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TRADE AND GROW RICH
Authors :   Mr Indrazith Shantharaj    & Kirankumar NayakÂ
Publishers :  Notion Press    Price Rs 499.00  Available on-line  at AMAZON .IN ​​
About the Authors :Â
 Mr Indrazith Shantharaj is a full time trader and coach in stock market . He is a former IT Professional and now pursuing full time career in stock market .  Krishnakumar Nayak ,  an Engineer by qualification , has built mechanical systems to trade in Nifty and Crude Futures ​​
REVIEWÂ Â PUBLISHED ON 14.08.2018 :Â
Stock Trading is some times referred as Informed Gambling  . Hence taken by many as a pastime  for gambling on the movement of prices of shares  . For some others it is investment avenue and buying and selling is just a part of the process . But one needs to be daring to take trading in a stock market as profession for a livelihood   . Many of those who are active in stock market have dreamt to become another Buffet or Jhunjhunwala   and to earn crores . Actually most fail  to recover  their investment and turn sour towards the market .  Whether you are in the market as professional or just for thrill of the market , you have to have some discipline to be successful in the market .To be successful in market , one needs small capital ,  some  study and hard work and lot of patience .   A professional needs  education and  training to be successful in his profession . No sportsman can be winner in  any  sports  discipline  without training and hard work .  But many in the market dream of becoming successful traders  without education , training or commitment . The book is under reference is for those  who want to take  stock trading seriously as a profession  , especially for those  who want to make stock trading a career .  The road is fraught with risks  and  it is not easy  for a person with limited resources and small risk taking ability .  In other trades there is some guarantee of margins  for a trader and they have to find avenues  increase the volumes to break even . In stock trading , there is no guarantee of margin and hence the journey here is more adventurous . For a new entrant , the book is like a primer which gives glimpses of what he should learn  before entering the market . All basics are explained in a lucid way .  A dilemma one confronts  is to base his decision on fundamental information of a company or technical chart that shows the movement of the price . For a new comer decision is daunting as an ideal situation may never arise . Even if one decides to take a plunge on a stock , one has to decide  the time to enter , how long to hold and when to exit  . Market would be a collective  reflection of greed , worry and fear  all the traders put together and constantly changing .  A new trader would be a lost kid  . The book  explains  the need of planning , art of chart reading  and  playing the mind game intelligently  to beat the market  .  Chart reading and various indicators are explained with lots of charts and examples .  The book tries to demystify the  mystery of  entry point ,  holding  period and  exit at the right time .   If the trade is planned well with  mental preparation for making money or losing it , the trader will not have heartburn or euphoria at the end and he would be ready for his next adventure . Book explains the need for planning &  maintaining journals for each trade . ​Maintaining journals  will help the trader to look back and identify where he went wrong and how he can learn from the mistake .  The authors explain simple ways of tracking a trader's trade which is learning abcd of the profession . For most of the advisers , LOSS is a four letter word and never uttered before their prospective clients . They only show the winning trades  to lure the prospective clients with a promised " Guaranteed Returns " . But in reality , most of the traders would be talking only on their losses . In fact ,  losses are the stepping stones for success . Once my candidature for a Trader's post was rejected as the losses I had made in the existing position were meager  . But large uncontrolled losses  may cripple  us from trading . Hence the losses we make must be affordable so that we can continue with our business of trading . To make our losses affordable , we have two tools . one is STOPLOSS . The other is " sizing of the Trade "  .  Both the tools are given fair treatment in the book .  The interviews , at the end of the book , contain glimpses of losing trades  star traders have made in their career .  For becoming a professional trader , one should have mental state of a professional  . Traders must be open minded and ready to see the facts  without mental blocks created by them for or against any sector / stock . There is chapter dedicated towards attitude management .   The only deficiency I saw in the book is the absence of a chapter relating  to understanding  the basic financials of the company related to a stock  . Trader of any item should know some thing about the item he is going to buy or sell .  So is the case of a stock trader . He should have basic knowledge of the financials of the company apart from its products / services and management .  It will help in choosing the right stock for trading and he can use technicals further to decide on the trade . Fundamental knowledge about the going-on in a company will help  one to understand the whys of the charts he is reading  .  Total disregard for fundamentals will not help a trader in long run . Hence we suggest to add a chapter on Basic financial Reading  . Overall  the book caters to the basic needs for new entrants  by giving them the glimpses of things they should know , learn and adopt to become a successful trader  . The book is written in simple understandable language without much technical words thrown in .    Book is a capsule course for the entrants  and  we recommend them to read as first lesson before entering the market .  They can build their base of education later on . ​​​
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