Raj is a typical boy next door, having completed his education, worked for a corporate, left corporate to work on start-ups which started off well but ended in failure. Raj joined the corporate world again.
His familiarity with the stock market was limited to a few colleagues who had positive experiences, which intrigued his fascination for trading. It was only when a friend showed him the power of technical analysis and charts. That he started looking at stock markets like an answer to make money. Based on his friend’s suggestion he had read a few books on technical analysis, which kept him excited about markets until reality struck him. Losses were the only thing that was consistent. He then took an online webinar as well which laid out a clear strategy and map for risk management. He started trading again with a newfound confidence from the webinar, initially, there were some profits, then came a few losses, until losses were consistent. All the negative emotions started building up making him look back – all the trades he made were bad trades, most of it was results of emotional impulses. He later joined a few chat groups for traders but nothing worked. Finally, he penned down his thoughts on losses in a chat. The message was emotional and many people responded with motivation but one message stood out.
It was from Anand, a fellow trader from the group.
In his messages Anand clearly explained what Raj was missing. Raj got in touch with Anand. Based on their conversations, Raj reached on the following conclusions:
- Raj was trading thoughts instead of interpreting charts.
- Fear of missing out (FOMO) was strong.
- Raj hardly waited for a setup to form, held loss-making trades, expected every trade to trend, irrespective of what the market structure was.
From then on, Anand became Raj’s trading mentor and helped him become the successful trader that he is today.
So here are few truths about trading that every trader should know:
- The ultimate truth about the Markets – they are brutal and are designed to take money out of your pocket.
- Forget making money in the market when you start, instead work on not losing.
- Trade types
a. Good Trades & Profit/Loss
b. Bad Trades & Profit/Loss
Stay disciplined and trades will fall in #a
If you make money with #b, you will give it back.
If you lose money with #b, you will lose your mindset as well.
When trading improved, Raj asked Anand, “Why did you mentor me as you don’t do mentoring or training like others.” To which he replied, “I was in your shoes during the early days of my trading career and I know how tough going through that phase can be.”
The story of Raj is actually about me, Rikk and Anand is my mentor.
I have come a long way as a trader, all thanks to the proper guidance and my will to keep persevering. And I want to share my valuable knowledge and expertise so that other passionate traders can benefit too, just as I did. Having first-hand experience of how difficult trading can be without the right education and mentoring, through this site we plan to guide people interested to learn our strategy and trade setups, the way we use it. Beginner intermediate or advanced, everyone can make use of information.