Need for more money

[megapixel]

I think OP needs fast money........surprisingly when people fail at other places ....the idea of stock market pops up.



Anyway, at this moment I can suggest only one thing .....you are an engineer ....try switching your job....try switching 2/3 companies...your salary will jump definitely.

 

[cloudTrader]

I think OP needs fast money........surprisingly when people fail at other places ....the idea of stock market pops up.



Anyway, at this moment I can suggest only one thing .....you are an engineer ....try switching your job....try switching 2/3 companies...your salary will jump definitely.

This seems a very rude statement. I don't think that this is the case with everyone. So much generalization is a very raw analysis.

I have met people who were doing great at their jobs [ working at Microsoft, IBM, Merchant Navy , Customs, Bureaucracy to name a few] , left their job & did much better at Stock Markets.

Each and every aspect of life differs from an individual to individual.

 

[sabharwal_RK]

From many of the posts above I feel that boarders are thinking that I a novice in the market and here just to gamble and make a quick buck. Well thats not true the problem is I am into the market since past 5 years, learning TA past 2 years and day trading since 1 year, still I am not having a profitable strategy.

I have zeroed in to these steps to earn from the market.

1. Long term investment only through Sensex/pharma/fmcg fund or during times of crisis
2. Mid term (6 months to 1 year or more) good stocks at weekly/monthly supports (buy only high quality so that one can average on furtherfall)
3. Short term swing stocks (1-3 months) (one can buy sectors in flavor), may be buy on dips/breakouts
4. Weekly holding stock (yet to decide)
5. Day trading use YTC methods


Most crucial is step 5, this will help me build capital; I am yet to achieve a good strike rate in day trade.

Opinions are invited

Thanks all.

 

[simplebuthard]

From many of the posts above I feel that boarders are thinking that I a novice in the market and here just to gamble and make a quick buck. Well thats not true the problem is I am into the market since past 5 years, learning TA past 2 years and day trading since 1 year, still I am not having a profitable strategy.

I have zeroed in to these steps to earn from the market.

1. Long term investment only through Sensex/pharma/fmcg fund or during times of crisis
2. Mid term (6 months to 1 year or more) good stocks at weekly/monthly supports (buy only high quality so that one can average on furtherfall)
3. Short term swing stocks (1-3 months) (one can buy sectors in flavor), may be buy on dips/breakouts
4. Weekly holding stock (yet to decide)
5. Day trading use YTC methods


Most crucial is step 5, this will help me build capital; I am yet to achieve a good strike rate in day trade.

Opinions are invited

Thanks all.

Please check winning ratio for your last few weeks/months while you think you traded with enough technical knowledge..... a favorable one is 6:4 win:loss. If that is poor, please go and learn more Tecnical Analysis.

Please check yourself whether you want to make 1 lakh into 2 lakh in just couple of months or in a year? favorable one is "in a year". If you are in not favorable case, please go and work on your Trading psychology.

All the best.

 

[TracerBullet]

1. Long term investment only through Sensex/pharma/fmcg fund or during times of crisis

If this is trurly long term (5,10years) use a diversified equity fund and if needed add some midcaps in smaller proportion.
1) Markets change, sector rotation happens. Top sectors of today may not remain top for the next decade. Let the fund manager make that call. Use sector funds only for shorter term tactical calls if you can manage that.
2) Almost any good diversified fund has comfortably beaten index over longer periods. India is not USA, even the index funds dont exactly have ultra low expenses like US. Use direct plans to reduce expenses. they will make considerable difference due to compounding over long term.

5. Day trading use YTC methods

Look at NiftyNirvana as well. He adapted YTC method to Nifty with his style and has generously given all details to us ( look at post links at the bottom ). He also gives daily update of his trades which helps to learn the method.

Please check winning ratio for your last few weeks/months while you think you traded with enough technical knowledge..... a favorable one is 6:4 win:loss.
All the best.

Expectency matters, win loss ratio less so. It depends on trading style.

