Dear Friends
If you want to choose trading as a profession or any other profession there are four steps or I say there are four E's to become a professional
E :EDUCATION
E : EXAMINATION
E : EXPIREMENT
E : ETHICS
To become a professional just like a Doctor,C.A. or an Advocate one has to study a particular subject for a particular period and get educated.
After the EDUCATION one has to take EXAMINATION . If he fails he has to again go for the education so that he can pass his examination successfully.
After passing EXAMINATION one is ready to EXPIREMENT, just like a doctor one can perform operations ,practice like an Advocate or C.A.
But while truely professional.
While in the case of a stock market a person talks about leaving his job and going straight to the trading .Now you can think what a person will do if he goes straight to an operation theatre without any Degree and performing an operation or an Advocate going to courtroom or a person filing a return of a client without getting any knowledge of the trade.
This happens to most of us or I can say with me .Seeing some friends gaining from the market I too opened an online trading account and jumped to day trading without any knowledge well I realized my mistake quickly and lost only Rs. 8200 in about 14 intra day trades(I invested minimum 75000 and maximum 100000 during this period share khan gives leverage of about four times) .Now days I am going through all those technical books and keeping a watch on fundamentals of companies I sit for hours going through various threads on the forums ,watchin CNBC reading technical books suggested by the forum but I depend on my own findings though I take the leads from various sources .Now I do swing trading simultaneously with my study .I am not loosing any more I do not go for big trades.My goal is to learn for three more years then I will leave my job.
Initialy I depended on tips by broker and forum .Now I do my own research
It is well said by Oliver Wendell Holmes
"The average person goes to his grave with his music still in him."
Here I have a story to tell you.
Many years ago there lived a poor farmer in a village
All of his life he was poverty stricken
One day while working on the fields his fortunes changed
He discovered oil in his field
The discovery of oil made him a very wealthy man
One of the first thing he did was buy himself a big mercedes benz car
Every day he would drive into the town.He wanted to see everyone and be seen by everyone
He was a friendly person so while riding he wished and spoke to every one in sight
Some times he turned right to speak to some one
Some times he turned left to speak to some one
As a matter of fact,he would turn all the way around and speak to folks
Interestingly enough,he never ran into any body.
He never did any physical damage or propert damage.
WHY ?
Because the car was driven by two horses.
There was nothing wrong with the car's engine but he never learned to insert the key and switch on the ignition.
Many people make the mistake of looking outside to find two horsepower( Just like this farmer we too never switch on the engine we depend on rumors and luck )
when they should look inside where they have over a hundred horses-ready willing and raring to go.
SO TURN IT ON or OTHERWISE
Your "natural resources,' unlike the natural resources on planet earth,will be wasted and "used up" only if they are never used at all.
