Is trading open to non full time traders also?

[madhu1983]

Hi,

I just read the thread by saint sir, and his quote
"Give a man a fish, you feed him for a day. Teach a man to fish and you feed him for a lifetime."
Yes, i am a software engineer (please dont hate me, i am not earning more then 20K) and already learned fishing, but our fish are already went into extinction and cant find more fish in our lakes, so i have to learn how to fish in another lake (trading)
I know some of your are laughing by this time and some feeling sorry and some worried, please kindly answer my questions
1. As I was currently working, i cant go for fulltime trading, can i learn trading while doing now and then, and watching and reading markets daily
2. Is intraday is preferrable for beginners
3. Is trading really preferrable for other professionals like me, so that, in future i can become a full time trader
4. how much amount is preferrable for a absolute beginner to start with. I want to start with 10,000Rs
5. how much can a good trader earn in a trading session on 10,000Rs (i am not expecting to earn more profits, earning 2% seems to be great for me)

I am still in learning stage so my questions seems to be dumb, but they are more valuable to me (i have seen a pic in one thread showing "i will google before asking dumb questions", that seems to be correct, but getting answers from real traders is more useful then articles, I hope)

Thanks,
Madhu

 

[madhu1983]

Thanks for your reply sir,
paper(dummy) trading seems to be really a genius idea to start for beginners

 

[Smart_trade]

Hi,

I just read the thread by saint sir, and his quote
"Give a man a fish, you feed him for a day. Teach a man to fish and you feed him for a lifetime."
Yes, i am a software engineer (please dont hate me, i am not earning more then 20K) and already learned fishing, but our fish are already went into extinction and cant find more fish in our lakes, so i have to learn how to fish in another lake (trading)
I know some of your are laughing by this time and some feeling sorry and some worried, please kindly answer my questions
1. As I was currently working, i cant go for fulltime trading, can i learn trading while doing now and then, and watching and reading markets daily
2. Is intraday is preferrable for beginners
3. Is trading really preferrable for other professionals like me, so that, in future i can become a full time trader
4. how much amount is preferrable for a absolute beginner to start with. I want to start with 10,000Rs
5. how much can a good trader earn in a trading session on 10,000Rs (i am not expecting to earn more profits, earning 2% seems to be great for me)

I am still in learning stage so my questions seems to be dumb, but they are more valuable to me (i have seen a pic in one thread showing "i will google before asking dumb questions", that seems to be correct, but getting answers from real traders is more useful then articles, I hope)

Thanks,
Madhu

Welcome to the world of trading......I am giving below the answers to your questions in the same serial order :

1) You can certainly learn about trading while working in a job.Try to learn technical analysis,probability,concept of risk/return and proper position sizing which is absolute must for anyone to succeed in trading.

2) Intraday trading is best left to experienced traders.....new traders are unlikely to succeed in this form of trading because it requires very sound understanding of market action, and one needs to be very fast in actions. Dont venture into it unless you are an experienced trader.

3)In trading one can make big money every month but it is not easy....it is one of the toughest professions in the world....it takes a lot to become a successful trader.....you will learn that slowly....but good traders make multiples of the figure you indicated.

4) Trading requires proper capitalisation. On Rs 10,000 you are sure to blow up this amount....one requires min Rs 2 Lacs to start with to make some decent money in trading....anyone telling you that you can trade on Rs 10,000 capital is either not trading or is selling dreams.

5) Earning 2% everyday after losses and commissions means making 40% per month on your trading capital....only topnotch traders go anywhere near that ......the realistic figure is about 15-17 % per month that too you will take a few years to come to this level.

Most professional traders trade with capital of Rs 10 lacs and above.....and that capitalisation helps them to diversify in their trades to spread risk and also absorb some bad patch which will invariably hit every trader and every method ,so save for your trading capital before getting into full time trading.

It is tough....but if you can make it you are on your way to a very rewarding and satisfying career...trading...

Good Luck to you...

Smart_trade

 

[TraderRavi]

But she left this forum almost two years ago....

 

[Smart_trade]

But she left this forum almost two years ago....

Agreed, but many newcomers to trading still have similar questions in their minds . These questions and the answers are same even after 2 years so my efforts in giving realistic assessment of the profession may help some newcomers who will see this thread in future.

Smart_trade

 

[JackPotter]

^^ I second that.. I was wondering about the minimum capital required for a trader gone pro... Sorry, thanks button has disappeared...