 

[mastermind007]

Relative Poverty explained by a very nice example

http://www.traderji.com/general-tra...lth-inequality-mathematically.html#post992213

 

[mastermind007]

Sabharwal

Do you donate any funds from what you earn?

Charity (from genuine heart) towards any other soul?

 

[market oracle]

Hi guys

This is my personal problem that I wish to discuss with you guys, feel free to reply/abuse or anything to me on this thread.

I am working at a software firm in Mumbai. I always keep on feeling that I need more money, my life would be better if my salary can increase.

My expenses are growing faster then my salary (inflation>increment).

I am married and have one kid, and the household rent burns a huge hole in my pocket. I am unable to dream to buy a house/car with my meager savings.

I have tried almost everything (from past 5 years) to improve my life but it dosnt. Now I am not sure what to do? should I take sanyaas and go to Uttrakand and opean a tea stall. Or should I stop worrying about life and let it take its own path.

Can anyone suggest some solution? How can I make more money?

Yeah, Buy 8500CE and go to sleep peacefully! :lol:

 

[mohan.nj]

Dear,

My 2 cents..

You are paid in s/w job for doing your work.. You will paid in stock market if you do the stock market work.. and what is this stock market work.. its the work of handling risks..

What is handling risks.. Suppose you are a leader and you are given the task of finishing the job, what u do, you collect all the resources, do proper planning, and try to execute it.... You succeed 8 out of 10 times.. in 2 times projects delayed or gets postponed..

same in stock market.. you try 10 times and 8 times success comes and 2 times goes.. you make up a good profit..

That said is it possible to get 80% success ratio, the troubles on the way..

1. You take your trade ( each one ) as a personal worth trade.. can it be possible, it's one among your thousands of activities all thro ur live..

2. You attach ur ego to trade and don't cut losses..

3. The desires out run and rules mind rather than proper execution..

4. In job you do some JOB ( s/w in your case, book selling in another case ), but in stock market we directly deal with money in other cases it's indirect.. so it affects our psyche very much..

5. In stock market people are there who has more experience and money compared to you, can you compete with them..??

6. Brokerage houses, and exchanges gives leverage and what happens your risk goes up very much can you mentally prepared to handle that risk..

7. Objectively speaking NO.. all these things are not possible.. but there are success stories..

8. No body can teach you, apni laath khudh khaana padega.. Take up many successful threads in traderji, what is important is go thro the thread in deep and try to understand their trading style.. u may like few things note down.. repeating.. keep learning, keep losing(in very small qty say 1 share..).. one day u realize the probabilities are better in your favour at that time start with small capital, u will blow it up many a times.. but if u pass on this stage, then risk more capital from the capital earned from market..

9. Aur boloonga tho apne aap ko ulloo samjoonga.. jyada bol diya.. khud nahi kartha but sahi bolna padtha hai.. kya kare.. mind discipline karna bahut mushkil hai babu..

 

[hauler]

From many of the posts above I feel that boarders are thinking that I a novice in the market and here just to gamble and make a quick buck. Well thats not true the problem is I am into the market since past 5 years, learning TA past 2 years and day trading since 1 year, still I am not having a profitable strategy.

I have zeroed in to these steps to earn from the market.

1. Long term investment only through Sensex/pharma/fmcg fund or during times of crisis
2. Mid term (6 months to 1 year or more) good stocks at weekly/monthly supports (buy only high quality so that one can average on furtherfall)
3. Short term swing stocks (1-3 months) (one can buy sectors in flavor), may be buy on dips/breakouts
4. Weekly holding stock (yet to decide)
5. Day trading use YTC methods


Most crucial is step 5, this will help me build capital; I am yet to achieve a good strike rate in day trade.

Opinions are invited

Thanks all.

Choosing pharma/fmcg fund ? Any rationale behind it ? Please read about recency bias. Pharma/fmcg is not considered good for safety, by in typical bull market phases it can give you 0 returns over many years.