One Day Loss 90k_Need to Tell

Trading
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I am writing this post to because I need to tell someone and release my shock and frustration :weary: :sob:

I have lost 90k in one day and I just can’t get over that fact. I know I am to blame only as I didn’t exit despite seeing I am making loss because of hope of price rebounding.

I do intraday scalping and most days I don’t buy more than 2 or 5 lots. Usually, I make little profits. Sometimes, I take 15 lots too.

For past one month, I noticed that in Sensex, there is usually a sudden drop in Options in the second half and then the price of the options rebounds. Now, I felt it might be because of the “institutions”. Last few weeks, it happened quite often that I saw Call/Put option prices to fall, and I bought because I knew prices would rise again based on the OI resistance and support.

Then I saw prices fell more and when I used to be thinking of exiting, prices rebounded and I made profits. I used to exit the trade the moment I get some profit and later used to regret that why I didn’t stay longer. :confused: Prices used to go really high.

Since it was a known pattern, on Sep 22, I followed the same approach. When I bought call option, prices started falling again. And on this day, I went on buying more lots as I thought prices would rebound and this time, I would take full advantage!

And then I saw 25k loss and prices rebounded a little, but I didn’t exit as I had not made profit! I saw 50k+ loss, but I thought I can’t take so much hit! But it went on sliding, and it was 86k when I exited. Then I made a few revenge trades for which I incurred profit and then loss and total is 90k+Service Charges!

I entered trading this year Jan. I have been extremely conservative about risk management. I used to be scared even with 300 Rs loss. Initially, I was selling and buying stocks only but later I started option trading. Again, a very conservative approach.

Gradually I made little profits and I gained confidence.

I made a few loss and profits overall and was standing at a total loss of 15k. I knew I could get it covered within this month. And now, I am at a loss of 1 lac! :confounded:

I know many would suggest me to quit trading, be disciplined, check risk management. But I don’t want to quit this market without at least recovering the money lost. I am now taking very cautious approach. Any other suggestion is most welcome!

Thanks for reading my post. :slight_smile:

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You extremely need :point_up_2:

You will never recover if that is your only intention for trading, you may sink more and more.
Don’t trade with intention of revenge.

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Thank you! okk. Can you please tell me what I should focus on then to stay in the market?

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A good strategy with impeccable discipline.

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Dont draw wrong conclusion that risk management was the only issue . You need to understand why option prices are going down or up and take trades , still you will lose more than you win but atleast you would know . Use some software which has fixed mtm loses for the day.

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It may be a bit anti climactic but what you should focus on is long term investing and SIP in nifty50 index. Trust me over time you will recover this 1 lakh and make much more. Trading after suffering such a major loss will mess up your psyche. You will keep digging the hole deeper. Focus on your career and long term investing… you will thank me in a few years. Quit trading. Choice is yours.

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thanks! :slight_smile:

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Thanks :slight_smile:

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  1. This is not how people trade. You don’t look at something and just start trading it. We need to test and confirm that what we see is actually real.

  2. You need to already know where or when to exit before you take the trade and then stick to it. This is basic requirement to trade. Many people seem to fail here. This wont make you money but can prevent you from blowing up. In trading, first comes risk, then we can hope for reward.

  3. Forget about making money back. That is a road to hell. Search this forum for ‘lost lakhs’ and you will see many people in similar situations made more bad choices and lost much much more. This 1L will look like a small amount.
    Search results for 'lost lakhs' - Trading Q&A by Zerodha - All your queries on trading and markets answered

In my view, you dont have emotional control nor do you have any edge in market. Markets are not easy and they dont give easy feedback on what works. Stop trading, dont make a fool of yourself. You people are fodder for the market. Give me a reason why you think you should make money. Markets are super competitive.

If you are not going to do above, then step away from fno and go to cash market. Trade with very small money. I used to trade with 1 qty of SBIN for a while. Even if transaction costs means certain losses, trade small and try to learn.

It could take years to learn to trade. Some might do it early, some ( most actually) might never make it.
You tube guys advertising quick money in trading are frauds. Many have been caught by sebi too.

Still want to trade ? You can try to learn from here, but note that it wont turn you instantly profitable even if you follow everything 100% to your capacity. imo we cant copy others exactly, you will need to learn and adapt.

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Wait, aren’t you the guy who was asking about making 1cr in the next 10 years? Options is the worst way to make that. You can surely lose 1cr in a day in options.

