Starting fresh with 4000 rupees

#1
Friends this will be just like another trading diary. I have been in market for 3 years now. Lost few lakhs. I thought about trading full time once. The euphoria of making money groped me. Made 50000 one day lost 80 percent of that next day. That was last year. I haven't kept a trading journal ever. I have a secure job. Now i realise even the idea of leaving that was stupid beyond limit. Now trying to do the impossible. I will be posting live trades here. Not planning to do a lot of trades. Thats why starting small. All trades will be no stop loss. Idea is to take 50 percent of capital as profit. Always trade with full capital. Account go bust i am out. Planning to do max 24 trades in next one year. All option buying. Once reached a fat capital will be trading other instrument. Have studied lots of books, read lots of ideas. In the end i think my gut feeling is enough. I ruined my account due to overtrading. Knowledge gathering phase has passed.
Lets see..

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vijkris

Learner and Follower
#2
Friends this will be just like another trading diary. I have been in market for 3 years now. Lost few lakhs. I thought about trading full time once. The euphoria of making money groped me. Made 50000 one day lost 80 percent of that next day. That was last year. I haven't kept a trading journal ever. I have a secure job. Now i realise even the idea of leaving that was stupid beyond limit. Now trying to do the impossible. I will be posting live trades here. Not planning to do a lot of trades. Thats why starting small. All trades will be no stop loss. Idea is to take 50 percent of capital as profit. Always trade with full capital. Account go bust i am out. Planning to do max 24 trades in next one year. All option buying. Once reached a fat capital will be trading other instrument. Have studied lots of books, read lots of ideas. In the end i think my gut feeling is enough. I ruined my account due to overtrading. Knowledge gathering phase has passed.
Lets see..

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Lines highlighted in bold is recipe for disaster.
Hope you have backtested your trading idea for 90 trades atleast. If not then do it before committing real money, however small the amount may be.

All the best ! :thumb:
 

pannet1

Well-Known Member
#3
Friends this will be just like another trading diary. I have been in market for 3 years now. Lost few lakhs. I thought about trading full time once. The euphoria of making money groped me. Made 50000 one day lost 80 percent of that next day. That was last year. I haven't kept a trading journal ever. I have a secure job. Now i realise even the idea of leaving that was stupid beyond limit. Now trying to do the impossible. I will be posting live trades here. Not planning to do a lot of trades. Thats why starting small. All trades will be no stop loss. Idea is to take 50 percent of capital as profit. Always trade with full capital. Account go bust i am out. Planning to do max 24 trades in next one year. All option buying. Once reached a fat capital will be trading other instrument. Have studied lots of books, read lots of ideas. In the end i think my gut feeling is enough. I ruined my account due to overtrading. Knowledge gathering phase has passed.
Lets see..

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nicely written. i would suggest read the RED highlight in my signature. IMHO, commodity is the best battle field because you have the whole day to adjust.

just my 2 rupees. good luck
 
#5
Stoploss level can be set for futures not options i think. Because of theta premium will erode. So until index doesnt break futures stop level the trade should be on. Most of the time i have seen my target hit in last 2 days of expiry. Lets see how this idea goes. Then will add another 5000 and will put stop

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howardroark

Well-Known Member
#8
Being FX pro trader and being ignorant of how domestic exchanges work .. Stocks / Indices / MCX etc ...
What I have experienced in FX is ...
Traders who keep coming with 100$ / 200$ keep losing .... Even after coming 100 times with 100$ / 200$
Traders coming with 5000$+ keep making enough profit to survive on trading ...
My 2 cents though ...
Forgive my ignorance on domestic instruments ...
Stay in Green ... Thts what matters ...
Cheesssrssss
 

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