A young reader has sent me this:
I am a student of XXXXXX Pursuing MBA(Finance) to be completed in Feb-2010. I have a loan of 5,00,000 oustanding to be paid starting in the next 6 months and wanted to learn technical analysis. I am trading the stock markets for the last 4.5 years and am deeply interested in pursuing trading as a career.
I am thinking about joining XXXXXX for the course of XXXXXX at the cost of 75000 + 10.3% tax. with live market training at the cost of loss to be borne by the company. after which they assure of a job is the performance is satisfactory.
what should i do ?
With some regret, I can give advice which is likely to make the reader unhappy. But here goes: The most sensible course of action after completing your MBA is to get a job. Now, if you are lucky, you can get a job in a brokerage / trading firm where you will be closer to the market, but that is not important. At this stage in your career, you need to have a stable income so that you can repay your loan. The loan comes first.
You should NOT pay for any course to learn trading. There is no assurance on a stable career path once you have completed this course.
It seems that Technical Analysis is your favorite activity, and, I can understand this. Same here. At some point in my life, I was lucky enough to have a career in my favorite activity. But, life is what it is. There are people who love golf yet work in different areas. They devote a considerable part of their time to golf although they do not earn their living from it. And...... cricket ??
Take one step at a time. Your first step is to have stability and take care of your dues. A career in trading will not give you stability.