Couldn’t agree more, and I think RJ was talking about Buffett.
You have to pay taxes if trading in nse.NRIs pays taxes whatever income they earn in india.
Also, i didn’t get remote work doesn’t means you avoid paying taxes,if salary is credited in US. They must be freelancers you talking about getting paid in other countries?
Freelancers but most of are contractors Dev’s, analyst, ux designer , backend devs and even scrum master & BA’s too. Bali was quite famous for this even including Thailand. And life is good too albeit for a bachelor. I mean currency is weak so good quality of life.
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Didn’t any of your sold stock call went in the money in these 3 years ?
Can you elaborate what you want to say here ? It is not possible for any person whether he is an NRI or Freelancer. ‘Money earned in India (on NSE) is taxable in India’
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Can you summerise it from yourside a little bit as what perspective you get through this book in your trading? That would be very helpful!
I make adjustment by moving it to next month at a slightly higher level. Or sometimes I sell futures, wait for that dip for few days and then switch back to selling call. HUL in specific I didn’t want to make adjustment. I am still selling 2500 call. So it’s still in the money. If it comes below then I willl move my call higher. Or else it’s fine after few months I will give delivery.
I realised that a rule based objective method of trading as described in the pdf aligned well with my temperament. Such a system clearly defines the following before a trade is placed
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When to Buy and Sell ?
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What to Buy and Sell ?
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What market to trade in ?
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What quantity to be traded ?
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How much capital should be there in trading account ?
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When to roll over in case of F&O trading ?
Also any system or set of rules must be easy to follow which can be done day in day out among all that life throws at me.
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I ld kill you for those numbers.
Are you pure discretionary?
Can you breakdown sm things?
Power position?
Wow don’t kill, he is valuable member of the community. Calm your horses down.
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Has a different practical angle. Anyone who intently listens to the audiobook will have a few aha moments.
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Yeah their journey during and even after this experiment is very interesting.
Having read through this thread with an arresting header… 3%/30%/300% Ambani -et al being relative and subjective, talk about acquiring the means (Money). Trading with 1K, 10K, 10L, 1Crore, 1L Crore are all unique situations.
The actual AHA could be in its utility… how its spent and knowing
A rich person just accumulating wealth without using it to generate a +ve feedback(for himself … but a trickle down effect), could be counting his/her days for gen-next to blow it all up!
(Ask the many politicians looting public money and see it disappear at the hands of their kids)
A process should be given its due only for its overall efficiency, considering material input and output, circumstance input and output.
Almost every trade is unique. Anything which is a copy gets worked out by nature (ask the PhD’s arguing on the efficient market hypothesis).
My AHA…would be… for my 2 meals on a normal day and few basic necessities, if I can get in, make that much (say rupees 15,000-20,000 on a capital of 30lakhs) for the month earn not a penny less, not a penny more!
**For nature, it always works towards a point where a monkey playing with 2 buy/sell buttons earns an exact equal amount to that from a learned/PhD with all the information/material advantage . An AHA moment ?!
(timelines can also be seen ironed out: Monkey enjoys its play and has a short life span… for a learned, the emotional journey its effects/side-effects even with a longer life equalizes it)
My aha moment is when i saw that there is correction in between each and every trend.
Initially, i started capturing correction instead of trend (uptrend/downtrend) (may seem a very simple and obvious thing to you, but simple things are those things, in which, we never pay attention, and tell me, intelligence always lies in making complicated things simple or simple things complicated). I started marking those areas where correction lies by a small rectangular box. It gave me a new perspective and clarity to chart.
There is always a correction b/w each and every trend. So my whole focus went to corrections. It helps you to enter and exit at right time and location with good risk and reward ratio.
This is the behaviour of market, it runs between the cycles of expansion and consolidation.
Better you catch corrections. Trend is like cheese in between the 2 slice of bread. If you know the correction, you know the starting and ending of trend!!!