Is it possible to become rich by trading

[mutualguru]

In your poll you are asking both opposite questions in same sentense "Is becoming rich by trading a reality or fantasy" . Ask one question like "Is it possible to become rich by trading" as you have done in the caption of the thread.

Smart_trade

Hey thanks for pointing out the mistake but I believe i cant now change the poll title

 

[deadbrain]

I am starting this poll to find out whether a retail investor(a common man) becoming rich by trading in indian market is a fantasy or reality. This voting is for those people who have become rich themselves by trading or knew those traders personally who became rich by trading.

Please no guess votes and also don’t consider famous personalities like Rakesh Jhunjhunwala

Yes, Of Course, one can become rich by trading. All you need to be is Super Rich. :rofl::rofl:

 

[Somatung]

Do we need to become rich by trading or would it be fine if we just can finance our life, may even our employees and company by doing trading?

 

[valuetrader]

Yes it is possible but not an easy job, takes a lot of dedication and hard work. Try to perform with consistency. Set weekly target for x amount. YouTube risk management and trading psychology. Last 9-12 weeks ive been performing good with these tools. Oh and I high recommend practicing meditation and gyming. Tremendously has helped my trading and general life.

 

[hmp]

Yes it is possible but not an easy job, takes a lot of dedication and hard work. Try to perform with consistency. Set weekly target for x amount. YouTube risk management and trading psychology. Last 9-12 weeks ive been performing good with these tools. Oh and I high recommend practicing meditation and gyming. Tremendously has helped my trading and general life.

Dear Valuetrader will you pl.give us YouTube link?
Regards

 

[Fundootrader]

Any examples of people (not names - but simple reference xyz) with starting capital, trader type (commodity/fno/value investor), duration being investor - will help boost sentiment - There is dearth of public info in Indian domain about successful investors

People who grow rich dont get their riches from just one source. They will have trading, investments, fixed income, mutual funds and real estate in their portfolios.They create multiple income sources and they are not dependent on just one income stream.

So they start with trading with small capital, trade successfully, invest part of their earnings in growth stocks, then invest in mutual funds and real estate in their wealth building phase. After that comes wealth preservation phase in which they also include fixed income securities and mutual funds in their income streams....but all that is created from trading income. This is practically possible, no daydreaming, it is done by many and being done by many traders.

Buying Infy or Wipro ,Eicher Motors or Bosch at the start alone should not be considered as only way to make wealth. How many could identify these stocks when they were unknown....so buy them after they have proved their worth and they get onto the growth path and still continue on a growth path.

If a trader makes Rs 50-60 K in trading and spends 25 K and remaining 25-35 K per month is put in any investment avenue which gives him 16-18 % CAGR....in 15-20 years he can be rich...but if one wants to be rich in 2 years then be prepared to rags to riches to rags to riches and again rags roller coaster many times in those 2 years and 95-98 % will end up blowing up all the money they have. "Slow and steady wins the race " is true in trading and investments too....being rich takes time,patience and hard work.

If anyone after 4-5 years of trading has a doubt about whether wealth can be made from trading then it is better that he switches over to any other profession/ business before it gets too late ,because one has to first believe what one wants to achieve.

Smart_trade

 

[vijayanscbe]

I know a 10th grader who starts his life with a petty shop and now he is running a multi storey super market.
Another person collects scrap metals in sacks, carried by bicycle and now he owning four lorries to collect the scarp metals.

But not all the petty shopers and scarp metal sellers not flourished into BIG RICH...... WHY?

If you find the answer for the WHY?
You will know the answer for you Q "Is it possible to become rich by trading".