My Journey into Silver Futures Trading: A Family Affair
Trading wasn’t always a family affair in our household. It all started a few years ago when I decided to introduce the world of financial markets to my son, Albert.
At that time, we were mainly engaged in stock trading, particularly intraday trading, as it allowed us to capitalize on short-term market fluctuations.
I handed Albert Rs 10,000 as a starting capital, urging him to use it for trading practice. His initial enthusiasm led to a month of intense trading, but unfortunately, he depleted the entire capital.
“My intuition is not working. The market always moves against my thoughts” he said one evening.
“You always say you have the ability to see future events. This is the best testing ground. Try to trade against your thoughts, if the market moves against your thought”- I suggested.
“I did it already. No way. The share market is beyond our control and thoughts”- Albert said with a bit of disappointment.
It was a tough lesson for him. He had initially been inspired to try his hand at trading by one of his college friends.
The disappointment didn’t deter us, though. Shortly after, my daughter, Angelina, who was then in the 9th grade, decided to step into the world of trading.
She too received Rs 10,000 from me and she started trading with her mother’s trading Account.
She approached trading with more caution and determination, but after a month, her capital had dwindled by half. It was clear that intraday trading, without any prior training or experience, wasn’t the way to go.
The only guidance she had was from a few YouTube videos she watched, offering insights into the intricacies of intraday trading.
I wasn’t disheartened by the initial losses. Instead, I saw this as an opportunity to learn the stock market functions for my children.
However, it was evident that a change in strategy was needed. Acknowledging this reality, Albert decided to shift to a new strategy — swing trading. This approach offered more time for trading, eliminating the rush to close positions within a single trading day.
Surprisingly, it started to yield profits. Angelina, inspired by her brother’s success, followed suit. Her school vacation became a significant turning point. With ample capital and newfound knowledge, she became a more aggressive trader, consistently generating profits on a daily basis.
Her journey was not without its challenges. However, She made a profit of more than Rs 10,000 with a capital of less than Rs 30,000. She handed over the profit and capital to her brother, Albert.
Angelina had to leave for Navodaya boarding school, where trading became impossible. With her departure, we decided to explore new horizons and shifted our focus to the silver commodity futures market. There were specific reasons behind this decision.
The stock market’s trading hours didn’t align with our day jobs, making it challenging to actively participate. In contrast, the MCX allowed us to trade silver from 9 a.m. to 11.30 p.m., giving us the flexibility, we needed.
We found silver trading to be dynamic and affordable. Most importantly, it consistently brought us profits. To streamline our family’s trading experience, we created a WhatsApp group where we shared our trading insights and profits.
The rule was simple: whoever made a profit contributed 20% towards family expenses. This not only encouraged collaboration but also strengthened our family bonds.
As our journey in the silver futures market continued, we learned valuable lessons about resilience and adaptability. Albert, who had once been disheartened by his earlier failures, found new hope in Silver trading. The family’s collective experiences have transformed our financial status and brought us closer as a family.
Today(11 Oct 2023 ), I have generated Rs 4,000 plus in profit from Rs 70,000 capital. I eagerly anticipate the next day’s trading adventures. Our journey has shown us that with the right strategy, mindset, and a little bit of determination, success can be achieved, even in the ever-changing and unpredictable world of trading.
The most remarkable aspect of our journey is how it has strengthened our family bonds. Our collective experiences have shaped us into a team, ready to face the challenges of the trading world and celebrate our successes together.
So, stay tuned for our next exciting silver trading adventure — who knows what tomorrow will bring!
