Trading for a Living : Is it Possible

#1
Hello everyone. I am Puneet and I am an active trader for the past 8-10 years (on and off). Till date I have lost around 2.5 Lakhs in the market (all because of my own stupidity), but I am not hung up on that. Right now I am Paper Trading again and am quite successful in that. As an educated reader will know the name of the book in my title and I was wondering if that was possible to do.

Background: I am currently a Banker by profession and earn about 50 K+ per month. I tend to keen the same standard of life and would expect to grow in the future. Considering the same, I would like to know the amount of initial start up capital that would be required. Basically I am looking for a success story from you readers. You can remain anonymous if you like but I woud really love to read about your struggle to become a professional trader.
Also I only trade in Options but I am willing to expand my horizons to other opportunities.
 
#2
Hello everyone. I am Puneet and I am an active trader for the past 8-10 years (on and off). Till date I have lost around 2.5 Lakhs in the market (all because of my own stupidity), but I am not hung up on that. Right now I am Paper Trading again and am quite successful in that. As an educated reader will know the name of the book in my title and I was wondering if that was possible to do.

Background: I am currently a Banker by profession and earn about 50 K+ per month. I tend to keen the same standard of life and would expect to grow in the future. Considering the same, I would like to know the amount of initial start up capital that would be required. Basically I am looking for a success story from you readers. You can remain anonymous if you like but I woud really love to read about your struggle to become a professional trader.
Also I only trade in Options but I am willing to expand my horizons to other opportunities.
First of all you have to learn to be profitable in real money trading. Here you keep small capital as while learning, you will make mistakes, incurr losses so do it on small capital till you become consistantly profitable atleast for 6 months.This stage may take 2-3 years and on small capital of say 50,000 or 1,00,000 it is not possible to make 50,000 per month. You may have to be satisfied with Rs 10,000 which could be 10 % of your capital initially.

Once you achieve consistancy on small capital ,then slowly increase your capital.For making Rs 50 K per month, you need Rs 5 to 7 Lacs of capital and some more capital kept aside for meeting your expences for initial days.People try to make 50 K on 1 L capital but mostly they fail in their attempt. So be adequately capitalised. Trading on shoestring budget is very stressful.

Smart_trade
 

Rish

Well-Known Member
#3
Hello everyone. I am Puneet and I am an active trader for the past 8-10 years (on and off). Till date I have lost around 2.5 Lakhs in the market (all because of my own stupidity), but I am not hung up on that. Right now I am Paper Trading again and am quite successful in that. As an educated reader will know the name of the book in my title and I was wondering if that was possible to do.

Background: I am currently a Banker by profession and earn about 50 K+ per month. I tend to keen the same standard of life and would expect to grow in the future. Considering the same, I would like to know the amount of initial start up capital that would be required. Basically I am looking for a success story from you readers. You can remain anonymous if you like but I woud really love to read about your struggle to become a professional trader.
Also I only trade in Options but I am willing to expand my horizons to other opportunities.
Possible...only after 2 or 3 years struggling period...

Now...your fixed income is 50K......be in the service and do trade for 1 years with 1 lakh capital and see your return on percentage....

Then you decide...whether it is possible or not...

Without getting experience...don't venture into market for your regular income....seeing from outside...it look nice...but...in reality picture will be different...
 

amandeep86

Well-Known Member
#4
Hi,

I left my job seeing my paper results /Hindsight analysis as i dont get time for trading with my Job.All messed up in real trading.Emotions not allowing me to perform.

Kept provision for 1 year ,But it will take atleast 2-3 years with lot of passion ,hardwork .

But believe me initial phase is much harder then you ever think from outside.If you have courage ,compassion and family support to cope the start ,world's best profession is waiting for you.
 

vijkris

Learner and Follower
#5
Hi,

I left my job seeing my paper results /Hindsight analysis as i dont get time for trading with my Job.All messed up in real trading.Emotions not allowing me to perform.

Kept provision for 1 year ,But it will take atleast 2-3 years with lot of passion ,hardwork .

