Stop these things if you don't want to lose your capital | SAHI TRADING

How does a trader become profitable, man? >> Why did I come into the market? Look, to be very rich. It’s a single objective, to mint money. >> All right. Must mint money. >> The problem wasn't the strategy. There's a $ 40 million loss, meaning a ₹ 2,500 crore loss in 45 minutes. >> The problem was only and only execution . >> If you've lost money that you earned yourself, that is the easiest loss to recover. >> 70%of futures traders are loss-making. I think futures is tougher than options so >> See, in buying, the problem is people buy options with their entire account size until expiry. >> And they hold it. >> A futures trader cannot get away when the move is against them, whereas an option buyer can, and how to compensate for this? People who have been at it for over 3 years, everyone I’ve met has at least 50 lakhs in their account. >> If you want to start today, then with how much funds would you start? >> I would not come into the market. If you need ₹ 1 lakh every month and you say you'll make an average of 2%. That means your capital requirement is ₹ 50 lakhs. >> Okay. >> If I had 50 lakhs, I wouldn't trade at all. I would buy a flat. How is it that in the same place, mutual funds are fine but trading is not? Many people ask me, sir, is day trading...I love trading. When the chart moves, I feel it deep inside. But I can't trade. So guys, welcome to my home! And today, I have invited two friends who are not just my friends, they are also very big traders in India, who struggled themselves and are today at a position where I want to reach, and you want to reach. And after they arrived at home, the discussions I had with them, the things we talked about, made me feel like let's record this and I have put up some questions for them. But first, we will meet them and learn about their views. So welcome Arjun, my brother, and Sahil, thank you so much for giving your time. So >> Before that, I will say one thing, you said one thing that is wrong, that I also want to become like them. >> See, I was waiting for an opportunity to tell you, don't be too modest. >> But it’s good to be here. Tanay brother. >> No, no, thank you so much guys. So the biggest thing is, man, everyone asks me questions too. Your DMs are also flooded. I am sure Sahil bhai's comments also ask the same thing, how does a trader become profitable? Meaning, how does a trader become profitable? And well, let's start with Arjun, because Arjun has that, you know , 45-degree line. His PnL curve has always been trending upward like that. So Arjun, for you, how has the journey been and how does one become profitable ? So Tanmay bhai, if I talk about the start of my journey, initially I used to think that a profitable trader is someone who can predict the market the most number of times. But over time, I realized that nothing is further from the truth. >> Okay? >> The reality is completely different. Look, for me, trading and profitability depend on four pillars. The first is your edge. Okay? The second is your risk management. The third is your execution, and the fourth is consistency or your discipline. Okay. So when these four things combine, that is when your profitability emerges. I started full-time trading in 2017. So if I talk about the journey from then until now, I would like to say that the way I thought back then versus today, today it's about how much money I will lose if I am wrong. Yes. So the thought process changes, it's not about being right more often. But when I am wrong, I need to lose less money. Among these four pillars, there is another pillar, and my mistake was starting option trading without even knowing what options were. I thought it was just like cash. One point up, one point down . So that was my mistake, but very true . And Sahil bhai, for you, how do you see a trader becoming profitable? >> So basically, I see trading in two parts. One is your hard skill. What are the hard skills? Those skills required to do your job. And the second are soft skills. Soft skills are the attitude-related skills that determine how you approach your behavior in the market. So your hard skills are those. Technical analysis, fundamental analysis, expert opinions, reading reports. This is a continuous process for you. Even today, I study these. And just like a professional musician who might be at the highest level, they still practice a little bit every day. So those are hard skills. What are they practicing? That is the hard skill. The soft skill is related to your attitude toward money and how you articulate a thought in your mind. And over the years, if there is anything that has changed, because the hard skills of trading—I think in the first one to three years, the majority of people, myself included, had already understood what RSI is, what MACD is, which one I would use, where I would use it, and which one I would reject; we had already figured that out. The evolution that came about has all been in the soft skills—how I articulate a problem statement in my mind, and as Arjun said a while ago, a trader looks at the