From a very young age I was interested in the share market as I always saw my father switch on the TV sharp at 9:15 am and do a few trades before leaving for his office. He was not a professional trader, so more often than not we used to suffer losses. Sometimes the losses were huge but the best thing was my father did not give up. He learnt from his mistakes and tried not to repeat them. I tried to inculcate this habit in me.
I wanted to become a professional trader. First and the foremost thing I did was getting accustomed with what was happening around me by reading newspaper on a regular basis. Then I started to do virtual trading. I had my fair share of beginners luck while doing the virtual trades. So, I thought that I have mastered the art of choosing right stocks and I could earn a fortune in the stock market.
Next day I started trading in actual market and to my surprise my first 3 stocks gave decent returns in a short span of time and I was on top of the world thinking that I am the best all my stock selections will result in positive returns but much my to charge in my pseudo happiness was short lived and the next 18 stocks gave negative returns resulting in huge losses. At that moment I decided that I wont ever trade in my life. I gave up. My father came to my rescue, he told me stories about his initial trading days which were worse than mine. Instantly my mood was lifted and in the back of my mind I was prepared for my second innings in stock market. This time I had decided that I would not invest without having proper knowledge about the market. I started reading a lot of books on Stock market. Then I took a very big decision in my life that I would want to pursue CFA as this was the course which totally aligned with my interests. I started studying for my Level 1 exam, I worked really hard and cleared Level 1 in one attempt. It gave me a sense of accomplishment though I knew that I had a long way to go.
After reading a lot about the Stock market I again started trading and investing in the market but this time I always remembered the humbling I received from the market the last time. I vowed not to repeat my mistakes. Now I have a success rate of 42% which previously was a paltry 14.28%. 42% might not sound a good figure but for me it was a great accomplishment and gave me a sense of pride.