Mumbai housewife turned stock trader shares her credo for success

Fifteen years later, middle-aged mother Mukta Dhamankar hits a home run with discipline, tolerance and diligent trading acumen and investment decisions. A qualified nutritionist and former UNICEF research assistant is acting on her instincts after marrying her naval officer husband for eight years.

During her first few days of marriage, Dhamankar accompanied her husband to explore the world. Things changed when she became a mother. Dhamankar decided to become an entrepreneur. It was her motherhood and qualifications that prompted her to start a baby food company.

However, after three years of operation, she found her true calling. An avid reader of business daily, she then dived into the turbulent world of stock trading.

Mukta Dhamankar is a stock trader who entered the world of the stock market after eight years of marriage.

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Mukta Dhamankar is a stock trader who entered the world of the stock market after eight years of marriage.

“I felt the need to learn all these concepts, and I thought it would be the best thing to do because I wouldn’t have to travel and could be at home and take care of my family and watch my kids grow in my care,” Damankar said .

However, she vaguely knew the stock market. “My father used to invest in blue-chip stocks occasionally, but being a full-fledged trader was a whole new experience,” Damankar said.

“When my kids go to school, I use those 5-6 hours for trading and at night for research. After my kids go to sleep, I take at least 40 minutes to read global and Indian economic affairs and corporate news , to keep up the pace”.

She also acknowledged the continued emotional support and trust her in-laws and husband have in her.

Sharing her early trading experience, Dhamankar said it would take at least a year or two to gather a full stock market profile. “I initially set a very small goal for me because it was new to me and my family. Getting regular income from trading was also new to us. So, I wasn’t ready Take any big risk. I start trading with small targets like rupee2,000 to rupee3,000.At first, if I did rupee5000 a day, I used to close the terminal”.

Now, Dhamankar says she is able to make a decent profit from her capital.

According to her, learning concepts from the internet and implementing them in a live market are two different things. “Managing your emotions and actively trading in the market is a task. Every investor has ups and downs, but I’ve never had a sleepless night on a bad day in the ring.”

Patience and discipline are, of course, two of the main factors one should have to get into the stock market, she suggests.

Not only is Dhamankar fully immersed in trading, she also believes in expanding her wealth by investing in mutual funds through government schemes such as the Systematic Investment Scheme (SIP), government bonds, real estate, gold trading and the National Pension Scheme (NPS). Additionally, she picks stocks for long-term investing by comparing the relative strength of stocks and industries.

“In every industry, there are outperformers and underperformers. When the index goes up, the outperformers go up, and when the index goes down, the underperformers do well. You have to get in at the right time. The right stock,” added Mukta. In 2019, Dhamankar managed to take his family on vacation to South Africa at his own expense.

Dhamankar is now passing on her decade-long stock market experience to her children. “In India, financial literacy is very limited. So I choose to educate them in my own way. I teach them derivatives, commodities. My kids are curious too. Whenever I trade, they try to sit next to me and Learn about candlesticks, moving averages, points and graphs, and more,” said the proud mother of two.

In addition, she plans to share her stock market expertise with those willing to learn. “If people are really interested in learning, I’d love to teach them. Learning these concepts requires patience and discipline. I can help people learn the stock market in Marathi, Hindi and English,” added Damanka.

“The process of learning about the stock market is a gradual one. I have too many hardcores raising kids and caring for my family on the one hand, and managing bull and bear markets on the other. However, I haven’t found the perfect balance yet, but somehow, I’ve managed to steer my boat over the years,” Dhamankar quipped as she braced for the recent turbulent stock market.

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