cost of making a decision. And I think keeping that cost at the forefront today is how I see it. But how does a trader become profitable, or what is the standout difference that perhaps existed in me versus my other peers who started at that time, since I started my career with option buying? The edge was this. I was extremely comfortable holding on to winning positions. So if a trade position went into profit, my behavior would become top-notch. And I would not—I mean, if I took a stock and it gave a breakout, I would be like, this is the position everyone wants to be in. So normally, individuals are thinking, okay, I will book profit on this at some resistance. But I would think about where to buy it back. So this is simply the way I was articulating the problem. So if I wanted to book profit, I would sell at the double-top resistance. But if my thought is that I need to buy, then when the rejection comes at the double top and something happens at an oversold condition, I am looking to buy that same stock back there. So what did you say? You thought that options are like equity, that you are averaging that 5-paise option. >> Correct. >> So what are you doing? You are averaging. In my case, if I have bought an option for ₹ 1 and it is trading below ₹ 1, then buying more is out of the question. >> Hmm. >> The question is that it shot up from ₹ 1 to 10. Now, when it comes back to ₹ 4, what do I do there? >> Right? >> And I would look at buying that option. >> Okay? >> So, averaging up or pyramiding. >> And no, if the position went into profit, only the market will take me out. I am not exiting. I am just sitting. With this attitude, if you just sit, then >> Perhaps I think I got away with it. Let me give you an example. Trading in the Zone is a beautiful book. If you haven't read or listened to it, do read it for trading psychology. So, the first time I heard it, I thought, what is Mark Douglas talking about? How will this improve trading? It’s impossible ! But I tend to read that book; I have a habit of reading it once every year. >> I read it every year, and every time, some new insight emerges from it. So, this journey of yours is a journey of evolution for a trader, much like the levels in a video game. Every year, you will unlock a new level and look at the market and your own process in a very different way. And when you look back in hindsight, you’ll say, "Man, what was I doing?" >> But Arjun, I have a completely opposite thought process on this. I tell people only two things very often. First is, if you are losing in stock trading... >> Meaning, if you are making losses, don't just think "I'll improve." Thinking, "I lost because I didn't keep a stop loss." Or, "I lost because I increased my position size." The loss has already happened, so stop trading first. That is my first piece of advice . The second is, don't use leverage; if you keep leverage under control, start with 1x and stick to 1x. I have 100 rupees. My exposure should only be 100 rupees. Then a trader will definitely become profitable. But if they keep trying to learn from mistakes along this journey, they won't even have any capital left. I’ve seen so many traders who are in a good position now, but at one point, they didn't even have the amount to buy a single lot. So, if a trader doesn't stop, they end up wiping their account to zero. >> No, but I have a slightly different take on this. Why did I come into the market, for instance? >> I wanted to become very rich. Extremely rich. Dangerously so, that was my goal when I was 28 or 29. >> My opinion was that I just wanted to mint money. >> But where could I mint it? I was working in a factory. I would leave at 7:00 AM to reach there by 9:00 AM. I would leave at 6:00 PM and reach home at 7:00 PM. I was working 12-hour shifts. Six days a week. I was growing there. I had a stable job. There’s a good identity that this guy is a manager at some factory. Like I worked at Fidelity. Worked at Deloitte Consulting. At Serum Institute. So in professional circles, there was a good identity, but I wasn't printing money. >> Hmm. >> So for me, there was only one place, and that was the market. You can't open a shop. You can't set up a factory. You can't do business. So I came to the market. >> Now, I didn't come to the market with crores of rupees or by selling my house . I came with half a month's salary. >> With a single objective: to print money . >> Hmm. >> Okay. To print money. It has to grow. And if it's gone, then I won't come back. But do you think every new trader in the market can come with that mindset and break it out? >> Maybe not everyone needs to become rich that urgently. But what options do you have? So for me, the option was to come into the market. >> My point is, I'm not saying this is a law. >> Yes. >> This is not a law that is applicable to every trader. This is just an experience that deep down, I didn't have a gambling problem, Tanmay. It’s not like if there’s a casino outside my house, I’d be going there. >> Yes. I don’t have a gambling problem. I had an income source problem, that I am heavily reliant on employment. When I save from