Does Anyone here do trading ?
Does anyone here do trading ? In options or futures ? I also want to learn the same. Any suggestions from where should I start ? Thanks in advance
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Depends on your current knowledge, have you ever done any type of trading before ? Crypto or stocks (intraday ) ? Do you know how to read charts ?
Yes like one or two year ago! I started from YouTube . But after loosing 6k. I stopped it. But I know there is huge potential in it ! Isn’t that true ?
Just need to know, from where should I start fresh.
I have been trading for a few years now. Some of my observations:
- You will need to spend time learning things.
- It can get addictive and, if not controlled, can lead to substatial distraction from your regular job.
- As Abid Hassan from Sensibull says, the chances of making money is higher if you don't depend on trading to make a living. If your positions are small enough not to make a dent in your finances, the chances are higher that you don't make wrong decisions.
- The lower timeframe charts have high noise and not worth your time, especially if you are also working. The daily timeframe works well.
- If you trade intraday or in f&o, it is considered a business income and you need to use ITR3 or 4 for returns. Based on your turnover, you will need audit of accounts.
- Futures can get your heart racing. Due to the leverage, be prepared to see P&Ls fluctuating by ~10k for 1 lot in a day.
My recommendation is to first start with short-term trading in the delivery segment itself (without leverage) first. Once you gain confidence, start with lower risk option strategies.
For learning, i recommend the daily market analysis by abid hassan from sensibull, the sensibull training videos, learning articles at zerodha, and the excellent set of learn to trade series by vivek bajaj of stockedge.
Most sensible advice here. F&O trading is high risk and is not worth it if you have a daily job that requires you to be active during market hours. Most sensible option for folks is to SIPs but people being greedy for higher returns won't understand it.
PS: it's a personal opinion and not an investment advice
I have been involved professionally in trading (foreign/Indian markets) for 3 years now. I have also done fair share of trading for 4 years now (Breaking even now). My 10 cents on this
technical analysis or in maths terms (quantitative analysis). Both are same. See here, there are many Maths Wizards sitting in trading desk, whose only job is to find any pattern in chaos. Even they can’t do it, 90% of times. There are some very good traders out there but, THEY DON’T TEACH THEIR STRATEGIES. forget about 50K or 60K workshops. An actual traders who makes LAKHS from market won’t teach you strategy for even CRORES, cause once he
Once rule of thumb is, more the participants know about pattern, the less effective it will be (everyone jumping on while they see chance which reduces the patterns itself. - Efficient Market Hypothesis. )
So, if you think or believe that you can do it on your own with your own brain and IQ,EQ or whatever. Only then, involves yourself in this.
I have seen too many folks losing their Salaries, bonuses even portion of CTC in the market.
I starts forex trading way before Covid and stopped in 2022.
Suggestion:
- start from YouTube and blogs
- learn the basic terminologies, measurements, candles, market players.
- spend 1 hrs daily to analyse the chart and see what’s changed and why the change happened.
Thanks @Abdul for suggestion✌️. Are you still into trading ?
No am not.
Hey, I have been trading for the last 4 years. Let me know if you are still interested.
Yah @steppenwolf thanks for the reply. Could you also please guide me on how to start ?
I started with options and later realised that it's not at all easy to make money(consistently) trading options,there are so many limitations as well. It's a very risky form of trading for a beginner and i would advise you to stay away from options if you want to save yourself from financial and mental pain. Start with trading equities, it's a slow and boring process as prices don't fluctuate like they do in options where you can get 20 50% movement in a day but it is very rewarding in the long term. If you can't make money trading equities there is no way you can make money trading options. The risk of blowing your entire account size trading options is close to 100% whereas even if you follow basic risk management in equity trading max you will lose 10% if everything hits SL's in your portfolio. If you want to start with options/Crypto be mentally prepared to lose your account size at least 2,3 times in the process and after that you may not reach where you want to. You don't need to trade daily to make money in the market. I cannot suffice my experience in a few lines, but there is so much misinformation on the internet w.r.t options trading like it's a money making machine. Its opposite. Save yourself if you can. Let me know if you need any furthur information.
I do. I mostly do option selling.
I also want to step in trading.
Can you also suggest me ? How should I start. Thanks in advance
@Bonte, mind sharing your capital and yearly return ?
Only 1 idea 💡 I can give you :: kabhi bhi strategy khoj na mat... No strategy gonna work continuously it will stop after 1-3 good wins next same strategy fails 4-8times
So just concentrate risk reward and try to find a pattern of 1:2/3 minimum 1:2(risk: reward) ratio to become profitable at the month end.
Iske aage trading kuch bhi nahi hey 👋 my genuine experience
Go for Power of Stocks to learn basics to intermediate or Theta Gainer, both are available on youtube.
Most successful F&O trading strategy and very simple to learn - DONT DO IT!