Alternative income for a trader

[lemondew]

Fellow traders can help. Feel free to correct or share more information.

As per statistics only 5% traders make consistent profits. It takes anwhere between 3 -6 years for trader to become consistent.Some may take more time.

Till those 3 to 5 years traders may not only have income but may loose money. So hes loosing some money in markets and spending money on day to day expenses. So capital loss.

A trader has good knowledge on technical analysis, price action, best broker, trading platform, fundamental analysis, finance news, company information, global news, logical mind and other important domain knowledge.

What options for a trader if he isnt making money as planned in 1 or 2 years time and would need more time?


1. Becoming a mentor: Saint started TSF.Munde_77 trains So can we. What would be difficulties here

2. Making software : Programmers can make some programs which doesnt exist which will serve fellow traders needs and charge a small fee. We have many RTD and other free apps here. Small fee software

3. Becoming a sub broker : For motilal oswal, nirmal bang and others. Mostly all brokers have this program. Enrol customers with broker and make some income. Even zerodha provides some cut for

refering customers. Also provide customers with some tips. Manage his money

4. Provide tips service : Sebi has made it difficult.

5. Promote other services: Promote other brokers/ softwares or services and earn a commission

6. Work with funding companies: Topstep trader for US markets, asiatic for nse

7. Collect funds from non finance guys and trade on their behalf and take portion of profits

8. Get into a fulltime job and comeback to trading later

 

[Subhadip]

Fellow traders can help. Feel free to correct or share more information.

As per statistics only 5% traders make consistent profits. It takes anwhere between 3 -6 years for trader to become consistent.Some may take more time.

Till those 3 to 5 years traders may not only have income but may loose money. So hes loosing some money in markets and spending money on day to day expenses. So capital loss.

A trader has good knowledge on technical analysis, price action, best broker, trading platform, fundamental analysis, finance news, company information, global news, logical mind and other

important domain knowledge.

How a trader can make some money while hes learning?


1. Becoming a mentor: Saint started TSF.Munde_77 trains So can we. What would be difficulties here

2. Making software : Programmers can make some programs which doesnt exist which will serve fellow traders needs and charge a small fee. We have many RTD and other free apps here. Small fee

software

3. Becoming a sub broker : For motilal oswal, nirmal bang and others. Mostly all brokers have this program. Enrol customers with broker and make some income. Even zerodha provides some cut for

refering customers. Also provide customers with some tips. Manage his money

4. Provide tips service : Sebi has made it difficult.

5. Promote other services: Promote other brokers/ softwares or services and earn a commission

6. Work with funding companies: Topstep trader for US markets, asiatic for nse

7. Collect funds from non finance guys and trade on their behalf and take portion of profits

I have also taught some guys, though not at all qualified like Saint Sir & Munde Sir.

Last point is not valid as he is learning, if he can not manage his own how he is expected to do for others?

 

[Subhadip]

After seeing option given in above poll, I would like to ask u one question...

WHY?

Is not only trading a very good option?

 

[pannet1]

I have also taught some guys, though not at all qualified like Saint Sir & Munde Sir.

Last point is not valid as he is learning, if he can not manage his own how he is expected to do for others?

Exactly.

One of my friend was making fun of his wife who was running a beauty parlour. You ask what's funny. Her face is full of pimples and she claims to make all clear of pimples :clap:

Most of us were trading part time while working in a full time job. Then they have confidence and start full time.

Your view is the other way around. Anyways worth exploring.

 

[Subhadip]

Exactly.

One of my friend was making fun of his wife who was running a beauty parlour. You ask what's funny. Her face is full of pimples and she claims to make all clear of pimples :clap:

Most of us were trading part time while working in a full time job. Then they have confidence and start full time.

Your view is the other way around. Anyways worth exploring.

Managing small capital and big capital both different ball game my dear friend.

Not to offend anyone. Just my observation

 

[lemondew]

Trading is a good option if you turn profitable. Else what do think a person should do if he isnt making profit after 3 years

It may take 4-5 or 10 years of time. Are you suggesting a person should trade only if he can live comfortable without earning anything from trading for 5-8 years and dont mind loosing some money in process. I dont think people come with that mindset. And whether we like it or not all the above listed options are happening and its all done for money

After seeing option given in above poll, I would like to ask u one question...

WHY?

Is not only trading a very good option?

 

[lemondew]

you r saying dont do full time trading till ur profitable. Thats another option I think I should add. Many jobs take up ur whole time and energy. Difficult to learn trading by working from an office?

Exactly.

One of my friend was making fun of his wife who was running a beauty parlour. You ask what's funny. Her face is full of pimples and she claims to make all clear of pimples :clap:

Most of us were trading part time while working in a full time job. Then they have confidence and start full time.

Your view is the other way around. Anyways worth exploring.

 

[Subhadip]

Trading is a good option if you turn profitable. Else what do think a person should do if he isnt making profit after 3 years

It may take 4-5 or 10 years of time. Are you suggesting a person should trade only if he can live comfortable without earning anything from trading for 5-8 years and dont mind loosing some money in process. I dont think people come with that mindset. And whether we like it or not all the above listed options are happening and its all done for money

In trading there are many options which are safe (basically risk free).

U can do it easily,. then along with that learn trading...

 

[pannet1]

you r saying dont do full time trading till ur profitable. Thats another option I think I should add. Many jobs take up ur whole time and energy. Difficult to learn trading by working from an office?

Trading part time has two main cons acc. to me.

1) It is not ethical. If I cheat my employer then most probably i loose money.

2) If I am confident why not put 100% effort on it.

Ideally I should successful in trading and of course doing anything related it later is most welcome. In fact, that should be the way.

 

[Kashasathi]

sir I voted becoming a mentor and becoming a sub broker.
I know someone in my city who does so.He runs a small institute from home.He charges only 7k per student.Anyhow he manage to get 20 students per month.He teaches TA.
Those students open a/c with him as he gives 1-2 months live support.He taught 500+ students so far and he has 2000 clients.He trades too in wife's a/c.
Now his wife also take classes for female traders-housewife,mba graduates.

Sir i bet,They are making much more than any consistent trader in this forum