there, I see rental income after 10 years. I don't see anything in between. >> Just two income sources. >> This won't work. I have to do something . I need business income. But I can't do business while staying in employment . So trading was the only logical choice, that I could do something via the internet where money is exchanged meaningfully. >> Okay? But at some point, you also have to focus on becoming good. And whenever that focus happens. That is when we start learning all the things you are mentioning. What are you mentioning? You are saying that if you have 100, you should do it with 100 only. So that it gives you, because it gives you time to know what I need to know, correct. Right? So when you are giving general advice, then as general advice, you are 100%correct. That if someone else asks me, "I have 100 rupees, what should I do?" I would say, try taking equity worth 100 rupees with that 100 rupees. Put a stop loss. But the voice inside me, there was no chance I would do that . >> I had to burst out. >> So for me, it was just that I was... >> I think you were lucky because in 2005, 21 years ago, I did the first and last course of my life. In that course, I was taught what those changing stock arrows on TV and the ticker tape actually meant. And after learning this , the instructor took one class, took the full fee, and taught us for one day . At the end of the day, when I went home, I told my parents that, "Now I think I can earn from capital markets." So people come to the markets with this mentality, and which obviously now we know is very wrong. When a new guy comes, he just wants to make money and feels like he knows everything, and the market then slams him—it gives him a carrot first, and the way it slams him later is something I have seen. >> To your point, when I was working at Deloitte, there was a training program where they were explaining the stages of learning, and they said the first stage of learning is unconscious incompetence—unconscious means you are unaware, and incompetence means you are terrible at something. >> Correct. >> So that means when an individual starts a new activity. Meaning, he is so bad at that activity that he doesn't even know how bad he is. >> Right? So when I came to the market, I never thought...I felt like I already came with a winning attitude from life. But you were at level one. Unconscious incompetence. You were horribly placed. Then it goes from unconscious incompetence to conscious incompetence. Now he is aware that he is really bad. Right? This is the second stage. The third stage is conscious competence. Now he will only be a professional when he is actively defining things. He has set the rules. Only if he decides will they be followed. But he still has that tendency to break all those rules. And then finally, the last stage comes: unconscious competence. He doesn't even know how good he is. So, Arjun, I want to know from you and Sahil as well. Ah, what do you think was your biggest mistake as a trader, probably? It was in a stock called Just Dial. >> Just Dial. >> Okay. So, let me quickly recap what I did in that. And I have just quit my job. And I said I’m going to print money like Sahil Bhai. Right. I'm going to kill it. I sold options with my entire account. Straddles. I had sold options in Just Dial. And I said, man, I've collected this premium, 4 lakh rupees will do the job. Right? Now, what happened? One afternoon, I was sitting comfortably in front of the screen. Just Dial starts to fall. One, two, five, six, seven, eight, 10 percent, and before I know it, the loss is, I think, around two, three, four lakhs. >> And I am frozen. >> I am unable to do anything. Because that is the first time you are seeing such a big loss. Your hand doesn't move . >> And that day I realized that no matter what happens, I cannot sit still in front of the screen. I have to exit the position, I have to manage it, otherwise, this will wipe out my capital. >> But Tanmay Bhai, more than that, >> There is one lesson I have realized in the markets: a mistake we often make is giving too much importance to any single trade. >> If you make a profit in any one trade, you say this strategy is great, I will follow only this. >> And when you lose, you say this strategy is terrible, change the strategy; now, this starts creating a cycle, a very dangerous cycle, I call it the dangerous loop. >> Okay. >> The loop is that you face a loss somewhere, you say this strategy isn't working, find something else, I was doing RSI earlier, now I will do Supertrend, so you switch to Supertrend , and now a couple of trades in Supertrend go into profit. You say, wow , this is amazing. Yes. >> Right? Now confidence comes in and you increase your size. >> When you increase your size, one or two trades go well. But then your drawdown comes. Now that drawdown has come on the increased capital. >> And it brings you right back down. It’s exactly like the game of Snakes and Ladders. >> And again, that loop begins. You say Supertrend isn't good. Now I will >> take RSI, moving averages, or something else. Switch to breakouts. >> So this is the cycle one