Draft scribbled on 1st December-2009
Almost a year after getting the pass to Dalaal street (DMAT account), I finally started trading (peace of mind for riches). Jeffrey Archer's 'Not a penny more, not a penny less' definitely influenced me in focusing on quick profits however less they may be. Prior to IIMB, I did not put an iota of effort in knowing about the animals called stocks, sensex etc. etc. (One of the many many things IIMB taught me). I was determined to make quick profits and make it a habit. I have always heard people cribbing about their losses. I want to prove a point. Yes, the hero in me awoke. Only strategy (if it can be called so) in my repertoire - Closely follow the price movements, not to get over greedy and break the marriage once decent level profits are booked. The first share I bought was TCS at around INR 588 which I sold at around INR 612 hence booked my first profit. Sold Reliance communications after making INR 200, if I had sold today I would have made 400, but who cares!. Bharti and Satyam are in RED. But I am sure Satyam is a great buy, one of the rare stocks with whom my marriage will last long.
All in all, analyzing companies, sectors, understanding market sentiments, triggers to market volatility, every bit of it has been a very satisfying learning experience. Again a caveat, do not over do anything, any amount of analysis cannot win over the surprises hurled by the markets - Beware if a dog of a VVVIP in India has diarrhea, the index may head south, so STRAANG is the correlation between the least related things and stock markets!!
:)
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