In this post, we will be sharing the 13th interview of our popular series, "In The HotSeat". This time we have interviewed Mr. Harsh Goela, a famous investor, stock trader, coach, and TEDx and Josh Talks speaker. He is also the founder of the Goela School of Finance. So, without wasting any more time, let us hear about him in his own words.
1) Tell us something about your education and profession.
- I have studied at DPS Noida. I took commerce in 11th and 12th, as the stock market was my passion. I dropped out of college and signed up for open learning education in DU, B Com. And parallel to the investment work. I did my MBA in Banking and Finance from Symbiosis in Distance Learning Mode.
2) What inspired you to make a career in the stock market?
- I consider myself very lucky because, from my early years, I knew what I had to do. In my school, I felt that I knew about stock markets was my superpower, and we were fortunate that we were not the major bread earners of the family from a very young age, so we were able to do whatever we wanted, and that privilege is enjoyed by a small percentage of the population in India. That is why I decided to pursue my passion.
3) What were the challenges faced by you when you had decided to pursue a career in the stock market? How did you overcome those challenges?
There were two types of challenges I faced. It mainly included social challenges and challenges of understanding stock marketing. When someone chooses a career, he experiences a social dilemma, where the person does not think about what job he will be doing, rather he thinks of how people will be reacting to his job. For the stock market, the dilemma was horrible because people do not seriously consider this career. I would like to share an instance of my life when my father took me to the stock broker’s office. The broker enquired from my father, who I was, to which my father replied that I was his son, and I was interested in making a career in the stock market. The person replied to my father suggesting not to allow my younger brother to work in the stock market, just in case I fail to earn. So, you can see that right from the beginning, the social dilemma of the stock market is very bad. Even the people who are working there choose not to pursue a career. The second challenge, as I mentioned earlier, was the challenge of understanding the stock market, where we people are unaware of what to start with, which book to read, etc. You undeniably have a lot of courses for you, but you seem not to be able to decide, which one would be appropriate for you. You are directionless. So, initially, these were the challenges faced by me.
To overcome the social challenge, I did not have to put in many efforts because I was considered a proclaimed loser by society, as I had not been to a college. Also, I did not have a good reputation in my school, due to which my ego was not affected much. For overcoming the challenge regarding the direction, I kept on meeting investors, traders, and also, I used to spend time with them. I also traveled to various cities like Pune, Mumbai, Hyderabad for the same. I used to travel in the cheapest way possible, because of which I mostly used railways. By doing these, I found my track. Also, I had experimented a lot, and gradually I was able to overcome my challenges.
4) How can one make a career in the stock market, and what are the skills required by him for the same?
- Stock market is a career where there are no barriers. They do not need any qualifications or degrees. All they need is a bank account, above 18 years, an Aadhar Card, and a PAN Card to start trading. So, if anyone wishes to build a career in the stock market, they can easily do so.
For the first six months, he needs to understand the stock market in the best way possible. They should also focus on learning it properly, from very scratch. Most people are found to be losing money on the stock market because they are ready to study for five years to get a job, but at the same time, they are not ready to study for two minutes to analyze a stock. He should surround himself with traders and investors, who are a part of the same community, and he should slowly and steadily proceed.
5) What message would you like to give to your teachers and friends, who once said that you are not capable of doing anything with your life?
- I think I will not say anything to them. I admit that I felt bad. But at the same time, I feel that it was not their fault. If a teacher encounters a student, who is unable to speak and possesses a shy nature, it might be frustrating to him, with all his problems and the problems of the Indian education system, in his head. Speaking of my friends, I would say that pretty undoubtedly, it made me feel bad when they said so. But I guess that is normal. When people are weak, they are always mocked by others, and at that time, I was very weak. Therefore, I guess I would not say anything. I would just open my arms, and say that if anyone needs help in the stock market, they may approach me.
6) What message would you like to share with the students who are interested to make a career in the stock market?
- I would say that when they choose a career, they should not choose the field of the stock market, thinking that you will be earning a lot from it. They should not go for it, because they are not doing good with their studies or their current job. After all, the field stock market is not an escape route. It needs to take it very seriously, it should be learned properly, and the markets should be explored. They should talk to as many traders and investors, as possible, and should have an open mind that is ever ready to try out something new. Finally, go for the one which suits you. Also, if you have chosen to pursue the field of the stock market, choose a specific career, and then go for it.
I hope this interview with Harsh Goela has inspired you to make a full-time career in stock markets. Please share this post as much as possible so that it reaches those students who are serious about making a career in stock markets.