vanathi
Education

NewBie's Corner!!!

NSE:BANKNIFTY   NIFTY BANK
Query : What type of mind set needed to become a trader? Answer : Trading/investing is not for faint of heart. It is not for everyone. We have plenty of chances to make money, and there is also plenty of chances to lose money in share market. To make money one should learn technical analysis , form a trading strategy, trading rules, stick to the plan and execute it well. There is no 100% right strategy or trading rules. But with the help of stoploss and trial stop we can protect our profit. And other important thing a person need is necessity to trade or love for trading. Neccessity makes a person to work hard to achieve what they want. And the emotion "love for trading" makes you to become the price action itself.
Comment: Next week's topic is "how long it will take to become a trader?"
Comment: Thought from a friend, "People don't understand that when they start a business, income doesnt start from day 1... it almost take a year or so to get back the invested money.Why people don't co-relate trading with business ?? Market is not here to give us easy money...
“If you want to be a
successful trader become
the casino, not the gambler”
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i want to became a trader
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vanathi TOP rupambose32
@rupambose32, You are the pattern expert trader :) I learn patterns from you.
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@vanathi, but they donot work
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Hi,

On a lighter note, going by the question mentioned "Who can become a Trader ? " my answer will be anyone can become a trader :-) but will be successful or not that's a different story altogether. But my question is who can be considered a successful trader ? What is the criteria for judging it ? How can a person know on which level he/she stands?

Regards
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vanathi TOP hotpot64
@hotpot64, I know where u stand Raunak :)
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ananth1960 hotpot64
@hotpot64, ........ a successful trader is one who makes profit consistently month after month for years............just look at the chart of your trading capital you would know where you stand - a steady uptrend means you have arrived.....a flat trend means you are on the way almost there.......steady downtrend means you belong to the vast majority of traders who would get wiped out if they continue to trade
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hotpot64 ananth1960
@ananth1960, Thanks for your detailed reply. I have few more queries, "........ a successful trader is one who makes profit consistently month after month for years........." -
1. Who can I consider my trading idol ? as I have not come across any successful trader who is consistently making money from trading. If you know anybody then pls share the details.
2.What percentage can be considered as ideal rate of return in trading ?
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ananth1960 hotpot64
@hotpot64,

1 - do not look at other traders as idols or ideals .....just look at your own performance in the last year or last month and strive to do better than that in the next month or year

2 - there is no ideal percentage of return - it all depends on your trading skill - bench mark is how soon can you generate profit equal to your trading capital - say you make it one year now - it may be ideal if you can bring it down to whatever possible according to your skill level
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hotpot64 ananth1960
@ananth1960,
1. My saying about trading idol in the sense is a person "........ a successful trader is one who makes profit consistently month after month for years........." as suggested by
you. Do you or anybody on this forum knows any successful trader in present or past who fulfills the criteria of making consistent profit month after month for years.

2. Profit equal to trading capital means 100% appreciation, is this a realistic target ?
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