REVELATION OF A FRIEND WHO SPENT 20 YEARS IN STOCK TRADING

REVELATION OF A FRIEND WHO SPENT 20 YEARS IN STOCK TRADING

Dear Rajiv,

I am your ardent follower and keep reading through your mails and other useful stuff that you keep posting. I wish to have come across someone like you 20 years ago.

I must say that you are doing a wonderful job as you are trying to educate people who have little or no financial knowledge so that they may create passive wealth and retire happily.

Financial education is taught nowhere. No one shares with anyone how to earn money and be wealthy. Even the most educated people do not know concepts of wealth creation though they are always confident to be knowing enough. It's a fact. 

I like the way you put things which are more often educative than soliciting business. 

I don't know how much business are you collecting from your posts and messages because often people and even your good friends may be learning from you and investing through some other broker whom they know better than you.

Yet you seem to be uncaring and unperturbed and keep disseminating information to the welfare of your friends and people to whom your posts might be reaching AND that's what I like most about you.

I congratulate you and wish you all the best forever.

I am learning technical analysis since 1997..... applied it, traded a lot, earned, lost. Some realisations over last 20 years are:

Trading if learnt and practiced is the best way to get rich. Its the best way to get poor also. One or two dumb decisions, you are gone.

Money Management is the first chapter of successful trading as well as life. So please learn and try to excel it. It will only decide how good are you in trading. Without it profitable trading is not possible.

Trend is your friend. Meaningful profits can be earned only in trending stocks either up or down.

Ride your profits infinitely and cut your losses frequently and short. I am able to do the later but after 20 years I have not learnt to ride my profits. It is the most hardest task of my life yet.

Any system is pretty profitable, if you can control your emotions. I am also a failure in this chapter. Still trying.

Your system should be so simple and short that it could be written on the back of your visiting card.

Trading has made me rich at the cost of lot of sleepless nights, stress, frustrations, irritations, anger I am not able to find out whether it was worth it or not.

Trying to make up for the losses which can't be measured in money.

If I had the option of rewind, I would better invest through Mutual Funds and use my time constructively for some other creative work. I think had I been investing through SIP mode in various mutual funds and rebalancing my portfolio once a year I would have made substantial wealth may be not less than what I earned by active stock trading. 

Time spent can not come back but if someone gets some benefit from the above message, it will be worth the time that I spent here in writing this message to you.

I request you to circulate this message wide and far through your mail groups and social networking sites.