My short term success story

Let me tell you my story from the beginning.

I am a self-taught individual working for myself.

Once I went to SBI for some work my dad had told me to do. I met a person there who was a broker and was persuading everyone who came to the bank to open a demat account in SBI cap securities. He was also solving doubts of various people who didn't knew what to write in those application/demand draft/other forms. I too asked a doubt to him and he engaged with me in a normal conversation. After some time, he showed me his SBI smart application in which there were share prices listed and they were changing constantly. At that time, I knew nothing about what exactly is a Capital market, how to invest into it etc etc. I was completely clueless about what was going on. But what intrigued me was that the man told me he earns 300rs/day. I was like…ooo…but how? Just by staring at something into the mobile. I was agape. I thought he was fooling me. But then he told me something about it and the fact that he told me he earned daily, moreover he was a certified broker (I saw his badge) led me to believe his sayings. I was also thinking of opening a demat account now.

I went home and told my dad about all this and said I want to open a demat account. My dad knew what a demat account was and he had previously invested in some mutual funds and lost money so he was totally against opening a demat account. I persuaded him and meanwhile started reading about stock markets from the beginning. I knew that my dad would never go against my will as he is a very understanding person.

After a day, I opened a demat account with SBI cap securities and started reading about Intraday trading in detail. I used to pester my broker daily with lots of doubts. I used to sit in the SBI branch for almost 2–3 hrs daily repeatedly asking him doubts. Sometimes people even used to ask me how to fill the demamd draft and I used to reply them by saying I don't work in this bank.

After 15–20 days the broker got frustrated much to my expectation and said I don't know more than this. You need to learn by yourself. Till that time, I knew that he didn't know much about stock markets and he would definitely not help me in the long run as he lacked the precious information and knowledge I was looking for.

Then I started learning from dust and simultaneously I did trading. At first, it was fun. It was just like a game.(as everything was online, you don't get the feel that you're trading with real money as you just see numbers) I made some money in the beginning and got more and more excited to trade. It was like an addiction then. I used to trade daily with a little amount and most of the times I earned(initially). Lest did I know that my worst nightmare is yet to come.

So after some days I made a loss(more than my appetite). I was stunned. I thought its just like a game as I had read somewhere “losses are a part of the game”. It took me two complete days to digest that thought that I lost money. I didn't tell my parents about it. Then it became a habit. If I earned 1k for trading almost 3 long days in tension and frustation I used to lose 3 times what I had earned in a single day rather in just 1-2 hours. I was just an addiction. I made same mistake a lot of newbies make - Trading most or all of your capital on a single script in an illusion of huge profits. I must say I hate this sentence from the deepest core of my heart as it had made me broke once.

But learning from your mistakes is the best thing one can do that too in the right time as well teach others the same thing because EXPERIENCE counts mannn!!!!! EXPERIENCE counts.

Over to the story, slowly as days passed, I lost more and more money and started cursing market for being so rude only with me and started cursing myself for investing a huge amount of money into it. I even leaned a huge amount from my savings account to my demat account without asking my dad. I never did this before but I don't know what made me do that on that day. I used to tell my parents only the profits and I never told them my losses. The losses gave me sleepless nights and frightening nightmares. I used to fight with my friends at petty issues. I started yelling at my parents and others for small things.

Intraday wiped out my whole capital and I leaned more. So I started trading with that money. I was sure that I'll make huge profits one day. I was determined to myself. But this time, I didn't trade blindly. Firstly, for some months I read each and every article I found, followed a lot of pages, a lot of people, saw innumerable interviews, met many people for knowledge but I couldn't get complete knowledge anywhere. Then I learnt that I'll have to work day and night and learn each and every aspect of Intraday trading. I left no stone unturned in learning each and everything I found useful. Days passed and I thought I was prepared now. I had learnt some techniques also by then.

I started trading again with full confidence of making profit this time. I was expecting profits this time but still I ended up in losses for days. And that too huge losses this time. Once I remember I lost _k for almost 5 consecutive days. That was it. I had had enough. This haplessly morbid week gave me my worst nightmares. I was dumbfounded. I was bewidered. I felt like this is one of the biggest mistake in my life. I was shocked to my core that even after gaining so much knowledge, I was unable to make profits. My passion had become a deathbowl for me by then. I was clueless. Am I the most unlucky person on the Earth? Am I not worth a thing? Will I not be able to earn ever in stock markets?

There were days I felt like I should quit everything- my education, my hobbies, my life. I felt like I was good at nothing. The stormy winds of stock markets had blown me completely… to such a place from where I felt there was no return.

I stopped trading. Days passed and I read an article on markets in the newspaper. I am a sort of person who likes inspirational and motivational videos and quotes very much. They always help me in renewing my vigor, my zeal. They become an impetus for me. So after watching some inspirational movies and after reading about some tycoons of stock markets I started reading about Intraday trading once more. To my surprise, I found that there were many more things to learn. I started reading lots of books and gaining knowledge from them.

After some days I realised what had gone wrong the second time. I realized that I was lacking experience which was very essential to earn consistent profits. I was lacking discipline which was the second most essential factor after experience which I lacked. I had knowledge but very less experience and almost no discipline.

