The Journey of Abhishek Kar :From Ordinary to Extraordinary in the Stock Market
Abhisket Kar is famous Indian personality who is Trader, Investor, Mentor and Social Media Influencer. By his YouTube channel, he reached to millions of people, providing Stock market information in very simple, understandable language. Abhishek Kar's journey into the world of finance and trading began in the bustling streets of Odisha, where he was born into a middle-class family in 1980. His father, a dedicated government school teacher, instilled in him the values of hard work and perseverance from an early age. Despite his the modest means, Abhishek's thirst for knowledge and ambition knew no bounds. After completing his B.Com. degree, he set his sights on higher education, enrolling in an MBA program to further his understanding of the business world.
The Spark of Inspiration:
During his college days, Abhishek stumbled upon a project that would alter the course of his life forever. Focused on the legendary investor Warren Buffett, the project ignited a passion for the stock market within him. Curious about how individuals could consistently profit from stock market investments, Abhishek delved deeper into the world of finance, devouring books and attending seminars to expand his knowledge. Then he opened a new demat account and started trading with only 600 rupees.
The Early Struggles:
Armed with enthusiasm and a thirst for success, Abhishek ventured into trading with high hopes but soon encountered the harsh realities of the market. For 2.5 years, he grappled with losses, navigating the unpredictable waters of stock trading without the necessary expertise or guidance. Undeterred by setbacks, Abhishek viewed each loss as a valuable lesson, determined to emerge stronger and more resilient.
" Biography/ Journey of YouTuber Abhishek Kar"
The Turning Point:
As Abhishek continued to persevere, his dedication began to yield results. Over the next two years, he refined his trading strategies, gradually transitioning from losses to modest profits. Throughout his journey, he emptied his trading account a total of six times, despite having only a modest sum of ₹30,000 to ₹40,000 each time. Remarkably, even after clearing his account six times, he managed to bounce back. This was possible because he had been trading with smaller amounts, demonstrating his resilience and determination.
The Path to Success:
Abhishek Kar's journey offers invaluable insights for aspiring traders:
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Learn from Books:
Immerse
yourself in literature on trading, absorbing insights from renowned authors and
experts in the field. Initially, reading books which gives you, well developed
psychology and mindset. He also suggest some well-known books like Common
Stocks and Uncomman profit, One Upon All The Wall Street, The Intelligent
Investor, Encyclopedia of Chart Patterns, Japanese Candle Stick Charting
Techniques. Etc.
v
Choose a Mentor:
Seek guidance from experienced traders who can
provide personalized mentorship and invaluable insights tailored to your unique
circumstances. Selecting a mentor is indeed a wise decision, and once chosen,
it's crucial to begin learning from them and continually correcting mistakes
along the way to aid in becoming a successful trader.
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Start Small:
Initiate
your trading journey with a modest amount of capital, allowing you to gain
valuable experience and mitigate risks without undue financial strain.
Trading with
limited funds can help reduce the fear of losing those funds and enable you to
learn trading more effectively. Engaging in trading with limited funds also
assists in controlling your emotions and psychology, which are essential for
becoming a successful trader.
In the beginning, it is advisable
to focus solely on equity trading for a year. Only if you achieve profitability
should you consider venturing into futures and options, as they involve higher
risks. Therefore, it's crucial to gain a thorough understanding before delving
into futures and options trading.
v
Build Your System:
Develop a systematic approach to trading, incorporating proven strategies, risk management techniques, and continuous self-assessment to refine your skills and improve your performance over time. You should engage in regular trading and reflect on the lessons learned and mistakes made at the end of each day, documenting them in a diary. Your trading system will help you progress and become a successful trader. His net worth is around 50 Cr and earning roughly 50 Lakh - 1 Cr per month. On his Abhiskek Kar YouTube channel having more than 12 Lakhs subscribers.
Key Takeaways from Abhishek Kar:
- v
Trade for a living but maintain a balanced
approach to life, prioritizing mental well-being and personal fulfillment.
v Allocate a portion of your profits for long-term investment, ensuring financial stability and future growth.
- v Cultivate
essential qualities such as patience, perseverance, and humility, recognizing
that success in trading is a journey marked by both triumphs and setbacks.
v Share your knowledge and experiences with others, contributing to the growth and development of the trading community while leaving a positive impact on those around you.
Abhishek
Kar's remarkable journey serves as a testament to the transformative power of
perseverance, determination, and continuous learning in the pursuit of success.
By embracing challenges, learning from failures, and staying true to his
principles, Abhishek not only achieved success in the stock market but also
inspired countless individuals to embark on their own journeys of
self-discovery and financial empowerment. Aspiring traders can draw valuable
lessons from Abhishek's experiences, charting their paths to success with
confidence, resilience, and unwavering determination.
