I have lost lakhs of money doing intraday trading how to recover it…pls tell what should I do…I have taken bank loan and lost.
Please find another source of earnings asap. And keep learning to trade on the side, WITH A SMALL TRADING CAPITAL. It takes couple of years at least before you can say “Yes I know how to trade”. It will take another couple of years before you can say “Yes I am an above average trader”. After which you can recover your losses for sure. The secret to survival is to start small. All the best.
P.S Reviewing you past trading mistakes gives a rocket boost to your talent. I too am still in the process of implementing my own advice presented here.
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Intraday trading is like flipping a coin and losing even if it’s head or tails so stay away from it.
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Phew… This happens to many people, don’t worry, keep your cool.
First of all, take a break from trading, get relaxed for few months. Just think this is a low phase in your life, keep the faith in God and yourself. Time is the best healer, keep a positive attitude. Enjoy your life, create happiness for yourself, keep smiling, try to materialize good things in your life. Keep your thoughts positive and happy and loving.
After this take up a job/business/part time vocation to keep your monthly expenses rolling.
Keep studying about Share Trading, Investing, Money Management etc. during your spare time (this is must, religiously do this).
Start paper trading, keep a journal, maintain in writing whatever you do related to trading in your dairy/journal. Analyse and reflect, see what mistakes you do, improvise on them, learn to correct them, view Youtube videos (there are many), Read, read and re-read Zerodha’s Varsity (it’s really educative and informative), be on Trading QnA platform regularly. Read books pertaining to trading, if money is a constraint, read websites and e-books (just google, you will find ample).
Develop a trading strategy, money management style, risk reward ratio etc. use this in your paper trading exercise. Try to develop confidence once again.
Once confident, fund your Trading Account with very less money say 5k or 10k, do very less trading or 1-2 trades in a week, apply stop loss (v.v.very important). Slowly increase the frequency of trades, say 3-4 trades in a week, then try to do it daily (1 trade a day) freeze on this for 6 months or so, if you feel increase otherwise, continue with only 1 trade a day.
As far as possible avoid Options Trading, do only Equity and Futures (with 10k you can easily buy a lot of Nifty Future for intraday trading). Take time, lots of time, clear the noise, there is lots of noise in trading. Build your own system of trading. Don’t take tips from tips providers. Avoid news channels/newspapers as far as possible it’s pure noise, won’t do any good to you. For a brief or general outlook, you can use news channels/newspapers. (eg. something like election results, some economic crisis, etc).
It will take you time, to come back on track, don’t lose hope, keep doing your homework, keep reading and studying, once you get back on track, then you yourself will slowly start increasing your speed and efficiency. Then nothing will hold you back.
All the very best.
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Stop trading
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Put another lakh to recover but in long term … Many fundamentally strong companies are available in great discount price… You can recover it with in few month … I recommend sugar companies because already touched bottom and now because of election year and latest kairana by poll results modi govt is in huge pressure to give some good package to them… Track…
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Stop intra day
Hi,
Kindly go through Zerodha Varsity – Technical Analysis all chapter you will get confidence in both intraday trading and long-term investment .
When You say such a thing! Do U realize What U r saying or Even more What You are Doing!! Bank Loan!! I am pretty sure there is no point asking questions such as how much analysis did you do on a daily basis/how many techniques did you know about/how much of self study have you done/have you ever just followed/back tested a strategy/did you even have a strategy! You need to start small, learn every single day and with every single trade…I am also a beginner but have Earned more than have Lost and that should be the Philosophy…Don’t really know what to say…If you need help you may connect with lots of people/resources available online.
PS: Even if I lose 200 I feel that I could have avoided and I always know where I went wrong. U r talking about Lakhs!
You need to step away from trading immediately. The worst thing you did was to take money from the banks and invest in stocks. You should always invest in something with your own money. I hope that you will be able to payback the banks. Please, don’t do more trading.