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[quote=“PeacefulTrader, post:2, topic:186969, full:true”]

i dont understand why you call yourself “pissful trader” after reading your replies in few post
including mine you could be anything but peaceful .

i think you’ve lost it all trading so you are here to deemotivate other fellows.

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I can only smile :slightly_smiling_face: on your respectful words for me. Thanks.

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@DM123

hey its ok consider it as an investment.

Options trading very toughest when it comes to Options Buying and Scalping is also not good in options buying as you buy and sell on the same contract.

i dont know from how long you’re doing scalping (like exiting with 1-2 maybe till 10 points profit) but its not at all a good idea to scalp an option contract (options buying) due to manny mannny factors.

One thing i can assure you that you’re exactly the same path where each and every intraday traders have been once, your exact feeling that you’re right now i’ve also gone thru and other millions of trader also So dont worry.

those people who says “Oh!! its not about guessing” dont know a shi*t about Trading.
i can tell you with my experience no one in this world can predict the stock market its all about guessing and intution. even the So called high tech research team gets it wrong.
thats why my institution like banks and institutions arbitrage trading system which profits from the markets volatility and even they loose money maybe 100x more than what you have lost.

Even thou you have made loss but you have also done profits with your own ability. So, i guess you have learned a lot and definitely you will do better in your next trading day.

So to conclude, the loss you faced is very normal in intraday trading and its the part of the journey. you will get used to it like every other intraday trader.

P.S.:Stock Market(index) is the betrayal bitch.

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Oh you’re peaceful when abused

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bro, i can suggest you something but,

you have to understand that you should stop random scalping like you did here.
it will make you loss no matter how good you are.
OR
you have to stop trading immediately when you have made a reasonable profit for the day and do not trade that day (this is tough).
OR
take long trades with a good Risk to reward ratio. (takes time to master].
be patient.

you can learn by yourself . people claiming to teach you are self trying to figure it out.

its better to loose money while you’re self trading rather giving it to some random arsehole who knows nothing. you’ll learn more trying by yourself.

“when it comes to trading and investing Its all DIY” - karthik.

trading will make your charecter strong which you’ll need when you’re a billionaire :wink:

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Instead of saying loss of 1 lakh, I suggest you convert it to how many hours you would have to work to make it post-tax. Mistakes happen, but learning from them is important. Next time you trade, risk your hours of work, not just a random number or percentage. Observe your emotions, and instead of thinking I could have escaped with small loss, think in terms of process or guard rails you would need.

Strive to be a disciplined trader instead of chasing something else. If the trade goes according to set rules, irrespective of profit or loss, the trade is a success. Capital is the oxygen to us, like any business; without it, we will be out of business.

“Mental strength comes with work, conscious breathing is a big part, especially in the moments when you are under tension. I do not like the mindset I see in many sports, which emphasises thinking positive thoughts, being optimistic, and there being no room for failure. It’s impossible. You are a human being. The difference between those guys who can be the biggest champions and those who are struggling to get to the highest level is the ability not to stay in those emotions for too long, so as soon as I experience it, I acknowledge it, and I may. As you know, like bust scream on the court or whatever happens, but then I can bounce back and reset.” Djokovic

I remember reading about Tiger Woods in the same line, he takes 5-10 seconds and resets.

Now, for us, we may need a few days to reset, but come back with a proper playbook. Record your emotions so that you can revisit them.

Netflix and chill for few days, you are going to be fine.

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yes, things work in probabilistic way. Losses are part of trading. No one gets it 100% right. My systems have win rates of 50% / 35% and similar. They win more on average than they lose.

Nonsense. Overall he is in loss and thats what matters. We can make money in short term doing random things or wrong things. That’s one reason markets are so difficult. Law of averages works over large sample. Short term is noise. Individual trades are meaningless. Even if you won something, it means nothing.

This kind of thinking leads to false hope. That is fine as it keeps you going, but its very harmful if you cannot manage risk.

In first few years, almost all will lose. Best to trade small so pay less tuition fee to market.

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that means you’re at breakeven phase.

So, you were profitable all the time?

No!!

how??

everything in this world is on a false hope(thats why GOD exist). Eventually the route is tough for everyone and only hard work get you thru.
the feeling of loosing 90K in minutes is what will make him a good trader in long run you and I or anyone cannot help him only market will teach him.
the day he planned to put him money at risk he is a trader.
every big traders have faced hard situations ,
so dont show off your skills be humble

exactly!!!

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Thank you so much for the link and your words of wisdom. :slight_smile:

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ThanKs for your encouragement! :slight_smile:

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