today loss or profit.. (Mistakes done today)
- Thread starter gambler
- Start date
Sorry to hear that......but if you are not able to get it, take a break....dont loose further money.
From your last 2 days trades I observe that you were trading really small.....it is correct till you become consistantly profitable and till you are confident that you will come out positive on any type of day....but today you seem to have traded relatively large......why so sudden shift ?
Day trading is tough.....you need to be very fast in getting out of your loosing trades and not wait till they hit your stops......margin of error is very small here.....I know it is easier said than done......
Step back for some time and take a fresh look at trading and find out what was missing ,a competent method, discipline to follow the plan, MM,overtrading,frustration,anger.....
Smart_trade
From your last 2 days trades I observe that you were trading really small.....it is correct till you become consistantly profitable and till you are confident that you will come out positive on any type of day....but today you seem to have traded relatively large......why so sudden shift ?
Day trading is tough.....you need to be very fast in getting out of your loosing trades and not wait till they hit your stops......margin of error is very small here.....I know it is easier said than done......
Step back for some time and take a fresh look at trading and find out what was missing ,a competent method, discipline to follow the plan, MM,overtrading,frustration,anger.....
Smart_trade
Thanks ST Sir,
Today, after my first two trades i got frustated and got angry which resulted in loosing my discipline and overtrading.
Before my today's last trade, i was in loss of 12000+. In my last trade of icici bank, i was long @ 1033 and at one moment i almost recovered more then 10000/- loss but didnt exited even when stoch signal reversed and hoped that icici will touch 1060 and i will recover my all losses and brokerage too. My total loss for today including brokerage is 17145.21 (brokerage 6910.11)
How can i do this!!!!!!????? I mean, i am loosing and loosing money from last couple of years and not understanding my responsibilities towards my family. Every time i am repeating same mistakes (frustratation, overtrading, getting blind while trading etc etc). I am working in private limited company. Because stocks are my passion and i wanted to make my career in this but i think i cant.
Thanks & Regards!
Following are my today's trade and charts of icici bank & tata motors...
Today, after my first two trades i got frustated and got angry which resulted in loosing my discipline and overtrading.
Before my today's last trade, i was in loss of 12000+. In my last trade of icici bank, i was long @ 1033 and at one moment i almost recovered more then 10000/- loss but didnt exited even when stoch signal reversed and hoped that icici will touch 1060 and i will recover my all losses and brokerage too. My total loss for today including brokerage is 17145.21 (brokerage 6910.11)
How can i do this!!!!!!????? I mean, i am loosing and loosing money from last couple of years and not understanding my responsibilities towards my family. Every time i am repeating same mistakes (frustratation, overtrading, getting blind while trading etc etc). I am working in private limited company. Because stocks are my passion and i wanted to make my career in this but i think i cant.
Thanks & Regards!
Following are my today's trade and charts of icici bank & tata motors...
Hi,
Sorry to hear that. Please go through the following two threads one by one as per order here
http://www.traderji.com/day-trading/30182-how-trade-oscillator.html
http://www.traderji.com/day-trading/40980-my-daytrading.html
Once you feel comportable, please plan to trade only one lot in nifty per day.Dont try more than one trade per day till you feel very confident. definitly you will be able to recover your loses.
All the very best. Take a breath now
Thanks
Bala
Sorry to hear that. Please go through the following two threads one by one as per order here
http://www.traderji.com/day-trading/30182-how-trade-oscillator.html
http://www.traderji.com/day-trading/40980-my-daytrading.html
Once you feel comportable, please plan to trade only one lot in nifty per day.Dont try more than one trade per day till you feel very confident. definitly you will be able to recover your loses.
All the very best. Take a breath now
Thanks
Bala
iam not a success trader bro but i will tell you my small experience.I am also Trade like you frist(Trade High range shares) making profit/loss around rs 5000.But now iam trade only shares under rs 800 and making profit of rs 1000 and some time loss of rs 700.
