Hey folks,
A lot of you have traded through every kind of market this community has seen, the calm stretches, the brutal ones, and the days nothing made sense. A real part of what makes MadeForTrade what it is comes from the lessons you have shared along the way.
So here is a simple one for the weekend, while the markets rest.
If you could hand a brand new trader just ONE piece of advice, the single thing you wish someone had told you before your first trade, what would it be? Keep it to one line if you can. The sharper, the better.
And if you have only just joined us, this thread is yours too. Think of the trader here whose posts you quietly read and learn from, tag them, and ask them directly. There is a good chance they will answer.
To get the ball rolling, I’m calling on a few of you who have been around the block.
@RajeshK @pavz @nitishbangera @srikanth_karamsetty @Subhajitpanja, if someone joined MFT today, what is the one thing you would tell them?
And @VijayNair @specter @amish @Pradumya @ShallyGupta, would love to hear yours too.
If your name isn’t here, that’s not an oversight, it just means the floor is open to everyone.
So, new and old, what is your one thing?
Thank you @RahulDeshpande for the shout out.
I am still new into the trading and investment arena. I am not too much into FnO and primarily focus on Equity. The advice I would like to give a new entrant in the market is trust the fundamentals and never trap yourself in FOMO. This is a base for me as well. The most boring process is what makes money. What others get and showcase will never benefit you or will impact you. Just focus on what you want out of the market i.e. 10%, 15%, 20% etc and stay satisfied with it. Never regret selling if it goes after you sold or be happy that it went down. Just be happy that you got what you aimed for and move on to the next thing.
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One can not learn trading by reading books, watching online tutorial and all that zazz.
Why I am saying this? it is like saying you have joined a online motor driving school to learn car driving.
You have to get in with real money, real stress.
If you want to learn trading then open a real trading account with some good reliable discount broker, my personal suggestion is dhan.
Start Trading with only one (01) stock from Nifty 50 Index Components – NSE:NIFTY Stocks
Trade with 01 quantity of that stock till you start winning 7 out of 10 times.
Then double this quantity every week.
If you have able to achieve this, then congratulation for the first step.
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My one piece of advice: Your first job as a trader is survival. Yes- Just Survive. Everything comes later
If there’s one thing I’m proud of, it’s that I’ve survived at least two bear markets and six or seven deep corrections. Those phases taught me that capital preservation matters more than chasing quick profits.
Most traders focus on making money. The ones who last focus on managing risk, controlling emotions, and staying in the game long enough for opportunities to come back.
“Markets will test your patience before they reward your conviction.”
You would have heard me saying many times in my videos and Live sessions- There will always be more opportunities tomorrow, than yesterday- So why FOMO?
Take care of your losses and the profits will take care of themselves.
There was a dialogue in the movie “Baby” when Akshay Kumar was going for a mission, and her wife said- Bass Marna Mat.
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reminds me of a quote from Jesse Livermore : “The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, or the person of inferior emotional quotient.”
The primary issue with New Traders is too much “Excitement”.
Start the Trading profession with paper money. Simulation. Make money on paper. Lose it on paper. Until the Game doesn’t excite you anymore.
The moment excitement is out, your Brain will evaluate Markets on Merit and you’ll then work on your Technical Skill.