Mindset of a newbie...

Czar · #1 9th October 2007, 12:57 AM

Hi I would like all seniors to share their experience as when they just began the careers in stocks...

Some mind sets I have gone through, ofcourse all are bad:

1) The bull market will last forever
2) A bad trade carried forward & to pay for it I used to cut good trade
3) Bad news/events/hand of God made my losses go on...
4) If I get a few straight wins continuously, I start increasing my trades quantity
5) Anyone giving me sell advice on my highly profitable trade/market is jealous or does'nt know anything...
6) Certain superstitious thing I do in the morning will make my day profitable.
7) After a significant fall or rise people suggest another 5% in the same direction, which refrains me from buying / selling respectively.
8) Press order 1st thing in the morning after reading some news on the co.
9) One day my price will come...
10) The operators are good hearted guys here to take market higher & higher

tulika · #2 9th October 2007, 01:01 AM

Truely said,..... i am still passing through this phase, even after having plenty of blows straight on my face.

Czar · #3 9th October 2007, 01:37 AM

well that's the reason i started this thread so maybe new guys would know what others have already gone thru as Adrenalin will never overtake experience...

uasish · #4 9th October 2007, 07:03 AM

An essential thread for us ,plz continue this good work,i had all these notions & later on ,after this phase ,i thought taking Tips Service of Gr8 guys will increase my wealth.
In fact my 1st Cell was purchased only to talk during mkt Hrs ,from the Broker's place to this Semi-God guys of B'bay (Aniruddh Sethi etc) from Calcutta.
What a 'Fools paradise' dream world i was living & doing Intraday only each & everyday & slowly significant amount of my Life's earning ,accumulated upto 45 yrs of age ,vanished in 1 yr.
A basic Maths ; a Loss of 5% on Rs 100.00 = Rs 5.00 but a gain of 5% on Rs 95.00 is NEVER Rs 100.00 ,so after equal no of 10 loss even if i get 10 wins i will never get back my initial capital.

Czar · #5 9th October 2007, 09:32 AM

Quote:

Originally Posted by uasish

An essential thread for us ,

Now you pulling my leg

Yes thats one more thing, Those newsletter, live sms calls, showing that their calls made 1000/1500% returns & you see their calls in disbelief thinking what a waste why i dint find them before, but when we trade those calls after paying hugh fees, man what am I doing wrong ???

5 tips usually make small money & then 1 tip takes you royally...

& these guys very well know people trading their calls are not the kindoff people who will put stop losses...

shrirang.tambe · #6 20th January 2008, 10:25 PM

hi guys..... i think, i am so small that i have yet to get birth in this invested

world, looking at your immense exp. Would like to learn every bit from ur knowledge. Thanks for starting this thread, but i must say.......the show must go on. Let us know as much as possible about what can happen.....so keep on posting

Best luck.