The Stock Market is an unpredictable place. Many a times, even extremely experienced traders face worst situations. In such a world based on ups and downs, to hold your grounds and follow your ambitions is remarkable. A perfect example of this is Prachita Doshi.
Let’s see what She has to say about Stock Market, its principles, the gender factor and why investing early is beneficial for youngsters today…
1. What do you do right now? Tell us about yourself.
P: I am working independently as a technical and research analyst in stock market. Currently, I am trading and investing for short term to medium term.
2. Nice. What got you interested in the Stock market?
P: In last year of my graduation, the subject of Investment Analysis and Portfolio Management had got me curious to learn more about stock market. That is when I decided I’d study more about it.
3. Wow. Unconventional. So tell us, when was the first time you invested in a stock? Which stock was it?
P: I guess I started investing 5 years ago. I wasn’t really nervous, but since it was the first stock I was investing in, it was special. I had invested in a stock named Tata Elxsi.
4. How has the balance between Profit and Loss been since the time you started trading?
P: One experiences both Profit and loss in the market. I have been investing since 5 years now and the year ends for all years have been profitable. Also, in this business you calculate yearly returns rather than monthly, provided that one manages to get 18%-20% return on their investment. Then, its considered good.
5. That’s very insightful. So, how important do you think, is to study and observe the Stock Market before entering it? Have you taken up any classes on it in the past?
P: One needs to have a basic knowledge about share market in order to trade or make an investment in stock market. Also it’s important to have a trading strategy for which one needs to have knowledge. This can be obtained in classes or courses.
One also comes to know about the risk one is taking while making an investment. Risk management is equally important in stock market. I have taken training on a beginner’s course of technical analysis under Dr. C.K. Narayan and acquired a certificate as Research Analyst provided by NISM.
6. Amazing. Also, how welcoming has the market been to you? Has the fact of you being a girl affected your position in the Market?
P: This is one market where nominal interaction exists. Everything is done virtually. For example: reading of charts, or buying or selling of stocks. Even reports are available online. So gender bias is not very relevant in the given scenario. It is not applicable. Also, more and more girls are getting into research. For me, it has been a smooth ride. 🙂
7. So true. Why do you think very less women get interested in the Stock Market? What do you think about the notion that “A Woman can’t trade”?
P: I totally disagree with such notions. Women are very good with numbers, I would say. Don’t you see how she manages the house expenses so well!? In fact it is a very good career opportunity for women, as they can work from home. Women can study the charts and the company reports at their convenient time. They just have to give minimum time from their day to observe market movements, even if they’re busy.
8. Well said! Tell us, who has been your inspiration as far as trading is concerned?
P: Atul Suri. He too is a technical analyst, and has inspired me a lot.
10. Great. Let’s come to the main question. How important and profitable is Trading and Investment in the Stock Market, for youngsters today, according to you?
Youngsters today have the impression of stock market as a fast way of earning money. But in reality, it is not. One needs to be disciplined, must have their trading and investment strategy and be consistent in their investment. They should not be carried away with profits or losses. If youngsters just keep in mind these few things, they can rule the stock market! 🙂
As they are young and have less responsibility, they must invest in stock market. They should be risk takers. With proper understanding and observation and a bit of study, it will be profitable for them.
There is immense opportunity in this field as an analyst as well as an investor.
11. That’s such a nice answer. Truly Inspiring. Lastly, what message would you like to give to aspiring traders? What is your success Mantra?
I had read a statement in Gujarati related to stock market i.e. “in order to make profits and sustain in share market, one needs to know and follow three D’s which is Dhan, Dheeraj and Dhyan (money, patience and attention).” I truly follow this.
To the aspiring traders I’d like to say that it is very important to be self controlled, disciplined, consistent and plan driven. You must have faith in your trading strategy and should have the ability to implement it. Every person has different strategies according to their personality. So understand yourself and your personality, and that should take you a long way. 🙂
Such wise words, miss! I am sure those words will truly inspire the readers to step into the world of Stock Market. Am I right guys? 😛
That was Prachita Doshi for you’ll guys. If you wish to know more about the stock market, investment and trading, kindly leave a comment below and we shall help you out!