Nilesh - HR Manager to Full time trader
In addition to our weekly series of "Meet a Pro Trader", we have an inspiring story from Mumbai. As Mumbai is the Financial Capital of India, many expert stock traders have been originated from here and the city which never sleeps has created plenty of inspiring stories in finance.
Thus, here we got a story of struggle, fight and success - the journey that possesses the sweetness of success as well salt of failure - Nilesh Trivedi with us who is active in market from past so many years. He has a long span of career as HR Manager before becoming a full-time trader.
We will like to thank Nilesh for sharing his journey with us. We will handover to Nilesh for sharing his own journey.
Start of Journey
As like most of the people, I have also started as a long term investor. I got a profit from a few stocks but then I invested in stocks like R.Com, Suzlon, Glen Pharma and some other penny stocks which plunged a lot and never recovered. It gave me an important lesson that SL is a pre-requisite even for a long term investor.
SL is a pre-requisite even for a long term investor.
I saw a friend of mine who used to trade in futures and earned a decent amount from it. I was never fascinated with the profit but I was always keen on learning the techniques of the trades.
I was always keen on learning the techniques of the trades.
The path to profitability
I have referred to a lot of seasonal trader and understood that most of them have a maximum accuracy of 60 to 75%. So, I relied never too much on learning different strategies but just wanted to master in one strategy and keep applying it. I never liked the idea of paper trade and paid a huge price for that. I used to invest Rs. 10,000 every month and as I never traded the paper but directly applied my hands in live market, I lost the amount almost every month for 2 years. I lost around Rs. 2 lakhs in 2 years and then gradually the losses started reducing. It's been one year now since then and I am mostly in profit by the end of the month.
I never relied too much on learning different strategies but just wanted to master in one strategy and keep applying it.
Emotion the Game Changer
Emotion plays a very important part in trading and controlling emotion is always a key. I am not an avid reader so never referred to different books or courses. But, I feel that live trading is more important than any book. I also don't have a set mentor but I follow everyone who can teach me something about trading.
I feel that live trading is more important than any book.
The Trading Strategies of Sentiment
I follow the strategy of sentiment for the day. I try to identify the sentiment of the day early and trade accordingly for the remaining part of the day. I mostly trade in Bank Nifty and Crude oil Future and keep a set target for profit and loss. If I hit the loss for the day, I simply close the terminal and take a break. Most of the time, I go for 1:3 RR with a success rate of 70% which I feel is very decent as compared to seasoned traders.
If I hit the loss for the day, I simply close the terminal and take a break.
Future Plans
I just left my job to become a full-time trader. So, my first target is to earn money to match my salary as an HR professional. I only focus on Price Action as a day trader as it is very effective. I advise all new trader to invest time on learning as it reduces the chances of error in the live market.
There is no substitute of learning.
I also advise people to be in contact with active traders to share their ideas and get guidance. I am also open to guide many. Thanks Maine Bola Tha team for giving this opportunity to me.
You can contact me on my WhatsApp number +91 90049-46988.
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:
Chartered Accountant turned full-time Trader - An inspiring Trading Journey
An MBA Specialized in International Business Turned Full-Time Trader cum Investor
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