How did you start?
I started through cryptocurrencies, I started training in bitcoin and some other cryptocurrencies and it was going good but after some time there came a time when cryptocurrencies were banned from the country and then all currencies went down in value so when I was trying to find something like that and then I came to know about the stock market. And then I researched it & joined professional training centre in Patel Nagar, Delhi. It was a professional academy named PTA So that’s how I started to learn about Stock Market.
How long have u been Trading?
2.5 years of experience as of June 2020
How long does it take for a new person to be profitable?
I think if a person is starting with proper guidance with proper professional guidance and if a person is going in a right direction, Like he is learning the basics, then basics of chart patterns, then horizontal lines, then support resistance and after that psychology part it will take at least six months. And after six months he can become profitable, and it will take one year for a trader to become profitable if he is going in the right direction. And if he is doing some research on youtube attending free webinars and seminars and it will take at least 2 to 2.5 years and that’s how much I took.
How should one trade? What are the essential parts of trading?
One should trade by following the process. He should create his trading plan and after they should work with basics, they should go for chart patterns, should understand what is support and resistance, and how to identify those levels, and should work on the level, should also have indicator knowledge, not all kind but at least RSI and volumes should go for this indicators. Like this first start from basics and then they should work on the market and essentials part of trading. I have told you understanding support resistance chart patterns understanding. How market works? These all the important parts. Then psychological parts, Not managing the risk, Not exercising the risk, these are the parts and one should do like this.
How do you suggest a new trader starts?
I think a trader should start by reading books I recommended like “Rich Trader New Trader” it is a very good book. And then he should research about it on google or youtube. He should get some basic ideas about it once he has done that he should do trading because it takes time at least one year
He should not come to make money. He should learn the skill and then apply it, he should find a good mentor there a so may mentors in the world he can choose anyone, and he should find a professional course and learn from it, do some practice, and then he should use the full potential of his capital, he should start slowly.
What's your story till yet?
My story is when I joined that professional starter academy in Delhi. The teacher was very knowledgeable “Yathatta sir”. But he did not know how to teach properly, he used to get angry on anything he was trying to make things very complex. So still it was a three-month course and I went there for approx one month but in those one month, I got totally demotivated that I cannot do the trading I can never do the trading so then I quit it. But the good thing was because of joining the institute Demat account open in upstocks because of that I got some calls from tip providers, signal providers from Gujarat and Indore. They called and told me that we trade on your behalf and you just put the money we have research and all so I was new and I said ok and I put 1 lakh rupees in my account, And they made 1 lakh rupees into 3 lakh rupees in 2 days, so I was super shocked and happy and ok if these people are already professional the why I have to learn I can simply give them 50% of my profits and I have to give nothing of my loss but then what happened next time when they provided the call I lost the total 3 lakh rupees it was option straight and I did not know what to do so again I trusted them and again they give me a call and I lose more than 1.5 lakhs and again I stop trading.
So this was one part of the journey and again same thing happened again someone else called after three months and again same loss happened and after some time i watched some youtube videos and tried to trade and i did like ok and then i lost the money again and then again i started fourth time this time it was a bull market so i was just buying options and i just making money and i made approximately 5 to 7 lakhs using two lakh rupees i was so happy but then what happened when the bull market gone off i lost all the money that i made again got demotivated and again i started taking coaching from some online institutes and again i got loss but while doing all this i was gaining experience and then suddenly i came access a event called finbridge its a event that happen twice a year and i went to mumbai paid the tickets price was around 16 thousand rupees for two days and then reached the mumbai and on saturday i went there i saw ck narayan he was giving the presentation to new traders and also he was selling his course and i got really interested and i was happy to see a lot of professional traders around the country and the he gave one day presentation i got impressed and i joined his professional course of three day real marketing mastery from saturday and sunday i attend the finbridge and on monday tuesday and wednesday i went to their office in mumbai and i was like really happy because of live market knowledge and because of the experience C.K Narayan sir was talking about the psychology part the raja sir was talking about technical analysis aspect it was good time spend their and i got to learn new things and this improve my trading and many more new things.now i came back from there and learn three four strategy from them and i started applying them and was making progress in my journey it was going good and then i started complicating things applying all the four strategies in one chart watching different different stocks at the same time and different strategies at the same time so i complicated all the things then i got demotivated after sometime election came and after that i tried again and i was thinking that bjp will gonna win and modi government will increase the things and when the real result came i was shocked i got a lot of calls and got fulled my stock and after that the market crashed and again i got so demotivated and after some time i went in a seminar it was again organised by ck narayan i got to mumbai book my tickets i got motivated lot by seeing different strategies everything went better and this time i was doing better and on constantly working along with that i was writing journals putting putting all the good things and bad things doing a lot of work and i was trading in commodities everything was going normal and i started to capture my negative points because of doing constantly journalist i became better and i started to took online classes and by constantly i was making losses and profits again and again i came to know about a lot things about maret options so it was a mixed journey and i spend around 1.5 to 2 years on learning the real result and the real change when i was serious in journaling i was daily writing down my thoughts that i came to know that i rushed to enter and i enter to bit quantities and i know about not to trade on options as options are volatile a small pullback caan make a disaster to you pnl if you are out of the options or the money even in the money options can make you panic by applying a lot of things i was constantly making profits and i was good in my trading i stopped trading on options then i started trading on commodities and currency and i was going in a good direction and after that so many people were asking me to open booming bull academy and i just took a demo session in nagpur it went good the three day seminar went good and few of the students were able to understand all the concepts and then i lost the company in december or lets say january and by giving training to students my trading become incredible day by day.
