So what’s yours final decision? @Vikii
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Going to take break will concentrate on learning…will go through trades and check what went wrong and what not.
Will do some mock trading then trading with small quantity and then will start trading
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You may try paper trading interface of Tradingview (manual orders, options not possible) or Dhan (manual / automated orders, options possible) until you find a strategy that works for you.
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Absolutely right friend i was just gambling truly saying i lost control not once but many time but it recently it had affected very badly should have thought about this much before and should not have use all money in market. Feel like complete idiot will takeong time to come out of this but need to work what went wrong and how I can improve things
Unfortunately, if you are not inherently lucky in the game of chances, no amount of effort is going to help you with this.
The sensible option would be to quit completely, but then again if your own intelligence is working against you, it is not going to be easy to quit either.
@scpulse if you talk about luck then i can say i sold trade in x loss and next day it would have given 5x profit.
And it seems same thing is going to happen today.
Yes so luckwise i am very unfortunate and yeah trading not gone do anything for now taking break.
It is a game of probabilities, not a game of chances.
With understanding, plan, stop loss, one becomes experienced and he can improve himself, he can get better. Luck does exist, but luck is not the only thing that decides the outcome. Even Buffett said he was lucky at the ovarian lottery, to have been born as a white male, in 1930s, in US. Lynch said an average person can also pick good stocks. But no one said luck is the only thing needed, this is not lottery, where you buy a ticket and have no idea what happens next. Even in pure gambling, there is skill along with luck. There will be some who are very lucky, they have Midas touch, but they are very few.
I am an outsider to financial markets, I have got lucky on a few occasions, and the other times when I made profit, it was not luck alone, it was my effort too. A couple of bets more profitable than I imagined, this extra profit is luck, but I did not choose those stocks blindly, I understood them and took the bets.
So yes luck exists, I don’t deny that, but an investor’s or trader’s life does not depend on luck alone.
@Vikii made a mistake, and he wants to correct it, and he did not have a plan, no stop loss in place, emotions took control, so big loss.
Guess you have got more than required suggestions/advice in this thread. better to stop this here else you will get more mental pressure. whenever and what ever ideas,doubts you wanted to clarify wrt markets you can start a new thread and experienced traders be happy to help you.
brother take care of ur health first of all
second take a break , dont be in a hurry to come back in the market
just first analyze ur pyschology (ur thought pattern, decision making) and then analyze market from a fresh perspective …
It is the dark nights only which brings brighter morning…
Nothing to worry just go one step at a time …
all the best bro…
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@a_r1 thanks friend yes I completely agree more than trades were correct or not the way i trading psychology, behaviour , panic trading were main issues…need to overcome these aspect first and it does not only affect trading but all other aspect in life as well…need to rethink change behaviour and go slow…need to make few rules as habit for myself…
thnx
I would like ask about few things about your Trade
I want to analyse some things in order to know about you and your Trading.
In the above conversations, you said you trade bank nifty options in intraday or weekly contracts .And you do both buy and sell contracts.
1)Do you use mobile Trading Application to execute all your Trades because you are working Full time Job or something.
2)Due you thought about shifting to other segments like Equity delivery which gives you flexibility and time to minimize your losses.
Here are some suggestions by me,choose any choices you like or not
1)Trade in Equity segments only,choose Stocks in Nifty 50 index only,portfolio Diversification like splitting capital into 30%:30%:30% for investing and 10 % in idile cash in Trading Account.
2)Trade in Options segment,choose Nifty 50 index which is more diversified portfolio when compared with bank nifty.Naked call or puts have 33% only chance of success. So,use some Strategy in order to increase your probability of success. Mostly be an option buyer (limited loss).leave 10 % of capital unused ,so you can use it as comeback if your Trading capital gets zeroed.
If you are not comfortable with stop loss,then use neutral strategy like straddle, strangle,.etc.
Always buy contracts with 2 weeks time to expiry and exit the trade within 1 or 2 days .Dont wait for the Expiration day.Because options contracts always lose most of their values in last week.Take consistent profits and take 10 or 20 points from LTP to close the Trade.
Most important at all ,calculate Taxes,brokerage and other costs before exiting the trade.
3)mutual Funds investing, SIP or Lumpsum Investment in Good Mutual Fund companies.
4)invest in Government bonds or private bonds to get 9 to 12 % returns per annum with some Risks.
5)Invest in Gold coins ,buy Virtual Gold like post office Gold Savings Scheme.
6)Never comeback to Trading.If you can’t, do it as hobby.
Use small Capital like 50 k
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When you apply probability, the result is mediocre returns ( a little more returns than your regular bank fd ) , to make life changing returns ( returns that can impact the lives around you ) you will need more than probability and statistics.
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By probability I don’t mean the mathematical concept. I mean practicality. The odds of winning increases, if one acquires knowledge, experience, and has discipline w.r.t stop loss, having a system in place. Of course one has to check if the result is worth the effort or not.
I admit that luck plays its role, but there is not only one role, there are many. Just like in investing, in trading too, one can get better with active participation with a plan. I got lucky on a couple of occasions, and I got profit in accordance with my plan. So a plan has to be there, which should should get better as time progresses, and if luck also happens, then you get surprising returns.
Know that in any trade one can go wrong. There is no 100% accurate strategy over a fair number of trades. So never go all in on one trade. Trade with a plan risking a small amount of capital per trade. Position size should be such that capital deployed can absorb the max trade and max strategy drawdowns comfortably.
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Can you explain this with numbers?
Numbers depend on the strategy deployed. I code and backtest strategies to generate these numbers.
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Nonsense … Edges are probabilistic, that’s how market works. And i am making much more than fd returns and i know some others who do as well.
ofc you wont get triple digit kind of returns in long term compounding. So if that’s needed to change life, better make more money outside. Compounding is where the magic is …
Perhaps only other way out is scams like insider trading, front running …
I know this was not addressed to me but - there is nothing complicated about it.
- You must know what your worst historical DD is. Lets says its 20% with 1% risk per trade - so you lost 20% of equity from top.
- You want to restrict DD to 10% of portfolio. So 1% risk per trade is too much, instead use 0.5%.
Similarly you can look at max day dd etc and set risk limits to manage all of that.
Returns must always be seen in context of risk, and best risk measure for me is max DD. But also accept that past max DD is just a number from a much smaller sample size of few bad phases - future DD is almost always worse, also due to optimization issues. So better be conservative and give some room for more.
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99% reason of my loss is high position sizing and never close trade in small loss if i had followed one rule of closing trade in small loss i would not have loss my savings.
i was gambling on hope getting lotter had better chance than some of my trades. 
Risk management is major important thing and i failed to follow that only
Life savings are not meant to be put in derivates. I don’t even put all my life savings in Equity Mutual Funds.
If your life saving is 40 lac, do not start with a “total capital for option buying” more than 2 lac. And from that you should have a position size of 20-30k per trade. Once you have a successful option buying strategy, your capital can compound pretty fast.
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