this is just my personal experience..........
i have done both trading and betting.... and just like others have lost tonnes of my hard earned money.
It is better to be a investor. Research good companies and invest .... May be you may fail but not lose so much . May be returns will be less like 15% pa or sometimes lucky may be greater.... or sometimes unlucky you may be in loss.
But you don't need to continuously monitor the market status and you have lot of peace of mind.... Actually we are all seeking money to have this . So we should not lose it to seek money.
But any way our greedy mind still wants everything to happen immediately . We are not patient to wait. So in case you choose trading or betting, then as per my experience if you trade you can win ... This holds true for betting also
My rules for trading
1. Drop your ego ... That you cannot be wrong.
2.Drop your emotions... Do not have any kind of attachment with your decisions.
3.Trade or bet only 5% of your money for one of your trades or bets. And be ready to lose it ....
4. Choose a risk reward ratio of atleast one ... Means only if you are dead sure based upon any tools or ideas that your trade will succeed .. Go for it .
So wait for that opportune moment though u will have an urge to trade at everything you look on screen.
Risl Reward should be ...You should Gain atleast Rs.1000 and you should be ready to lose only Rs.1000 for that trade you have done.
5. You should not have any emotion or attachment and that your trade will bounce back... Mainly do not average .... Finish the trade on either loss or win.
6.Then enter your next trade only with 100% conviction without any doubts and follow rule No.3 to No.5
7. Even if you lose 4 trades and win 5 trades you will be in profit
or win 3 trades you will be in small loss.
Happy trading or betting