Take a break …
Yes i am on the break as of now, but it is really painful of thinking how do i get my self prepare abd how do i come back again and recover some to some extent, recovering this entire is unrealistic though can’t get this removed from my mind
Why did the pain started at 19 Lacs?. Why the pain did not start at say 1 or 2 Lacs?
Next time put a 10% stoploss on your margin account. then you won’t be in this situation.
@Shivkumar_Pasi, I understand the pain you are going through. But, the reality is that only you have to come out of it, nobody can help you on it.
SO DO IT NOW.
Good video…but hard to make effective in practical life… otherwise I suggest we can 5000 rs. N play margin intraday trading with small quantities.But one thing is sure…this is addiction n it’s really difficult to come out of this.
Dont give this guy Nitin Bhatia’s videos yaar
He talks over 45 minutes on a topic which can be conveyed in 4.5 minutes
Wow can you elaborate on the IOB case?
I see there is low of 19.80 on that day, and no other day nearby the stock goes below 22
Is it the case of operators noting stop loss and bringing stock down to that point?
best would be quit it…
start from scratch…
like u must have any trading plan or methods…once u have it …do it on live paper trading once u r happy with result…then start from like 1 mini lot…try this for months and keep tunning until u get best result then scale it slowly…btw never do bracket/cover…these r just for stealing fund touching stoploss …avoid intrday methods or if u do then make u sure dont makre trade more than 2 time…becz their is not more than 2 trends per day…hope this helps…
Yes you are absolutely right BO/CO are trap most the times SL was hit and extract from that point market reversed, feels like someone is watching the sl, hit and back to the trend. Did most of the revenge trading in cover order crude mega like 10-20 lots even in 20/30 points end up in losing 60/70k in one day and lost everything I had in my account. Have no way to get out of this pain😥
Actually what is told by so-called experts in markets regarding stop loss is COMPLETELY OPPOSITE
They say dont put stop loss in long term investments. LOL? Apart from top few blue chips, every stock in market can go to ZERO. Investor should always have a threshold, lets say 30%. If stock falls below that threshold, dont average just throw that crap and move on. Buy it again only if it crosses your buy price upwards again.
In intraday, one should NEVER put stop loss. Because operators have all records of your stop loss, why u want to feed operators. I would say better take loss yourself, so that operators dont get gains. Keep trading size small enough that you are okay without putting stop loss.
Lagtha hein, Bhagwan ne thumari baath sun liya hein!!
Exactly my thought. How can the OP just lose that much amount of money. 19 Lacs is around 2 Million. How can a person be so unconscious about this. Even a loss of 1 lacs or 2 lacs could give someone a heart attack. And he just lost 19 lacs. Most people in India would be happy to retire with that much amount in the bank. I think its just plain sad and stupid and only hope that he can recover from this somehow.
Smoking may kill you in 20 years, but trading in futures can kill you the next day http://ecoti.in/w2uwpY by Vijay Kedia
Have you ever tried taking positional trades in Crude? trades lasting from 1 to 4 weeks?
Ofcourse your stop loss orders can be seen… brokers give only too five bids and offers… but the exchange sells the entire depth for a fee… big players can see all the orders… that is why your stop is hit… study the market before entering it and learn to manage risk… you have to become a risk manager and not money printer…
Take a break… do paper trading.
@Newbie420 in the IOB case I had started buying 10000-20000 quantities from 22.50 onwards and my total position had grown to over 3.5 lakh shares, my stop loss was around 22 something and when I saw that there was no movement and volume I started selling my position. Well while I was exiting my position one by one and I had not seen that there was not much volume in the buy side (would have sold around 40-50 thousand) and one of my exit lots hit the stop loss price and that instant all of my orders were sold at market price and boom went the price. Not to mention that pi hanged at that instant and after I restarted it I was sitting on a huge pile of loss. Not to mention the margin mail I got instantly.
I am not a master nor a expert, but I can suppose that you lost such huge capital because you must have done trading as below.
- Traded without a proper Plan. Not followed a process which is objective.
- You have tweaked your trading very often without giving ample time to see how really your current trading system/strategy works.
- No risk management in place. No proper position sizing. This is why loosing more and profits less. In net big loss.
- Not trading what you see but trading what you think. Never ruthless to close when stoploss is hit or trading without stoploss.
Now re-start. Think about those people who will love to see you fail and get motivated. Follow a objective process. Write a plan and never do anything that is not in your plan. Analyse your process (not very often) periodically (monthly/quarterly). Initially till you don’t gain conviction trade only small positions. Small positions will help control anxiety and allow you to follow objective process. Always…always…always be ruthless to close in losing trades when stops are hit.
Finally remember the famous Bruce Lee Quote - “I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times”. This means mastering one process is enough to make the life time fortunes.
All the best.
Making money in real market is far more difficult than it looked in previous charts .
“you have to become a risk manager” - Very well said. Strongly agree.