The best way to recover a loss is to forget about it and start afresh, or put a stoploss to trading itself. When you look at market in terms of recovering what you have already lost, you invariably become more aggressive, hence taking greater risks of losing. So it might even be wise to take a break from trading for a while.
To win while trading, you need to have an edge over others. Technical, fundamental, quant, or whatever suits you. But if you approach it as a casino and trade randomly on gut, you will either have to be extremely gifted or lucky to make money.
I had blown up close to Rs 5lk in 2001, which was huge for someone like me. Looking back, the reason I ended up blowing it all, was because I was trying to recover my losses. I was betting more, as my account balance kept getting smaller. I think, even if I had more then, I would have lost it all .
Take a break, read up on markets, and then decide if this is what you really want to do (without keeping the losses already incurred in mind). Like in any business, the chances of being a hit is quite small while trading.
I i started trading with one share but used to be too casual and did not focus much because all i had in my mind WHAT AM I GOING TO LOOSE AT THE END ? that was very stupid approach. Then i decided to buy stock worth 10000 inr every day and then i become some what serious in trading out of which i lost 4000 inr …lol lol …so i have decided not to be stupid any more with money and and again go back to trading 1 share everyday till i do not fine right strategy but this time i will be serious with even buying and selling 1 share .
i lost most of my money in Option Trade. which i recover by not trade in Options and bringing discipline in my trade. i make daily target of profit and after earn specific amount i close the terminal. i diversify my trading income in four parts. Long Term (holding shares for more than 1year), Intra in NFO(only nifty future), Intra in CDS and income from MCX (positional and intra) i recover 50% of my loss in just 1 year. if i keep discipline in my trade i’ll recover all my loss in next 5-6 months…
I lost lakhssssss I did so many blunderssssss… So guys…as per my experience before you start trading
you decide the amount of loss after which you have to stop atleast temporarilyy… take time before
you start again…
Whatever you said is quite right…last year I have also lost around 2.3 lakhs which I were my hard earned money…the more I try to rocover my losses more I lost.
Intraday technique that I am using today is making me money around 10-15 k every month but its a full time job…I am in CA final and I have to study for at least 2 years in order to become qualified CA.
I am under great confusion whether to continue with my trading or study to become CA as I am unable to do both of them together.
Sir I want your honest suggession what should I do?? I always fear that if I take break for 2 years I might forget what I have learnt so far in stock market or when I come back, sharemarket would be lot different ( like changed lot size, changed intraday margins…etc) plz tel me is it possible for me to come back to sharemarket again if I take break for 2 years??