has to break out of. So this is the number one trading mistake. Other than that, there is one major issue, and that is execution, which nobody pays attention to. Now, let me give the viewers some perspective. Let's say you are buying options in Nifty. Alright? >> And sometimes you enter too early, sometimes you enter late. Because of this, you give away one extra point on every trade. You incur a loss of one point. You take 100 trades in a month. So on 100 trades, you lose 100 points. You say, "Come on, it's just one point. " What difference does it make? ₹ 65 gone, right? >> They're gone. On 100 trades, you've spent 6500 in one month. Let's say your capital is ₹ 1 lakh. You have given away an entire month's worth of FD interest, 6.5%. >> So, once you start improving your execution, your profitability starts to kick in on its own. Let me give you an example of this. Sahil, have you heard of Knight Capital? >> Firms. >> So, let's talk about Knight Capital in 2012. What did Knight Capital do? A very good HFT firm, one of the top HFT firms in the US. >> So, Sahil, they released their new trading software and applied an update. They had eight servers. They updated seven of them. One was left out by chance. The market opens the next day. In the morning, the system on the eighth server that was missed, fires 4 million orders across 150 stocks. Right ? And within 45 minutes, they face a loss of 440 million dollars. Meaning, a loss of 2500 crores in 45 minutes. The problem wasn't the strategy. The problem was purely and solely execution . >> And for you, Sahil, what was your biggest mistake as a trader? >> So, I divide the biggest mistake into two parts. One that I committed, and one that I see others committing. >> Yes. >> So, the biggest mistake others make is trading with borrowed money. >> Okay. Meaning, their account, the funds , the source of funding is from somewhere else. If you lose your own hard-earned money, that is the easiest loss to recover. >> And in business, that's it, right? In every business's quarterly results, what do we hear? How will we improve our margins? The entire analyst community is looking for ways where the board can explain how our margins will improve. So, what are margins? Cost optimization, so how to increase profitability? So, rightly put, for me, the biggest mistake I would say was that wrong trade of mine. I had a call option for RCom at 600, and somebody like Sahil, my friend, introduced to Sahil—we will come to Arjun in a week too. So, basically, a friend told me, " Man, why are you trading in cash?""Look at these options, they move so amazingly!" They move up and down, so you can easily get by during the day. RCom was at 520, 530. RCom kept going up, the call kept coming down. Right? I just couldn't understand what was happening. I kept averaging it down to 5 paise, and finally, it went to zero on expiry. So I didn't understand how the account balance became zero, how it all vanished, or how you could even reach zero. So I think not knowing the instrument you are trading is the biggest mistake I have made, and personally, I have seen many people jump directly from cash to options. Meaning, they don't even know futures and they started options trading, so I think that was my mistake. >> Now I think futures is tougher than options, so. >> Much tougher than. >> You feel. >> Yeah, yeah, definitely. >> Because you play coins; we play in three directions: probably up, down, and sideways. If I talk about buying, then buying is much tougher than options, sorry, than futures. Correct. I would say that the problem with buying is that people buy options with their entire account size until expiry. >> And they hold it. The problem is holding; let's say I hold one lot of futures, I will get MTM, but my account won't be wiped out unless there is a very wild move. >> Even then, the broker will stop me or square it off, so my entire account can't be wiped out. In option buying, there is no one to stop you. >> Yes, but you see, what is the basic difference between futures and options? A future is an option where delta equals 1 and gamma equals 0, correct. >> So in the case of an option, delta will be 0.9, 0.8, 0.5, 0.2, and gamma will adjust accordingly. No, but the problem is, Sahil bhai, that you have 1 crore rupees and the futures position you take will probably be for 5 crores. If I have 1 crore rupees, I can take an exposure of 1000 crores through option buying. >> That is true. But that is why when we talk about money management and instruments, like if we talk about money management and instruments, the fact that a future position can in theory give you infinite loss through a gap down, which an option does not. >> When you run it across 200 asset classes for your entire career, in that case, if you don't have the risk management ability, like Arjun mentioned that when the loss happened, what happened? Hands froze. Let me tell you about an option buyer; he bought an option at 100 rupees. The market had a gap down for him. As soon as the gap down happened, his option opened at 30 rupees. >> Yes. >> Now he is fighting for 30 points. And even