Hi ganeshams,
Here is my advise.
First - Since you are working in a MNC, so you may be drawing some good salary (I assume). Now you want to take Trading as your profession, so initially you may not get good profit and it may take minimum 6 month to One year considering only the positive aspect only. So the first assumption is definitely favouring your current scenario.
Second - One of the reason to leave your job is work pressure. Please tell me a business / job where you do not find any work pressure. In fact in every field, work pressure is high and it rises with the the hike in salary/income.
Third - You said you have strong fascination towards market. But when you join the IT field, I think it was not your compulsion but your fascination towards IT field. Generally, in our middle class society, apart from Govt. jobs, We are more inclined towards IT job as it gives high salary, more prestige, chance to travel more countries and of course more social contacts. So the fascination automatically develops towards this field. But in case of trading, it is completely a lonely job. Gradually you will cut off from the society so you have to do some extra effort to maintain these relationship.
Fourth - Trading is the most hardest profession I have seen in my career. In fact I think, there is one winner in 1,00,000 trader. Even if you make consistent profit for two years, there is no guarantee that you will make profit in the third year.
Fifth - In trading, each and every new position is a potentially mine field. So every position has the capability to potentially wipe out all your trading capital unless you take some rigid money management position. Again there is a saying in the market i.e. " Don't be emotional". But in fact, it is more subjective than objective. Since we are all human being that itself implies that we are emotional. How much caution you take, you are bound to make some emotional blunder at some point of time. But the trick is how quickly you rectify that blunder is entirely depend on you.
Sixth - Since you are talking about some part time job for some additional income (I don't know how much). It is ok but when you incur any loss in trading then it will start affecting your part time job also.
Seven - Once you start trading as a full time job, then definitely it will be very very difficult for you to switch from trading to your profession. In early part of the trading,in case of any adverse situation,you may switch immediately but as day passes it will be much harder.
Eight - My advise is continue with your current job and go for investment in equity market. Always wait for a blood bath to happen in the market. Then enter in the market in two consecutive days one in the blood bath day and another one is the next day. Each day your commitment should be 50% of a position and all are delivery based and in CNX 100 scrips including Nifty Fifty. Such type of situation generally occur in every 2-3 year gap. Within 12-15 year time frame you will earn so much profit even you can not think in your wildest dream. At the time of entry, your scrip should belong to (CNX100 + CNX Nifty) and it must come down by 85% to 90% from its 52 week high. Your time frame should be from six month to one and half year.
Nine - Still if you can not resist your temptation towards trading, then experiment it for six to nine month time frame with complete dedication as you have already had some past experience in trading. Do not compromise on equipment side like laptop, two broadband connection, one extra monitor and good data vendor (updation should be fast and data should be reliable). Don't take money from others and it should be your money. In case of any failure, keep six months monthly expenditure as back up money. If succeed (monthly profit should be at par with your current salary) consistently then you may think about continuing, otherwise immediately switch over to your parent profession. In case of loss and other expenditure, don't even think about to recoup your loss. Simply forget it as a bad phase.
Ten - Whatever I am telling here is based on a assumption that you are a casual trader with a full time job in another different field. Since you have made some profit in the market, that generates more interest towards market.
Wish you a best of luck.
Here is my advise.
First - Since you are working in a MNC, so you may be drawing some good salary (I assume). Now you want to take Trading as your profession, so initially you may not get good profit and it may take minimum 6 month to One year considering only the positive aspect only. So the first assumption is definitely favouring your current scenario.
Second - One of the reason to leave your job is work pressure. Please tell me a business / job where you do not find any work pressure. In fact in every field, work pressure is high and it rises with the the hike in salary/income.
Third - You said you have strong fascination towards market. But when you join the IT field, I think it was not your compulsion but your fascination towards IT field. Generally, in our middle class society, apart from Govt. jobs, We are more inclined towards IT job as it gives high salary, more prestige, chance to travel more countries and of course more social contacts. So the fascination automatically develops towards this field. But in case of trading, it is completely a lonely job. Gradually you will cut off from the society so you have to do some extra effort to maintain these relationship.
Fourth - Trading is the most hardest profession I have seen in my career. In fact I think, there is one winner in 1,00,000 trader. Even if you make consistent profit for two years, there is no guarantee that you will make profit in the third year.
Fifth - In trading, each and every new position is a potentially mine field. So every position has the capability to potentially wipe out all your trading capital unless you take some rigid money management position. Again there is a saying in the market i.e. " Don't be emotional". But in fact, it is more subjective than objective. Since we are all human being that itself implies that we are emotional. How much caution you take, you are bound to make some emotional blunder at some point of time. But the trick is how quickly you rectify that blunder is entirely depend on you.
Sixth - Since you are talking about some part time job for some additional income (I don't know how much). It is ok but when you incur any loss in trading then it will start affecting your part time job also.
Seven - Once you start trading as a full time job, then definitely it will be very very difficult for you to switch from trading to your profession. In early part of the trading,in case of any adverse situation,you may switch immediately but as day passes it will be much harder.
Eight - My advise is continue with your current job and go for investment in equity market. Always wait for a blood bath to happen in the market. Then enter in the market in two consecutive days one in the blood bath day and another one is the next day. Each day your commitment should be 50% of a position and all are delivery based and in CNX 100 scrips including Nifty Fifty. Such type of situation generally occur in every 2-3 year gap. Within 12-15 year time frame you will earn so much profit even you can not think in your wildest dream. At the time of entry, your scrip should belong to (CNX100 + CNX Nifty) and it must come down by 85% to 90% from its 52 week high. Your time frame should be from six month to one and half year.
Nine - Still if you can not resist your temptation towards trading, then experiment it for six to nine month time frame with complete dedication as you have already had some past experience in trading. Do not compromise on equipment side like laptop, two broadband connection, one extra monitor and good data vendor (updation should be fast and data should be reliable). Don't take money from others and it should be your money. In case of any failure, keep six months monthly expenditure as back up money. If succeed (monthly profit should be at par with your current salary) consistently then you may think about continuing, otherwise immediately switch over to your parent profession. In case of loss and other expenditure, don't even think about to recoup your loss. Simply forget it as a bad phase.
Ten - Whatever I am telling here is based on a assumption that you are a casual trader with a full time job in another different field. Since you have made some profit in the market, that generates more interest towards market.
Wish you a best of luck.