But believe me initial phase is much harder then you ever think from outside.If you have courage ,compassion and family support to cope the start ,world's best profession is waiting for you.
bro, the day u started focusing on one system, u have cleared the path for success in trading.
for me it took almost 5 yrs to fix myself with one system. my initial phase lasted for 5yrs :(
and since jan 2016 I consider myself promoted to next phase of learning.:clap:
s
 

gopicbin1

Well-Known Member
#6
Even after 3years I am not able to enter into profits, the reasons are as under

1.for 2 years I did not stick to any particular system
2. Even after identifying system I could not follow it 100%, due to distraction from various blog readings etc.,
3. I did not venture into full time trading, whether this is reason for lesser losses or no profits I don't know :)
But still I believe I can make profits if stick to my system.

I request full time traders to come forward and give their opinions frankly
 

mohan.sic

Well-Known Member
#7
Hello everyone. I am Puneet and I am an active trader for the past 8-10 years (on and off). Till date I have lost around 2.5 Lakhs in the market (all because of my own stupidity), but I am not hung up on that. Right now I am Paper Trading again and am quite successful in that. As an educated reader will know the name of the book in my title and I was wondering if that was possible to do.

Background: I am currently a Banker by profession and earn about 50 K+ per month. I tend to keen the same standard of life and would expect to grow in the future. Considering the same, I would like to know the amount of initial start up capital that would be required. Basically I am looking for a success story from you readers. You can remain anonymous if you like but I woud really love to read about your struggle to become a professional trader.
Also I only trade in Options but I am willing to expand my horizons to other opportunities.

Though the amount you lost is not enough to understand the answer, you said you have spent 10 years in trading. In this 10 years how many successful traders have you met or heard about.

Analyze the answers you get here for your question.
How many straight answers without ifs and buts or terms and conditions.

If you really want to know the answer for your question - You already know it.
 

bunti_k23

Well-Known Member
#8
bro, the day u started focusing on one system, u have cleared the path for success in trading.
for me it took almost 5 yrs to fix myself with one system. my initial phase lasted for 5yrs :(
and since jan 2016 I consider myself promoted to next phase of learning.:clap:
s
congrats bro:thumb:and keep it up :thumb:even after succeding keep visiting the forum to keep up the positivity and to inspire others....
 

Brill

Well-Known Member
#9
@amandeep86
@vijkris

Could you make all the money lost during the learning period? How many month it took to cover all the losses?

Congrats and Happy to hear you could make it

I am trying to breakeven for the last one year... Whenever i reach breakeven a big lossing trade put me back to square one. Yes, i will try to stick with one system now onwards... Thanks
 

vijkris

Learner and Follower
#10
@amandeep86
@vijkris

Could you make all the money lost during the learning period? How many month it took to cover all the losses?

Congrats and Happy to hear you could make it

I am trying to breakeven for the last one year... Whenever i reach breakeven a big lossing trade put me back to square one. Yes, i will try to stick with one system now onwards... Thanks
i ll explain my journey bit further.
2010-2011, i got my initial capital for trading (small capital only). Instead of deploying it fully i divided it into 8 parts.
1st part blew within a year . traded in options with icicidirect. later MIS eq as well. in my 1st yr, My gross profit was few bucks, but high brokerage itself ensured that i lost the 1st part totally.
within that period i got many books, took almost 3 months to read few books.
i was fortunate enough to get my hands on risk mgmt book within 1st yr itself.

after that and till now i have strictly followed 1% risk rule. even at times i had to stop trading for months,as consecutive daily/weekly sl hits happened. (and only paper traded)

using a bad method/bad psychology/bad discipline,i.e no positive edge will ruin capital even if u follow risk mgmt properly. it is evident bcos i went on to blow further 3 parts. :lol:

Now i m left with 4 parts of my initial capital. 1 part is in use, rest safely hidden from trading a/c.
recently i posted my 1st Z 60 day challenge win.
its a long way to recover the previous years loss BTW.
i got these profits only when i started following one system totally.:rofl:
hope this helps. !!!
 
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