After having little success with Affiliate marketing, thought of trying out trading in stock market. Started reading lots of material on technical analysis.
I was unable to actually understand much in the beginning, but then noticed few new indicators in my trading software. It intrigued me and I traded using them and was able to make some profit.
Then checked out other exotic indicators and was able to clearly understand the concept behind them. The only challenge was how to filter out false signals.
It was important as my budget was tight and hence; the margin for mistake was less.
My next lesson was in the derivatives market. Futures was an attractive prospect as it had good leverage additionally, you could carry forward your short position unlike in the equity segment. With futures dabbled in options intraday trading and lost money. Learnt one great lesson that derivatives especially options is not as easy as buy cheap and sell expensive. Inherently, it is; but lot many factors that could go against your bet of a trend.
Intrigued, I started watching YouTube videos regarding them and their fundamental theories. Dad advised me to give NISM series 8 exam and hence; started preparing for it. The pdf that was provided on registration gave me good knowledge and not only helped me clear the exam but also use it in real world trading.
Now, am busy developing a strategy using 2-3 indicators that would help me identify trend entry points and exit points while filtering out as much false signals as possible. If successful manually, would try to automate it.
Will keep updating this blog about the progress.