#EP17 What the fuzz psychology is behind investing success?

My check. Praveen could we quickly check your mind to see if it's working? Right. So, hi, I guess. Yes, yes. Yes, yes, yes, we're all doing it. So, I'll quickly use the test. Hello, hello everyone. Thank you so much for joining on another. And if I may be specific, the 17th Wednesday night with us at our very own Fuzz AI Twitter spaces. As the title and the name suggests, we have been doing continuously for 17 straight weeks now. We started this spaces around June, the first week of June. I remember our first guest was the Puck Chenoy, who is the CEO of Capital Mind Mutual Fund. And since then, we have had variety of guests across different sectors. Mostly people who are quite niche and authoritative in their own Twitter domain. Whether it is an IPO market, whether it is momentum marketing, whether it is a venture capitalist, whether it is a mutual fund expert or like today, whether it is someone who has a special way to look at today's topic. And we are today talking about what the Fuzz psychology is behind investing success. And we have Praveen Yadav with us joining us today. He is popularly known as stock market scientist on Twitter. He is an investor, a trader and a mentor with over three like followers on Twitter. He teaches market cycles, sector timing, techno fund, investing and investor psychology. And open agenda regarding how psychology affects all of us, whether it is investors, whether it is traders. And to give a quick background to everyone who has joined new and for the very first time on Twitter spaces. So we are part of Fuzz AI. We are the capital markets intelligence for India. If you ask Fuzz any question on stocks, mutual funds, ETF or even psychology, it will give you answers better than generic elements that are out there today. And who better than stock market scientist to talk about this today. So welcome Praveen. Thank you so much for joining us. I have given a brief introduction but I am sure a lot of people who are there have joined on a late Wednesday night primarily to listen to you. They must already know you. But if you could start off with a quick intro and how you started in this journey would really get the spaces going tonight. Over to you Praveen. So hi. First of all, good evening to everyone. And I hope I would be audit my voice. Yes. Yes. I need to the voice. Yes. Praveen, I think we are just getting silence from you. So maybe you can continue and we can let you know if it's alright. Right. Right. Right. Right. So. So I guess it would be clear now and it's much about my journey. I've started my journey in 2012. Right. And I guess so I was fascinated about the screens stock market. You know, I used to see one of my friend, you know, who was in ICC direct brokerage. So he used to see, you know, these derivatives and equities or everything. You know, so I asked him key, you know, key, what is there in the market and, you know, what is your job? What do you do? So he said, I'm a part of a brokerage and my job is to punch the orders. Right. And help my clients to manage the money as well as in trading. So I simply asked key. You know, what is there in the market for me? So he said key, you have very good understanding of fundamentals. So in case you want to participate in the market, you should be, you know, think yourself as an investor. Right. And if you invest, if you become a good investor over a period of time, he initially mentioned couple of years. Then, then you can do well here. So that was the, that was the, I guess it was in August 2012. I remember the month where I got an interest in the markets. But at that time, I, I didn't open my teammate account. I started reading about the markets, how market works and all. Right. I started reading about the sectors. I started reading about the fundamentals and everything. And I tried to figure out key. How market is working. Correct. And then I guess in 2013, I've, I've opened my teammate account with the help of, you know, again, that particular friend. And he helped me in the initial stages key. When you are researching a company, then how to filter out a company. What he need to avoid and all. But as you know, key irrespective of whatever support you have, right. I considered, I consider myself fortunate to have a friend like him. Right. And I don't want to mention his name. He is in a very, he's working at a, you know, he's working at a very, very big position in a, in a, in a multinational company. I would call it, he is an ex-moody as of today. But he's working in a particular company. I can't mention the name of that company. So he helped me a lot at that time. And he said key. Just see what kind of investor you are because there are various varieties of investors. There is where there is various various styles of investors. So just see what kind of industry you want to be. And what kind of interest you have. So I guess that was a catalyst. And I consider myself fortunate because I got an initial support. But it's irrespective of that. As you know, each and every person has a tendency to take a risk or take an uncirculated risk. Right. So I took a lot of risk in initial years. But all those risks are risk were very, very small. Right. And that was the time period I've started my journey. And for I guess for first for four or five years, I was investor only. I guess after 2016, I turned technical. I tuned into technical also. And since 2019, I turned techno for nine, Mr. as well as trader. So that is my journey and the turning point of my life was. The first turning point was my friend, who introduced me in the market. Second turning point was 2016 17 phase. And the biggest turning point I would say was the COVID. Right. Where I realize key. You know, what kind of skills he need to have, which you're going to talk about here in the space. And what kind of psychology you need to develop to stay in the market for very long. So that was the time. And I guess since then, there's no. I would say. There's no setback. Fortunately, and. As you know, small, all little build setback setbacks are already. Or are always a part of your journey when you are when you are in a stock market. So as of today, it's almost. 14 years in the stock market actively, I was. Wow. Wow. That's great to hear, Praveen. I think 14 years. It's a really, really long time. And I think. Who goes to your friend? I think I remember from my previous conversations in spaces. There's always that catalyst that friend that circle that network, which kind of helps you through through the tough times. And I believe it is one of the most important thing. I guess. Yes. It is like. So anybody who has started investing in last couple of years. So one thing you must know what kind of circle you have. What kind of friends you have. Right. So in my entire entire circle, nobody. I'm talking about my family, family circle. Nobody was in the market. Still nobody's in the market. My entire family circle is completely different. I'm the only person in my entire generation. Oh, right. Across my family, across my family circle. Who has participated in the stock market and who has been participating in the stock market. Right. So it's very difficult. So when when you have a good friend or good circle or good mentor, good coach. So I treat. I treated my friend as a coach or as a mentor as well at that time. The whatever knowledge he had, he told me few good things. He any carna. You and he these are the things you should not do. I always avoid these things, whether it is FN. No trading. Right. That was the first thing he he told me because he was then the then the business for very long. He said he any carna. This is something. This is not for you and this is not for most of the people. So whatever time you're going to invest or whatever time you're investing in derivatives or derivative trading. I would say the same in time if you invest the same time in in your equity research or your trading. Psychology or anything, whatever you want to achieve in stock market. I believe the result will be much, much better than what you achieve in the derivative trading or. You know, you can say the ROI part. Absolutely. And I think just to set the context from the get go, I think we are all here to understand about this topic really deeply. So I think I'll just give you a little bit of a notch in that direction. Praveen. So how like why are we talking about psychology today? Why is it important? And maybe a few goods in your 14 year journey in the markets give a few examples as to how this particular psychology helped you navigate all of the ups and downs of the market itself. So yes, so I guess it's a very, very, very important question and I'm sure many of you would be looking for the answer of this particular question. And the psychology part is important because when we participate in a market, so we need to consider ourselves with a particular designation. So before I say something, I just would like to ask you when you are participating in a market as an investor, right? So investor is you can say it's a category. What kind of designation you have means what you are doing in the market? What is your role in the market? I just want your help to build a thesis so that it can be helpful for most of you. And I believe it is going to change the your psychology for life or your mindset for life. What kind of role you are doing? What is your role in the market? So my role probably I think specifically if you ask me, I have always been a passive observer. I think why I'm saying that is I not only have I never doubled in FNO, but also I rarely, rarely double in active investing as well. So it's always been mutual funds. And even within mutual funds, I think I am someone who likes passive funds. So I follow what I think at least. So if I say that I am a passive observer, then I do mean that. Okay, so before I say something, I would request I urge everyone who is there in the space, please retweet or sorry, repost this space link. So let's go to more people here to participate. And in comment section, I urge all of you, please mention what is your role in the stock market. Is it okay? Any route?