Sucker Who Trade 102

 

Sucker Who Trade 102:


Personal note - Sometimes I feel some stocks are like Those bad partners with whom you don't want to be in a relationship but somehow end up with them any given day. I have evil stocks like those in my portfolio. I bought them at reasonable price and then they crash. Then I sell those stocks. After my sell order, the stock becomes rocket. Again I buy those fuckers at a high price and they crash. The cycle keeps on going on like this and I just wonder wtf this fucker is doing in my portfolio....eating time value of money.

Pure self-inflicted misery and pain periodically. 

Main content ->

After getting overwhelmed by credit card debts I realized one thing. You can never outrun credit cards and loans. That's how the system works. You can never outrun this stuff. Our parents were lucky in this aspect, they got property at a low price, stocks at low prices, gold at a low price and whatever at a low price with adequate wages of course. We millennials cant even get mutual funds navs at low prices. Plus 24% credit card debt rate. 

Well, the answer to this question is simple, have a second income which can support your credit card spending habits. Don't kill your habits but be more skilled in earning money. I thought of this and I started out with a target that I will diverge all my trading income to credit card debts or to the sinking funds I am creating for my lifestyle loans. 

The idea is simple, earn a limited second income daily or weekly, or in a swing trade and diverge that income to lifestyle spending. Plus have a good mainstream career ongoing.  Also, I diversified. I have an active portfolio of stocks, futures and bonds. I have an active mutual fund portfolio and whatever. I just take out the part money from my mutual fund returns annually and put that part in my sinking fund. I know there are people who say to invest long-term. I have put money into that but not a huge amount. The reason is some things value more today than tomorrow. The money for the long term will be used by the next generation practically. So I just put that part of the money aside periodically. Also, long-term investing in an era of quantitative trading. It doesn't make sense to me but compounding does.

Apart from that I have an active portfolio for lifestyle spend which I do keep on adding bit by bit every now and then. I take loans after my sinking fund numbers start projecting confidence and chill. From my journey story, I learned Hustle is Culture for us millennials. Be damn good at something. Know how to make money from that skill. Upscale it bit by bit along with your mainstream career. For me that hustle was trading. Trading is one of the worse ways to make money. You need passion to make money in trading(yeah, that sounds sad). Plus discipline, dedication, temperament and a chill attitude towards life. 

Along with a deep understanding of how the derivatives world work. A deep understanding of how derivatives work doesn't come just from reading about derivatives or watching some hard-to-understand video of options Greeks on youtube. It is a process which comes from repetitive wins and losses over the years. An emotional disengagement from the numbers on the screen and money. 

I started working early in life. Though I was not able to complete my fancy education goals on time it does give me one head start. I discovered what I want to do and kept on betting my salary on this stuff. That's how I made my systems and side hustle starting at age 21. With each passing day, I gained confidence and experience. 

My biggest learning all these years trading is "never get a money high". Get a good cigar with your friends and get prepared for the next trade. Also, don't tell anyone what's going on with your trading. Because 90% of the time it's fucked up and you don't want judgements to be passed on which will distract you from the main goal of learning the process in the initial years. Just imagine had I told my friends and family at age 24 that I am losing my entire salary minus rent & egg rice money doing trading. I wouldn't have reached the goal I reached today. 

I just took everything in and came to work the next day. I didn't tell anyone what I am doing till I grew confident in my systems. I did ask for money from my parents at times on the pretext of someone robbing me at train stations or my wallet getting stolen. I survived on egg proteins for straight days so that I can learn how to lose money trading. But all of it is worth it if I see it from today's point of view.

Popular posts from this blog

Swing Trading mindset

Image
It started with luck before it became a passion personal project. Before coming to NZ, I put 5 lakhs rupees in my mum’s demat account to trade Indian markets. It was never my idea to trade Indian markets full-time or even part-time. But I somehow lost 10% of my mum’s capital in February and March. The idea of losing Mum's money is disappointing. I just didn’t know how to cope with that. I have faced a lot of losses before, so I am kind of numb and unreactive when my portfolio is at a loss. I don’t do anything when my portfolio is tossed into a loss. I took 1% of the remaining capital and started derivatives trading from the capital. The reason I started with derivatives trading was because I knew this is how I will make money quickly. I end up losing more. And then I decided to quit everything and wait for a clear-cut market direction. In March markets were directionless and making money buying options was difficult or not possible for a retail trader. So, the best decision was to ...
Read more

SQL 101 : CH 1 Notes : Teach yourself SQL

These notes should be more than enough to revise and learn stuff. No need to go to book after it. Examples are also included for better revision and understanding of concepts. SQL session commands : 1)     CONNECT - Command is used to connect to a database. This command can either invoke a connection or change the connection to the database. Ex. connected as USER1 and gave command of USER2, the command will terminate the previous user connection and establish the connection for USER2.     Syntax: CONNECT user@database.       link:  Official documentation for CONNECT command     Takeaway -> Initializing a database can be tricky and not as simple as opening a Jupyter book. Be thorough with the process. All SQL servers are password-protected. 2)     DISCONNECT AND EXIT ->   Use to disconnect a user from a database.           Exit: While giving the disconnect command, the soft...
Read more

6th Jan, 2025 Nifty trade day

Image
 An analysis of what went wrong. It's been a long time since I lost in trading, and felt an urge to sit down and document what went wrong. The loss was not that big, but what bugged me was that I was right first and wrong afterwards. When I go wrong in trading, I usually don't bother because it is part of the game. But yesterday, I lost when I should not. I initially took a put and sold it off as I thought I was losing money, I can live with that but not the blunders which were done afterwards. Nifty daily chart It's a downtrend, more importantly, Nifty is on time correction. Nifty 5 min chart It was a clear-cut down move, I failed to read the trend and let my emotions creep in due to a wrong trade which *ucked up everything(sorry for the language but can't find a better word to describe). Nifty 1 min chart It's pure noise. But it does tell short-term trends if u keep on staring in the window which at times is not helpful. The question is when charts in all timefram...
Read more