then he feels that, man, if the market gaps and runs and falls back the whole day. That ₹ 30 option is going to close at 20 or 15. So, essentially he is fighting for, say, 15 points. So he will hold it. He will hope for a recovery. A recovery will come. So he might sell that ₹ 30 option at 60 and he will feel good about it. A futures trader cannot do this. If it gaps down, the move where the option falls only 10 points, his future will be wiped out. So a futures trader cannot get away when the move is against them, whereas an option buyer can, and how do they compensate for this? It is compensated by saying if I am right, I get paid in full. >> No ifs and buts. So that is why I feel this is the reason why I feel futures trading is slightly tougher than option trading. This is >> I think option trading is much more lucrative because how is it in futures? It is a linear instrument. This is a convex instrument. So playing any convex instrument, whether on the buy side or the sell side, you are taking the opposite. So that instrument in itself is quite complex. So its behavior is not linear. So because of that, it is very difficult to trade. But that is what gives an added advantage, that I don't have to bet on up or down. I can also bet on sideways using options. >> Correct. >> So brother. >> Like, even if you look at the SEBI report. >> So the SEBI report says that 70%of option buyers...... >> of futures traders are loss-making. I think that was the... >> rough number. >> I just, sorry, it's good you brought this up. Look, the SEBI report has said something about traders. But on the entire SEBI site, what is a trader? That has not been defined. See, if we are talking about a profession and saying 93%of all traders are losers, then all I am saying is we need to be very scientific about it—who is a trader? >> No, they have classified it. So any person who does any trade within 30 days. Then they are classified as a trader. So in 12 months, if they have traded in 12 different months. Even if they have done one trade. Quantity doesn't matter, he is classified as a ... >> So now my point is just this. So you just take one trade. >> Yes. >> Then you are in the data. >> Yes, you are, you are. >> Now, let me say something else. Suppose I want to buy Reliance worth ₹ 5 million. You will all agree that the risk is maximum when the position is created. >> Correct. >> Then, if the position goes against you. You will realize the risk. If it goes in your direction. Your risk exposure will keep decreasing. >> Correct. >> So when the position is created, the risk is maximum. I want to pick up Reliance worth ₹ 10 million. So logically, I will buy a put, right? >> Yes. >> Because I want to take an equity position of 10 million at a single value. So, to hedge that, if that option weren't there, I wouldn't even buy Reliance worth 10 million at a single value. Because I want to mitigate that risk. Now, when that same person's contract comes, they will get different results in equity versus trading. My point is, who is a trader? A trader is that person who proves that short-term trading is an income source for them for a period of at least three years. Even if it's just ₹ 1000. That should be the definition of a professional trader; just because I have a cricket bat... >> No, but I think the data is correct, man. Which profession has a winning percentage of more than 50? >> Pick any startup. Or any business, actually any profession, the success rate of >> that particular profession or business is not more than 5-7 percent. >> No, but we aren't talking about success rates, we are talking about the definition. >> That when we look at SEBI data, or within >> SEBI, anyone can come in, right? Whether I have ₹ 1000 in my pocket, or 10 million, or 100 million, it doesn't matter; I can enter the markets with whatever money I have. >> Yes, as long as you make money through short-term trading activity over a period of three years, you are definitely a trader. Your data should show it. >> Okay? >> But suppose, like in my example, I know how to hit a ball with a bat. Does that make me a cricketer? How do we distinguish between a professional athlete >> and a hobbyist? The answer is simple. A professional cricketer gets paid to play cricket. I don't. The day I earn money playing cricket for 3 years, then I can openly say I am an athlete. Hmm. >> Until that time, anyone playing cricket or football in the street is just a hobbyist. So, when your income source defines your identity, why is a doctor a doctor? Because money is coming from healthcare. Otherwise, they are only a doctor on the certificate. So, if we aren't getting a certificate, then our income source defines our identity. And now I would tell SEBI, or anyone else, that if you want data on trading, then conduct two studies. One set of people who didn't even survive 3 years in the market, and another set of people who have been F&O trading for over 3 years. And now I will ask you, Tanmay, the people who have been at it for over 3 years, everyone I have met, they have at least 50 lakhs to a crore in their accounts. Yes, I won't say they earned