i spent around 2 months doing online share trading. while i managed to get out profitably it was a sheer pain in the ass. i moved out the day it started becoming addictive. you can lose good money because of bad luck or sheer stupidity. it is definitely not something that should be tried on as a time pass or casually.
Want to do some trading in Securities Online
- Thread starter Jaymin
- Start date
- Replies 61
- Views 10,390
VERY dangerous things to say. And extremely wrong reasons to take up trading. There are nothing like 'reliable tips', unless one is an insider in a company. Even then, it isn't always reliable.
And trading is serious stuff, not a 'trial' thing. Much has been said already here, can't stress any more
agantuk let him try, he will understand only after losses , i learned it the harder way and thats why my conviction have become saner , within 30 days(may be some more unsure) he will realize that we were the only friends he had, who were giving the right advise.
And trading is serious stuff, not a 'trial' thing. Much has been said already here, can't stress any more
agantuk let him try, he will understand only after losses , i learned it the harder way and thats why my conviction have become saner , within 30 days(may be some more unsure) he will realize that we were the only friends he had, who were giving the right advise.
rajanmehta
Regular
@Jaymin
I do understand your mental status at this point in time when you are trying to clear your CA finals but are not much hopeful of doing so. At such stage, it is quite normal to think along the lines you are thinking.. To start earning meaningfully as one would have already spend a long time after graduation in becoming a CA. It happens and i have seen many in the past going through similar phase. But taking up Stock Trading (Whether on small scale/big scale is irrelevant here..) is not the solution. In addition to all the skills/experience/knowledge outlined by other members, the biggest thing which you need to survive in Stock Trading is your Mental Outlook. You can't be overjoyous when you gain & you can't be sad when you loose. Basically you should be able to take a call/make a decision (Even if you have lost badly with your pants down) wherein no other mental feeling affects you. You need to be either a Yogi or totally thick skinned or overflowing with surplus money to do so. And that's not really how normal people are. You can learn all the technical analysis/knowledge/experience in the world but this is not something which can be learnt.. It's basically what you are and extremely difficult to change yourself in such situations. I also agree with what other members said... Very few people make money doing stock trading (Less than 5%) despite whatever you might have heard. People tend to boast about a good strike but won't tell you when they lost badly. And ultimately even on a not so longer time frame, they loose money.
Net net...
-Stock trading is not for someone to earn money to run the house or for extra income when you haven't settled down successfully in life.
-Once you have done so and built a good amount of capital, invested major part of it outside stock trading, you can apportion a 5-10% of your capital base for stock trading. The % would be such that it should not affect you one bit financially/mentally if you loose 100% of it.
-The amounts of 10-15k which you are talking of starting with are absolutely inconsequential for stock trading.
-Your profession is quite high paying now a days compared to the eighties/nineties. Freshers also get good remuneration. 3 to 5 years exp and you will be buzzing off to greater scales. Concentrate on passing your finals anyhow, understand your value, demand it and you'll get it. Period.
I do understand your mental status at this point in time when you are trying to clear your CA finals but are not much hopeful of doing so. At such stage, it is quite normal to think along the lines you are thinking.. To start earning meaningfully as one would have already spend a long time after graduation in becoming a CA. It happens and i have seen many in the past going through similar phase. But taking up Stock Trading (Whether on small scale/big scale is irrelevant here..) is not the solution. In addition to all the skills/experience/knowledge outlined by other members, the biggest thing which you need to survive in Stock Trading is your Mental Outlook. You can't be overjoyous when you gain & you can't be sad when you loose. Basically you should be able to take a call/make a decision (Even if you have lost badly with your pants down) wherein no other mental feeling affects you. You need to be either a Yogi or totally thick skinned or overflowing with surplus money to do so. And that's not really how normal people are. You can learn all the technical analysis/knowledge/experience in the world but this is not something which can be learnt.. It's basically what you are and extremely difficult to change yourself in such situations. I also agree with what other members said... Very few people make money doing stock trading (Less than 5%) despite whatever you might have heard. People tend to boast about a good strike but won't tell you when they lost badly. And ultimately even on a not so longer time frame, they loose money.
Net net...
-Stock trading is not for someone to earn money to run the house or for extra income when you haven't settled down successfully in life.
