I have opened this account at this forum to thank you for sharing your life story. We share many things in common, like you, I have also given a better part of life preparing for Civil Services. In fact, I am still preparing. Like you, presence of commerce people stimulated my interest in stock market. Like you, initially I gained by fluke. Like you, I borrowed money with a hope to break even. In this process, i have lost around 200000 within a span of seven months. Now there are around 50000 in my commodity account.
Your analysis about life of a trader hitherto does apply to me, considering this I have drawn certain conclusions and made certain decisions.
Conclusions-
1. Trading can be highly mentally taxing. It keeps your mind occupied for all the time, this is more true in case of trading at MCX.
2. People who loose are much more than people who profit.
3. There should be a permanent source of income.
4. Trading can be trap - In my case i have become addicted to MCX. I wake up at 09:58 and then my whole day revolves around the laptop. Sunday seems to me the only normal day now.
Decisions-
1. Suddenly, I have realized that for the past seven months I have been a full time trader. This is not I wanted. It is not that trading is bad or something but the reason is the pressure is too much for me to bear. I started all this to make easy money but I was being too optimistic. So from this very moment no full time trading for me.
2. Will not put more amount for trading.
3. Alternative way of debt payment. I might use a scholarship that I have and or I will sell my motorcycle.
4. Refocus on my original aim.
Once again thanks to you. After going through your thread I have got a fresh but realistic perspective about what the market can do to you. It can go either ways but I can not afford to take the risk. Once i missed final selection in civil services by 1 mark. Civil Services preparation is a gamble in itself and that too a big one. It is not prudent for me to expose my self to risk at two fronts. So I am confining my self to becoming a student.
P.S. Your father has been very supportive. I pray for him.
Your analysis about life of a trader hitherto does apply to me, considering this I have drawn certain conclusions and made certain decisions.
Conclusions-
1. Trading can be highly mentally taxing. It keeps your mind occupied for all the time, this is more true in case of trading at MCX.
2. People who loose are much more than people who profit.
3. There should be a permanent source of income.
4. Trading can be trap - In my case i have become addicted to MCX. I wake up at 09:58 and then my whole day revolves around the laptop. Sunday seems to me the only normal day now.
Decisions-
1. Suddenly, I have realized that for the past seven months I have been a full time trader. This is not I wanted. It is not that trading is bad or something but the reason is the pressure is too much for me to bear. I started all this to make easy money but I was being too optimistic. So from this very moment no full time trading for me.
2. Will not put more amount for trading.
3. Alternative way of debt payment. I might use a scholarship that I have and or I will sell my motorcycle.
4. Refocus on my original aim.
Once again thanks to you. After going through your thread I have got a fresh but realistic perspective about what the market can do to you. It can go either ways but I can not afford to take the risk. Once i missed final selection in civil services by 1 mark. Civil Services preparation is a gamble in itself and that too a big one. It is not prudent for me to expose my self to risk at two fronts. So I am confining my self to becoming a student.
P.S. Your father has been very supportive. I pray for him.