Share your experience in day trading which mistakes you have made in past.
No big losses and everything will be fine.
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Didn’t you make any mistakes when you first started day trading?
I don’t know about what New traders make mistakes but i can share my journey in a short summary.
Starting journey was like how Beginners Luck is like in Poker.
Later, when drawdown happens all of a sudden and then trying shortcuts like youtube finfluencers and so called loss recovery telegram channels plus some individual claiming PMS (portfolio management service) with just derivative trading, then getting fraud by them.
During this phase, when u want to be a first generational trader of ur family with all against you (except parents), lost almost all ur savings, expenses started growing more than income.
Mental fatigue, loss of confidence, crazy nightmares, loss of sleep, stress and anxiety, heart aches now and then, it was all like complimentary.
Later, after all these, with remaining savings, decided to understand the market solely by market itself, disconnecting from outside world for almost a year now, (except few)
Life has been way easier, simpler with growing discipline and gaining confidence.
In short, “it’s worth every day, since my 3 years journey”.
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Biggest mistake one can do is start trading live with lots of money expecting to make a ton of money after studying some book or course and thinking that its simple. Thinking you will crush the market, nope you will get crushed.
Next - after losing good money, people try to trade even more recklessly to make it back. This need to recover money from market itself and quickly, is very very dangerous.
Keep realistic expectations, markets are tough. Most people lose, dont be an idiot and believe that somehow this doesnt apply to you.
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“Oh if I don’t do this quickly, I will miss this trade…” “Oh I need to make it all back quickly”… Don’t be in a hurry to be rich. The principle will hold in almost every market decision and outside of markets too.
Realistic expectation would be how much? Like what % according to you or to member in this forum is realistic?
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Initial expectation would be losses for few years when you are learning
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No guarantee that you will get past that. I have seen people struggle for many years and not make any real progress.
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If you do eventually figure it out, i guess sky is the limit for an outlier case from what i have heard. But more realistically, we should hope for say 20% returns with 20% max dd. This is a very rough figure, we can do better, but its a good number to aim for. And at some point below this, one might as well just invest and make a living in some other field. Also, one must have capital to make 20% worth it.
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It also might depend on what you are doing. Intra/overnight, target market etc. I think best answer is to look at data and see what you can find. If you like it, trade live expect to get worse and see what you can find. And then decide if its worth it.
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A common mistake, though not always immediately obvious, is entering the market with insufficient capital or without a clear plan for securing future funding.
Many day traders, especially newcomers, are tempted to chase high percentage returns, hoping to make large profits in absolute rupee terms, even when their capital is small. They might think that achieving a 20% return on a small investment will lead to big gains, but in reality, the absolute amount they earn might still be too low to cover the risks or expenses involved in day trading.
On the other hand, more experienced day traders understand that it’s not just about chasing big percentage returns. They focus on achieving consistent, smaller percentage gains over time, but with much larger capital. This approach leads to bigger absolute returns in rupee terms, even if the percentage return is lower. By starting with a larger trading account and focusing on steady, smaller trades, they reduce risk while still seeing substantial profits in the long run.
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What’s the biggest mistake new traders make in their first month?
Sorry, I couldn’t resist! 
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