Sep 23 2020 0
The following is one of my success stories of day traders in India. The main character in this story is a personal friend of mine. We have been together in this market for 3 years now. His name is Aamir.
Success stories of day traders in india
Aamir initially became interested in the stock market at the age of 19. Aamir was in contact with entrepreneurs at this time. Aamir's father is passionate about business and wants to build a successful business. When the business began to grow, Aamir's father began investing some of his profits in the stock market. He uses a buy and hold strategy for the long term. This is a common strategy that most investors use when trading Bluechip stocks. This is also the time that aroused his curiosity about the stock market.
Over the past few years, his father's business was no longer favorable. He wanted more support for his father so he got a job at Starbucks. After coming home from work, Aamir will study stocks. Finally he opened a trading account with penny stocks. He also participates in a chart analysis group and mainly discusses breakout strategy. Gradually it also became his trading style. The only problem is that this strategy is ineffective. Every time Aamir trades a breakout, the stock price goes backwards, causing his first account to gradually evaporate.
Aamir returned to work but continued to think about trading regularly. Finally, he decided to trade again. He sold gifts and valuables in exchange for $2,000 in his trading account. And he knows that to be successful he needs to change his way of trading. He found that the best trading strategy he had used before was not feasible, and at this point he was intrigued by the way of shorting in the stock market at that time.
He began to notice the way other investors trade. He began to focus more on WHY they were short and from time to time he also asks for advice and answers from these investors. Gradually he noticed that the successful short sellers were mostly targeting stocks with no stable and growing business. After studying short selling tactics for a while, Aamir started making his first trade.
Aamir's first short sale was 2,000 VGGL shares. He shortened 2000 shares, and made $10,000 in profit. He was motivated by this drive to make himself short more. You don't have any specific trading rules. And he learned again that in order to trade well, he first needs to have his own trading principles that help him to be consistent with his decisions against trading opportunities.
Aamir began to focus on a few specific stocks and grasped how the business is evaluated. He started to build his own criteria. And just like that, these criteria gradually shaped his trading strategy at the right time. It is this that helps Aamir begin to get the fruits of his trading. He learned that being patient, disciplined and selective is the key to maximizing profits. Until now, he still maintains the same trading style.
Key points in Aamir's story
- Aamir became interested in trading after seeing his father make money on the stock market.
- The first trading strategy that Aamir used for trading was buy when breakout.
- Aamir started over with a $2000 account and focused on short selling strategies
- Certain transactional principles and criteria are required if consistency in a transaction is to be formed.
- Patience, discipline and selection are the keys to maximizing profits.
- Focus on a particular market or a few products or stocks, and build strategies around that.
- Don't focus on day-to-day trading.
- It is possible to raise capital or increase trading volume if you achieve trading consistency.
That’s one of my success stories of day traders in India. I hope that you have learned something for yourself.