Every trader has to go through a very painful phase of repeated losses before they can discover their own edge. Trading is simple but definitely not easy. Unless and until a trader is able to see a chart and decide whether to buy, sell or ignore the stock within 2 minutes his journey towards becoming a full time trader hasn’t begun.
One also needs to find a good mentor who can guide the trader. Traders Carnival is the place where one can find good mentors. AP Sir has guided me since 2012 and I owe him for my trading success. Fortunes can be made by studying the charts posted by AP Sir on Twitter. There are over 5k+ charts posted by AP Sir. Still whenever I have doubt I send my chart to AP Sir to know his perspective.
TC gives the much needed platform to escape the chaos. (My own journey would have been much easier if TC was there in the year 2010.)
Few points to note for taking trading as a full time profession
- Have a separate Portfolio cash a/c & Trading a/c
- Have adequate capital in FDs, PPF, Insurance
- Start trading with decent capital of 7-10 lakhs (1 lot futures for a max 3-4 positions at a time)
- Don’t expect to make more than 3-5% gains on the trading a/c per month (some months might also give 15-20% gains)
- Sleep 6-8 hours a day, a trading mind needs adequate rest.
- Read one new trading book every week
- Avoid Twitter/Social Media during market hours.
- Never hide your losses from your Wife(She will always give genuine feedback)
Sujoy Dhar, once a banker, now trades full time. He tweets at https://twitter.com/sujoydharr1