Can trading be considered for a living…as a profession..as a major source of income..?
It is a definite yes. But then, Can you derive your major source of income as a professional sportsperson..? Yes, but you need to put in a tremendous amount of time, discipline, hard work and above all a lot of patience.
Just like in any other business, if you have a winning formula, stick to it. Do it consistently. You go around the “Temple City – Madurai” and live there for 24 hours, you could become a better trader watching those “ant like” nature of people there. They don’t miss a thing when it comes to making money. Their enthusiasm is quite ineffective. Their hard work is quite admirable. Most of the street vendors have “never say die” attitude. I guess, all the traders are alike. If someone can make his living out of a 1000- 5000 Rs capital taking enormous risk on the street, Traders in dalal Street too can. If they fail, they have only themselves to blame and no one else. Traders on the street don’t repeat their mistakes because they know the hard realities. Traders in dalal street generally have casual approach to “money making” and tend to repeat theirs.
So Change that approach, you can get rich slowly and steadily. Wait for those opportune moment to make your winnings. Play it low during corrections as NO ONE can get that right while it is on but go full throttle once the trend is clear. Leave the intelligence at home, just follow the market like a herd .. Doubters can never make it. Believe in yourself, your own past experience will provide riches unimaginable.
Know your trade..So learn all the basics and methods and leave them to the analysts. Use only that works for you.
Consistent work, patience and a calm temperament and sticking to your plan/ method is a sure shot to Success. Talk less about your trades – Secrecy begets success.