Glimpse of an Intrday Traders’ Journey?What not to do and what to do?


The question many newbie traders have been asking is, how to be successful in the stock market? How much time it is gonna take and whether we should take the help of a mentor via training program?We are gonna discuss all these questions here, with the help of a story, which have the nuggets if you read it carefully.

So, how to be successful in the stock market?

My answer in one sentence is

“the longer you stay in the market the longer your chances of getting successful”

70% of the traders quit in the first month.20% in first six months after blowing their accounts.5 % within a year and rest 4% goes till 3rd year and decides ,it is not their cup of tea.Only 1% make it to the end.

The story of rabbit and tortoise is actually true in the stock market. Slow and steady wins the race.If you think you come into the market and conquer the world, it is not gonna happen, period.

Lets take an example:

You come into the market with full preparation. You have forward tested your winning strategy in the market, its working like a charm with virtual account.You decided to jump in, you started with cash market…you are loosing some and winning some but overall you are loosing but not hell lotta.That is the perfect start. Six months have passed.

you found out that you need to tweak that strategy a bit therefor you again went to the drawing room and forward tested it. You saw some improvement and you are satisfied, you again entered into the market.Again into the cash market, this time you are breaking even. Also you have started making a journal and naoticing your emotional and mental state while trading. One and half year have passed.

Your strategy is great, have a win ratio of 50–60% but your win size is higher than lose size. You are getting more confidence in yourself and your strategy. You don’t pay heed to what is going on in the news around stock market and simultaneously improving other things.Your execution skill is getting better, but you are still into the cash market as you should be.Your stoploss is getting smaller and you are fine tuning and reviewing your strategy every quarter or month. 2 years have passed.

You have hit a brick wall, whatever you win you give back to the market.You are frustated and start doubting yourself. you think after tremendous amount of effort and putting time you are still not getting there and it is not reflecting in your bank account(But you are forgetting that you are still only 2 year old in the market). You think your strategy is not good enough. You think about society and getting jealous of your colleagues getting ahead of you.You think about quitting but somehow manage to stay and found out that real problem is not strategy but your psychology. You take out your psychology journal and notice that you are revenge trading, your PnL is red when your emotional state is not good etc So you start working on your psychology with the help of your trading and psychology journal.Meanwhile you also got more disciplined as you work on your psychology.Three years have passed.

Now you have got renewed vigour and energy. You have sorted out your psychology and realized that it took max amount of time among strategy, execution and psychology. You foray into derivatives. Since you have seen yourself making small profit, you are not swayed away when you do not make much into derivatives and take whatever market gives you. You are not greedy and fearful. Your profits are either bigger sized, medium sized or small sized, But your losses are always small. Your trading success is getting reflected into your bank account, now you have your own business and can work from any part of the world.

You are so proud of yourself and the one that trusted you along the way. Your friends/distant relative are very much jealous of you because you are so popular and earning more than them, they realized only skillfull people get popular and not the one who are running the rat race. You wanted to give back to the trading community and started your own training programme.

So, if you have read the above story carefully, you will find what it takes to be a successful trader.I am not at all against training program, just against those who run it as a business. Getting a mentor is really important if you wants to shorten your learning curve by few years, they will help you out when you are down and want to quit.

I have my own training program and I can be contacted via whatsapp at 8770194566.

Youtube Link :YourNiftyCoach

Thanks for reading.

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