I started watching charts for hours and analyse whether they create a pattern. I started writing down 20 scripts a day. Their open,high low,close and change in a particular day. I wrote these each day for months and tried to analyse what would happens to a script whose CMP is increasing for the past two days. I gathered that it will show correction the next day. I had decided to master Intraday trading by then. One of my favorite script for such type was Ultra-tech cement. It went a massive 100 points in a particular day within 15 days and on the next day plummeted by at least more than 40 points. I started making profits from these beautiful opportunities I found.
There were times when I was in 2k profits but the positions were still open and in greed of more, I have suffered losses straight to -4k or even more which led me to literally bang my head on the wall and tear a pillow cover. I became frothing furious by this foolish act of mine. So slowly I learned to book small profits at each step.
I learnt that trading daily is the biggest mistake one can make. There is always a correct time to enter markets and open positions. You just have to find the right opportunity to trade. Trade not more than 10–15 minutes. Intraday is not about sitting in front of laptop the whole day watching charts. Also,There must always be a reason to trade. Never trade without a reason. I never opened a position whenever I was confused or I was not sure about the script. I had controlled my uncontrollable desire to open a position many-a-times.
I learnt how the market works, what to do what not to do, what is an IPO: steps of an IPO, what is artificial demand? how is it created, how to trade a breakout, how to trade various patterns like triangle, cup and handle, bat, head and shoulders, flag, wedge, what happens when a swing high/swing low is formed, what is a whipsaw, what are the various patterns that are formed, how to use filters to our benefit, how to put a stop loss,how to set targets, how to set a trailing stop loss and most important which script to select, when to enter a trade and when to square off positions to book maximum profits etc.
AND devised my own strategies to trade. I strongly believe that each and every trader has a different strategy to trade and he should devise his own strategy by KNOWLEDGE,EXPERIENCE AND DISCIPLINE.
Slowly and steadily after that, I covered my losses and started teaching my friends who always had been very curious to know how it all works.
Teaching is a profession that has always intrigued me. I started my own whatsapp group and started posting my daily profits on that group. Firstly, there was severe criticism but after a couple of months, they believed me.
There was huge demand to it and a lot of people wanted to learn. It was not possible for me to handle so many people still I am trying my best to help each and everyone. Slowly, I had to stop trading due to so many people messaging me and asking doubts daily. Moreover, as I am not a full time trader, I have many daily chores to do.
I still receive more than 20 unknown messages everyday some asking weird doubts, many asking me the right time to enter and exit a script and much more. But I believe its normal so I take it lightly. Due to all this, I started my paid course and paid calls services for beginners and traders resp. as it was not possible for me to teach everyone for free. There was consistent demand to it and I managed all of them. I still do.
Then I started two more groups on Whats app in which many people share their knowledge and experiences. I started my own website,my firm and this blog to connect more with people like you and help with whatever knowledge I can share.
The indelible scar of losses you had incurred becomes your motivating force to move on and on and on.
I truly believe that anything in this world is achievable if you have a willing heart. If Warren Buffet can do it, so can we.It just takes unflinching patience and perseverance to learn and earn in stock markets. Remember, don't go for huge profits. Slow and steady profits is the key.
GOOD LUCK!
BY ABHIRAM DAPKE
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