Another reason why people enter into stock trading is peer pressure. Many ask me if my ‘A’ or ‘B’ or ‘C’ friend has become a millionaire by trading on X, Y, and Z stocks. Why not me? He is less talented than me. If my friend can make money, then why not me?
Sometimes, You can. But how many people become millionaires in such a way? Data says 9 out of 10 traders lose money in futures and options. So, if you want to be the trader who will make money, nine others are losing. There are big institutional players like fund managers who are highly experienced, equipped with the latest technologies and information networks, and focused on trading throughout the day. How often can you beat them and make money? Chance is minuscule.
70% of traders leave trading within one year, and 90% of traders like Mr Rakesh leave within three years. Millions of new traders enter the market, and the cycle continues. It’s no different from a traditional Ponzi scheme.
14 thoughts on “Speed Thrills But Kills – Don’t Rush With Your Investments”
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Its a well written article to provide insight about trading. I agree with the point on a “cautionary approach” by limiting the percentage of money one should invest.
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Absolutely 💯 Birendra. Another important perspective in this subject of trading is that a max of every four trades out of 10 are likely to make some profits. So.. there is one fundamental question or criterion or goal an investor must.. absolutely must freeze first..his or her time horizon.. the next step is to have well defined stop loss and take profit levels and…. stick to them…!!
Yes, absolutely Sir. The strict stop loss and take profit criteria will help. For that, a definite behavioral change is needed. I sincerely hope that this article will reach those needy people who are trapped in the vicious cycle of share trading!!