doesn’t really matter if he loss 10 or 6. It’s his story. We all have our own fair share of story. The things that we promise to do & don’t do. Sounds familiar! that’s trading.
Hey @Vikii , thanks for sharing your story. We have all been bitten some way or the other.
We all have demons that we fight in trading & outside of trading.
Well not exactly got very panic and hope killed me.hope extra leverage greed n yes thinking I will recover loss made more losses…n yes due very bad risk reward ratio 5 percent of trade responsible for all loss. Should have taken loss quickly n avoided averaging too much
Thanks. I and other who are making loss or trying to enter mkt should learn from it.
Mkt is not easy.
Avoid averaging n using extra margin.
Stoploss n taking loss quickly is imp.
1 day can ruined profit of all year
In selling profit is limited but losses can be unlimited.
One should use only extra money for trading.
For year or 2 or may be more use small capital …
Do not loose more than 1-3 percent capital in day.
Paper trade for few months.
You are not wrong but main issue was I m afraid to take loss Friday was quite bad day did many mistakes including simple maths hopefully I won’t n everyone should avoid that
Great brother. Actually if I follow some similar rules atleast for few months it will help me to learn and also avoid loosing much.
Need to learn from.mistakes.
And yes for many successful people in trading I have seen that they do not expect big.
But one who loose everything expect 50 percent in month. Or two like me
Will avoid greed, extra margin, booking loss quickly. Thnx
@Celina let me make it clear. I have no FandO transactions at all.
In cash equity I lost total Rs 50k in yes bank and indiabulls housing that too not in trading but investing. In recent bull run I made up that loss as well.
My entire view in retailers trading is based on my inferences. I will keep warning retailers to avoid trading.
@ksksat The only COVID-19 IN THIS FORUS IS YOU (@ksksat) Because each and everywhere i see is negative comments, discouraging & pure shit.
If you can’t fly or even walk, don’t do so. but don’t write shit. You can just give your opinions but don’t be judgmental. I always seen your attitude around here is pure negative.
Trading like investing needs one to make “informed” decision. If you indulge into a stock mindlessly no matter the term of holding it, its gambling. Anyways those who think of trading as get rich quick scheme they get taught by market, those who do make “more” money, its simply so cause they are risking in that proportion… If someones roi is more it doesnt mean they printing money, they simply are risking more per trade! Its not gambling.
Otherwise using technical analysis to make a decision is not any less of a gambling than investing in a stock and waiting for the price to go up as you never know if the company will keep performing. Everything is a gambling in life for that matter as nothing is certain.
@Gautam there is a basic thing that u have not mentioned.
My theory is the moment i put money in a stock no matter how blue chip company it is one must mentally write off that. One should never worry about daily price movements. He must fix a certain return and if that is achieved he may take profit or can hold for fixed number of years but one must invest only the excess money that he can afford to lose.
Trading is not like that. It is speculation on daily or weekly basis. Market is designed in such a way that operators fii dii exchange prop desk broker nexus is against we retailers when it comes to trading. They run this casino to make innocent retailers lose money
Its not luck or coincidence that retail traders lose money. All ur trading data and where u keep stop loss is known to big sharks. In one artificial wave they will consume majority of retailers SLs and trade will again start moving in ur direction after getting knocked out off position
In bloomberquint there is one certain paid service for example. If u enter that paid zone it is like all secret dealing room data is available in advance to take positions
Reliance securities dealers got caught a month back in front running
Two years back artificial unusual positions were taken in infosys before the bad news and when company went down.
All this are because the dealing rooms company insiders fund managers all know all the key market information
Without knowing these privileged information it is futile to fight with markets
Well…after such big loss I can’t say anything but only thing which I did not manage in option selling is risk. If I had done that I would have recovered 30 percent of loss …n my loss would have been 4l instead of 10.
DM me!
I must warn you. Trading/Investing is not easy.
Recovery is always boring and painful.
It takes seconds to fracture a leg, but weeks to mend it.
Main issue traders face is emotions - Greed, Fear, FoMo, Reluctance, expectations and boredom.
Months and weeks will go by when you will have earned ZERO.
Preserving capital is more important than, earning.
Need tremendous hard work - even day-night.
This is not monthly income plan but wealth generating plan.
Just like in cloths store 10 months of the year are dull and whole years business is to be done mostly in festive season. Same with trading.
My work discussing with you will end in 15 mins and 2 pages worth of writing.
Then you will have to continuously follow up and do all the hard work.
See luck if I had same position today profit would have been 2.7 l or if I had taken position in morning which I was going to but did not due to fear I would have recovered all loss today only.
But important thing is it was needed to apply SL on Friday n if I had taken position today I should have applied trailing stoploss.
It is important to cut ur losses quickly n keep ur profit increasing