Need advice from learned members on this forum

#1
Hi all ,

I am a 23 year old who is interested in becoming a full time trader . I wanted to ask on this forum , if earning a good amount of money through daytrading/swing trading is it possible and realistic in india ? (unlike in the US , during a bull market stock prices jumps 10times)
And is it a good a good move to become a full time trader now ? I will be giving my CFA level 1 in Dec2014 . And I dont really see the point of doing an MBA .
and jobs in the Finance industry is kinda low paying for a newbie (15k-20k) , which is really pissing me off , as we work around 15hours a day and most of the saturdays too .

I would like some guidance or wise words to give me some direction regarding this matter .

Thanking and awaiting replies ,

HedgeFudge
 

tradedatrend

Well-Known Member
#2
daytrading/swing trading is it possible and realistic in india ?

Of-course POSSIBLE & REALISTIC, making or losing money is upto your skills




And is it a good a good move to become a full time trader now ?

Conventional wisdom says, you should have some sort of source of other income if you want to become a full time trader
 
#3
You actually have a much higher chance of doing well in life if you get an MBA (from a top 10 college) than if you do CFA or become a daytrader.

Sure wealthy day traders do exist but how many?

On the other hand take most good companies .... you can see CNBC and when ever a director/CEO/CFO/senior executive is interviewed just go over to wikipedia and check their education background there's a very high probability he/she will be from IIT/IIM/top 10 type college.

The reason is not because they have a superior brain but because they have a strong alumni network. Its the alumni network that gets them good high paying jobs and good promotion prospects. You maybe smarter than them but they will still do better than you because of this reason.

Sure it is hard to get in but its a one time thing, after you come out you won't have to struggle as much as those who didn't go there.

Consistent profitable day trading is very very hard among the several hundreds of day traders I've met just a handful have had some success and maybe 1 or 2 have become very wealthy.

You don't have to believe me but as its your future career here on the line do your own research.
 
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laotze

Active Member
#4
Hi all ,

I am a 23 year old who is interested in becoming a full time trader . I wanted to ask on this forum , if earning a good amount of money through daytrading/swing trading is it possible and realistic in india ? (unlike in the US , during a bull market stock prices jumps 10times)
And is it a good a good move to become a full time trader now ? I will be giving my CFA level 1 in Dec2014 . And I dont really see the point of doing an MBA .
and jobs in the Finance industry is kinda low paying for a newbie (15k-20k) , which is really pissing me off , as we work around 15hours a day and most of the saturdays too .

I would like some guidance or wise words to give me some direction regarding this matter .

Thanking and awaiting replies ,

HedgeFudge
Do your higher studies....don't spoil your carrier....add professional qualification and get experience in the corporate...world is big...not only stock market...

If you choose at this age...trading...that will be worst decision in your carrier....

Trading full time needs minimum 5 or 6 years experience..and you should loose money and you can learn...

If you are ready for loosing money in the initial game..then you are welcome..otherwise just do what you are doing now.
 

manishchan

Well-Known Member
#5
Hi all ,

I am a 23 year old who is interested in becoming a full time trader . I wanted to ask on this forum , if earning a good amount of money through daytrading/swing trading is it possible and realistic in india ? (unlike in the US , during a bull market stock prices jumps 10times)
And is it a good a good move to become a full time trader now ? I will be giving my CFA level 1 in Dec2014 . And I dont really see the point of doing an MBA .
and jobs in the Finance industry is kinda low paying for a newbie (15k-20k) , which is really pissing me off , as we work around 15hours a day and most of the saturdays too .

I would like some guidance or wise words to give me some direction regarding this matter .

Thanking and awaiting replies ,

HedgeFudge
MBA :

Will cost you about 12-15 lakhs if doing from good institution

2 years of course and initial 2-3 years of struggle in ur first job etc

you will be working on some good post in corporate holding a degree from reputed MBA college

Will be making good money but life won't be easy with the stress of corporate. At one point in life, you will feel dt life is useless.. you will hate ur money, car and bunglow if you dnt like urself doing what you do. But if you want to do MBA coz u want good money.. then no better option.



Trader:

Will cost you about some lakhs (depends how much you ready to loose)

Will take about 3-4 years to start being profitable

No certficates.. only the experience in your head counts

No guarantee dt you will start making good money after 3-4 years of losses/struggle

if making good money, then life will be heaven coz you are own your boss.

But if you only lost all the lakhs you started with, life will be miserable.. you will feel like a looser.. you would have wasted about 3-4 years and with age your requirements, etc will put in in deep trouble.

Now you decide !!
 
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#6
MBA :

Will cost you about 12-15 lakhs if doing from good institution

2 years of course and initial 2-3 years of struggle in ur first job etc

you will be working on some good post in corporate holding a degree from reputed MBA college

Will be making good money but life won't be easy with the stress of corporate. At one point in life, you will feel dt life is useless.. you will hate ur money, car and bunglow if you dnt like urself doing what you do. But if you want to do MBA coz u want good money.. then no better option.



Trader:

Will cost you about some lakhs (depends how much you ready to loose)

Will take about 3-4 years to start being profitable

No certficates.. only the experience in your head counts

No guarantee dt you will start making good money after 3-4 years of losses/struggle

if making good money, then life will be heaven coz you are own your boss.

But if you only lost all the lakhs you started with, life will be miserable.. you will feel like a looser.. you would have wasted about 3-4 years and with age your requirements, etc will put in in deep trouble.

Now you decide !!
genuine advice.....and practically happened with most of the traders...
 
#7
Woow !!!
looks like in my first post all the seniors have ganged up on me on this forum !! jk .

thank you for all your valid and valuable inputs .
I guess you all are right , but the thing is I hate jobs ! /i've tried it and its the worst thing any person can do .
I'd rather pick trying and failing at trading than going for a job .


Thanking for all your inputs ,

HedgeFudge
 

laotze

Active Member
#8
Woow !!!
looks like in my first post all the seniors have ganged up on me on this forum !! jk .

thank you for all your valid and valuable inputs .
I guess you all are right , but the thing is I hate jobs ! /i've tried it and its the worst thing any person can do .
I'd rather pick trying and failing at trading than going for a job .


Thanking for all your inputs ,

HedgeFudge
All the best, take care...experience only give lessons to our life..
 
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#9
Woow !!!
looks like in my first post all the seniors have ganged up on me on this forum !! jk .

thank you for all your valid and valuable inputs .
I guess you all are right , but the thing is I hate jobs ! /i've tried it and its the worst thing any person can do .
I'd rather pick trying and failing at trading than going for a job .


Thanking for all your inputs ,

HedgeFudge

i am also pursuing mba bt nt frm d mst reputed clg..there is no link b/w sharemkt nd mba...even a 10th class student can easily understand A to Z of sharemkt...IMO in this field the more u get experience nd it will gradually develop guts nd 6th sense, which is more important than technical analysis knowledge.

if u r saying that you hate jobs...my friend believe me or not bt stress is much more in trading..instead of it open a brokerage firm nd run it nd enjoy life without stress, then u will realize d real truth..
 
#10
All the best, take care...experience only give lessons to our life..

haha . well let's hope I understand the business of hedgefunds and fund management companies before life gives me a kick :)
Anyways laotze , I understand the point which all of you are trying to tell me . and trust me a CFA has my back covered for a high paying job :)
It's just we live only once and I want to try it out :)

Hope to see you on the forums and learn alot :)


Appreciate the concern and thanking for the advice ,

Hedgefudge
 

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