Nowadays maxim job holders want to become a freelancer. And at the same time, he wants to enjoy his life too. And all these features can fulfill the stock market trading, people are thinking of full-time trading. But they have a lot of doubt about in it. By becoming full-time traders, can they make all their dreams come true ? can they also become a full-time trader? And if yes then what is the proses for to be a day trader ?
In this blog I will tell you whether How good will it be when you quit your job for trading. And how can you make money in trading similar to your salary? This blog is in three parts First, will it be right to leave your job for trading or not? Second, how do you achieve your goal in stock market trading? And what all tools do you need to do this?
Should I quit my job for stock market trading for living ?
If I have to answer this question, I will say it is not a good option to leave your job for the stock market. Because Monthly income is what makes you feel safe that giving you the confidence now to leave the job. Salary at the end of the month is good security. with this, you pay your bills. When you are unable to pay your bills, then it will be very difficult to make yourself calm. You can also be a victim of some kind of depression and anxiety. And this kind of behavior will not allow you to trade properly. And with this, there is only a chance of getting a big loss. Sometimes there are chances of entire capital loss.
Yes, I can give you a suggestion. You should trade in the stock market before you quit your job. Put some capital in it, and learn to trade with same. And earn how much you can. Once you have learned to make a profit in trade, then repeat the same way over and over again with a strategy. It is the baby steps that will help you to go ahead and run full speed in the stock market.
How do you achieve your goal in stock market trading?
If you don’t have a goal in stock market trading, then it is a little bit difficult to make money in it. There are goals that force you to stick with your plan. And the chances of achieving your goal getting increase. Achieving big goals at once will be a bit difficult. Once your goal is set, then you divide it into small parts. and divide it into whatever other segments are there. With this, it will be easy to achieve whatever target you have for the month. let understand it in two easy steps.
Step 1 :-
Think that you want an income of 50000 every month from the market. Now you should dived this target among several little parts. Like there are 20 trading sessions in a month. This means you have to make around 2500 in one trading day.
Step 2 :-
Now whatever target we have for in trading day, divided the day target into all trading segments like equity commodity and currency. The equity market is opening at 9.30 am and closing at 3.30 pm, here our target will make 1200 in a day in equity segment. The currency market which is opening at 9 is and closes at 5 pm, here our target will be 500 in a day. And another major segment is commodities, opening at 10 am and closing at midnight. Where you will get a big trading time to make money. Here your target will be 800 rupees a day. Right now you do not think that we will be able to achieve 2500 per day and the target of the month is 50000 will be fulfilled. Is not it ? but before that you should know how it would be. and before that you shod know do’s and don’ts of the stock market trading.
Do and Don’ts of Stock Market trading
Whatever target I have mentioned above, it is possible that all of them you will achieve. And you know what to do with the profit. What if you will make a loss in any of the above segments or all of those in a day? What you will do next? This is the situation where it is decided whether you will be able to become a good trader or not.
Most of the new trader takes a big trade after a loss-making day to recover that loss. This brings a lot of pressure on their strategy. And this increases the chances of losing big. let me give you an example :- If there is a loss has done in a restaurant one day, so does the owner of it make double food the next day to recover all his loss? This greatly increases the chances of losing. You have to stick with your plan. The loss will recover slowly. Trading is not a game, its a business. you should treat it like the way you would treat you business.
Learn how to trade before leaving the job, how profit is made, how to handle losses? then learn to make small profits. Learn to make 5 or 10 thousand in a month. After that, you repeat it over and over again every month. When you are able to make 30k to 40k in a month, Then you can plan to make trading to be your career. But when it comes to leaving your job, I would say that you should focus on our financial condition. What is the condition of your family? Etc. Do pay attention to all these things.
Tools you need to be a good trader :-
You have a trading account with a good broker, who will guide you in some unknown problem. After that, you need a good technical analysis tool. Where you will be able to implement all strategies or read the candle chart. Whatever you learn offline or online there should be options to implement it. And which is very important a trader need is a mentor. A good mentor is very important in the stock market.
When you be in trouble in the stock market during a trade or in another situation. At that very moment, you are not able to think about the present circumstance. Only then the experienced mentor can help you to get you out of this misery. www.investmentunblocked.com not only teaches you the trading but also guides you when you will be in trouble. Here they teach positional and intraday trading in the live market. Wich will help you to reach your dream of a full-time trader.