Need advice from seniors: Should i stay off market after this loss? Really?

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Subhadip

Well-Known Member
#41
Dada, Thanks for the response.
Addicted to trading? Agreed. I am trying to stay off as much as i can.
Gambling? Trading is a gambling, except we are applying some intelligent predictions, based on some indicators which we hope to work in our favor, but still it doesn't at times (and hence the stop loss).

In my last trade, i didn't follow a decent money management, (stop loss strategy), and hence went broke. I averaged, against the market, when i knew i was wrong, and it proved fatal for me (don't want to give excuses, but i was not quite in my mind that day, after suffering from heavy fever and food poisoning) in a sane state of mind, i would never have done that. I have stopped averaging losing trades altogether after that, as so many seniors also suggested.
No trading is not GAMBLING....it is purely risk reward... but most of the people come here to earn BIG...but in reality loose big..

That is the problem...
 

Subhadip

Well-Known Member
#42
Whatever u do...just do one thing...trade and stay in this market fro next five year...then u will earn surely..

but first u have to learn how to stay afloat in this market...
 
#43
No trading is not GAMBLING....it is purely risk reward... but most of the people come here to earn BIG...but in reality loose big..

That is the problem...
Light Joke Subhadip Ji-
As per Income Tax Department If you are an Intraday Equity Trader,you are a Gambler and thus,you have to file your return under Speculation Head :D
 

Subhadip

Well-Known Member
#44
Light Joke Subhadip Ji-
As per Income Tax Department If you are an Intraday Equity Trader,you are a Gambler and thus,you have to file your return under Speculation Head :D
As u have already quoted, u should know that future and option comes in business category....
Myself only in that category....
 

aja

Well-Known Member
#46
Hello @kingsmasher1 I read about your 4L loss and I only can feel it,understand it better :rage:
Did you trake a break from trading?
or are you trading in a small quantity?
or moved to Swing/Positional?

What are doing exactly now after your losses?

aja
 

kingsmasher1

Well-Known Member
#47
Hello @kingsmasher1 I read about your 4L loss and I only can feel it,understand it better :rage:
Did you trake a break from trading?
or are you trading in a small quantity?
or moved to Swing/Positional?

What are doing exactly now after your losses?

aja
@aja This post was way back in July. I just took a one month gap, and started again, and doing quite better and happy with how things are moving :). However, i completely changed my trading style, instruments, the scripts, from what i was doing earlier, and this retrospect and self-analysis was something which took quite an effort.

The good thing about this loss was and few others were a good learning for me, which made me change everything completely how i was doing earlier - So, i am actually happy for the loss, else i would have continued making the same mistake, if it gave me money :D:D.

The money which i lost was actually gifted to me by mom when i was planning to immigrate, which never happened actually due to personal reasons, and she never asked it back, even when i insisted later.
 
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#48
After losing deposit it's better to take a small time-out, as emotions and desire can cause you more harm. It's better to take a break and analyze your mistakes.
 
#49
First of all, you made the mistake of trading when you were sick. Ypu should have avoided the market during that period. Second of all, if you think you are financially not stable, then don't trade. You should never trade with loan money or when you are in a debt. Thanks for reading.
 

MSN1979

Well-Known Member
#50
Trade equities. Keep a stoploss. Don't bother about the amount of money you make, only ensure that you have had a profitable day.

As some senior wrote in this forum, 70% of your days should be in profit, 80% of weeks and 100% of months.

Good luck.
Hi time pass, did seniors also tell the strategy of how can we profitable 70% in days 80% in weeks and 100% in months? If yes then please paste the link to that thread.
 
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