Then I started to read about discipline and implement it to gain experience. Like for eg:- I decided to myself, if I earn rs500-1000/day I will not trade after that. Even if I got a very beautiful opportunity to trade after I had earned rs500 in a day, I didn't trade for that day. Same was for the losses also that if I lost rs500 in a day, I would not trade after that as I knew by then that trading in frustration causes overtrading and which ultimately causes losses.

I had decided to master Intraday by then. By hook or by crook, I just wanted to be successful. It was enough now. I had had a lot. I was determined and I started doing my research. Thus my journey of becoming successful which seemed almost impossible at that time started.

I started watching charts for hours and analyse whether they create a pattern. I started writing down 20 scripts a day. Their open,high low,close and change in a particular day. I wrote these each day for months and tried to analyse what would happens to a script whose CMP is increasing for the past two days. I gathered that it will show correction the next day. I had decided to master Intraday trading by then. One of my favourite script for such type was Ultratech cement. It went a massive 100 points in a particular day within 15 days and on the next day plummeted by atleast more than 40 points. I started making profits from these beautiful opportunities I found.

There were times when I was in 2k profits but the positions were still open and in greed of more, I have suffered losses straight to -4k or even more which led me to literally bang my head on the wall and tear a pillow cover. I became frothing furious by this foolish act of mine. So slowly I learned to book small profits at each step.

I started watching the news and reading Economic times daily to know what was happening to the market. Slowly, I mastered how the news affected the markets by constantly watching Intraday market for days.

I learnt that trading daily is the biggest mistake one can make. There is always a correct time to enter markets and open positions. You just have to find the right opportunity to trade. Trade not more than 10–15 minutes. Intraday is not about sitting in front of laptop the whole day watching charts. Also,There must always be a reason to trade. Never trade without a reason. I never opened a position whenever I was confused or I was not sure about the script. I had controlled my uncontrollable desire to open a position many-a-times.

I learnt how the market works, what to do what not to do, what is an IPO: steps of an IPO, what is artificial demand? how is it created, how to trade a breakout, how to trade various patterns like triangle, cup and handle, bat, head and shoulders, flag, wedge, what happens when a swing high/swing low is formed, what is a whipsaw, what are the various patterns that are formed, how to use filters to our benefit, how to put a stop loss,how to set targets, how to set a trailing stop loss and most important which script to select, when to enter a trade and when to square off positions to book maximum profits etc etc etccccc……..

AND devised my own strategies to trade. I strongly believe that each and every trader has a different strategy to trade and he should devise his own strategy by KNOWLEDGE,EXPERIENCE AND DISCIPLINE.

Slowly and steadily after that, I covered my losses and started teaching my friends who always had been very curious to know how it all works.

Teaching is a profession that has always intrigued me. I started my own whatsapp group and started posting my daily profits on that group. Firstly, there was severe criticism but after a couple of months, they believed me.

There was huge demand to it and a lot of people wanted to learn. It was not possible for me to handle so many people still I am trying my best to help each and everyone. Slowly, I had to stop trading due to so many people messaging me and asking doubts daily. Moreover, as I am not a full time trader, I have many daily chores to do. I have important exams coming up so I need to concentrate more on the studies. So I am left with almost no time for trading as it requires a happy mood, no tension for that day, no disturbance from the house or peers and orientation to trade for a certain period of time.

I am busy most of the times still I try my best to reply everyone. I still receive more than 20 unknown messages everyday some asking weird doubts, many asking me the right time to enter and exit a script and much more. But I believe its normal so I take it lightly. Due to all this, I started my paid course and paid calls services for beginners and traders resp. as it was not possible for me to teach everyone for free. There was consistent demand to it and I managed all of them. I still do.

Then I started two more groups on whatsapp in which many people share their knowledge and experiences. I hope to open my website,mobile application and advisory firm soon.

I just want to tell you all, I have never cheated anyone in my life nor would I ever do that. I am a genuine, hard working individual. I do not belong to any organization. I have done some courses whose names I'll upload on Quora soon.

So how does it feel to be successful?

Haha…it shivers my spine even when I think of those difficult days I faced. I believe every successful trader has to face similar days in order to be successful.

The indelible scar of losses you had incurred becomes your motivating force to move on and on and on.

I truly believe that anything in this world is achievable if you have a willing heart. If Warren Buffet can do it, so can we.

Some of my all time motivating quotes include:-

1. No pain no gain.

2. A journey of thousand miles start with a single step.

3. Only he who suffers feels the anguish of sorrow.

4. Learn till the heart stops and brain reels and you think you will go mad.

5. If you have a dream, dare to chase it.

6. Paddle your own canoe.

7. Heroes are made, not born.

8. Everyday is a chance to change your life.

9. Much of life's beauty comes from being a part larger than yourself.

10. Be not afraid of going slow, be only afraid of standing still.

11. The purpose of life is a life of purpose.

12. Destiny is stubborn, just like you. Only if you walk towards it, it'll walk towards you.

Note 1:- One thing that I didn't mention was that when my dad saw the passbook where my leaned amount was mentioned which I did without asking him I got severe scoldings from my father. I consistently heard taunts because of which I felt more depressed as I had done the wrong thing( as the amount was huge) and was guilty for that but there was nothing I could do at that time. It was a very difficult time for me.

Note 2:- I have provided names of exclusive books which are some of the best books in stock market in my answers as well as enough information for a beginner as well as a trader to learn. It just takes unflinching patience and perseverance to learn and earn in stock markets. Remember, don't go for huge profits. Slow and steady profits is the key.