions overnight during such periods.

And if you are an investor, then such a crash will have even less effect on you as in long term, you will surely make money, and there is no need to liquidate positions in such situations.

Traders make money, investors make money, indisciplined and learning traders/investors like me lose money. So first you have to decide whether you are a trader or investor. Then you have to make a detailed business plan and have the confidence to stick to it.

Once trading becomes boring, u know u are in...

sanx · #44 2nd February 2008, 10:44 PM

One thing I want to know is ,many ppl recommends to have a good broker .That means web based brokers like ICICI ,reliance money or sharekhan will not do good ? , you need to have dedicated trading software one your comp ? or broker meaning ,a person who you call and place the orher ? sorry for such newbie questions .

BTW great thread , keep it open .

bhaveshdj · #45 2nd February 2008, 10:55 PM

very true shishya.

sanx, you dont need good broker, infact you should tell your relationship manager etc that you do your own research and are not interested in 'tips'.
I trade using indiabulls and rmoney and both are good. i mostly use rmoney for low brokerage.
I daytrade nifty futures and options.

sanx · #46 2nd February 2008, 11:30 PM

Thanks bhavesh.

So you mean to say that for a portals like ICICI or RM is good enough is for day trading ?
you see me getting all the things right to trade . Still long way to go and lots of things to learn . With ppl like you ,saint ,CV,ashish and many more , I hope so I will succeed some day and don't have to hit office anymore .

ratan jain · #47 3rd February 2008, 12:08 AM

Quote:

Originally Posted by sanx

Thanks bhavesh.

So you mean to say that for a portals like ICICI or RM is good enough is for day trading ?
you see me getting all the things right to trade . Still long way to go and lots of things to learn . With ppl like you ,saint ,CV,ashish and many more , I hope so I will succeed some day and don't have to hit office anymore .

Hitting office is going to be much simpler for u ...... compared to trading for a living

id4vikas · #48 3rd February 2008, 12:41 AM

Just to say Thanks to seniors for their kind words in this thread.

CreditViolet · #49 3rd February 2008, 11:53 AM

Quote:

Originally Posted by ratan jain

Hitting office is going to be much simpler for u ...... compared to trading for a living

Speaking from experience Mr.IWillSoonBeLeavingTheForum ?

biyasc · #50 4th February 2008, 11:09 AM

[quote=uasish;150901]Trading is the only source of Income for few of our members & am doing it since 6 yrs only.This path initially is difficult to adjust with,mounting losses will Tell on you,family responsibility has to run smoothly while you may be on the verge of bursting from the seam.A balanced cool head with single most focus & lots of mid night oil burning capacity can only bring you out from the pits.
A simple trading system,patience , conviction to act at right opprtunate moment,with agressive trade management are few skills which will automaticaly develop on process.
When a Big Win & continuous small Loss becomes a non event after some time ,with an adrenaline detached approach ,then you will come to know that it was indeed a nice decision to choose this as Living.[/QUOTE]

hi asish, can you explain this in details with some statistics?