Trading for a Living : Is it Possible

Shikamaru

What a drag!!!
#33
Hi,
Watching basket ball didn't made a basket ball player
(Atleast I'm convinced and say myself basket player since I represented
state level tournament once in college after long struggle)
It took hours of practice, pain, tiredness, joy and sad, sportsmanship,
sacrifice

But we are missing something here, Where does once foundation
come from either watch and practice or learn and practice or
one should born as natural sportsman but its rare, I believe whether
it is book, mentor, forum, videos, some one or some form should teach
us, So watching basket won't make a player but it will lay first brick
to building dream or desire or discipline

I lost more than 4 small trading account including forex since my
geological location allows me to trade in forex...nothing required to
start, once convinced setup just by painting old historical data, I started
like that, but every loss made sense.... I was loser but
now at breakeven may after lot of effort I will profitable...
after that I can trade for living.

bottom line, you can trade for living but can't without accepting
odds inbetween since this profession need highest self-discipline
required by another thing
 

Mungus

Well-Known Member
#34
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..
This is exactly what I mean :)

There r people in this forum who post motivational images in TP's thread.
Albert Einstein,Wilma Rudolph's quotes,And some other quotes.But philosopies really dont work in this field.

IF you have 10Lakhs capital and say you are married and imagine you lost 2.5lakhs,do you really think without any backup and a family support you can still dare to countinue your trading?

and IF you are unmarried,unemployed and thus doing trading and lost same 2.5Lakhs,do you dare taking a next trade peacefully?

Yes,IF you have a backful ie,something to fall back.

@the thread starter-many still trading 1-5 lots Nifty contract in this forum from last 10yrs.

@Suri-With very humble respect,though I wasn't pointing towards Saint,I dont consider Saint as my idol/neither he was a trader.He is banned from here and now he's a tipster. :(

Best Wishes for the thread starter.If he's a Govt Banker..man you have already got luxuriou life..DA and all hikes you get.20days work and 30 days Salary.Enjoy Bro.
Sorry for being so rude,but thats the fact,you know.:thumb:
 

suri112000

Well-Known Member
#35
This is exactly what I mean :)

There r people in this forum who post motivational images in TP's thread.
Albert Einstein,Wilma Rudolph's quotes,And some other quotes.But philosopies really dont work in this field.

IF you have 10Lakhs capital and say you are married and imagine you lost 2.5lakhs,do you really think without any backup and a family support you can still dare to countinue your trading?

and IF you are unmarried,unemployed and thus doing trading and lost same 2.5Lakhs,do you dare taking a next trade peacefully?

Yes,IF you have a backful ie,something to fall back.

@the thread starter-many still trading 1-5 lots Nifty contract in this forum from last 10yrs.

@Suri-With very humble respect,though I wasn't pointing towards Saint,I dont consider Saint as my idol/neither he was a trader.He is banned from here and now he's a tipster. :(

Best Wishes for the thread starter.If he's a Govt Banker..man you have already got luxuriou life..DA and all hikes you get.20days work and 30 days Salary.Enjoy Bro.
Sorry for being so rude,but thats the fact,you know.:thumb:
Mungus,

Under capitalisation and lack of proper trading education are the chief hindrants to upcoming traders.

Many think that if you have Rs.1 lakh in trading a/c, you can trade 5-10 lots of nifty intraday. I call this undercapitalisation. Any successful system sees a drawdown of 2000 points in Nifty before it starts to deliver.

Correct capitalisation is three times Nifty margin (ie positional margin) and backtested drawdown. That is if Nifty present margin is Rs.35,000 and system drawdown is 2000 points, then you should have a capital of Rs.2,55,000 in the trading account to trade 1 lot of Nifty. With 10 lakhs capital you can trade at the most 4 lots.

Another point is - how to calculate rate of return. Suppose you have made 1000 points in Nifty in a year. That means you have made Rs.75000 in the year. Many wrongly calculate rate of return as 215% pa based on the margin of Rs.35000. But the correct way of calculating return is as follows :-

Presently Nifty is around 8000. So, your capital should be Rs.6 lakhs to trade 1 lot without margin/leverage. As you have made Rs.75000 this year, your rate of return is 12.5% pa.

As 2000 points drawdown is common in Nifty futures, ie 25% of 6 lakhs ie 1.5 lakh. Well capitalised trader survives this drawdown, but how many traders who trade nifty futures with Rs.1 lakh or Rs.50 thousand capital survive this drawdown.

I hope you can see why most of the traders fail in this business. If you are well capitalised, you wont get attractive return here. If you are under capitalised, you wont survive here ie you get slaughtered.

