Sunday, January 6, 2013

Finding Your Niche

Earning a living, or for that matter making profits from the stock markets requires talent, discipline and common sense but before all that you first need to find your calling in life.

Edward Thorp in his interview to Jack D. Schwager in Hedge Fund Market Wizards advises stock market participants-

--Do What You Love and the Money Will Follow.

--First you need to figure out what you are good at or what your skill set is and then apply these skills to the markets. If you are really good at accounting, you might be good as a value investor. If you are strong in computers and math, you might do best with a quantitative approach.

In another interview in the same book Steve Clark advises-

-- Budding traders to first make sure that they understand their motivation. Not everyone who says that he wants to be a trader really does. Trading has a macho mystique to it.

So it is one thing to get attracted to markets for the action that they provide and a completely different and difficult thing to earn a living out of the markets.

[Contributed by Jitender Yadav].


Dinesh Rishi said...
This comment has been removed by the author.
Dinesh Rishi said...

Thanks Sir,

for the nice post

There had been so much contribution by Mr. Jitender Yadav.

Plz tell us something about Mr. Jitender Yadav

Dharmesh Ghael said...

Today You have Buy on LIC Housing!!!!!!!!!!!!!!!!!
I am surprised , because
On Hrly Chart it is forming Head and soulder pattern which is bearish,
On daily chart it if forming Doji(3 doji in a raw)
and also broke lower trend line on daily chart.
Kindly suggest why u have given buy call

Dinesh said...

Dear Sir,
Excellent post by Mr. Jitender Yadav. One should love what he/she is doing or one should do what he/she loves doing. The passion drives the success.