Trading for a Living : Is it Possible

amandeep86

Well-Known Member
#21
Very Tough my firnd,very tough.
Many are doing their most secured govt jobs* and doing trading as a part time.
If they make a loss trading,still they have their jobs as a backup.

a full time trader without any backup is rare.
backup means-
1)a govt job
2)wife working
3)rich father in laws
4)some shoppe(or any business) which running good and when there no customer u r taking a trade as a fun :D
5)some good FD's
6)some farm

at a very ligher note,pls dont take it otherwise.
I have recently visited my bank SBI..this days due to online everything facility,this guy had no work to do and he was doing some sort of share trading from his mobile banking..He was ignoring the clients.Leave it...I say,I had a very bad experience.

Many govt people do trading side by side and I hate them.Do a Govt job or do a trading full time.Be dedicated to any one profession.

I suggest from my tiny mind,pls Be a Branch Manager,Division Head,SBI Head(or whatever Branch/Bank) but do not be a trader.

I bet you will loose.
Why so much negativity...No doubt it is difficult ,but impossible i don't believe...Pursuing your passion is always difficult initially ..strong will power can change anything.
 

suri112000

Well-Known Member
#22
78 traders have responded to the poll. I presume all of them have voted with free will and based on the facts related to their trading life. If you can analyse the poll results carefully, you will come to know about the reality of trading.

http://www.traderji.com/day-trading/100184-reliable-approach-trading.html

Suppose everybody who starts trading becomes successful and living of the returns of trading. If this is what the trading offers, then there wont be people in the other fields of life except in trading arena because trading removes all headaches of a job, running industry or business. If trading business is so lucrative and authentic, you will find Tatas, Birlas, Ambanis into trading by shutting down their industries, businesses. If people are making a living out of trading, then why these industrial heads are failing to understand this.

Optimism is good. But it works against most of us in trading.

5 years of proven track record and consistency in profits is mandatory to take trading for a living. It is a long struggle and test to pass even before thinking about trading for a living.
 
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Mungus

Well-Known Member
#23
5 years of proven track record and consistency in profits is mandatory to take trading for a living. It is a long struggle and test to pass even before thinking about trading for a living.
3yrs of beginners learning stage+5yrs consistency in profits=8-10yrs.

now IF a guy is 30yrs old and Trading is his passion,do u really thing without a backup he could survive next 10yrs?

@Amandeep Ji,I am not negative..but what I said abt the backup is the fact only.
The thread starter has an experience of already 8-10yrs in and out and he lost a money.Now pls tell me,IF he is 30yrs old(married or not),is it better to do his most secured job or disturb the life for next few years untill he realizes that whether he could make trading as a career or not?

there's a lot of unemployment in India and people cant afford trading with 1-2 lakhs capital.One should have aleast 10lakhs as a base capital+ any of those backup which I pointed out.

I know a very skilled trader in this forum who's doctor..do some pulse polio etc.And used to post his beautiful yummy chats of a trade taken here and there.When I asked him why he's nt a full time trader?
His reply was-Being Doctor is his Profession and Trading his Passion.
Man,IF someone is really that profitable,why would he do 40,000rs Govt job?

Suppose everybody who starts trading becomes successful and living of the returns of trading. If this is what the trading offers, then there wont be people in the other fields of life except in trading arena because trading removes all headaches of a job, running industry or business.
 

amandeep86

Well-Known Member
#25
@mungus ji and @suri ji,

I feel the best reply could be post by Xray27 ,

95 % traders are interested and 5 % are committed ..

 
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amandeep86

Well-Known Member
#26
once the M2M has gone,what will a strong will power will do?
Why m2m gone ,where is MM and Risk Management gone.???:eek:

50% trades will be losers ,we cant avoid ..just manage your losses properly
 

suri112000

Well-Known Member
#28
I am reproducing below, what a senior trader (Saint) has to say about the concept "Trading for a Living".

I was a doctor by profession.......but the last many years have been trading for my daily bread.

To cut a highly tedious long story short,trading was my passion,medicine was my profession.Used to work mornings and trade the US markets in the nights......But once regular profits started to come in,and the income was much,much more from trading than medicine,at a certain point,it became ridiculous to hold on to something that I was not that bothered about anyway.......Medicine gave way to full time trading.

Have I felt that I should run back to Medicine at any time?Not so far....

Is it all a bed of roses?No way.The months when you don't earn from the markets,you wish that you were a doctor earning a regular income,or a trader giving some seminars,or making some money off newsletters,etc. There is a lot of pain that you have to endure,it's a tumultous path to huge incomes.........But if you can sort it all out,and you have a set capital to fall back on,and you have an understanding family,nothing beats this path.

Would I change this for anything in the world?No way!!

Should you quit your job and take up full time trading?Well,for a start,trade part time and see if you have what it takes to do this.Meanwhile build up a good capital,not only capital to trade,but something that you can fall back upon.And then see..........if you have the capital,and all the rest that is required off you and the guts to travel this path,welcome to the club.

All the best!
Saint
Read the sentences in Red thoroughly and comprehensively.
 

headstrong007

----- Full-Time ----- Day-Trader
#30
Trading is a profession like Sports..Just think if u ask the same qu Playing for Living?.. without any backup..full time or part time... all bla bla bla...ask it pele, maradona,ronaldo, mesi.. u'll get same answer.. u need backup/support.. u need passion..u need plenty of time.. u need will power for persistence..still there is a big uncertainty of a success... why.. simple it is not profession like doctor/engg/mba etc. where all below average, average, gd, best, genius can earn side by side... this is not possible in sports like prof.. here many compete but winner only few.. they take all the prize.. money..respect..
Don't come to a sports like profession..trading.. here is no security.. no guarantee u can make it to the top.. here is no place for below average.. average.. even good one looses in the long run.. trading is the place for few best and genius.. only..

When u know how to trade in small time frame.. there is no part time/full time concept.. u can open laptop for 2 or 3 hours and make money from intraday position only..but there is no guarantee u can reach there..
until u try for long..go through the long whole process of building a sportsman..there is no shortcut method to know u have all the qualities to make it to the top or not...better don't try trading.. if u don't think it like a sportsman.. leave it..don't loose your hard earned money..u'll not get it back..never..until u reach to the top.. very tough..
if u have backup.. u can try it for long..and find out.. but u can't do anything..u can't be a sports man..if u don't have it..
 

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