Trading as a studentÂ
If you’re in school or college and thinking about starting trading as a student—or already are—and genuinely trying to change your life, be sure to read this article to the end.
These are the 5 lessons that completely changed my life.
First of all let me clear one thing up…
If you are looking for a Get Rich Quick Scheme, a magical trick or a “become a millionaire or a crorepati in one day” type formula…
Then this article is not for you.
This is for those looking for a 5-year long-term plan.
I’ll give you a complete roadmap based on my personal experience.
If you’re a teenager, you have plenty of time and few resources—yet you’re wondering:
- How to take position in life?
- How to proceed?
- How can you become financially independent at the age of 25?
Then this guide is gold for you.
I started my journey at the age of 15. I first ran a fitness coaching business, and then ventured into trading a short time later.
Today, trading has completely changed my life—and with the right approach, it can change yours too.
If I could go back in time, I would give my younger self just these 5 lessons…
Today I’m going to give you those same lessons.
1. Trading is a long term game
Everyone thinks, “I’ll enter trading and make money quickly.”
Yes, you will make money quickly, but
quickly is comparable to the 9-to-5 traditional way of making money
After that, you start working.
And by the age of 40 to 45, you move up the corporate ladder, leadership by leadership. Then, you have very low chance of earning a yearly package of 1 crore to 2 crore?
If you compare trading to a 9-to-5 way, then of course trading can change your life. Now you are thinking that instead of 5 years it will take only 1 or 2 years, then this is not possible for you. read about debt mangementÂ
If making money was that easy, then everyone would already be rich by now. I wish someone had told me this point that you should set a plan or target for at least 5 years.
Don’t assume that I’ll start earning next month or next year. If you’re young, under 20, you have plenty of time. Even becoming a millionaire by 25 is a big achievement.
I am 23 years old today, and I started my journey at the age of 15. It took me 7 to 8 years to reach the level I am at today.
So nothing is going to happen quickly; it will take at least 5 to 6 years. Keep this in mind. Bro, 5 years will definitely be needed. So, how you should plan things moving forward is actually very simple, and that’s exactly what I’m going to explain in this article.
If you are still reading this article, you are probably OK with the fact that it will take at least 5 years. If you are OK, then congratulations, because you are already thinking ahead of 99% of people and thinking in a great way.
Whoever is thinking that it will happen in 1 or 2 years, that is not Possible.
In the first 1 to 2 years, you have to build yourself. 99% of influencers do not talk about these things. And the funniest thing is that people blindly follow anyone without seeing what that person is actually doing themselves.
Do you know why I wrote such a long article today? Because I have spent time on the skill of content writing, and I have made myself better than before.
Now the second point, which even I am able to say to myself.
2. Don’t focus on your next big trade
Your trading profession is associated with your character. Because whichever strategy you are using in trading, your entire mindset gets tested there. The stronger your mindset is, the better your trading will be.
You have to spend more time building yourself. I did the same thing for two to three years in my journey. I started fitness coaching, then I sold books. That’s where my first income stream started coming in.
Many teenagers think that they will trade with 10,000 or 20,000 and become millionaires. I have brought my accounts into significant loss many times because of this mindset. I have been able to survive in my trading journey because…
Because of my fitness coaching, I was able to fund my trading. But if you are thinking about trading or are going to start trading, then my first question to you is: do you have an income source through which you can fund your trading?
If your answer is yes, then that’s great. But if it’s no, then first create an income source. Of course, it will take time to create an income source, but once you learn how to monetize your skill, you can create a good income source.
Because of an income source, you will become a better person and you will learn how to deal with people. You will learn about business; losses are a small part of life. And all these things together will build a better character for you.
3. Big profit requires big capital
If you want to make big profits, then you will have to put in big capital. If you are thinking that you will make 1 lakh from 10,000, then this will not happen.
If you invest 10 lakhs, then at most you will be able to earn 1 to 2 lakhs a month with difficulty. And if you achieve that, my brother, you have become a great trader.
Then coming back to the basics—increase your income source. During this time, many temptations will come to your mind, like, “Let me spend money here and there.” I have also made this mistake.
When I had started earning money through fitness, I used to spend it on my shoes or sometimes on clothes. That is also necessary. But you are young, and you don’t have much responsibility on you.
And if you are earning 50,000 and spending it on yourself, then give only 10,000 to yourself—you can save the remaining 30,000 to 40,000 on the side and use it in your trading. If you do this for one year, then a big capital of 3 to 4 lakhs will be ready for you.
That is more than enough to start a trading journey. Of course, you won’t be able to make huge profits with 4 lakhs—maybe you will even sit with losses in the beginning. But at least you know that you will still have money.
Out of 5 lakhs, put only 1 lakh as trading capital. Start slowly, but in the long term you are learning trading—of course it will take 1 to 2 years, and you will keep moving forward.
And when you learn well, you will have your own capital—you won’t need to ask anyone. And never leave your income source; even if you are seeing profit in trading, that thing can help you your whole life.
If your trading income becomes very big, then at that time you can leave that income source.
4. Discipline, Patience and Self control
This 4th point is connected to the 3 points above. Patience should be your number 1 quality in trading, and discipline and self-control also play a very important role. You can build all of this while running a business.
If you are a young teenager in college and you have a lot of energy and time, utilize this time somewhere. The time you have right now will never come back.
I am not saying that you should only run after money. Pay attention to your physical health too—what you are eating, going for a run, going to the gym, and building discipline in the gym.
My discipline is so strong only because I have been going to the gym since the age of 15, and in the first 2 years, I did not skip even a single day. I had built bulletproof discipline.
After that, whatever I did in life, I just had to replicate that discipline. Because of this, discipline became part of my character. I just had to hold on to that discipline and apply it to trading, and it helped my trading journey a lot.
Do not waste even a single hour during your day.
5. Find mentor who suits your life style
Find a mentor who suits your journey. The most important thing is to find a mentor whose journey is similar to yours and whose footsteps you want to follow.
It’s possible that it could be me or someone else, but choose a mentor who relates to your journey. Someone who has a clear roadmap prepared for you and whose words make sense to you.
Conclusion
Finally, you have to keep a long-term vision. I know your intention was that you would start trading and instantly become a millionaire, but trading requires money.
This is the biggest mistake people make: they come with very little money, then they take loans, they take money from their parents, they even spend their college fees on trading—and their life gets destroyed.
Just imagine that the first thing you want to do is trading, and you end up losing your own college fees in it. Your parents will also think that you are useless.
Your own self-confidence will also become zero. You will feel as if you are not capable of doing anything. This article can completely change your way of thinking.
Trust me, there is literally nothing that I haven’t done myself. I have personally followed this exact roadmap to reach where I am today.