it, but they have the confidence that they can manage it. What came in 3 years? Confidence came. Now I will study and review that person's trading record because he is adequately funded. He has seen the market for 3 years, he has taken who knows how many hundreds of positions in F&O. Just because any random person comes and opens an account, especially where it doesn't even cost ₹ 1000 to open one, and you include their data, in my view, the trading profession gets defamed. So according to you, Sahil and Arjun, if one has to start, if you want to start today by going back in history, then with how much funds would you start? Like what would be your starting capital, not considering current wealth ? We think about how a beginner, or even you, could restart; with how much capital would it be possible? >> So, I will continue with what Sahil bhai said. >> Look, you have to decide whether you are doing this for a hobby or as an income source; the capital requirement is different for both. If you want to do it for a hobby, >> then put ₹ 1000 in the account, put 5000, put 1000, put a lakh, whatever you want to put. >> But if you want to do this as an income source, >> then the calculation is a bit different . >> Now, how is that calculation done? Let's say I want to make ₹ 1 lakh from trading. >> Okay? Let's make it simple: 12 lakhs is tax-free in India, so 12 lakhs is the average; let's assume we want to earn 12 lakhs a year. To earn 1 lakh a month . >> Right? >> Now, if you want to earn 1 lakh a month , >> and Tanmay bhai, I say my capital is just ₹ 5 lakhs. >> Then that means you have to extract 20% every month. Extract every month. Tell me, is there any firm in the world that is extracting 20%every month? Excluding some exceptions, maybe, but otherwise. It happens for short durations. Their short system worked. It gave them returns. And then you'll have to hold it for six months after that. But other than that, there is absolutely no way you can consistently make 20%every month. >> You can make it. >> So a reliable figure, I think, conservatively is around 2%. >> 2 to 3%, because when you start with small capital, you also take a bit more risk. So you can still aim for 2, 3, or 4%. Correct. >> If you look at the returns that equity markets provide, >> Your Nifty returns are actually quite low right now. But let's talk about the long term; it gives returns of 15%to 20 %. So I say you aim for more than that because since you are trading full-time , naturally you would want more. So that figure is, let's say, 3%. >> Okay? So to generate 3%, >> You have to do a reverse calculation. Now, if that is ₹ 1 lakh, for ease of calculation, I'll keep it at 2%. Correct. >> If you need ₹ 1 lakh every month and you say on average I will generate 2%, That means your capital requirement is ₹ 50 lakhs. >> Okay Sahil bhai, for you. >> So as I told you Tanmay bhai, for me the markets—well, the markets are like a mountain is to a Sherpa. He asks the market. >> Yes. >> Okay. The market, what? It allows us two things. It allows us to create liability-free assets. Meaning I don't need to take on debt to create assets. Go anywhere else, if you want to buy a house, look at your house; someone always takes on debt. But in the market , this doesn't happen; you can directly buy a real estate company's stock for ₹ 200. >> Hmm. >> For ₹ 500, so liability-free assets, and the second is a potential income source through short trading—what is the difference between trading and investing? Trading is a means of income generation. Whereas investing means I have surplus income and I am allocating my savings. So when I came into the market, as of now, I believe that our ability—it becomes an Indian national's birthright to be in the market, so if I need income, and if no one gives me any other job, or there is no possibility, I can still go to my market and approach it for financial income. This should be our fundamental right, just like the right to educate a child, the right to practice culture, religion, language—the right to financial growth and freedom should be one of those fundamental rights. So when I started trading, I started with my monthly salary. My salary could be 1 lakh, someone else's salary could be ₹ 100, and believe it or not, back then, as you were mentioning a while ago—which perhaps wasn't recorded— we could ride the Nifty for ₹ 2000, we could trade futures, we could. I have made a point that because of that 1 lakh, because of taking margins of two or three thousand, I was able to dream big. Thousands of people must be doing it. Maybe I could even realize success because I was just risking one month's salary. And I took thousands of trades, and only then did that confidence come that, okay, maybe 2 months 'salary, maybe 5 months' salary. >> But this was back in 2015, when STT was at 0.01, when our margins were 2000, 5000. >> So back then, I could bring my monthly salary and look at the markets as a career. So, if I had to start then, I would do the same thing; I would bring 1 lakh and join. If I had to start today, I would not come to the markets to trade; because my fundamental right