My Trading Diary for 2013.

TraderRavi

low risk profile
Last few months was going good. Today lost all profits of last few months. Account blown by 50%. I was not under my control. Don't know what happened to my but I kept on adding to losing banknifty position with excessive leverage and it was a disaster. Continuous winning streak made me overconfident and I could not mentally accept the loss so blindly added to the losing position in order to breakeven.

@timepass yes I made the same mistake earlier also but it was not of this magnitude. Single largest losing day of my life. Don't know what will happen now but I won't trade for a while. Need to mentally accept this loss.

reminds me of my very very bad loser day in idea last year. instead of accepting the loss in first trade tried to regain it and ...and ...and ......bahut bura luta us din :arghh::jimlad::pompus::down::dead::erm::shifty::facepalm::doctor:
 
Last few months was going good. Today lost all profits of last few months. Account blown by 50%. I was not under my control. Don't know what happened to my but I kept on adding to losing banknifty position with excessive leverage and it was a disaster. Continuous winning streak made me overconfident and I could not mentally accept the loss so blindly added to the losing position in order to breakeven.

@timepass yes I made the same mistake earlier also but it was not of this magnitude. Single largest losing day of my life. Don't know what will happen now but I won't trade for a while. Need to mentally accept this loss.
Dear soft_trader,

Your mistake is simple money management mistake.

Loss is not a big problem if it is lost in professional way.

You should not loss like a newbie beginner.

Since you already won for few months you are a successful trader. Don't lose confidence.

So your last mistake is money management.

Don't repeat the same mistake again. otherwise you need to restart from beginning again.

Only money lost. Your success days are there as a proof of winning.

If you feel ok tell us the real capital and amount lost.

What you done inbetween 2013 and 2018.

Happy trading...
Veera.
 
Last few months was going good. Today lost all profits of last few months. Account blown by 50%. I was not under my control. Don't know what happened to my but I kept on adding to losing banknifty position with excessive leverage and it was a disaster. Continuous winning streak made me overconfident and I could not mentally accept the loss so blindly added to the losing position in order to breakeven.

@timepass yes I made the same mistake earlier also but it was not of this magnitude. Single largest losing day of my life. Don't know what will happen now but I won't trade for a while. Need to mentally accept this loss.
Sorry to hear about your large loss. I sincerely hope that you will recover the same in time to come and NEVER repeat the same mistake.

Everyone makes mistakes but what you learn from the mistake and how rigidly you follow the lesson learnt decides whether the mistake was learning or a repeatative payment to the market. The market has uncanny ability to induce us in believing in wrong trading practices.I am sure this was not the first time you averaged into your losing positions....you must be regularly doing it but most of the time the market gives a small antitrend move and you get out at breakeven. That made you believe that why loose money on stoploss, averaging lets you avoid that loss....but be sure that once the market makes you believe the wrong trading practice as a right one, a large crippling loss is just lurking at the corner to blow you up.

I have done all that, have been there.....many years ago I had similar loss where I lost my full capital accumalated over many months and it was a crippling loss for me...but from that day some 15 years back I have not had a single day of large loss.....just dont let the loss grow...kill it. We wont survive in this game unless we are ruthlessly disciplined. Market is not our mother who will be kind to us ignoring all our misdeeds.....it can be very ruthless if we dont respect risk control..

Smart_trade
 
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soft_trader

Well-Known Member
Sorry to hear about your large loss. I sincerely hope that you will recover the same in time to come and NEVER repeat the same mistake.

Everyone makes mistakes but what you learn from the mistake and how rigidly you follow the lesson learnt decides whether the mistake was learning or a repeatative payment to the market. The market has uncanny ability to induce us in believing in wrong trading practices.I am sure this was not the first time you averaged into your losing positions....you must be regularly doing it but most of the time the market gives a small antitrend move and you get out at breakeven. That made you believe that why loose money on stoploss, averaging lets you avoid that loss....but be sure that once the market makes you believe the wrong trading practice as a right one, a large crippling loss is just lurking at the corner to blow you up.

I have done all that, have been there.....many years ago I had similar loss where I lost my full capital accumalated over many months and it was a crippling loss for me...but from that day some 15 years back I have not had a single day of large loss.....just dont let the loss grow...kill it. We wont survive in this game unless we are ruthlessly disciplined. Market is not our mother who will be kind to us ignoring all our misdeeds.....it can be very ruthless if we dont respect risk control..

Smart_trade
That is what I did Da. Generally most of the time my entries are good and very few times market goes against me from my entry point. I am a price action trader you can say. I follow simple support resistance and price action. And yes I did average. Last Thursday I used excessive leverage without listening to the market. I clearly understood hours before that I am wrong but looking at the large negative mtm I got very nervous. I started praying for the market to reverse, which never happened. I just freezed and unable to cut my position. The loss was becoming so large by each passing moment that I was kind of paralysed looking at the screen. Finally I cut the position with half the capital gone. Had I not cut the position that time, all my capital would have vanished.

I made all possible mistakes. Entry was wrong because of overconfidence. Leverage was the highest that I ever took. And I kept on adding to the losing position when looking at the chart I knew I was doing mistake. Also to add to this I was not in a fresh mind since morning due to some personal problems. So it ended up in a catastrophe.
 
That is what I did Da. Generally most of the time my entries are good and very few times market goes against me from my entry point. I am a price action trader you can say. I follow simple support resistance and price action. And yes I did average. Last Thursday I used excessive leverage without listening to the market. I clearly understood hours before that I am wrong but looking at the large negative mtm I got very nervous. I started praying for the market to reverse, which never happened. I just freezed and unable to cut my position. The loss was becoming so large by each passing moment that I was kind of paralysed looking at the screen. Finally I cut the position with half the capital gone. Had I not cut the position that time, all my capital would have vanished.

I made all possible mistakes. Entry was wrong because of overconfidence. Leverage was the highest that I ever took. And I kept on adding to the losing position when looking at the chart I knew I was doing mistake. Also to add to this I was not in a fresh mind since morning due to some personal problems. So it ended up in a catastrophe.
Don't flog yourself too much. Shit happens. You wipe yourself off the floor and get up. Happens often.
 

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