Since trading is more of an art, it can be learnt by one's own efforts. There is no authentic academic education on the subject. Whatever knowledge we have today is the experiences of earlier traders. Further, we donot know how truthful and authentic they are when they share their experiences with fellow traders.

I too agree with your views. If you are not properly capitalised and thoughtfully not educated in this field, keep away from this business.
 

vijkris

Learner and Follower
#36
This is exactly what I mean :)

There r people in this forum who post motivational images in TP's thread.
Albert Einstein,Wilma Rudolph's quotes,And some other quotes.But philosopies really dont work in this field.

IF you have 10Lakhs capital and say you are married and imagine you lost 2.5lakhs,do you really think without any backup and a family support you can still dare to countinue your trading?

and IF you are unmarried,unemployed and thus doing trading and lost same 2.5Lakhs,do you dare taking a next trade peacefully?

Yes,IF you have a backful ie,something to fall back.

@the thread starter-many still trading 1-5 lots Nifty contract in this forum from last 10yrs.

@Suri-With very humble respect,though I wasn't pointing towards Saint,I dont consider Saint as my idol/neither he was a trader.He is banned from here and now he's a tipster. :(

Best Wishes for the thread starter.If he's a Govt Banker..man you have already got luxuriou life..DA and all hikes you get.20days work and 30 days Salary.Enjoy Bro.
Sorry for being so rude,but thats the fact,you know.:thumb:
Bhai,
govt. job ppl, doctors,and secure job fellows are the bread and butter of brokers and they also provide liquidity to the market.

off the topic:
when I was posted as an intern in general surgery dept. the assistant professor used to always trade, continuously talking to the broker, literally, other residents and we interns used to manage the dept. :lol:
salary of the asst. prof was around 1.2 lakhs per month.
I m sure he ll never resign from the job for trading.

back to topic:
@suri , I totally agree with u regarding under capitalization. I myself tried to explain 1% risk rule to few of the clients I met in broker's office, and also in the forum, but nobody is ready to believe/listen.
I met one fellow, with 1 lakh capital, using CO, he takes 20 lots. :eek:
he was criminal lawyer by profession. :lol:

BTW now I m realizing that whomever I met all had financial backup that made the confidant of taking so much risk.

My opinion only a well disciplined, correct risk mgmt. can become full time traders.
BTW where is the thread starter. No response from him/her. :annoyed::mad:
 

Mungus

Well-Known Member
#37
@Suri-I'm well capitalized and full time trader.I trade 20ema pullback trades.Daily m2m loss limit is 1%.

@Vijkris-The thread starter may be looking for new ways to enhance his luxury as he wants to be a trader just to maintain his luxurious status.(That is what he said). And Vijay,he is he for sure,not her.Because If he were she,she would have chased you or any of the trader(Doctor+Trader Combo)...:lol:

Hope you are dedicated trader Vijay.Else concentrating 50% on patients and looking 50% on the market is a bad practice.Frankly,I hate Kaamchor people.Everyone needs money.Money brings happiness as it fulfills all of our humanly needs.
On that note,agreed to Suri that Trading is lucrative just because of its nature..Kaamchor Nature.No Boss,No Tension,No Responsibility.

Reading all these,Thread Starter Gulshan Grover Darr Gayi Lagti :D
Enjoy Buddy :thumb:
 

vijkris

Learner and Follower
#38
@Suri-I'm well capitalized and full time trader.I trade 20ema pullback trades.Daily m2m loss limit is 1%.

@Vijkris-The thread starter may be looking for new ways to enhance his luxury as he wants to be a trader just to maintain his luxurious status.(That is what he said). And Vijay,he is he for sure,not her.Because If he were she,she would have chased you or any of the trader(Doctor+Trader Combo)...:lol:

Hope you are dedicated trader Vijay.Else concentrating 50% on patients and looking 50% on the market is a bad practice.Frankly,I hate Kaamchor people.Everyone needs money.Money brings happiness as it fulfills all of our humanly needs.
On that note,agreed to Suri that Trading is lucrative just because of its nature..Kaamchor Nature.No Boss,No Tension,No Responsibility.

Reading all these,Thread Starter Gulshan Grover Darr Gayi Lagti :D
Enjoy Buddy :thumb:
ok, I forgot to mention, I have a degree in medicine related field, but I do not practice it.
I m 100% 10 am to 11.30 pm trader, (learning to trade.:p)
 
#39
many traders give classes n training to others , this way they always have fixed income , no risk of blowing-up ,
 

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