to go to the market as a potential income source has been taken away today . The Nifty lot size has increased 10 to 20 times from what you were trading, and I don't even know where the STTs have reached. The place where people should come to earn income has been maligned. The market is a place where there is financial abundance. It is being abused by calling it a casino. How is it that at the same place? Mutual funds are fine, but trading is not. This step-motherly treatment, I do not like. So if I had to start my trading career today, because he mentioned that it takes ₹ 50 lakhs. If I had 50 lakhs, I wouldn't come by borrowing money. >> Then I wouldn't trade at all. I would buy a flat. Let's talk practically. Someone has 50 lakhs lying around. Won't they buy a house? Hmm. >> They will buy a flat and put it on rent . This is what a normal person would do . But when they had 1 lakh, 5 lakhs, they couldn't buy a flat, right? So what could they have done? But the vision is there to grow in life, right? So the market was that, which has been taken from us and we want it back. They should reduce tax rates. Many people ask me, "Sir, day trading?" I love trading. You know, I love it. When that chart moves, I feel something inside. Okay? >> I think everyone feels that way. But I can't trade. >> Yeah. >> Because of these draconian rules. I have to go positional. I need to do both long and short. But I can't do it because of the cost. Whenever you bring your one month's salary to the market, whether it is 10,000 or 2 lakhs. >> Absolutely correct. And one last question, I know the answer obviously. But still, touch wood, if you lost everything today, your whole wealth, would you come into trading again and build up wealth from zero? >> Trading is the only place I would be. >> Okay. >> Because, I am telling you, as I told you, I worked at Fidelity Investments, worked at Deloitte Consulting, worked at Serum Institute, started my job in 2006, left the job in 2020, so that's almost 14 years. >> Almost yes, I did an MBA for two years in between, so it's 12 years of active job experience. Not one place is like the market, man. >> Exactly, I mean, in which job is every day so dynamic that one day is not like the other, damn, every day is different . And for you, Arjun? >> You, brother, left it first, exactly like that. >> And secondly, this is my bread and butter. >> Okay. >> And more than that, it is a passion. >> Yes. >> I left my job for this. Right? And I earned nothing for two years, because whatever I have to make, I have to make from here. So if given the chance to start once again, I will 110%pick this once more. It's like you are going hunting. >> Right? And you are hunting and bringing it back daily, and eating that food. That joy is something else. >> But if something like this happens, or if it has happened to someone. First thing is to stop trading. >> Immediately, don't get back, and if you are not plugging the reason due to which the loss happened. Then the market will take it back once again, correct. >> And the thing is that, initially, that is why I tell everyone to make their mistakes on a small capital. Do it quickly. No problem. Trade however you want with small capital, no issues. >> Salary is more than enough. You can learn from that. Correct? >> But as your capital grows and you start making those mistakes again and again. The cost of mistakes becomes higher and higher. And the market lets you off once. It will let you off the second time too. But it won't let you off every time, and it will take it all back. Correct, team with me, man. I mean, the dynamic nature of the market, and personally, I don't really know anything else after all these years. So , I cannot be out of the market. I mean , as a trader I have stopped day trading a lot and shifted to algos many years ago, but sitting in front of the screen itself, it's so much fun, man, like, having positions. >> I look forward to Mondays, yes, like if the markets have holidays, man, it gets boring, I mean, I don't get why these 6 hours are blocked. >> A long weekend equals depression, man. >> Right? Purposelessness, depression. I know many viewers ask, "Hey, if you've earned so much, why do you still do this?" Why is that? I need to stay connected to the market, brother. >> Yes. >> I need to stay connected, so I do all this just to stay connected. >> Correct. >> The market is the place to be, so become a research analyst. Do your IS, IS. Take some NISM exams or something. Do some studying. You know, and just be with the market. I mean, the market is where I would be, I think. So guys, that was it for today, my friends spent time with me. But this was just in a formal setting. I have so many questions to ask them. I have so much to talk about. So if you liked this video, then comment, whether you are a trader or investor, and we will talk to such traders, our friends, and learn new strategies and new psychological methods so that your trading and investing journey can be great. So thank you all for joining in and do like and share this video if you liked it and don't forget to subscribe to our channel.