Loss recovery in options buying

Nifty & Bank Nifty discussions
41

The thing about listening is like this.

There is a method that you do. Then there is a guy that make some sense to what you are doing. You make a tweak here and there in your method.

That’s the technical part.

But i like most psychology aspect of their lives. This applies the same for everyone.

But following everyone will never make sense. I just pick what seems golden. I don’t vouch for anyone either. Cuz i personally don’t know them.

So, i listen. And don’t watch. I listen to what they have to say, and what makes sense to me.

42

for that same reason never trusted jack schwager, Mark Douglas, Van tharp, Mark Minervini, Al Brook etc etc

43

it’s actually true

44

If you like that, you will also like “Better System Trader” channel. I find it a bit more focused with lesser fluff than “Chat with Traders”. And its all about systematic traders.

2 Likes
45

Because we are different regarding many aspects like intelligence, psychology, emotions etc. So despite the same feed the end result is different.

One has to know himself, know his strengths and limitations, develop edges etc. All of this takes time and we can achieve all of this differently, no one size fits all. Some need sources, some need guidance, some don’t.

This is a journey.

46

it’s an endless loop

47

I just listen when I have to chop wood or dig the garden.

The better way.

1 Like
48

stockbees, that what really helped initially

49

And I when I take a walk or when I am on my bed at night :wink:

2 Likes
50

Like lullaby…

51

Ya. Puts me to sleep real fast :stuck_out_tongue_winking_eye:

1 Like
52

I lost 16 lakhs till date.
Actually earlier without any knowledge I lost 6 lakh in commodities, felt depressed and quit trading for some years but now in few months after learning something profited 2-3 lakhs but not able to control emotions and without stop loss i lost another 10 lakhs. Matter is that I know some of the rules and discipline of trading but couldn’t follow that hence I lost my 5 years saving even my provident fund also now I have 80k left.Now I am dilemma what to do continue trading or quit.
I have job but my expenses increased for my child education.

53

Trading is like doing a business. Unless you have the capital that you can afford to lockin for few years or even loose there is no point in doing this business. Besides 80K will take 6 years to grow to cover your losses even if you grow at Jim Simmons CAGR.