Day Trading Stocks & Futures

[Niranjanam]

re: Day trading Nifty & Banknifty Futures

One of the real contradiction traders face is that the forces that attract people to trading are exactly what make them lose in trading.
For most traders, trading is attractive because they can:

Make a lot of money - greedy- Makes you stay in a winning trade too long until it becomes a loser.
Get rich quickly - impatient-Forces trades, enter too early on poor signals
You have the best commute - lazy-does not work on improving one's understanding of the market and trading system.
Make a good living trading only 2 hrs every day. - super lazy
Live anywhere - mercurial-Emotional trading, revenge trading, chasing price with every turn.
No bosses or employees needed - poor social skills-Inability to learn from the experiences of other traders
Be unaffected by economy, political shifts, natural disasters, etc. - fearful-Cant take trades, exit trades too early, unable to hold through a pullback
No hard assets, office space, etc needed. - unattached.-Jump from trading system to trading system whenever current system gives a bad day

As you can see, the worst developed personalities are naturally attracted to trading and its no wonder that 80% of traders lose everything they ever put into trading. To be successful, you need to fight the very qualities that brought you to trading in the first place. This is the contradiction that traders face on the very first day that they begin to trade.

Cadver
http://ninetrans.blogspot.in/

 

[Snake.Head]

re: Day trading Nifty & Banknifty Futures

I entered into trading to generate an alternative source of life long income.I am more convinced than ever before that the only path to survival in the new economy is to be more entrepreneurial. Jobs are no longer stable and will be the least stable thing in the future.
It will be foolish to assume that your career is going to be a smooth straight line ride in future. Depending solely on your day job is a recipe for disaster and financial problems in future. So develop multiple streams of income and trading is yet another way to do it.

What Niranjanam said 100% agree with it...
Same reason to start Trading

 

[altaf petiwala]

re: Day trading Nifty & Banknifty Futures

Looks like nobody figured out yesterdays FII inflow figures.

A canadian pension fund did a block deal of 2000 crores in Kotak Bank. Thats why the huge figure.

 

[kiran_thiru]

re: Day trading Nifty & Banknifty Futures

a question to all... why are you trading ?

surely for earning money.
till now not done. but paid money to market.

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

a question to all... why are you trading ?

I trade because that is what I love doing. Money is definately not the driving factor....certainly not any longer as I have achieved all my financial goals a few years back. Destiny has brought me to this wonderful profession/calling and I thank God for that.

Then why I continue trading ? Because that gives me tremendous joy and satisfaction.I have a passion for it. It is like a game where we judge the environments, playing field,our strengths and weaknesses, identify the opportunities as well as threats, make a plan and execute it with perfection and see the plan work ( few trades not working is also part of the well thought out plan.) It gives the same pleasure which a perfect square drive gives to a cricketer or a winning volley or a serve gives to a tennis player.

Smart_trade

 

[OMSAI]

re: Day trading Nifty & Banknifty Futures

a question to all... why are you trading ?

I trading because.....I don't want to work under any person.....I like give order don't like take order.....:thumb:

and of course MONEY and FREEDOM.................and here I can play the game with brain...I never found such other field....

 

[TraderRavi]

re: Day trading Nifty & Banknifty Futures

rehne do beta ye tumse na ho payega !!

 

[TraderRavi]

Re: Why people do trading?

1. Some people love trading because, they continually need to find new challenges in what they do everyday, so the gratifications from successful trading is much higher than most of work/job for them.

2. There are some other people who enter into trading only for big and quick money.

3. Rest do trading for Adrenaline & Entertainment like playing a car game/chess game..
But here rewards are more when you are winning, so some of them dreams big and try again & again. Some of them become addicted in that process, they loose repeatedly but came back every time with bigger hope.



Most successful traders emerge from the first category only. Then few from 2nd. Very less from 3rd category.

Happy Trading.

although JMD included chess in 3rd category cause of me :annoyed: but m in first category

 

[Jai Mata Di]

Re: Why people do trading?

although JMD included chess in 3rd category cause of me :annoyed: but m in first category

Definitely you are not only from 3rd category. I think you are rare mixed breed from 1st & 3rd category.
And you are not the only one here, who regularly log in to Chess.com.

I am lucky that I am inside first category. I knew there are many here in first category who love to face new challenges every day. Thats why trading is their love and passion.

-----------------------------
Why people do trading?

Little more explanation here.


When money is only goal, sustaining in this difficult profession in early 3 to 5 years is very difficult when someone continuously faces quarterly loss or nearly breakeven in some quarter. Steady persistence in trading with loss in long run is very difficult to absorb, unless someone driving with passion and love, taken trading as challenge to overcome.

From my personal experience, I saw many friends quit trading in initial years because they took trading as business (or to open another source of income) and when loss was unbearable they lost all motivation and quit.

But when you take it as challenge, your only goal is to WIN in long run, your determination & persistence is high, you come back again again and learn from every mistake. Finally when you WIN that challenge, you become a successful trader automatically and then trading is injected in your Blood. It is your Love & Life...

------------

Famous Doctor Jonathan S. Katz, M.D. Neurology done research on lot of successful traders and why they choose trading: A very high risk business?

He pointed out that the motivation to make money is often not sufficient to sustain traders. He explains that, some people need to continually find new challenges in what they do and pursue and successful traders belongs to above category.

That why most of very successful traders continue trading even after they already became billionaires. Successful traders pursue trading for new challenges, trading is mastery of complexity, it is in their blood, passion & love. :thumb:

Happy Trading.

 

[HEM]

re: Day trading Nifty & Banknifty Futures

Destiny and circumstances brings to the person for trading......every person who comes to the trading profession ......... only money is the primary motive intially and after that love , passion and other things for trading comes into the picture..... who feels love , passion, commitment and dedication for trading constantly.....he survives in the trading and who don't feel,he don't survives in the trading.




HEM