Is it possible to become rich by stock trading? Do people make enough out of day trading? Part 1

Stock Marketing Advise Part 1

by Kranthi Raj, Ent surgeon/Fulltime stock trader/ Farmer/Memory trainer

Firstly I am a doctor and I am not here to Promote any business or sell a course. I started trading for fun initially just to see how it goes but later on, I fell in love with the markets and took it as serious business. For all those who sell courses and ask for monthly fees for giving Sureshot tips, Please tell me why do you need money from clients when you can make money yourself with all that knowledge you have.???

Yes, its possible to earn more than enough money out of stock trading but the journey is long and tedious to become one. For me, it took more than 3 and 1/2 years to change from being a regular loser to a regular gainer. Have a look at the screenshots of my past ten day trades and you will understand what I meant.

The trades with flowers are those which were still active and I put a flower to cover the quantity just so that it doesn't give a false impression to newbies. I don't leverage but if I find profits the same day ill close or else ill keep it open

I would also like to comment on what all things are important to achieve this level of proficiency

1. Don't Leverage which will force you to close your trade on the same day, many times it will hurt u badly.
2. Don't trade on tips and gurus. Most of them are losers!! Instead, it's better to learn to catch the fish yourself.
3. Find a good mentor and learn from their experiences. You will save a lot of time and money by their learnings.
4. you need to have the right understanding of charts and market movements. if you track the market every day for many months you will get a grip of how it behaves.
5. You need to have a strategy of entry and exit, not necessary that u should have a very complex setup but anything that u plan to use do backtesting first and a lot of paper trades and then use ur real money.
6. Adequate funds to hold red days. If you have X rs don't use the full amount to take positions may keep half of it open only.
7. If your strategy is showing a change of trend don't hold on to your losses to expect a miracle to happen. Most possibly it won't.
8. Don't rush to stay in trades all the time, wait like a tiger to attack at the right moment.
9. The market will always be there, opportunities will keep coming don't trade excessively
10. Never fight the trend. Go alongside the trend of the market and you will be happy 90% of the time !!

I can keep writing tons of things but some other time.

Cheers!

P.S: For all those who want to message me please do join the group. It's a place to learn charts. And please don't expect anything else, it's not for tips or selling of course. Just a place to give help and advise about how to catch the fish. I Don't need any money I can earn adequately on trades.