You become a trader either by choice or by Luck. Today in Big Bull Podcast we are introducing you to VM Mathakia who thinks he is a trader by luck and has a fascinating story to tell.
According to Mathakia, he started his stint in the stock market in 2007 when he bought the IPO of Reliance Power without any know-how of the stock market. He purchased 1 lot for ₹15000 because everyone was buying it.
But he could not earn much profit from it and in the Lehman Crisis of 2008 lost all of his capital. He bid goodbye to the stock market forever thinking the stock market is a gamble.
But in 12th Standard, he saw his mathematics tuition teacher doing wonders in stock trading and realised that the stock market is not a Gamble at all.
He started learning it slowly from zero and was taking small traders before starting it properly in 2014 while pursuing his graduation. He was profitable initially. Even turned his 15000 capital into 32000 rupees.
With this 32000 profit he purchased 100 shares of Hero Motorcorp but with a sleight of luck lost all of the capital again.
One of his friends introduced him to charts and he learnt the technicals and started trading again. This time he made a resounding profit of 1.25 lakh. Now this capital was enough so he collaborated with another trader who provided him with capital for trading.
Mathakia was trading on his behalf in lieu of commission. But unknowingly he indulged in dabba trading. He gave massive returns to his partner and was anticipating 16 lahks as commission.
He even bought Bike and TV on EMI because he was expecting a 16 lakh commission but he did not get a single penny and had to sell those items.
Frustrated he went to Gujarat, opened his own demat account with Sharekhan and started trading properly with ramiang Capital of 1 lakh. After some hits and lots of misses, he was left with 32000 rupees only and at that point, he realized that trading is not his cup of tea and he became an Investor.
The whole podcast is very interesting so watch the video to full length and tell us how did you find it.
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In this stock market podcast:
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Option Chain Analysis | Options Trading | Technical Analysis | Options Greeks | Stock Market Podcast | Trading | Podcast | Price Action| Price Action Trading | Price Action Patterns | Price Action Strategy | Futures Trading | Futures Trading Strategies | Put Buy | Call Buy| Positional Trading | Pure Price Action Trader | Pure Price Action | Pure Price Action Trading
00:00 Intro
02:38 Initial Journey in Stock Market
11:12 Stock Market Learning, Initial Profits and Losses
17:15 Introduction to Technical Analysis
23:50 Partnership with a Trader for Commission
32:39 Fallout with Partner and Later Journey
40:45 Opened his Own Demat Account
48:00 Biggest Loss During Demonetization