New trader getting online :)

[tantragna]

Hello friends,

My name is Ashok, was working as a project engineer for the last few years in IT related facilities. Now want to get into full time into trading, but am an absolute starter into economics. For the past couple of months, am just trying to grasp as much as knowledge in this field. All I knew was that there was an option in life called trading (with the perception of gambling), so far I am able to understand that there is day-trading, but didn't knew much until I started reading a few books on these with a course in stock-markets with the famous Mr. Bharath Chandra. Also I had been through the Absolute beginner thread for day-trading which was real materialistic..

I have a friend who is into this trade from the past year or so, but not a very great trader, but who relies on tips which I am not comfortable working again with someone's clutches... that too with my money on stake!:annoyed: I always love to know the basics & the concept of working of a system.

I am not big shot, but just want to start with a bare basic of 5k on hand... Yes, thats all I have got with me for working like a slave for all these stupid companies... I have decided to start with RK Global in FnO, as I found it to be a better bet to start with the lower charges... atleast hope so.. I was searching for online help on this subject & struck with this forum here & am glad I landed here!:thumb:

Looking forward for great support and guidance from you all in this forum. Well one day I will be more than willing to guide others, after benefiting from this forum!

 

[Debarghya Mukherjee]

Hello Ashok,
Nice to meet you. I am also a new trader. I wish you lots of success in Stock market. :thumb:

 

[Debarghya Mukherjee]

Hello friends,

My name is Ashok, was working as a project engineer for the last few years in IT related facilities. Now want to get into full time into trading, but am an absolute starter into economics. For the past couple of months, am just trying to grasp as much as knowledge in this field. All I knew was that there was an option in life called trading (with the perception of gambling), so far I am able to understand that there is day-trading, but didn't knew much until I started reading a few books on these with a course in stock-markets with the famous Mr. Bharath Chandra. Also I had been through the Absolute beginner thread for day-trading which was real materialistic..

I have a friend who is into this trade from the past year or so, but not a very great trader, but who relies on tips which I am not comfortable working again with someone's clutches... that too with my money on stake!:annoyed: I always love to know the basics & the concept of working of a system.

I am not big shot, but just want to start with a bare basic of 5k on hand... Yes, thats all I have got with me for working like a slave for all these stupid companies... I have decided to start with RK Global in FnO, as I found it to be a better bet to start with the lower charges... atleast hope so.. I was searching for online help on this subject & struck with this forum here & am glad I landed here!:thumb:

Looking forward for great support and guidance from you all in this forum. Well one day I will be more than willing to guide others, after benefiting from this forum!

Friend tips maker makes mistake more often and they loose nothing. Even our broker also call us with lots of tips. Because tips maker need monthly/Yearly subscription charges and broker house needs brokerage to run business. So Stay away from them. Try to learn by yourself. Even if you make mistake this mistake will prevent you to do any more serious mistake in future.
Happy Trading
------------------------

 

[columbus]

Now want to get into full time into trading
I am not big shot, but just want to start with a bare basic of 5k on hand...

Reading books do help ,but going through the examples in Traderji will help
you better.Moreover trading will by yourself helps the BEST.Since you capital
is rather low ,you can start with ONE lot of MINIFTY or OPTIONS.Never rely
on tips.

 

[tantragna]

Thanks for the guidance & cheering Columbus & Debhargya!! Appreciate it! It was the same tips from the 25 rules of day trading by Douglas E.Zalesky.. very simple n straight..

 

[SexyTrader]

Day Trading is not so easy as it sounds!

Its pretty tricky, unless you have a knack for it.

 

[AW10]

Welcome to the world of trading Ashok and Debhargya.
Would like to give you few pointers
- decide your timeframe of trading based on the time that u can commit to monitor and analyse the market, frequency of trades that you need etc
- learn the basics of how market works, what kind of mistakes new traders make, why 85 to 90% people loose money here, Learn from other's mistake as much as possible.
- also read about what best trader who are collecting from other loosing traders, do regularly. Model them, do what they do. It may not give you millions but atleast willl put you that path which will lead you to millions.
- read a book called "Come Into My Trading Room - A Complete Guide To Trading" by Elder Alexander. There are many other books but this is good for starters to get real insight into trading.

Hope this helps.
Wishing you all the best here.

 

[tantragna]

Thanks for the advice Sexytrader & AW10! I know trading is like swimming with sharks, and I have the appetite for risks!

I feel its better to take a chance combined with knowledge & help from good people like you who speak openly, rather than to work under some bullish egoistic boss who is little good at where he really stands

I am still a rookie, and doing all the necessary ground work for better knowledge, before taking the plunge... I feel its better to head to a better known risky hell than to venture into an unknown heaven! After all the animal instincts in us will never let us to live a happy life forever in mutual peace n harmony Lets see whats in store in the next phase of my life, hoping for a better one

 

[sumeetsj]

My two cents:

Try to do some paper trades on real time first with actual trading.
Then slowly put actual trades on screen.
Paper trading will give u good confidence.
Also there are mock trading programs available,
(almost all MT4 trading platforms)

 

[tantragna]

Yeah Sumeet, I tried my hand in paper trading a couple of months ago in angel broking over facebook account, it was fun to see the numbers changing... but not in a positive way :lol:

I am also doing it in money control now... again have lost nearly 50k over 500k investment... boy was it a loss

but all these above examples were without any knowledge of how the system works... all i knew was to invest when market is going up & sell whenever the market takes the plunge.

will try one more time when i finish reading the first book.. let me see the difference...