Recently there was a discussion in Sudarshan's Blog about Trading for living and whether it was a practical idea?
you can check the details in these post
http://www.sudarshanonline.com/2010/01/trading-is-business-also-hobby.html
http://www.sudarshanonline.com/2010/01/trading-is-about-risk-capital.html
I made certain comments about the topic....which were as follows
Hello Sudarshan ji and readers,
whether trading can be done for living is an endless debate.
I firmly believe that trading can be done for living provide certain conditions are met
For example
1)A trader should have enough experience (10,000 hrs)before he decides that he wants to trade for living (if you start to trade for living from day one ...you will fail...badly)
2) A trader should be sufficiently capitalized (if you are trading one contract of mini nifty you should have complete value of contract in your trading account ie 1 lakh approximately),and enough money to trade multiple contracts.With multiple contracts taking ability you can practice better money management
3)Trader should not have any other debt(like educational loan in the case mentioned before)
Odds for achieving success become quite favorable if above conditions are met however experienced traders can work in very demanding conditions as well
Trading is like business,just as you have millions of people running their businesses successfully, so you can be successful too ...quite a lot of businesses fail,so you can fail too in trading
Understanding the risk and managing the risk is all you need
Sudarshan ji, I have been reading your blog since i started trading I am really thankful for your continuous support to fellow traders.
I have recently created a blog,apart from providing global and indian markets updates,my main objective is guiding traders to become responsible and consistent traders
this post the most important in my blog which every trader should read
I call it my holy grail
http://financeandtradingmadeeasy.blogspot.com/2010/01/holy-grail-of-trading-roadmap-to.html
Thanks ,god bless
******************************************
Finding your own space in the trading world is very important,and that takes a lot of time and effort
The sooner we realize that easier and less painful will be our journey towards our goals.
Life (as well a trading ) is all about probabilities,when certain things align in certain ways, things tend to look easy.We find an effortless way around things that once seemed complicated and impossible.
Good luck with your trading
http://www.sudarshanonline.com/2010/01/trading-is-about-risk-capital.html
I made certain comments about the topic....which were as follows
Hello Sudarshan ji and readers,
whether trading can be done for living is an endless debate.
I firmly believe that trading can be done for living provide certain conditions are met
For example
1)A trader should have enough experience (10,000 hrs)before he decides that he wants to trade for living (if you start to trade for living from day one ...you will fail...badly)
2) A trader should be sufficiently capitalized (if you are trading one contract of mini nifty you should have complete value of contract in your trading account ie 1 lakh approximately),and enough money to trade multiple contracts.With multiple contracts taking ability you can practice better money management
3)Trader should not have any other debt(like educational loan in the case mentioned before)
Odds for achieving success become quite favorable if above conditions are met however experienced traders can work in very demanding conditions as well
Trading is like business,just as you have millions of people running their businesses successfully, so you can be successful too ...quite a lot of businesses fail,so you can fail too in trading
Understanding the risk and managing the risk is all you need
Sudarshan ji, I have been reading your blog since i started trading I am really thankful for your continuous support to fellow traders.
I have recently created a blog,apart from providing global and indian markets updates,my main objective is guiding traders to become responsible and consistent traders
this post the most important in my blog which every trader should read
I call it my holy grail
http://financeandtradingmadeeasy.blogspot.com/2010/01/holy-grail-of-trading-roadmap-to.html
Thanks ,god bless
******************************************
Finding your own space in the trading world is very important,and that takes a lot of time and effort
The sooner we realize that easier and less painful will be our journey towards our goals.
Life (as well a trading ) is all about probabilities,when certain things align in certain ways, things tend to look easy.We find an effortless way around things that once seemed complicated and impossible.
Good luck with your trading
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