I did only futures 80% loss is in crude oil and most of the time when a position went wrong I tried to recover it immediately taking big positions which sometimes worked but resulted ultimetly in loss. Lack of discipline is the main cause of my losses.
Boss, I was not here to loss money I also tried like others to gain something out it and soon started trying to recover the lost amount and ultimetly resulted in such a huge loss.
Just think about how much money you would’ve had if you have put it in a mutual fund or a simple FD. You could’ve saved all the money just by doing nothing.
@Shivkumar_Pasi Just one very simple question?
1. What’s your source of income???
May be he has taken some personal loan.
Then it’s even more stupid.
Some was out of asset sold money and than later borrowed money to recover and I don’t know what to do and how do I get it back
It takes a lot of guts to come on the top of mountain and shout for help. Bravo.
I would recommend going for a break, knowing yourself better and start by gaining more knowledge. Precisely this quote -
Billionaire investor Warren Buffett says the very best investment you can make is one that “you can’t beat,” can’t be taxed and not even inflation can take away from you. “Ultimately, there’s one investment that supersedes all others: Invest in yourself,” Buffett says in a recent interview with Forbes.Oct 4, 2017
You should read this book - Fooled By Randomness
Will give you some perspective …
And I am really sorry for your loss and I hope you recover it - one way or the other.
if you traded only crude oil , there is a mini contract and you can easily manage your risk and trade sizes well within your margins.
Lack of discipline is not the cause for your losses, but improper position sizing.
Apart from improper risk management, did you do any research on crude oil?.
we are bullish on equity , so if you took only long trades on crude, there is no way you would have lost so much money.
Another reason you should be very very careful when trading commodities, is commodities are generally range bound unlike equity. so you must time them correctly. Never short them unless we are in a recession.
I could go on and on as to why you lost money, but lack of discipline is NOT the main cause of your losses.
Could I be shown the trade book or a copy of the trades ?
Sir, trade book is too large to share it here.
Thanx for detailed reply sir.
As of now i have stopped the trading and as suggested by some traders taking a break from trading for 1-2 months and will think on it if i should be trading again or quit completely. Tried to generate this as a secondary source of income but continously failed so far. If you guys think that I should restart with small capital and small size please provide some good techniques to start slowly slowly again.
Can it be e mailed firstname.lastname@example.org
Actually, I would also like to have a copy - email@example.com
I am building a risk management system and its early days but the idea is to help you figure out- what went wrong and detect such behaviour early on.
Fyi … only if you are OK.
Have mailed it to both of you kindly look into it and guide. I feel like I can’t quit after losing such a big amount.
Sent it to you.
Received. Will go through overnight and get back … on PM. Thanks.
how cruel it is…