1. Is Full Time Trading a career option?
YES, even though it is still not acceptable to the society. But slowly & steadily Indian youths r thinking of taking up full time trading as their career goal.
YES, even though it is still not acceptable to the society. But slowly & steadily Indian youths r thinking of taking up full time trading as their career goal.
Various full time successful traders who earn their bread & butter by trading are proving to be motivator & role model.
2. Is Trading a legal Profession?
YES. Though trading has gained some respect still some people have the doubt whether trading is legal even. Many people think trading as an extension of gambling hence this doubt.
YES. Though trading has gained some respect still some people have the doubt whether trading is legal even. Many people think trading as an extension of gambling hence this doubt.
3. What is the educational qualification to become a full-time trader?
Whenever we open a trading & demat a/c we are not required to submit any of our educational certificates to the broker. So, this answers the question.
Whenever we open a trading & demat a/c we are not required to submit any of our educational certificates to the broker. So, this answers the question.
But in my opinion, minimum knowledge of High School Mathematics is required to understand the basic concepts.
4. Is trading a business?
YES. Even though there is no visible infrastructure required & one can start trading with just a laptop & an internet connection, trading is treated as a business.
YES. Even though there is no visible infrastructure required & one can start trading with just a laptop & an internet connection, trading is treated as a business.
Reasons:
⚡️Sufficient capital is required. Money is the raw material in trading.
⚡️Business mindset is required. Trading income is not linear. Just like business there is lean & peak season. Cash flows are irregular. So, u should have the Psychology of an Entrepreneur.
⚡️Sufficient capital is required. Money is the raw material in trading.
⚡️Business mindset is required. Trading income is not linear. Just like business there is lean & peak season. Cash flows are irregular. So, u should have the Psychology of an Entrepreneur.
5. What are hardships in trading business?
As discussed earlier, trading is a business. So, it has all the limitations of a business. Some r listed here
🔹Drawdown both time wise & money wise.
As discussed earlier, trading is a business. So, it has all the limitations of a business. Some r listed here
🔹Drawdown both time wise & money wise.
🔹Change in external factors like SEBI, NSE rules.
🔹No regularity of cash flows.
Above r just few examples. Also, while undergoing difficult times mental cool must be kept intact. That is why Academics is not a hindrance to become a successful trader but Psychology is.
🔹No regularity of cash flows.
Above r just few examples. Also, while undergoing difficult times mental cool must be kept intact. That is why Academics is not a hindrance to become a successful trader but Psychology is.
6. How do u know that u can become a successful trader?
No one is born with the prior knowledge of what he will be doing in future. Doc, Engg, CA, Lawyers etc r not born with a sticker on their forehead stating their career choices.
No one is born with the prior knowledge of what he will be doing in future. Doc, Engg, CA, Lawyers etc r not born with a sticker on their forehead stating their career choices.
They give it a chance & some come out successful. Similar is the trading field. U must give it a try. u cannot know unless u explore.
7. How to switch from job to full time trading?
Below image tells u the method of switching from job to trading field in most objective manner.
pic credit @uttamkamlesh
Below image tells u the method of switching from job to trading field in most objective manner.
pic credit @uttamkamlesh
Myth : People generally think that traders earn without doing any real hard work.
Reality : We as traders work round the corner. Trading is a dynamic field. Every now & then some external factors affect our running system.
Reality : We as traders work round the corner. Trading is a dynamic field. Every now & then some external factors affect our running system.
We need to update our systems accordingly. This needs lot of research & hard work. Also, we strive towards betterment. We do lot of research to design better trading strategies. So, trading is not earning just by sitting.
It involves same hard work which an office going person does. Difference is that return of this hard work is huge as compared to hard work put in your day job.
Above were some of the tenets of trading as a full time profession. If u can add more do so in reply section. If u liked the thread like & retweet for wider audience.
Meanwhile follow @tradersushma for more such insights!
Meanwhile follow @tradersushma for more such insights!
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