-Once you have done so and built a good amount of capital, invested major part of it outside stock trading, you can apportion a 5-10% of your capital base for stock trading. The % would be such that it should not affect you one bit financially/mentally if you loose 100% of it.
-The amounts of 10-15k which you are talking of starting with are absolutely inconsequential for stock trading.
-Your profession is quite high paying now a days compared to the eighties/nineties. Freshers also get good remuneration. 3 to 5 years exp and you will be buzzing off to greater scales. Concentrate on passing your finals anyhow, understand your value, demand it and you'll get it. Period.
beekeys
Regular
CA shd important for u, once u go for trading, u will loose ur profession field. So establish yourself first in CA. Second, trading can only be done if u learn it, for that u hv to spend yrs to see the trend of market.
neevarp
Regulars
Not everyone are meant to be day traders. Many enter this arena with the intention of making big money. Within no time, they realize that they are always being taken for a ride by certain "invisible forces" within the market. It is true that a fair share of the day traders always lose money. As someone was saying, approximately 95% of the day traders lose their hard earned savings. But where does this money go? Into the accounts of the rest of the 5% who are successful in speculating the markets. And trust me when I say this, it may take quite sometime before you can be a part of this "elite group" of traders who always seem to have an "edge" over the others and hence they consistently make money almost everyday! Paper trading is not going to help you. It will instill a false sense of security. Start with small amounts. Focus on converting 5k to 50k, not 50k to 500k. Greed is the cause of all misery in the stock markets. Hence, be averse of that quality. If you have a profitable system, you will see the returns increasing slowly. After all, no one is going to pay you 5k everyday for sitting on your a** in front of your PC - but day trading does. There are many more aspects which I wish to convey; but then the markets are about to commence and so is the "fight". Wish me luck. 
@cool_techie_tvmon one hand u say greed is the cause of all misery and on the other u r telling him to focus converting 5k to 50k ?? thats 1000% return !!! i have yet to meet any1 who can consistently generate that kind of returns over a period of time. god help any1 who starts with 5k. !
neevarp
Regulars
@ wikedmonkPlease try to understand the underlying meaning of my post. And that is to start small and make big money; not to start big and lose everything. If you were adept in this niche you may know that the most proficient traders always started with nominal amounts. Therein lies the fun of trading and it can be less draining to the emotions too.
I understand the suggestions u people are giving. But i am really stuck.Until i clear my finals, i am totally idle. Coz no matter how much i have learned during my practical training, i still remain a Fresher Graduate.1) And for a fresher, all orgs that pay good amounts, will ask for yearly commitments. If i do commit, then there are other issues:a) If i pass, then i surely wud want higher remuneration & better portfolio.b) If i fail, i will have to appear for exams in November, which means atleast 20-25 days break from work. No org will afford that.2) If i manage to find someone who can lend me enough break, then surely that employer will make me work for peanuts, again with a longer term commitment.And to top it all, i have applied to numerous orgs already, without response from any1......they also must have understood that i am stuck in the cycle.So, the question is, what shud i do in the interim? In a fix really........
absolutely not a timepass, while in college I had some friends who invest online in day trading as well as long term but they always talk of loss. never seen them in profit.while now i started investing in SIP (HDFC TOP 200, HDFC EQUITY, IDFC PREMIER EQUITY A) on basis of my learning from outlook money magazine. along with sip I also invest some extra amount in these fund when I feel the market is very low.finally I am having a profit of 2000 on a investement of 40000, instead of the fact sensex is at only 18000 and stagnant for a while. not a bad strategy for me at least.
invest in your self that is best invest .. i feel you are from sound background and don't need money to support family so this is best time to invest in your self .. join some crash course .. enhance knowledge .. in child hood you always wish to do few things, hobbies which you are not able to complete due to time constraints so utilize this time for complete those hing .. believe me once you stuck in those 9-6 schedule you will not get time for these things ...about making money be a free lancer using your knowledge .. don't join any company instead contact some CA firm who need ppl for internal/external audit or other financial activity .. you can be part of there team on audit basis .. once audit is complete you are free .. may be you will make less money but you are free from any contract .. and this will also help you some experience with knowledge you have if you are planning to start your own practice in future then you can think about these IT returns .. i know you will not make any money out of it .. but this will be helpful to you build your own contacts which is very help full in future ..but don't give up CA .. that is your final aim ..