Hello all,
Wonderful topic to discuss and some wonderful insights as well. Thanks for the same.
I had a full time job high paying job until a few months ago. Lost the job due to uncertain world economy. Now I'm a full time trader with wife, kids and parents to support. It was a tough call for me to make. I had the option of going out there and choosing an easy way out by taking up another job. But I choose to rough it out bit in the stock market. When i started trading I blew up close to 6 lakhs of my capital in less than a month. I took my initial failure as lessons to keep for the rest of my life and the money I lost was the fees I paid for the education (Costly education i would say). But on hindsight and in may ways I am thankful that I lost the money and i failed because the lessons Ive learnt are invaluable. I think If I had been successful initially then maybe I would have become complacent and ended up blowing up a much larger amount later of in life. I'm glad I now stand where I stand.
And to answer the question thats been asked here... the answer is a big YES. There is not a thing in this world that can stop you from making money in the stock market. I have to tell you that I have never lost a single rupee in the market because of bad entry or trading in a bad stock. I lost my money simply because my emotions were not in place. I didn't take profits when I saw them and I didn't cut my losses in time. Successful trading depends on STRICTLY these two things. TAKE PROFITS WHEN YOU SEE THEM AND CUT LOSSES IN TIME. You will learn other skills with time. There is no other way. We cannot predict the market all the time or if all the trades we enter will be in our favor. The odd are always stacked against us. So the 2 things i mentioned above will ensure you can come back to trade the next day.
Lastly, be positive. Only those people who think will win eventually win. A loosing attitude will always make you loose. There are no shortcuts to success. Work hard, learn the trade and save your emotions for your wife/girlfriend/kids etc. When you are trading stocks be cold as ice. Winning will become easier.
My thoughts only.
Wonderful topic to discuss and some wonderful insights as well. Thanks for the same.
I had a full time job high paying job until a few months ago. Lost the job due to uncertain world economy. Now I'm a full time trader with wife, kids and parents to support. It was a tough call for me to make. I had the option of going out there and choosing an easy way out by taking up another job. But I choose to rough it out bit in the stock market. When i started trading I blew up close to 6 lakhs of my capital in less than a month. I took my initial failure as lessons to keep for the rest of my life and the money I lost was the fees I paid for the education (Costly education i would say). But on hindsight and in may ways I am thankful that I lost the money and i failed because the lessons Ive learnt are invaluable. I think If I had been successful initially then maybe I would have become complacent and ended up blowing up a much larger amount later of in life. I'm glad I now stand where I stand.
And to answer the question thats been asked here... the answer is a big YES. There is not a thing in this world that can stop you from making money in the stock market. I have to tell you that I have never lost a single rupee in the market because of bad entry or trading in a bad stock. I lost my money simply because my emotions were not in place. I didn't take profits when I saw them and I didn't cut my losses in time. Successful trading depends on STRICTLY these two things. TAKE PROFITS WHEN YOU SEE THEM AND CUT LOSSES IN TIME. You will learn other skills with time. There is no other way. We cannot predict the market all the time or if all the trades we enter will be in our favor. The odd are always stacked against us. So the 2 things i mentioned above will ensure you can come back to trade the next day.
Lastly, be positive. Only those people who think will win eventually win. A loosing attitude will always make you loose. There are no shortcuts to success. Work hard, learn the trade and save your emotions for your wife/girlfriend/kids etc. When you are trading stocks be cold as ice. Winning will become easier.
My thoughts only.
