An MBA Specialized in International Business Turned Full Time Trader cum Investor

We have with us Mr Mayur Sharma, a young and energetic MBA specialized in International Business, turned full-time trader. His father has business of transportation services to various type of industries from Gujarat to all over India. Passionate about share market, Mayur also gives helping hands in his family business SRS Transways. 

Finally, he started his journey as a trader. He has hunger for being profitable. He says ‘Be escapist from losses but hungry for profits.’ He went through many share market courses Price Action to Data Analysis and made his own strategy with an understanding of share market on which he trusts. He has many things to share with us. 

Be escapist from losses but hungry for profits.

I would love to stop here so we can read his trading journey in his own words. Thank You very much, Mayur for being with us. Your Trading journey will surely inspire many.

And Journey begins

My father is hardcore investor since 2006-07. He entered the market the year just before the slow down of 2008. The slow down has done much damage then, and obviously we also got hit during 2008. Luckily, I and my father survived and continued our investment that grown good and made us profitable now.

Trading Attracts

It was 2018 when I saw PC Jewellers, DHFL, Indiabulls housing finance and Yesbank are giving crazy moves in a single day. I went greedy by witnessing big moves in a day and argued my father investing is a bad idea compare to trading.

Trading gives 4-8% return in a day sometimes and just imagine what we can compound out of it by the end of the year. Father replied yes, trading is very easy in imagination but hard nut to crack to make it possible.

 Trading is very easy in imagination but hard nut to crack to make it possible.

Account Wiped Up

Being overconfident I said I will prove my points. So I shifted to trading without prior knowledge of Technical Analysis, Money and Risk Management as well as the position sizing. Results, I blew up my first trading account very fast.

Rested and Back with Bang

I took a complete break for a few months and got engaged with the family business. Again attraction come towards trading. This time I attracted with the wild moves in Sun Pharma due to some news or rumours. Started intraday trading again. But this time I thought to come with some knowledge about technical analysis and trading mindset.

Keep Trying

As a novice, I tried various methods to become profitable. I tried

1. Candlesticks based trading

2. Indicator based trading

3. News based trading

4. Demand and Supply Zone trading

5. Option based trading

It was a result of the frustration that I was jumping one method to another without understanding the problem inside me. At last, I realized, I was lacking the trading psychology that has incorporated risk and money management. I started working on a trading mindset.

Emotion and Trade Set-Ups

Since I had now my own setup which is designed by myself as per my personality in other words I can say as per my individual psychology with experience gathered in the market.

So, now I have clear rules of entry and exit on target or at stop-loss without any if and but. It simply become easier to cope up with emotions during live market.

I always think opposite like I try to find out reasons of not taking trades in my setup generated call and I know everyone in trading is trying to find out reasons for trade but I do reverse as I believe, in less hunting, we do the better hunting.

Learn: Trading Journey of a CA -Phani Pavan

A trader should never look at MTM while trading but should focus on the chart for any kind of early indication for setup failure that might happen and that should be an unbiased decision only. It should not include your fear & greed and this all comes with experience and confidence on own setup with patience and disciplined mindset.

I try to find out reasons of not taking trades.

Course Taken

I have taken many courses. These are

1. Price Action by Surjeet Kakkar 

2. Price action AL Brooks and Tick by Tick Intraday from Alfonso Espajero

3. Option Trading by Anuraag Saboo - Traders Cockpit

4. Derivative Data by Vivek Bajaj.

I still do courses because I believe learning is a never-ending process, the day You stop learning is the day you become uneducated too. 

The final strategy 

I have clear bold setup in written form like I do data analysis in excel sheets that give me momentum stocks with delivery data and futures data and all other important information of market that too in simplified. Apart from this, I do use some EMA and demand/supply zones with trend lines and Fibonacci plot + RSI on the chart with multi time frame analysis and confirm it with option chain at last for trading. 

Trading Psychology and Mindset

I believe every trader should do their SWOT analysis and should understand their trading mindset and psychology. Being a trader is not only just formulating good strategies and performing extensive analysis, but also about developing a winning mindset.

What separates a winning trader from a losing one? It’s not that winning traders formulate better trading strategies and they are smarter than the average trader. It’s not that winning traders do better market analysis. It is a trading mindset that creates the winner.

One should understand their risk tolerance, capability to change quickly with changing market conditions and discipline. Never be excessive excited over winning trades.

It is trading mindset that creates winner.

Stop Loss is God

Everyone says that no one had ever seen god in his/her life. But I had seen from my eyes as a trader, and the god is STOP LOSS. Yes, SL is god because It saves me from a big loss and ensure that we lose small if we failed.

There is saying “Bhav Bhagavan he” but I would say “SL Bhagavan he” for a day trader. You all must be agreed that you came across many trades that got SL and saved you from losing a big chunk of money.

Secondly, there is only 100% sure shot thing that works in the market is that nothing works 100%. So, put your entire focus on trading psychology and understand yourself first. Price action traders should learn PPA i.e. Psychology based price action.

There is only 100% sure shot thing that works in market is that nothing works 100%.

Be Greedy for more Opportunity

At last, I would say never close your trading window before market closes or if your daily profit target matched. Trading is your business, right? Then tell me one thing, have you ever seen Dominos/McDonald's close their restaurant in mid-day or evening just because they got enough customers so early in the morning for that day?

If you ever have noticed a petrol pump that stops selling petrol in anytime during the day just because they already sold a sufficient amount of petrol for that day. Ever seen Mall/Theater closed in mid-day? No, then why you are thinking to close your terminal so early. Be greedy for more opportunity.

Closing your terminal too early is a sign of weak mentality that shows you are not so confident and you have fear of losing if yes then focus on your trading psychology more. Think like a businessman that how and when and at what level I want to take my trading business because it's same as other businesses we see in the world.

If you like this article, don’t forget to bless it with your tweet or share on your favourite social media.  Further, you might like to read Following Trading Journey:

Meet a Pro Trader - Kartikeya Khantwal

Chartered Accountant turned full-time Trader - An inspiring Trading Journey

Any questions hovering in your mind? Comment box is for you. Post your questions or suggestions there, we will reach to you sure. 

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