I know something vague has hit me because I am asking this question.
Actually this has not remained as a question since 6 months. But after incurring losses every month and year; since I started trading 6 years back; whether its intraday or swing; using technical indicators or patterns; this 35% profit per month fact has struck me like a lightening and I am still not recovering from the pleasant shock and most often I laugh over this fact.
This fact is not happening with me as I still make net losses on my own trades. But 6 months back very accidentally happened to meet a middle aged guy who is staying in my locality. He is shy, introvert, not ever appeared on social media or mobile phone platforms, not to be seen on public functions. No body knows about him or his trading profession as he is rarely seen outside of his house and never talked about it with anyone.
6 months back I happened to meet him and came to know that he is trading intraday in stock market for a living. I smilingly (rather sarcastically) asked - how much percentage he is making monthly for a living? I really wanted to know how much he is actually losing monthly. I wanted to compare my losing with him.
He told minimum 35% profits monthly on 9 lakhs capital. I was sure he was bluffing. Without hesitation i told him that I am making losses since the day I started and how can he make such insane profits?! He smilingly told that he is studied rather different things about the market and asked me to come to his home at 8.30a.m to get recommendation for the day.
If you are interested in real trading then at least you have to come over and visit me personally for the day. He was serious. He did not had any zeal in his voice. He was flat without any excitement. He talked very very less. He looked like a real loser.
Out of curiosity, to test him I visited his 800 mtrs away house at 8.30a,m. randomly as he never gave out his phone number. He said he does not like all these digital gadgets and don’t want to even talk on phone which just adds up to noise in his mind. He said he is using some pentium powered laptop which is some 8 years old for trading.
“Buy or sell” at around average opening price within 6 to 12 minutes of the opening bell and get out of the trade when your profit exceeds 11k per lot. That is the only instruction he gave. If you did not get your 11K from the average buy or sell price of the opening price, just hold on for the next day. Never fear, never exit in a loss and NO STOP LOSS. This was another added instruction from him.
In these 6 months I paid random visit to his house at 8.30a.m. to get intraday recommendations. I visited weekly once. He does not trade on expiry week and on some eventful days like budget and election results even if it is state election results. There will be some 9 days off in a month starting from expiry week to his trading. He said - candles will be disturbed during the expiry week and if I say more - you will not understand! - that’s another point he adds. At least 20 to 25 recommendation I got from him on random days in these 6 months. All exited at 11K or more profits in intraday. I noticed that the day I did not get 11K profit per lot; the next day the position went to give 20K profits or more comfortably.
Today morning I visited him for a few minutes and got a buy call for Jindal Steel and Tata Steel at around opening price. Exited Jindal Steel in 13K profits/lot and Tata Steel in 11k profit.
For me he looks like possessed by superior knowledge. He does not talk at all even if I try drag him into conversation. I guess talking puts him in off mode. He himself says that - all the things around you is just noise. He is not at all interested in money matters. At some point of time he told me that money does not excite him but only his views for the day and he is not greedy by birth and more spiritual in thoughts. He said it took him 10 years of very hard work to gain the exact working knowledge of the stock market. In those 10 hard working years he lost around some 23 lakhs due to real trading without adding any income and survived on many credit cards he had paying high interest. But he never lost hope even though he is not financially stable and only the thing he mastered was focus about price movement -he said. He also said - i may see a digit “6” while he may see a digit “9” while others may see something else regarding the stock market views. He always advises me to stay away from my own trading - as i bound to get losses due to my lack of knowledge. As far as I know he trades with only 1 or 2 lots max. per trade and not more that 2 trades for the day- however sure he is about his views. And he does not like to be in front of his laptop; even if its an intraday; once he punched his buy/sell order in the morning. He strictly tells me that not to exceed 1 lot for his recommendation as stock market would be there even after 10 years from here on everyday.
Great man great thoughts great knowledge. I am sure he would get annoyed if ever he comes to know that I wrote about him in a public platform. Such an introvert man. I hope he never know about this site.
There might be many traders here who does the same magic. But its my fortune that I met one in my life time and got to know how they look, behave and think! My English language is not so good but could not stop myself from writing after this wonderful experience about a real gritty successful trader. Thanks for reading.