An Indian citizen is prone to all kind of risk and when he happens to be a part of the 20 million DEMAT account holder’s community he got to have a strong heart and lots of patience. Being an MBA student and fascinated by the money market I opened a DEMAT account this March with a fantasy of gaining returns unlike anyone with small saving from my work life (I used to have). The next thing I know, I invested ***k on the 1st day I got my login details. I bought stocks from all kind of sectors some of which are still sucking my returns.
Being new to the fast moving, heart throbbing numbers on the ICICI trade terminal, the stocks buying and selling and volumes of them changing hand every second feels just too fascinating and kept me glued to my laptop from 0915 in the morning to 0330 in the afternoon unless the market closes keeping me either preparing for a party or dangling with a ray of hope to get revenge from today’s market gainers some other day. Based on your risk aversion you buy stock of all kind of companies and hope to get returns on all of them but the fact remains that all you can do is be happy of selling stocks which give some returns and for others, tell yourself that some stocks are worth keeping for a long run (indubitably self-fooling never ends).
The thing about Indian stock market is that it’s completely vulnerable to any economy breakdown, country getting bankrupt, Greece referendum results, China halting its trade market and sometimes just some random news of quantitative easing by US is enough to turn your good looking portfolio into a bunch of stocks dreaming to go green. As a trader you think that you got all the news to make the right decision, the annual reports will help you make the right decisions, expert opinions on news channels like ‘CNBC’ or ‘NDTV Profit’ or ‘ET Now’ will tell you the right intraday pointers but I guess everyone learns the hard way that all it takes is for some global news or some company going for a merger or some trader with deep pockets trying to play around to help a stock go up or down at any point of time.
Now, what I have experienced in the last couple of my trading months is not all bad as it might seem from the shit above, trading actually is the most thrilling thing you can experience. I made money and exchanged it for some luxuries and sometime reinvested it to stocks that gave me only bad memories but I guess the thing is that if you think that expectations are premeditated resentments then you really aren’t built to be a trader because if you are planning to make some earnings just sitting on your laptop for the work done by others, you got to meet reality sometimes. The funny fact remains about stock market that every time a person buys, another sells, and both think they are astute.
So ‘keep trading, keep losing’ for your losses might be mine returns 😀 ………….