Hi Blueskythinking
I m no expert infact just a beginner like you so I dont know how u going to take my advice. Still I ll post cause this is not really an advice but my experience over the past couple of months of full time trading. I think people can learn from experiences of others in the same boat so if my experience helps to clear even an iota of doubt in your mind then my post would be successfull.
Two months back I too was in the same lines. I had started off investing close to one lakh in the market. None of them on the basis of my analysis but on tips from numerous sites abound. Then the market fell in to bearish mood and i thought these are in any case longish term investments (atleast thats wat the tip providers said) so no need to worry about the red in the portfolio. Let me take this oppurtunity to learn more on markets. I glanced upon one of the best threads I ve come across in any forum(not just trading related) namely "teach a man to fish ..." by Saint.
At the same time I got a phone call from one of my juniors asking for my advice on professional front. I explained him the importance of enjoying ones job and striving to learn more and improve your competency etc. On disconnecting the call I realised on the one hand i m advicing my junior on the importance of learning, and on the other hand I m here trying to make out a living by trading on tips being provided. What happned to all that self improvement. After that day I never looked into any of the tips being offered by the website. Not that they are nt usefull but that if I need to take up this as my career it would nt work if i myself knew nothing abt the markets. There in lies my views on your question to trade by tips.
If you are planning to enter fulltime tips are a big no. If we cant do it on our own what is the point in taking up it as a career. Just my views friend not any advice. I guess i ve not yet reached that stage where i can advice people in this forum..
I m no expert infact just a beginner like you so I dont know how u going to take my advice. Still I ll post cause this is not really an advice but my experience over the past couple of months of full time trading. I think people can learn from experiences of others in the same boat so if my experience helps to clear even an iota of doubt in your mind then my post would be successfull.
Two months back I too was in the same lines. I had started off investing close to one lakh in the market. None of them on the basis of my analysis but on tips from numerous sites abound. Then the market fell in to bearish mood and i thought these are in any case longish term investments (atleast thats wat the tip providers said) so no need to worry about the red in the portfolio. Let me take this oppurtunity to learn more on markets. I glanced upon one of the best threads I ve come across in any forum(not just trading related) namely "teach a man to fish ..." by Saint.
At the same time I got a phone call from one of my juniors asking for my advice on professional front. I explained him the importance of enjoying ones job and striving to learn more and improve your competency etc. On disconnecting the call I realised on the one hand i m advicing my junior on the importance of learning, and on the other hand I m here trying to make out a living by trading on tips being provided. What happned to all that self improvement. After that day I never looked into any of the tips being offered by the website. Not that they are nt usefull but that if I need to take up this as my career it would nt work if i myself knew nothing abt the markets. There in lies my views on your question to trade by tips.
If you are planning to enter fulltime tips are a big no. If we cant do it on our own what is the point in taking up it as a career. Just my views friend not any advice. I guess i ve not yet reached that stage where i can advice people in this forum..