Trading as Profession

neo1599

Active Member
#71
there's something called entrepreneurship...risk taking....and business. will you start a law firm tomorrow. If yes, and you are not a lawyer, then you can start trading tomorrow. and yes if you do both trading and your job expecting to excel one day and become a pro, sorry buddy! thank god tendulkar doesnt think of writing code at an IT company and play cricket in the afternoon, dreaming to play in the world cup.

Hi,

Before I start typing kindly let me make it clear that I am not trying to tear down the person who posted the above just trying to show the pitfalls of that particular piece of advice.


I am sure that the person who has posted the quoted words is may be in late teens to early twenties. Till about two years back I could very well have posted the above.


An entrepreneur is a person who takes a risk after calculating the probability of success and that of starting over if losses are incurred. I assume that the example of a law firm was taken at random, thus i will not comment on the fact that a law firm would not be in the realm of entrepreneurship.

Coming to the part about drop everything and start trading:

Tendulkar was a school going kid who played cricket. Then he started excelling at cricket but he was still a student. Then when he was at a level where his success as a cricketer could not have been in doubt he took the plunge and came to be what we know him as today.
Lets look at the various rounds of preparation he must have gone through:

Wake up before school to practice.
Go for training after school.
Play matches at every possible level
Achieve feats no one else has.
Reach Ranji level
Reach India level.

Even our cricketer's including virender sehwag hold down jobs.

I guess thats enuf to get my point accross.

We live in a society in which we have responsibilities no matter what age we are. It may be towards our parents or towards spouse and children.

An individual without the proper financial backing and planning would find it not only difficult but near impossible to survive in any capital market.

I have a lot of respect for Saint, and even in his post you may notice that
he didn't exactly stop being a Doctor till the time he was sure that his passion of trading was not just a passion but also something that could be converted into a full time financially sound trading model which he has not only traded but taught many in this forum.

Again I would like to repeat that this not to tear down the poster but sometihng which I have seen often in young traders including me and their subsequent falls.

Trading is one of the greatest fields to get into but you need to make sure you have the mental make-up to take the stress and the ability to cut losses and take profits.

Regards

Neo :)
 

beginner_av

Well-Known Member
#72
Hi,

Before I start typing kindly let me make it clear that I am not trying to tear down the person who posted the above just trying to show the pitfalls of that particular piece of advice.


I am sure that the person who has posted the quoted words is may be in late teens to early twenties. Till about two years back I could very well have posted the above.

.........................

Neo :)
Man you are a genius. I just turned 19 yesterday. and since i have inherited lots from my uncle, i am not worried about money at all. my monthly bills for the rest of my life dont matter.
tell me, how did you catch this?
 
H

hari09omkar

Guest
#73
Man you are a genius. I just turned 19 yesterday. and since i have inherited lots from my uncle, i am not worried about money at all. my monthly bills for the rest of my life dont matter.
tell me, how did you catch this?
By looking at ur login name,may be! Hope he didn't make out me as God!
By the way,he is 'near earth object'.:D
 

krishna23

Active Member
#74
Dear beginner, krishna

Each is entitled to his/her own opinion.

I dont see any reason why I cant continue my job and trade, I have been doing it for the last couple of years succesfully. For me, trading is not a living but only a means to make some extra money. I have the security of my job when the market goes down and it will take care of all my EMIs and other necessities.

For every Steve Pavlina, there is a Craig who wouldnt quit their jobs/professions -- http://www.swing-trade-stocks.com/trading-business.html

Cheers
i like the ease with which u assume i am a beginner:rolleyes:
well for u it may be some extra money for me it is everything...i don't trade just for the money but also because i love doing it...mind u i am not a gambler...and trading does take care of all my monetary needs...month after month-year after year!
i am amazed when people just assume someone becomes a trader cause they r not good enuf for any other job...

each is entitled to his own opinion but what matters more is respect for what others do...

and if u don't feel secure trading don't do it,as simple as that...

god bless u,
krishna
 
#75
Hi Krishna,

beginner is the other member in this forum (beginner_av), my fault that I missed the last part of his name..

"each is entitled to his own opinion but what matters more is respect for what others do"...

What you said is right; I wish we all follow it

Cheers...
 

krishna23

Active Member
#76
Hi Krishna,

beginner is the other member in this forum (beginner_av), my fault that I missed the last part of his name..

"each is entitled to his own opinion but what matters more is respect for what others do"...

What you said is right; I wish we all follow it

Cheers...
well mate no bad blood...
after all the goal is that we all help each other to the best of our ability...
peace:)
 
U

uasish

Guest
#78
Abhijeet(beginner_av)is a full time trader having a family with kid.
We all are just a beginner in this trading domain.
 
#80
Trading is the only source of Income for few of our members & am doing it since 6 yrs only.This path initially is difficult to adjust with,mounting losses will Tell on you,family responsibility has to run smoothly while you may be on the verge of bursting from the seam.A balanced cool head with single most focus & lots of mid night oil burning capacity can only bring you out from the pits.
A simple trading system,patience , conviction to act at right opprtunate moment,with agressive trade management are few skills which will automaticaly develop on process.
When a Big Win & continuous small Loss becomes a non event after some time ,with an adrenaline detached approach ,then you will come to know that it was indeed a nice decision to choose this as Living.
Please guide me...

I want to start trading full-time. This forum is full of information and lots and lots of helpful people like yourself, Saint, Traderji (of course), CreditViolet, Marcus ... etc etc.

My question is - I believe most newbies have this one - how much of capital is required initially.

I would like to trade MiniNifty initially ... and probably a low-priced
big-volume stock initially.

Is scalping very risky for beginners?

Please help me out on this one.

I may sound like I am aiming for the sky - but I was told that 1000-2000
can be easily made in day-trading.

Thanks in advance
 
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