Debut of a New Trader on D-Street

Debut of a Novice Trader on D-Street. With a racing heart, sweaty palms, and nerves, he calls his broker to buy a few stocks. He believes he understands the potential for a price rise and the hidden energy in those stocks. He thinks this energy will be unleashed when his order is placed. And there lies his chance to make some quick profits, or even millions.

As a line from a Bollywood film says, “The heart has hopes, the eyes have dreams, and there is money in the bank, so what’s holding you back?”

His trusted source gave him an “inside tip” the night before. The loud, often arrogant, all-knowing “market insider” he knows has been sending him new trading ideas every few minutes. His WhatsApp account is always buzzing. His spare moments and after-dinner chats focus on expected market trends in the coming days. So much information surrounds him constantly: new ideas, tips, and the extremely popular “sure shots.”

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Facing Facts:

Should all these traders be making millions, enough to support themselves and fulfill their dreams? Right? Hold on, it isn’t that easy. It takes a lot more than tips and news to succeed in one of the toughest professions in the world. This book addresses a very serious topic—serious because it involves your hard-earned money. Markets can wipe out years of earnings in just minutes. The market is full of advisers, books, tools, plenty of software, and numerous trading systems. Yet, the success rate is worryingly low. What do you think is missing? Why is it so hard to understand that profit is the difference between the buying price and the selling price? Your selling price should be higher than your buying price to make money. Is it so hard to grasp that you will win only if you make the right moves and know when to stay away from the market? Or that you have to buy low and sell high? After all, markets move—in only two directions: up or down. You can either buy or sell. So why is it all so difficult, and why do so few traders find success? These are the secrets that we will uncover. This book does not aim to overwhelm you with fancy technical tools, complicated techniques, or difficult screenshots to impress you. Instead, we will focus on practical solutions and ideas for making money from intraday trading in the stock markets. It’s about how to approach the market every single morning. That is the crux of the matter.

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Our Trading Arsenal

We will reveal our reliable day trading systems that are easy to understand and simple to execute. We will also discuss the expectations, experiences, and growth that a newbie on D-Street goes through, day by day and year by year. On the technical side, we will talk about floor pivots and candlestick patterns and combine them with simple yet effective moving averages. Importantly, we will learn how to incorporate daily events and breaking news into our trading. We will explore how day traders can understand, interpret, and benefit from such events. Success in stock trading revolves around the 3Ms: method, money management, and mindset. In addition to the method, we will dedicate significant space to the often-overlooked second and third Ms: money management and mindset. Each day in the markets is different. Every new trade requires a specific approach. We will cover the types of markets, the kinds of days, the approaches to adopt, and the opportunities and traps that traders typically face. The ways of trading indices and individual stocks are very different. We will examine these differences with plenty of examples to illustrate our methods. Money is made through proper stock selection, timely entry, and strong trade management from entry to exit. This includes managing the trade, your overall account size, and, most importantly, managing your mindset throughout the journey. We will study not just techniques but also the art of reading the market. For market traders, there are times to show boldness and times to be wise and lay low. We will discuss these aspects and, as we proceed, weave the threads of intraday trading tactics into a strong money-making mechanism. Successful money management is what separates winning traders from losers.

Trading is like dancing on a revolving floor. The center of gravity is always changing, and you need to stay balanced in the midst of it all. You must be quick, agile, and alert.

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Expectations and Evolution of an Intraday Trader

Success in intraday trading and short-term trading requires a dynamic, alert, disciplined, and level-headed strategy. A trader must handle wins, endure losses, and recover quickly from both. Many people have made their mark and earned millions in this field. There is no reason to think it’s an impossible territory. Yes, the field can be unforgiving, and penalties for mistakes are harsh because markets do not forgive. However, the rewards are equally alluring and extend beyond just money. This field is only for those who are highly disciplined and prepared to go the extra mile. Using a metaphor from Bollywood, one might recall a line from the Hindi film Raees: “Fire in the belly combined with a cool head.” This combination of qualities is essential for a successful day trader. A novice on D-Street often believes that endless opportunities await him, and all he needs to do is claim his share. He thinks that once he identifies the right stock, he can ride it to extraordinary profits each morning. But he who does not know—and does not know that he does not know—cannot be saved. Novice traders often overlook the strategies they should use and the discipline they must follow. They are surrounded by others who make it seem easy. As a result, their expectations are often unrealistic. They struggle to piece together the puzzle. They may make money one day but lose it the next, bringing them back to square one. They might increase their funds and seek advice from various sources. As they begin to trade more frequently, even when they make profits, they often hesitate to take their gains, hoping for even bigger profits. They frequently end up deep in losses, and that’s when they finally exit. After stepping out, they might see the same stock moving in their expected direction! They then believe that if they had just stayed a little longer, they could have made a fortune. Next time, they do exactly that, only to face huge losses. Oh no! Only then do they realize there is much more to learn before they can rest easy. Thus begins a journey of self-discovery. If they successfully navigate it, they will not only grow financially but in many other ways as well. This book will guide you through the jungle to a rewarding journey.

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The Three Stages of a Trader’s Journey

A trader’s journey has three stages:

• The first is a “wow” stage, where they are amazed— and struck by greed—seeing the screen and the millions floating everywhere. They assume it all to be easy.

• Next comes the “how” stage, where reality hits. They realize it is not as simple as they thought and that significant effort is needed to succeed. If they survive this stage, they emerge victorious.

• Finally, there comes another “wow” stage when they can enjoy the rewards of their labor.

The path may sometimes seem long; at times, the journey might even feel daunting. However, we only succeed without glory if we conquer without risk. So let the game begin. Don’t just watch; take action. Let’s learn how to manage the chaos, cut through the noise, and navigate the madness of the market. It’s easy to complicate things, but true expertise lies in simplicity. That is the goal of this book. It will teach you to keep your eyes and ears open, use common sense, and maintain a daily trading routine that works. It will show you how to read market patterns, analyze the bigger picture, and then pinpoint when to take action. This gives you simple, effective methods for making money in intraday trading.