Hello Guys,
People want to know my system, But to
me, making Profit from markets is not about the system, Its about
winning over your own emotions,its about the commitment, the determination
and some motive behind it. Find some motive, give your sweat and blood to it,
Success will come for sure.
I found my motive from somewhere - will
tell you my story - When I was In 12th standard, I came to know about IIT, I
dropped one year after 12th, joined one coaching institute, tried my best but
couldn't go past preliminary round. Second Attempt means waiting for one more
year.. So I joined a PVT Engg College in a city near my hometown. My dream was
shattered. I knew that I was just near the success, but due to
societal pressure, I didn't drop one more year and failed to get into IIT.
Then came 3rd year of Engineering, I thought, Lets try IIM now :), wrote CAT..
couldn't crack it. I used to get good score in Quants in Mock Tests but my
verbal was not up to the mark due to my schooling from small town. In the mean
while I joined an IT company after finishing my college. After few years, I
wrote CAT again that too when I was married, had daughter and had a home loan.
But again couldn't crack :(
That unfulfilled desire to get into
IIT/IIM was always there in some corner of my mind. Then One
fine day I thought -"I am bad in verbal, so what.. but I am good in
Quants, Let me work on my strength than to crib about my
weakness. Moreover, Many of the Guys from IIT/IIM get into number
crunching game and work as Investment banker only. Let me try something of
this sort. So what - If I don't have formal degree" I knew that there is
unlimited potential in financial markets which can be tapped.Why shouldn't
I excel in this field to satisfy my burning desire to do something for
which even IITian and IIM guy will look me with respect. I found
my motive that day, and started working on my goal. I had trading account
opened few years ago, which I had blown up a couple of times. I started
trading again with my new motive to excel in this field.
One key point which I kept on reminding
myself - "CAT/JEE aspirants have to wait for one year to
improvise to write CAT or JEE exam again. You have this market open
everyday. you can learn from your mistakes everyday. I was fully
determined this time . No matter what - I wont give up." I had met one
full time trader named Speculator("ichart handle") with help of
Rainbow("Ichart handle"). There were many other examples ( to name a
few, "Twist", "Jimmie" from icharts) who were working full
time in trading. So I had the evidence that yes its possible to be profitable
even if the odds are against the trader. I kept on working and working trying
to learn something new everyday. In the process I started treating
money as number, Yes its purely a number. Even its a money
making game, Detachment from the money is necessary to win this game.
Many times I am up M2M with 50k-60k, while
my TSL locks only 20k, I am ready to give back my 30-40k to the markets and
wait for my stop loss to be hit. And many times, this 50-60k M2m reaches to
80k-100k M2M and my TSL moves up and locks up 50k, and then further M2M reaches
140k , My TSL locks up 100k. How many of us can do it comfortably. If we can do
this and ready to give some paper profit back to market -> We can win
this market over long run. That's why I said its not the system, its the
winning over the emotions of greed and fear.
One Last piece of advice - Don't give up,
There will be times when you will feel like giving up, but Just don't give
up.The only problem with the Financial market is that "not giving up"
means burning some more money.. But remember we can not just come and straight
away making money from very first month. It took me 5-6 years to start
making me money. So You have to understand that you will have to pay tuition
fee. The cycle has to be completed.The steps are - Blow up your
account for few times -> Break even for a couple of years
- >Start making Profit. You can not directly jump to third step, no
matter how many seminars you join, how many books you read.
In my personal opinion - if one is ready
to invest 5-6 years in this field and ready to blow up his account a
number of times then only he should invest time and money in this. otherwise
there are many other fields, where you can excel.
I believe - One will be successful or not
? It just depends upon how strong one's desire is.
Having said all this - I am
still a learner. There are many better traders than me who trade in Zerodha
itself, but by God's grace I was given a chance to be profiled first. I have a
very long way to go to become a better trader.
Happy Trading And All The Best
Pawan