iCharts Discussions

[akpanicker]

Just the other day in the icharts shout box when I said that nifty options are the best instrument for daytrading one person attempted to ridicule me by saying that you must be making 10% everyday trading options and you would become buffet before long etc………though I realized my mistake and said goodbye soon enough , I thought it would be useful to others if I post a message in this forum to show why such thinking is just hollow……..trading stocks and finding success is in itself a difficult task…….trading nifty options is all the more difficult as I look at it like trading a very high beta cash scrip without using margin in the intraday time frame…….initially it is like learning to rollerskate…….you take a lot of falls before you are able to stand on your feet and still a lot more before you are able to move gracefully……..you blow up your capital several times before you find a method that suits your temperament…….most people do not make it…..but once you reach a cruising level it is just routine…….you become like a taxidriver who turns up everyday at the stand and get short rides mostly and sometimes long rides…….anybody who has reached this level would know how difficult or almost impossible it is, to scale up……everyone has a certain limit – I would say something connected with one’s own concept of self worth – beyond which if you attempt to increase your trade size you would become nervous lose your cool and do some nonsense that would be self-sabotage in others view point……..that is why it is impossible to become a buffet like figure through daytrading niftyoptions but definitely you can make a steady income…….

I do not wish to impose my views on others in sb or attempt to influence others for the purpose of selling any goods or service……. i am quite happy with my trading I don’t see any need to advertise it or seek approval…….my intention was just an academic exchange of views………..since some people who dominate sb seem arrogate themselves the right to dictate to others what they can say or cannot say in sb, I shall keep myself out of it……..those interested may check my posts in the trading psychology section of this forum that I posted several years back

[shshah123]

akp remember
mai to akela chala tha .log ate gaye karawan ban gaya.
dont pay attention to sb comments they may not be sensible.
most expert make huge money in option only.
on 24/6/2016 i posted buy 8300 ce july which was near 32 and see the rate today even option can be positional also buy it when looks attractive now people talk of nf 8800 shortly .
all the best
( call can be confirmed from sb arc)

[Atrader]

Trading-- One should treat it like a business. As one said " different styles fights together". One has to adapt the system suits for oneself. Its a game of psychology. Here Ninja style works as well as style of sniper works. No matter which style one adepts, for all styles the most important thing required is "DISCIPLINE AND PATIENCE.".

Finally as Baba RANCHOR DAS said " Baccha kabil bano kamyabi Zak marke piche aayegi".

[akpanicker]

@ shshah123 and @ Atrader..............thank you for responding to my post.......irritating characters in any chat forum is nothing new......the key thing i wanted to point out was about the "mental hurdle" in the trading .....if one does not recognize this phenomenon what happens in the case of many of those who have made it beyond the first base in trading , is getting into a snake and ladder mode........you find success, gain confidence , scale up, lose it all and start all over again......one has to identify the ideal trade size that suits you.......it varies from person to person one should identify ones own limit......once you do that if you keep your trade size within that there should be no problem in repeating the same success in trade after trade.......another thing is this driving analogy to trading.....trading is just a skill like driving.....in both cases you can acquire the skill by doing it over and over again.....almost anybody can acquire the skill level to become a taxidriver.....but not a formula 1 driver....same with trading......almost anybody can , with some dedicated effort acquire the skill to earn a living.....but to aspire to be like rich and famous is a different ball game........that is all i wished say......thank you

[KingKong]

Whatever cool investor is Baffet, there's always a question of chance. I think he just was more lucky than others at some moment and that's all. He took chances when the others did not.

[Eskild]

To be wealthy doesn't really mean to make millions. The main thing in forex is patience and you should learn and never stop trying to make more money, then you're likely to succeesd

[Render]

It ia really a hard thing to become highly rich via trading. You will gain some profit then you have to lose some. You will lose somehow then you will gain some profit. It is a game of balancing profits and losses in a managed way. So, be ready for the challenging career!

[Fisgas]

Buffet is a great symbol of motivation for the traders. If we look at the lifestyle of the Buffet then we will come to know that he struggled a lot throughout his career for achieving this lifestyle. He worked hard with strong devotion and shear inspiration. Thanks!

[Alchemist]

[chetan83]

[apka]

Did buffet know he will become buffet?

If your own mind has set it up for you to believe it wont happen,then it will never.

You never know where the next big thing is coming from if you just keep trying to evolve

[pkholla]

Become rich like yourself. Why set artificial targets like I will become rich like Buffet, like Trump, like Steyer, like Jobs, like Maxine Waters, like Nancy Pelosa, ......
A Rajasthani once told me in Bombay (I am from K'taka), even if you make 4% return consistently, that is enough to make you comfortably well off!
Become rich like yourself, you cannot become someone else
Cheers, Prakash Holla

[Eskild]

If you want to become Warren Buffet then you have to think like him, act like him, and trade like him. First of all, you have to think positive all the time and have to respect the market. Secondly, you have to trade on a proper plan as you cannot get success without proper management of your account. Thanks

[Sun08]

holla sir, buffet became rich by insider trading, like many so called successful guys even in India. so develop contacts at management level in companies if you wish to make money illegal way. remember the famous dialogue in Godfather?

"behind every wealth, there is a crime."