Full Time Traders

How many traders are out here who trade full time for living?. Tell me something about your experiences & from how much long time you are doing it.

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I was once a full time trader but it lasted only few months then i again found agood job where i can pursue trading and at the same time i can continue my professional life.but need to say i was purely the owner of my time while trading full time but some sort of insecure feel does arise often and questions about the future also comes in mind.

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me :slight_smile: though i’m still in learning process

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May we know why you want to know and also are you a trader or a trading trainer?

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I’m just curious to know that. Who many are there how take this as a full time job. I’m not a trainer I’m just Trader & also I’m doing this for a full time.:sunglasses::computer:

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Fear Factor will greater role. In you are dependent on the trading income and make losses continuously then it will increase fear and make more losses. So you can’t do full time trading when you depend on the profits for living.

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1 year . my only piece of advice is don’t use real money until start making profit with paper/mock trading . read & learn everything you can from internet , follow market 24 x 7 everywhere , watch business channels try to learn technical & fundamental analysis , if u love market it would also love u back :grinning:

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Full time trader since 2009…

I learnt market for 3 years and started with 10,000 rs. in 2012 and made more than 1 caror of profit and managing friends and family account of total of around 3 crores.

Journey was bit rough and painful but happy to see hard work paying off.

Let me know if you want any specific details.

Thankyou

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Did you really turned 10,000 in 1Cr. How did you do it?. What is your strategy?. Are u trading options.?

Yes ,i have batter track record than Indian trading league winner,i made 29,000% return in 18 months,i also have audit and ca certification to support it.

I made it in commodity.with 10000 i bought goldmini and micro contracts and things like that.

Though i want recommend such endeavour to anyone.

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Please tell me what is your strategy?.

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The basic technical analysis and chart reading.Nothing new nothing special.

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@haribabu There are many challenges to becoming a successful trader and money and being profitable is only two of them. Devising a strategy for everything, including psychological challenges, is what makes a true successful trader.

I am a day trader, and whenever I take a trade, every time, I am afraid. And when I am afraid, I am more alert than a fox and check and re-check my position until I close my position. Next day I am ready for my next round of adrenaline rush. That is what I live for. I never think of, what if I fail, what if I have no money. If you do, you will prepare for it.

When you prepare for failure, you are making a channel for failure to reach you. So I just keep my door tightly shut for any failure to reach me. But when it still reaches me, my channel for success gives me just another opportunity because failures cannot last if they come through “success channel” :wink:

@chintan_sodha Nice to hear that. I am on my way too. Right now I am just accumulating, When I reach a certain amount of capital, I will be taking more risks and trade more.

I took zerodha 60 day challenge twice and failed both times. Although loss margin was much less the second time, I lost interest because I learned, why I was losing and I got more interested in nifty options instead.

I took the challenge for commodity and traded purely in crudeoil mini.

Can you tell me how you invest/trade a crore of rupee in the markets. Because I have always wondered, how will I invest once my capital grows to that much.

And me too, only chart reading. No news, no fundamental analysis etc. Strictly my own charts. Even, I don’t give any weight to per-open. If I can see it on my chart, I can analyze what must have happened and what to do next.

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i know it is all about chart reading .
my combinations are MOVING AVERAGES 10,50,200
MACD
RSI (60,40)
is there any chance of improving this
can you please discuss your view on that

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@ram_verma its not just about chart reading, but understanding what it means. Also, markets don’t move according to charts, charts move according to markets.

When you are able to realize and understand this, you will truly understand charts and will be able to trade based on any kind of chart, not only MACD and RSI.

EDIT:

Stick to higher ground (50, 100, 200). They will move even more slowly and give you better opportunities. Always remember, charts move according to markets and not vice versa. Don’t do too many indicators. Simpler is more powerful. Just take very small risks, trade daily and try to understand what the chart is saying to you. Follow a daily routine. When to trade, when not, when to give time to reading charts. Be prepared for next day. Without preparations, you are just gambling.

Repeat, repeat and repeat. Only way to learn. (According to me). So take least risk, don’t get excited, don’t despair and trade, trade and trade. Don’t put all your money all at once. Do paper trade, but don’t over do it. At one point, you must trade with real money, whether you make profit or loss. Analyze your mistake and go again.

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@ram_verma I dont use any indicator.Only naked charts.And i am being truthful i don’t lie about how i made it.

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what about time frame

Very nicely articulated.

When ashok leyaland was trading at 32-33 I had observed it would go big. I took out a printout of the chart and successful past reading of it (on intraday basis) and went to ask for funding. I got none. A year later or so it was trading at 103 -104 I guess. Had people invested then… I would have made big commission…

@ram_verma: You have to test that too. What works for you. People trade 5 minute, 15m, 30m or even hourly charts. But always remember that with each different time frame, chart meaning changes too. And then being able to read candlesticks could come in handy, but there are several combinations and can cause confusion.

So I would again like to stress on the fact that charts move according to markets. Which means, you cannot give too much importance to charts, atleast not all of it. But work on your psychology of fear and greed as well. When you are calm, charts will automatically become more meaningful.

I have personally traded all time frames and settled on one minute charts for intraday. But that does not mean, it will work for you too. You have to choose a system and give it enough time, all the while not getting dependent on it. In other words, make the charts work for you, don’t work for the charts.

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Try one minute charts (for intraday). But you have to test everything. What works for you. Also, when you change time frame, meaning of chart will change too. So try to stick to one system and rather practice it than changing things on every failure.

If you are attached to your chart and not learning to listen to yourself, when to trade and when not to. You will keep making mistakes, however perfect the chart and indicator may be.