The Start...

I am a newbie trader who is about to try my luck in Trading.

What they said:

Trading is a risky business, try investing long term you may succeed.

What background do I have:

I'm a science student with no background of finances at all.

Why I want to trade:

Obviously, to make money faster. Every one would advise me concentrate on studies, you ll make lot more money in course of your career. Yeah sure I may make money but will never make that fast so I can enjoy that wealth while I stand on my feet.

What do I expect from trading:

I have a capital of 30k INR which I want to turn into 3 crore in 15 years of time and retire.

(p.s: I feel at rate of 2 percent interest per annum, 3 crore will fetch 50000 which is more than enough to lead a middle class life)

Sorry for above statement, but the statement is just not impossible but illogical....

I wish that can happen but coming to reality, I wanted to make Target of few gadgets and items I want to buy out of my trade profit.

Hope I'll be able to buy atleast one gadget before I loose my capital. ( It ll be a souvenir I think, may be I'll add 'the lost trader' tag to my profile there after)

Do I feel I can do it?

I know my chances are slim but my greed tells me to try my luck. I'm not able to control my greed may be I'll stop incase I loose my total capital.

Did do any homework?

Yes like any other person interested in stock market I read many articles ( which convinced me not to trade but not able to convince my greed) and made a set of rules to Trade.

What are the rules?

1. Set target: +2% of trade

(Setting target below 1% won't have any gains due to brokerage and taxes)

2. Set stoploss: -10% of trade

(Atleast I have 10 trading days of trail to convince my greed, so that I may not loose my capital in one day)

3. Not to trade more than 2 times in a day if profit, not more than 1 loss trade per day

( I feel will be able to control my emotion for next trade in both scenarios)

4. Always trade between 9.30 and 12.30

(No personal reason, just read this point many times and made an impression in my mind)

What rules I may add?

1. Never trade with entire capital.

( As off now my capital is too small not use entirely and make profit)

2. Will add if I'm still in business 🤪

Why am I making this blog?

No one likes to be failure in front of others, so I think I may give my best and go cautiously if I make my intentions public. ( Actually worked in few times before😉)