Hello, I’m from Noida, and I’m here to share my journey with you all, hoping that it will give you some insights and maybe even answer some of the questions you have about making money in trading. I’ll keep it simple, sharing the life lessons I learned rather than complex technical jargon. My hope is that you can relate to my experiences.
The Transition from a Successful Business to an Uncertain Future
In 2015, I was 36 and had spent over 20 years in the ceramics and chemical business. Business had been booming, with a great lifestyle and money flow. But a major shift in product profiles occurred in the industry, something akin to the transition from cassette tapes to CDs, and then to USB drives. I realized my business wasn’t aligned with the new market direction, so I made the difficult decision to close it down.
Shutting down a business isn’t easy. Settling accounts with labor, creditors, and clients was a lengthy process. I eventually managed to walk away with about 15 million INR (1.5 crore rupees). However, going from a thriving business to this uncertainty was a significant shift. After enjoying a financially stable life, this drastic change left me wondering what to do next.
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Exploring New Ventures: Restaurants, Real Estate, and More
With some cash in hand, I started looking at other opportunities. Many suggested I open a restaurant or get into the food business, which seemed lucrative. But the profits didn’t match up with what I was used to. I also tried real estate, investing in a project or two, hoping for a good return, but ultimately, I realized these ventures didn’t bring the satisfaction or success I was looking for.
Entering the Stock Market A Journey with Many Ups and Downs
Eventually, I started exploring the stock market. With the guidance of friends and “market tips” from various sources, I decided to invest around 2-3 million INR (25-30 lakh rupees). I was told options trading was a good way to start, but lacking understanding, I suffered significant losses.
One example that comes to mind is buying options at 400 INR, only to watch them drop to 250 and eventually go to zero. I soon realized that trading based on tips wasn’t sustainable. A few quick wins made me think I understood the market, but a big loss always followed.
The Road to Recovery: Learning and Growing
As losses piled up, I fell into depression. My family, especially my wife, stood by me. Her encouragement pushed me to stop relying on others’ tips and instead focus on learning the fundamentals myself. I started studying the market closely, watching educational videos from experienced traders, and reading extensively. Over time, I realized the importance of consistent learning and patience in the stock market. This journey isn’t about luck or quick gains; it’s about knowledge.
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My Trading Strategy Today: Discipline and Realistic Goals
Today, I have a clear approach to trading. I aim to make 1.5 to 2 lakh rupees per month and stop once I achieve that target, only doing small trades afterward. For me, disciplined trading is key to consistency. I focus on risk management, use only 20-25% of my capital in any position, and keep the rest aside for flexibility.
Another crucial aspect is not letting emotions take over. By taking small, consistent gains, I avoid the temptation of going all in, which often leads to significant losses.
The Value of Education in Trading
If there’s one thing I’ve learned, it’s that you cannot succeed in the stock market without investing in your education. I’m not selling any courses or tips; my trading success has come from knowledge and practice. I encourage anyone who wants to enter this field to seek proper training and avoid the temptation of “hot tips.”
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FAQs
1. Who is Deepak Wadhwa?
Deepak Wadhwa is a successful entrepreneur and trader from Noida, known for his journey of resilience, from a prosperous business owner in ceramics and chemicals to finding success in stock market trading.
2. What was Deepak Wadhwa’s career before he entered trading?
Before trading, Deepak Wadhwa had a thriving business in ceramics and chemicals, but after a major industry shift, he decided to close it and explore new opportunities.
3. Why did Deepak Wadhwa transition to stock market trading?
After exiting his business, Deepak explored various other ventures like restaurants and real estate but found they didn’t satisfy him. Eventually, he turned to stock market trading, which aligned better with his interests and financial goals.
4. Did Deepak Wadhwa face challenges in his trading journey?
Yes, Deepak faced significant losses initially, especially when trading based on market tips from others. His journey involved learning from these mistakes and developing his own disciplined trading approach.
5. How did Deepak Wadhwa overcome his early trading failures?
Deepak overcame his early losses by focusing on self-education. He began studying the market in depth, learning from expert traders, reading books, and gradually developing his own strategies.
6. What is Deepak Wadhwa’s trading strategy?
Deepak maintains a disciplined approach by setting monthly income goals and only using a portion of his capital in trades to manage risk. He emphasizes the importance of small, consistent gains rather than high-risk trades.
7. What lessons does Deepak Wadhwa share for aspiring traders?
Deepak emphasizes the importance of education, discipline, and risk management in trading. He advises new traders to avoid relying on tips and to focus on continuous learning.
8. Does Deepak Wadhwa provide any courses or trading tips?
No, Deepak Wadhwa does not sell any courses or trading tips. Instead, he encourages others to seek proper education and knowledge if they are interested in stock trading.
9. What inspired Deepak Wadhwa to share his trading journey?
Deepak hopes his story will inspire others, showing that resilience and disciplined learning can lead to success in the stock market. He aims to help others avoid the mistakes he made early in his journey.
10. How does Deepak Wadhwa manage his emotions in trading?
Deepak emphasizes emotional control in trading, setting clear goals, and stopping once he achieves them to avoid overtrading. He believes that maintaining this discipline helps prevent major losses.