What do you think about markets?
I think market is a phenomenal place where one can come and make a lot of money. But it’s not easy definitely market is like you know walking on the street where you left all the gold shops open. And there is no security you can just come and take whatever amount you want like gold cash and diamonds. You can just go but there is one enemy one security you yourself is your enemy. You need the skill and that is not easy and definitely it take a lot of time hard work and experience
What's better? TA/FA? What do you use?
See fundamental analysis and technical analysis both are important. But it’s about what you are doing, if you are investing for a long time then the fundamental analysis should look upon, like companies or earning per share or there a lot of parameters to learn, there are a lot of books that I recommended in my website you should go and check out those books for fundamental analysis. If you are investing for 3 to 5 year then you should look for fundamental analysis. But if you want to trade like come for intraday or trade like for one hour or for 2 days then the fundamental analysis will not help you select good stocks with good volume liquidity, 80 50 stocks will good for you and then you need to look upon technical analysis. On a smaller time frame like of 5 mins or 50 mins time frame you need to understand that how the graph is moving how price action is working, and you need to understand the levels that if these levels breakdown then you need to learn about the technical parameters if you want to trade or short term definitely technical analysis and for the long term, definitely fundamental analysis all are good it’s upon you what you are working. As I am working for the short term and I only need to understand the technical analysis I don’t care what is company ratio what is turn over and if I get an opportunity to buy I will buy.
What do you suggest an experienced trader should do who’s in loss?
I think if someone is a professional trader and if he is going in loss constantly. He should cut trading, and understand that it is impossible to recover the lost money and through the way he is approaching the market he needs to wait and understand that he is doing something wrong. I think the most important would be the psychological part, or he should not be trusting himself, or he is in the psychological trap or you know of recovering the money fast as possible, and he is always in fearful mode, he should stop and wait and take a break of at least one month. And in one month he should read some books on psychology. Like “how to make living out of trading” and their other books on youtube. He should accept the fact that he cannot make money faster from markets. There a lot of possibilities but we should approach the market with a peaceful mind he should apply risk management. Only use small quantity at first because he is not having good strategy that he is losing a lot of money
So he should take a break make good strategies and then come back with risk management. And he will understand that soon he will gonna make money, and should approach a good mentor, and tell him about his problems and join his course. Learn from it and then come back with a calm and neutral peaceful and that how all should approach.
What are the challenges a Trader face?
A trader is full of challenges. A trader is always facing challenges whether it is technical or fundamental, be it an internet problem or psychological problem. You know there are a lot of challenges. The first challenge is obviously the market where it will go. Will it go up or down with the problem of psychologic. If he thinks the market goes up he will buy it because it is having fear of loss and after that market comes back and he has to face the loss it creates anxiety in the trade and again he takes some bad decisions. The biggest problem with the trader is the psychological problems one should not rush to trade or one should not buy with full power. like if I am having 5 lakhs rupees in my account I will not send it all first I will calculate the risk of losing a maximum of 5 to 10 thousand to trade then I should limit my stock or quantity. So we should do like that a trader most of the faces psychological problems like rushing in a trade if a trade is going bad because the trade thinks it will come back if he waits these are the kind of challenges. One should cut the losing trades rather than winning trades so the fear of missing out and increasing quantity and not taking the looses all these are the most important challenges.