Open Your Zerodha Demat Account & Access Free Advisory From Capito Investments
Trading can be a serious business.
A lot of people are tempted to chose the path of full time trader over further studies or a job.
Here are 10 truths to know before taking the plunge to become a full time trader: 
1. 10000 hour rule:
• Put in your 10,000 hours of practice to become an expert in a given field, be it a doctor, engineer, lawyer, CA, CFA etc.
• A common rule of thumb, popularized by Malcom Gladwell in his book Outliers.
2. Passion for trading:
• Don't get influenced by watching reels on Instagram about a trader who trades on a hilltop or over the pool, or buys a private jet or throws a party in a yacht etc.
• Remember they are selling the dream.
• Know why you want to become a trader.
• Trading is not a "get rich quick" business.
• Chose to become a trader, only if you are passionate about it and are willing to follow the process with discipline
3. Consider going part time before deciding to trade full time:
• Side hustle is required to put your skills to test.
• Should be profitable consistently across all cycles while doing it part time for an absolute minimum of 12 months although 18-24 months is preferable.
4. Instrument and the system should be scalable:
• Low liquid counters may seem fine with small capital.
• But once you become a full time trader, the capital of your trading account will definitely go up, and low liquid counters wont be scalable.
5. Accumulate the requisite capital:
• Never trade on borrowed funds.
• Work for few years to generate the capital.
• If you are a student, convince your parents to lend them a small amount (which should not lead to a lifestyle change for the family in case you lose it all)
6. Safety Margin:
• Have enough cash in the bank to sustain your lifestyle for at least 12-18 months. This will give you more options when something does go wrong.
• Have a separate emergency fund for you or family member's illness (in case required).
7. Give yourself time:
• Just like other profession, trading too requires a commitment in terms of requisite hours to be put in every single day
• Remember there are no shortcuts for hardwork & perseverance
8. Set yourself up for failure:
• Fail quickly, which helps you to learn faster from your mistakes and rectify them.
• Failures shouldn't be viewed as a dead end, but as a door of opportunity that leads you to a new path.
9. Involve your family members:
• I personally had No support system who stood by my decision when I decided for trading in stock market.
• In fact motivate your family member on investing in stock market equity only.
10. Have an optimistic attitude:
• Words, actions and thoughts should be purely of positive connotations for ourselves and for others as that will keep you in higher energy vibrations
• One can manifest the abundance through repetitions of positive affirmations.
My All Time Golden Words For Every Young Youth Trader -
Don't doubt yourself, have faith.
Remember: You cannot fail if you commit to something!
Always a Trader needs peace of mind -
🙏
-REGARDS-
Kirthee Bane
