Indian economy is growing rapidly. The stock market on a boom. However, we have always ignored this high potential growing sector. India is a place where everyone will advise you. Because it is free. Your parents will advise you and might even force you to do what they want you to do. As far as career is concerned. That too, in India, only two things come in mind typically for everyone. Yes. You are right. An engineer or a doctor. Engineering seats are much easier to get than doctor seats. In our country, you can see engineers almost everywhere. Now, the reason for the above thinking. People(parents and adults around you) eventually come to know of many people getting a job (usually an IT) and earning what they consider as a good salary of around 35k. Now this image of a successful person is burned into everyone’s minds.
If someone wants to take photography/cricket/journalist/radio jockey, they are considered having a stupid and foolish mentality. Often parents and others come up with this line “What can you earn by clicking photos? You won’t be able to support your family!”. Yes. It might be hard and competitive to earn money in alternative careers. And it is easy to earn in an IT job because you are mostly recruited to do dog work(that is, you do not require any talent/skills, they will teach you something, and you have to do the same thing again and again).
Parents expect us to follow this crowd mentality that is “do whatever others are doing! because others are successful”. There exists a fear in the minds of people regarding alternative careers. Because they don’t know many people who are successful in earning and supporting their family by just being a photographer/journalist/sports person.
But, the thing is if you have the passion towards a profession and you take it up, it will result in the highest expression of your talents. C’mon we all know that we are at our best when we do the things we like!. This is the reason why you are able to get a high score on the games you like a lot!. Simple enough.
Becoming an investor or a stock market trader is almost considered as a taboo. They will come up with the words “Have you lost your mind?”. This mentality is because they have the image that most people don’t become successful by being an investor/trader. They think that most people often lose all their money and go broke.
In this case, what they think is partially true. Because, of all market participants, 70-90% of the traders lose money. Only 10% make all the money. Being successful by investing/trading is analogous to becoming a successful athlete. If you learn, train and work hard and smart, you will eventually succeed. And only the top 10% of athletes are famous. Similarly, you have to work your way to this top 10% creamy layer of investors/traders.
I wanted to become a stock market trader. When I told my parents, they looked at me as if I was possessed. But I had a great passion for it. I was not ready to give it up for anyone or anything. Yes. Failure will be faced ‘n’ number of times. But you have to simply keep going till you reach it.
“Whether you think you can or think you can’t, you are right.” -Henry Ford
“Those who follow the crowd will get no further than the crowd. Those make their own path are likely to find themselves in places where no man has ever been” -Albert Einstein
“Those crazy people who think they can change the world, are the ones who really do. Artistic geniuses.” -Steve Jobs
In case, you are wondering,
I am a stock market day-trader and trading for 4 years.
I think I have answered the “why” aspect of the question. To know “how” to go about becoming a good trader Or how to invest keep visiting the site.