Chartered Accountant turned full time Trader - An inspiring Trading Journey
We have with us a young and inspiring trader, Phani Pavan, who is here to share his trading journey - his learning, his ups and downs and motivation in share market. Share market is exciting however risky too. You need to have a mindset like iron to run on the path of trading.
Pavan straightforwardly mentions that he has a mentor who leads in his journey. His mentor is one of our pro traders. Apart from that, he has learned and still learning from mistakes that he has done in the share market.
After all share market is supreme. Now, I am leaving you with Pavan’s words that will definitely motivate and inspire to sail the share market. Thank You Pavan for being with us.
The trader and the businessman
My name is Phani Pavan Kumar. I am a Chartered Accountant by profession. Apart from being a full-time trader, I run a company called Environ Eco Management, which works in the areas of Waste Management, Renewable energy and sustainable living.
The moment of inspiration
Due to my background in finance, I always had friends who are very active in the stock market. To be honest, I never ever thought of a career in the stock market even in the wildest of my dreams.
The journey started with a Whatsapp status of one of my close friends. He started trading in June 2018 and I got inspired with the charts and return data posted by him. After my exam, I approached him to teach me the skills required for trading with the desire to learn something new.
I committed a lot of mistakes initially and lost around Rs. 70,000 in the first few months of trading. I took a break after that to focus on study. In my second inning, I was more focused on learning and not on making quick money.
I was more focused on learning and not on making quick money.
The unheard points of his trading story.
It is surely about how I convinced my dad to take up trading as my profession. After I completed my studies in August, 2019, I told him that I want to take up trading as my profession and would also like to start a company of my own, which is related to environment conservation. As usual, he was not very happy with the idea and have a lot of doubts about my plans. I was finally able to convince him with my zeal for learning. He always had faith in me and I should thank him to give me a chance to pursue this.
I convinced my dad to take up trading as my profession.
Mentors and Books he refers for trading
Kartikeya Khantwal is my mentor. What I love about him is his simple yet effective approach to trading. He made it seem so simple that, I never viewed trading as a difficult skill to acquire contrary to the common perception.
Being an entrepreneur himself, he gave me a very valuable advice to practice trading on the mobile as it offers very much flexibility though it might take a bit of time to get used to owing to the smaller screen. Since I have a business too, this helps me a lot today as I don’t have the restrictions of sticking to a single place with a complex setup. All I need is a mobile phone and internet connection. This offers tons of flexibility and allows me to trade from whichever place I am.
Apart from the material shared by my mentor Kartikeya during my course, the other materials/courses that had a profound impact on my trading are:
“Price Action Trading Institute” by Rayner Teo and “Pivot boss” book by Franklin Ochoa. Both the books are very easy to understand and the concept has helped me to become an effective trader.
Control emotion and become a profitable trader
Emotions could your biggest enemy in trading, if you don’t practice the art of channelling them in the right way. In fact, I would say “Trading is all about psychology and handling your emotions”. You might have the best of the setups and techniques, but you still can’t become successful until you learn to master the psychology part.
Initially, even I experienced a lot of common emotional problems like FOMO (Fear of missing out), anxiety to trade every movement on chart etc., over a while I realized that to become successful, one has to practice the art of seeing the charts without any bias and you don’t have to trade every single move.
Emotions could your biggest enemy in trading, if you don’t practice the art of channeling them in the right way.
For a certain period, I practised trading only the best setups that I find and didn’t take a trade on days if I don’t find any. This helped me to calm down and develop a better attitude towards trading which is the most essential element of becoming a professional trader. I still keep making mistakes, but that’s human. We need to constantly work on improving ourselves. I believe that, the day we become complacent with our skills, is be the day we stop improving.
I believe that, the day we become complacent with our skills, is be day we stop improving.
Trading Course and Trading Strategy
Mentorship Program by OS Education is the only course that I attended till date. It is taught by Kartikeya Khantwal. He’s a CFA by profession and an extraordinary teacher. Initially, I traded with very little capital as per the advice of my mentor and learnt the nuances of trading. It’s very important to make sure your cost of learning is less to keep you going. I gradually increased my capital and today, after 5 months, I am a much better trader. I can generate profits with a decent amount of consistency. There’s a lot more to learn and a long way to go. What helped me during this journey is the vast amount of time that I committed to learning a variety of concepts and incorporating them in my setup.
I don’t have a fixed strategy as such. Being a price action trader, I read the price action on the charts and see the opportunity it presents on a particular day and with the help of the confirmation from the indicators that I use, I jump into the trade. I keep experimenting with new indicators and if I find it effective, I add it to my chart setup. Most recently, I learnt about Fibonacci replacements and found them to be very effective. There’s no exaggeration in saying that they took my game to the next level. There’s a lot more to learn about them though.
Goal and message to fellow traders.
This is one of the very few or the only profession which allows us to make money from wherever we are if we are connected to the internet. I love this flexibility. I love to travel and explore new places and opportunities in the fields of agriculture and sustainable living. So, this skill offers me tremendous flexibility in making money without having to be restricted to a particular place.
My goal as a trader is simple. To generate consistent as well as higher returns over my capital than what’s offered in the market. I want to constantly improve my game to an extent where it becomes as natural and effortless as performing our daily chores like brushing or taking a shower. We don’t put additional efforts in performing them. I want to take my trading to that level. So that, money can never be a constraint to work in other areas that I aim to transform like organic farming, renewable energy etc.
I strongly advise the beginners not to believe in the negativity that surrounds trading. If you want to become a successful trader, invest your valuable time into learning. There’s a lot of content available today. Choose the best ones and invest your time on them. If you feel you need guidance, join a public forum on social media apps like Telegram or take the guidance of a good mentor. Keep learning a new concept and keep it with little investment. Nothing teaches you more than your experiences in the live market. Keep a record of them and improve constantly.
Cheers and Best of Luck !!
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:
An MBA Specialized in International Business Turned Full-Time Trader cum Investor
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