Mumbai-based housewife turned stock trader shares her success mantra

Fifteen years later, Mukta Dhamankar, the middle-aged mother of two, has hit home runs with her disciplined, tolerant and diligent business acumen and investment decisions. A trained nutritionist and former UNICEF research assistant acted on her instincts after literally ‘navigating’ through eight years of marriage to her naval officer husband.

During the early days of her marriage, Dhamankar accompanied her husband in exploring the world. Things changed after she became a mother. Dhamankar decided to become an entrepreneur. It was her maternity period and qualification that pushed her to start a baby food business.

However, after running the operation for three years, she found her true calling. An avid reader of economic dailies, she then plunged into the tumultuous world of the stock market.

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

“I felt the need to learn all of these concepts, and I thought it would be the best thing to do because I don’t have to travel and I can be home, take care of my family and see my children grow up under my care,” said Dhamankar.

However, she vaguely knew about the stock market. “My dad used to occasionally invest in blue chip stocks, but becoming a full-fledged trader was a whole new experience,” says Dhamankar.

“When my kids go to school, I use those 5-6 hours for trading and the nights are spent researching. I take at least 40 minutes, after my kids go to sleep, to read global economic affairs and Indian and corporate news to stay up to speed”.

She also acknowledges the emotional support and trust that her in-laws and husband continue to have in her.

Sharing his early experiences in trading, Dhamankar says it took at least a year or two to put together a full synopsis of the stock market. “Initially, I had set myself a very small goal because it was new for me and my family. And making a regular income from trading was also new for us. So, I was not ready to take a risk with a big sum. I started trading with small targets like 2,000 to 3,000. In the beginning, if I did 5,000 a day, I used to close the terminal”.

At present, Dhamankar says she is able to make a decent profit on her capital.

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

She advises that patience and discipline are definitely two major factors one needs to have to go public.

Dhamankar is not only fully immersed in trading, she also believes in expanding her wealth by investing in mutual funds through Systematic Investment Planning (SIP), government bonds, properties, the gold trading and government schemes like the National Pension Scheme (NPS). Additionally, it selects stocks for long-term investment by comparing the relative strength of scrips and sectors.

“In every sector, there will be an outperformer and an underperformer. An outperformer will rise when the index goes up and an underperformer will do well when the index goes down. You have to be in the right scrip at the right time,” Mukta adds. Dhamankar who managed to take his family on a self-funded holiday to South Africa in 2019.

Dhamankar is now passing on his long scholarship experience to his children. “In India, financial literacy is very limited. Therefore, I chose to educate them in my own way. I taught them the derivatives segment, commodities. My children are also curious. Whenever I trade, they try to sit next to me and learn about candlesticks, moving averages, dot and number charts, etc,” the proud mother of two says.

In addition, she also plans to share her stock market expertise with those who want to learn. “If people are really interested in learning, I would love to teach them. It takes patience and discipline to learn these concepts. I can help people learn the stock market in Marathi, Hindi and English.” adds Dhamankar.

“The journey to understanding the stock market was a gradual process. I had too many irons in the fire, raising my kids and taking care of my family on the one hand, and dealing with bull and bear on the other. However, I am still trying to find the perfect balance, but somehow I have managed to navigate my ship for all these years,” jokes Dhamankar as she prepares to cross the recent stock market upside run.

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