What kind of psychology does traders carry in India?
I can find most of traders quitting trading just because of losses..
A mere loss turns them off.
My friend ended trade just because he suffered loss in just 2 scrips that too intraday.
I really don't understand the mentality. :annoyed:
Although one can't generalize to every Indian traders obviously, your observation fits to decent junk of Indian population.
The reason could be:
* Culture and Mindset
* Personal level of Intelligence and Emotional Quotients.
Indian culture is generally skeptical about business, calling someone 'you are perfect businessman' is often not a compliment on the other hand 'he is a great teacher/doctor' is a compliment!
Indian culture and other oriental cultures seriously lack entrepreneurial spirit and independent thinking... In house dad makes all decision, in school teachers take all the decision... even in marriage... mostly its parents. Instead of questioning status quo, people are happy to preserve it. Ofcourse we can cherry pick successful Indian entrepreneurs but generally huge mass of Indians are trained for 9-5 desk job for atleast 25 years.
Even the existing business men and entrepreneurs have to reframe their success as 'its not all about profits' or 'will give back as if atoning for a sin' and still mother Teressa or a saint beat the business man hands down in respect from society. Although business men have done way more good than any saints and swamijis.
In India gamblers are frowned down and even cricket/sports betting is seen 'evil thing'.
Speculators are people from hell who makes profit from others misery and loss.
and like any other people in this world, Indians are extra sensitive to losses.
Now add these things:
a) guilt towards business and seeing profits as taboo secret pleasure.
b) seeing trading as gambling and ripping off hard working guys
c) speculators are villains never heroes
d) social pressure to stop being an ******* who makes profit from just flipping stocks, disrespectful gambler or evil speculator.
no wonder... most guys are preset to exit even before they enter!