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| Discuss already lost 90%! at the Beginners Guide within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by shobhendra ThanX to Satya and Agilent for encouraging me. Welcome, friend... the ... |
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#71
31st January 2007, 07:16 PM
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Re: allready lost 90%
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Leave those tactics to the pros and the successful amateurs , who have enuf profits to fall back on. AGILENT 
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#72
31st January 2007, 08:38 PM
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Re: allready lost 90%
Since,
Shobendra is bit encouraged and looks smiling. We had enough of talking. First thing is, please write your trading style. I mean how you traded those 15 lacs and how fast you lost them. Like taking huge positions, no stop losses. It's time to write what you did exactly in trading. The Next Thing is, What you want to do next. Come up with an Action Plan. It could be Time Driven Too. For Example: I will learn TA for next 3-4 months, watch Price Action / Volume Movements etc etc. Next thing is, I want him to write whatz he gonna do next. Also, if he has that time and patience, I would ask him to post at the end of every week, what he did all that week terms of 1. Learning 2. Trading 3. Strategy planning 4. Implementation of his Strategy, MM Techniques 5. Lessons learnt 6. Pitfalls So, its time for Shobendra to get serious and plan his trading as a trader. We will sit back and watch what he is doing through his posts. This way, we may suggest the repeated mistakes he is doing and also learn from it. Useful for both Shobendra and Us. Compliments to Agilent too for being very practical and realistic. Satya *Note: I am no expert trader, but just learnt to live with markets. Learnt to control my emotions, excitement and these days prefer only low risk trades (Delivery based Trading). My story needs a seperate thread alas like shobendra's too...
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#73
31st January 2007, 09:29 PM
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Re: allready lost 90%
Lot of good advice..first, you would not have probably lost it in one trade..if yes, then you were not very astute, to say the least, to have allowed the loss to mount up to that..and then, it is quite possible that u lost in repetitive trades forced by urge to average..
You know, I lost almost 4 lacs because of averaging..so you are not the only one in any case..but then I learnt my lessons the bitter way and decided never to have more than one trade outstanding at any given time..if you see a stock going down and down and down then get out first even if it were to bounce back..take a fresh call with a fresh mind..in my case there was double whammy..to cover the loss to the broker, I had to sell what was sellable and that meant selling prime stocks which gained over 100 % in certain cases within weeks..second lesson, if you need to sell to cover, sell "kachra" stocks first, holding on to the blue chips..for the present, don't trade in fno because, it is rarely the fundamentals that cause the movement there..the large operators decide which way the tide will flow..fundamentals come to play but over a longer term..in the short term a bad stock can do high jump while a good stock dives..you have to be very watchful..do selective cash buy-sell and recover some capital and then u can indulge in some selective trading and only at a later stage, when u are agile and sharp in your moves, go for extremely selective fno trading in blue chips only..enough for now..good luck..and see, no point in rueing what is lost..look ahead and come out with a program and follow it..never allow your hopes to cause you to extend urself beyond a limit and vice versa, never allow fears to shackle you to the point of no moves...
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#75
31st January 2007, 10:12 PM
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Re: allready lost 90%
Come on Shobhendra,
I am there to keep your company. Do as Satya told today. I will also learn along with you. I will post my share of foolishness also in this thread (of course, with your kind permission) so that I too can realise my share of mistakes. Fortunately, I have never dared to trade in F&O till today as it was and is beyond my risk taking capacity. First thing I followed in this market is "risk only that money that you can afford to loose". That means my bank deposits, my house, my family jewels etc. are never involved in any stock trading transaction. To add that I am not indebted also. My profession never permits me to be a day trader as well. Nevertheless, I also committed some foolish mistakes and now I am saddled with some dud shares. More about that later. Regards R. S. Iyer
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#76
31st January 2007, 10:49 PM
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Re: allready lost 90%
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#77
31st January 2007, 11:25 PM
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Re: allready lost 90%
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Excuse me, but arn't u in the wrong thread... I mean , how is all this going to help our poor friend who is - 90 % (against your easily achievable + 100 % ) ?? Except maybe to lure him into some more speculative kind of transactions ( which guys like u can handle , but not him) where he loses even more ?? Pl talk on his wave length ... he is still struggling to learn how to walk, and u are telling him that flying is glorious... and to come take on wings !! Do u have any concrete advice for him ? If not, at least dont make him feel miserable by emphasising how much superior u all are to him (which no one doubts) Do I make sense ? AGILENT
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#78
1st February 2007, 04:45 PM
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Re: allready lost 90%
today was very nice day for me, I made profits in 4 different trades in both direction .
1.I saw some weakness on IDFC chart, IBAR method Short on 103 and cover at 99 Profit 4*5900 = 23600 2.then IVRCL,long on IVR because ivrprime IPO news buy 2 lots at 412 and cover at 430 Profit 18*2000 = 36000 3. long in GACL buy 1 lot at 137 and cover at 140 Profit 2062*3 = 6186 4. Long with infosys buy 2 lots at 2240 and cover at 2268 Profit 400*28 = 11200 Total Profit is 76986 Thanx to all of you for help. Specially AGILENT and SATYA, who help me to earn my confidence back. Shobhendra
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#79
1st February 2007, 05:58 PM
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Re: allready lost 90%
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And I was thinking you were going to heed the advice to stay away from daytrading. Hmm.. brings to mind something about leopards and spots.  Glad you had a good day anyway.
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#80
1st February 2007, 06:37 PM
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Re: allready lost 90%
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