Five-day work week, permanent off over the weekend, no presentation or yearly targets – some might call this a dream life, but for a trader, it is not a dream job as it comes with its own set of challenges, Sachin Gupta, CEO & Whole Time Director, Share India explains.
The equity market has changed a lot in the last 20 years and so has trading. From ‘badla’ system to electronic trading on the NSE or the BSE – markets have seen an overhaul since the 1990s thanks to the evolution of technology.
The price trend could well change in a fraction of a second and the strategy you thought was foolproof could soon run into losses.
Traders who are under constant pressure due to volatility should practice yoga at least 5 times a week and do Pranayama to maintain mental health for better decision making and managing stress, recommends Gupta who has over 20 years of trading experience.
A trader’s age is not more than 20-25 years compared to investors which could even go beyond 60 years, highlights Gupta thanks to excessive volatility and stress traders go through while trading.
Gupta highlights a few factors which traders should address when they start their trading journey –
- Do not compare yourself with fellow traders
- Family and your colleagues are your biggest support
- Stopping yourself from overtrading is meditation
- Take at least 15 days of holiday in a year to break the monotony
- Do breathing exercises
- Play a sport with teammates
- Practice yoga 5-days a week
- Traders should focus on non-speculative positions
- Implement strategies that are market neutral to avoid stress
- Adjust trading strategies with volatility
- Keep your targets fixed
- If your profit target is achieved shut down the machine and go
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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