Traders Carnival: There’s Money To Be Made By Being ‘Boring’, Says Deepak Mohoni
Deepak Mohoni, the man who coined the term "Sensex", believes there’s merit in being a “boring trader”.
95 percent of traders don't make money in the markets. “If you want to be in the 5 percent that makes money, you have to do the boring bits -- controlling costs and accepting that profits are unpredictable,” Mohoni told BloombergQuint on the sidelines of the Traders Carnival event in Mumbai.
The real edge that a trader has is to control the losses. The profits are up to random factors that the markets will provide.Deepak Mohoni, Director, Trendwatch India
Also Read: How To Be A Top Trader, By JC Parets
“Thinking there’s easy money to be made in the markets is a mistake that many traders make,” Mohoni added.