Day Trading Stocks & Futures

[sumosanammain]

Why does it matter who says and thinks whatever. No one comes to pay our bills.
Deep down, it's their own insecurities that prompt them to talk nonsense.
The ONLY thing negative about trading is, that you do not have a fixed income like a salary. Neither does any business.
But, trading is not considered a business.
So, let people think what they want to.
Even if you can't buy 2 flats and a car, but are able to take care of your expenses without being screwed by a boss, it's good. Remember, this is a scalable business, so easily scalable, that it would put most businesses to shame in the scalability department.
So, screw what people say and think. Do what's best for your family. At the end of the day, this family matters. Not others.

 

[cinderblock]

.... people respect traders working in bank because they get regular salary and perks....

It's a filter. Almost anyone can say I am a trader. You just open an account at Zerodha and Robinhood and say you trade equities.
Random people cannot work as traders for a hedge fund. It's a signalling effect.

Although finally, what you think of yourself matters most. But to get ahead, you need enough people to believe you are good at your job

 

[siddhant4u]

SBICARD has relieved itself off alot of pain
did 747 today vs ipo price of 755. Although lower level buy has better avg so overall gains here.

might give opps to buy again soon...


hrly chart

 

[Smart_trade]

It's a filter. Almost anyone can say I am a trader. You just open an account at Zerodha and Robinhood and say you trade equities.
Random people cannot work as traders for a hedge fund. It's a signalling effect.

Although finally, what you think of yourself matters most. But to get ahead, you need enough people to believe you are good at your job

Once you believe in yourself that you are good in what you are doing, do it honestly, pay your taxes and multiply your money/assets then people will start believing in you.....my own experience atleast is that....

 

[Smart_trade]

Reliance PP at Rs 1000...yesterday there were no takers for Rs 960....

 

[sumosanammain]

It's a filter. Almost anyone can say I am a trader. You just open an account at Zerodha and Robinhood and say you trade equities.
Random people cannot work as traders for a hedge fund. It's a signalling effect.

Although finally, what you think of yourself matters most. But to get ahead, you need enough people to believe you are good at your job

Most traders who trade in banks, cannot trade their own money when it comes to it. They are conditioned to accept that there loss and profit belongs to the bank, they only get salary and if performance is good, an incentive.. They are not responsible for making good the losses generated by them. At worst, they loose their job.
In trading, the losses are ours, and so are the profits.
Our conditioning is WAY better than theirs.
So, if these institutional traders try their hands at trading their own accounts after leaving their jobs, it's a disaster. More dangerous than a newbie trading, as a newbie knows he knows nothing. This institutional trader feels he knows everything.
In the end, if anyone saying anything to you affecting you, I would say, you are still not conditioned for trading.

 

[sumosanammain]

Once you believe in yourself that you are good in what you are doing, do it honestly, pay your taxes and multiply your money/assets then people will start believing in you.....my own experience atleast is that....

Why should we do ANYTHING to gain acceptance from anyone.
If my child wants a car, I will buy one. Not to show my relatives that I have arrived in life.
My children love both fine dining as well as street food, equally. I know a relative who never takes his children to eat street food. His children crave street food, but they are not allowed to get down from their jaguar and eat street food.

 

[cinderblock]

Out of, say, 100 instl investors and 100 newbies, how many will "succeed" in trading? - Starting from scratch.

 

[travi]

Why should we do ANYTHING to gain acceptance from anyone.
If my child wants a car, I will buy one. Not to show my relatives that I have arrived in life.
My children love both fine dining as well as street food, equally. I know a relative who never takes his children to eat street food. His children crave street food, but they are not allowed to get down from their jaguar and eat street food.

nice sumo bhai, i'm imagining you & kids getting down from a Rolls and eating roadside golgappas

 

[sridhga]

Most traders who trade in banks, cannot trade their own money when it comes to it. They are conditioned to accept that there loss and profit belongs to the bank, they only get salary and if performance is good, an incentive.. They are not responsible for making good the losses generated by them. At worst, they loose their job.
In trading, the losses are ours, and so are the profits.
Our conditioning is WAY better than theirs.
So, if these institutional traders try their hands at trading their own accounts after leaving their jobs, it's a disaster. More dangerous than a newbie trading, as a newbie knows he knows nothing. This institutional trader feels he knows everything.
In the end, if anyone saying anything to you affecting you, I would say, you are still not conditioned for trading.

Most traders who work in banks are CFAs. CFA is more oriented towards fundamental analysis. They do also learn TA, but that is not considered as the 'main subject'. The Techinical analysis part in those organisations is handled mostly through computer systems. You do not see many Technical Analysts spanning the organisation. Risk management teams are different and they drive it again through computer controls. Software people are paid well in Investment banks.

TA is mainly for entry/exit timing and also for splitting the trades into smaller lots.