already lost 90%!

shobhendra,

Though i address this post to you,not knowing whether you are still with us or not but thru this post trying
to remind ME.

Few points to be considered :=

1) You need a basic Infrastructure in place before venturing;
Like Computer / Broad Band / Power Back Up / Software / Data feed / Atleast 3 Seed Capital/ Etc.

2) Reduce your Standard of Living ,dont be a Miser but never indulge those things which are not that essential.

Now you are somewhat Ready.

3) Etch this in mind PERMANENTLY & chant everyday of your trading life that the trades outcome is RANDOM ;
Means i just can not make an extrapolation with few Wins & Losses.One can not Win or Loose Consistently.

Now how to Reduce Losses:=
a) Trade in Small Qty's to start with.
b) A minumum Time & No of Bar is absolute Necessary for a Trade to develop,hence when i reduce the Time
Frame to Hrly/ 30mins / 15mins / 1 min etc ,i am reducing the avg. ATR of that Time Frame hence my
reward is less; OK; but my RISK is also less so i am Loosing less.
c) Visualize Stop Loss ,means your Risk , before Entering.
d) Have some System in place;means a definite, defined ,pre-tested ,mechanism to Help you decide your Entry.
e) After Entry & Stop placed ,be very impatient to BOOK some profit & enhance Stop to Entry,if you can
WoW !! you have cheated the Random for THIS TRADE ONLY,it is going to pounce again,hence PRESERVE.
Bottom Line :=
I will have to have a defined /pretested / Absolute Mechanical Entry(means at designing level use Bullish & Bearish
phase,intention is to CLONE Mkt movements) & that being pretested gives some confidence to ACT at actual
mkt.
Stops should be that price zone from where the Trend reverses,hence i am SAVED from loosing more.
(Dont try to reverse the Trade now,plz acquire some proficiency first)
After trying this for some time in CASH Mkt if i get some (+)ve Result with a Surplus in my kitty & that
surplus is sufficient to pay for the Margin Money & few MTMS extra ,i can start at F & O,NEVER before that.

Later on in F & O whenever you get a Big Drawdown ,dont ever try to supply logics to your sub-concious mind ,
Ahh !! it's OK ,it happens with everyone let me continue i am Good.
No No & No
you go back to Cash mkt again build that amount & come back to F & O.

It is a Snake & Ladder game ,coming in F & O & going back to cash mkt.
But friend i can tell you Trust me in this process your Monthly income will increase.
Initially when i worked in F & o with 2 contracts & the last time i was banished i used to work
with 10 contracts .In the process Mkt will automatically promote you.
My last suggestion:=

Money is not the Motivation but it is an automatic outcome.We are here to Stay life long,hence how to Excell
Self ,everything is in Self,how to uplift my knowledge.Our proffession is dealing with Money everyday hence
it will automatically follow but our Asset/Capital is our own Knowledge of the Daily Mkt movements,we have
to increase our Capital not Money.That capital when employed & leveraged will give better understanding of
that MOMENT's Mkt movement,alas there is most of the time no set pattern of the movement but some embedded
knowledge of a Larger Time frames movement on THIS time frames on going movement.

Asish

Nice ,well written . Very difficult to replicate ,but must follow to success . Appreciate the time for penning this down . .

Good right up dada some great wisdom there !