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- You wake up in the morning all excited about the money you are going to make via day-trading.
- You get in front of your system sharp at .
- You make a trade of Rs. 20,000 with a 5X exposure at .
- Your security goes up by 5% at and suddenly you richer by Rs. 1000!!!
- This continues for the 250 odd yearly trading days, and you happily accumulate close to Rs. 2.5 lakhs.
- Lastly, the best part is that you are now earning more than 2.3 times the per capita GDP of our country and that too by devoting less than 150 odd hours in the entire year.
It might be fun to day-trade just like gambling, but it is nothing less than it, infact worse. Like you learn nothing when you gamble, you literally learn nothing from intraday trading also. But unlike gambling, you pay hefty fees irrespective of how much money you make or lose.
You are a retail trader with no great resources as your disposal. Thus, you are bound to get to a point where you ‘hope’ you don’t get ruined and this is where you should realize that you have something wrong! Hoping is not a bad thing, but if it’s the only thing you rely on, means you haven’t considered all the possible outcomes. Remember, hoping for good things to happen is the most powerful as well as the most forgotten prayer.
Some traders take too many risks and go bankrupt and some people are just too cautious. Both do not fit the day-trading job! Some people are so afraid of a risk that they end up booking small profits which are all wiped out by one single loss.
It pulls everything out of your life. One bad trade and you don’t sleep well, you don’t eat well and you don’t feel well! This goes on and on and you suddenly become depressed with your life. The only question here is, WHY?
When you trade intraday and it doesn’t work out, even when your heart wants it to, you simply start averaging. You think, just because you’ve already put in your time, energy and money, you should stick to the plan no matter what; and eventually end up losing more.
Another big threat to aspiring day-traders is from the community of fraud tipsters. Tips from these fake research companies who sometimes don’t even have real analysts can lead to more and more losses, but, there’s more to it. You try to pin that blame on these tip providers instead of analyzing the causes for your loss. Yes, you will feel victimized here, but it won’t stop your losses from continuing!
Suppose you give in everything for day-trading, you do all the research, you follow all the protocols and you still don’t get lucky! What will you do next? At one point, you will have to quit, and when you do so, all the time and effort you’ve put in will count for nothing. In fact:
- 40% of day traders quit within a month
- 87% of day traders quit
- 93% of day traders quit
Returns that you missed because you never even knew of these opportunities.
But now is the time to change that!
From past few years, we at Market Index Analyst have been researching and recommending high-potential multibagger stocks to our subscribers.