My points:
1.Dont trade high range shares using Margin
2.Dont trade on same share(i saw your graphs you mostly trade in icici i dont know why)
3.Pls dont buy 100 shares in single order
frist buy only 20 to 30 shares and watch movement to buy more shares or sell the holding shares this will give you only low amount of loss
likewise don't sell bulk first 20 to 30 shares at your target if price goes up it will give more profit else if price goes down you already booked some profit so sell rest at low profit at last you profit only on loss
I think you getting bored but this my experience bro i just want share this because iam loss my half of my capital first and now iam making constant income now
Don't give up your hope
on monday just buy 10 share under price rs 300 don't except big profits look for only brokerage.This move will give you all you need(confident,Patience).
all the best
My points:
1.Dont trade high range shares using Margin
2.Dont trade on same share(i saw your graphs you mostly trade in icici i dont know why)
3.Pls dont buy 100 shares in single order
frist buy only 20 to 30 shares and watch movement to buy more shares or sell the holding shares this will give you only low amount of loss
likewise don't sell bulk first 20 to 30 shares at your target if price goes up it will give more profit else if price goes down you already booked some profit so sell rest at low profit at last you profit only on loss
I think you getting bored but this my experience bro i just want share this because iam loss my half of my capital first and now iam making constant income now
Don't give up your hope
on monday just buy 10 share under price rs 300 don't except big profits look for only brokerage.This move will give you all you need(confident,Patience).
all the best
Gambler, you can make it in trading. The problem is there are some core principles you missed in losing the money. First it seems you may have a tradable methodology. Having said that, I noticed a few things that caused the demise of your account.
If you don't mind me stepping on your toes, trading is a growth process that takes a methodological approach. It is not gambling. Margin management is a vital part of the complete traders' package. I noticed your lot sizes are all over the place, and I know the reason for doing that is hoping to hit it big and instantly regain your losses.
Treat losing trades as just the price of doing business. Manage your lot sizes to the degree that if you want you can just walk away from your computer and still feel good about what you are doing. When your methodology tells you to get out, then get out, regardless of how much you won or loss.
So, in summary. As long as you are convinced of your methodology (What I mean by convinced is that you have such a personal conviction about it that it is the best in the business for you.), then get back in the markets after you take a breather. Manage your lot size to the point you have absolute consistency with every trade, and NEVER look back. That includes when you get the huge winning trade and you are thinking you could have made even more if you put up more. Your lot size should be based on either a percentage of capital, and a straight lots size on every trade. It should also be based on a low enough amount to wear you have a complete comfort zone in your entry. If you have to sit in front of the screen and watch the 5-min chart until you take your trade out, then you have not developed a comfort zone with regard to the lot size.
Also, stop exiting a losing trade and then ext second getting into another. Take time to breathe. Take time to thoroughly examine the charts. Every time you enter a trade you should know why and how you entered the trade. You should have a conceptual idea where the market is headed. When you enter a trade 5 seconds after you close the previous trade on the same market, you did not have time to reflect and go over the charts, and (I'll say it again.) to make an educated decision, not a gamble.
If you don't mind me stepping on your toes, trading is a growth process that takes a methodological approach. It is not gambling. Margin management is a vital part of the complete traders' package. I noticed your lot sizes are all over the place, and I know the reason for doing that is hoping to hit it big and instantly regain your losses.
Treat losing trades as just the price of doing business. Manage your lot sizes to the degree that if you want you can just walk away from your computer and still feel good about what you are doing. When your methodology tells you to get out, then get out, regardless of how much you won or loss.
So, in summary. As long as you are convinced of your methodology (What I mean by convinced is that you have such a personal conviction about it that it is the best in the business for you.), then get back in the markets after you take a breather. Manage your lot size to the point you have absolute consistency with every trade, and NEVER look back. That includes when you get the huge winning trade and you are thinking you could have made even more if you put up more. Your lot size should be based on either a percentage of capital, and a straight lots size on every trade. It should also be based on a low enough amount to wear you have a complete comfort zone in your entry. If you have to sit in front of the screen and watch the 5-min chart until you take your trade out, then you have not developed a comfort zone with regard to the lot size.
Also, stop exiting a losing trade and then ext second getting into another. Take time to breathe. Take time to thoroughly examine the charts. Every time you enter a trade you should know why and how you entered the trade. You should have a conceptual idea where the market is headed. When you enter a trade 5 seconds after you close the previous trade on the same market, you did not have time to reflect and go over the charts, and (I'll say it again.) to make an educated decision, not a gamble.
Thanks ST Sir,
Today, after my first two trades i got frustated and got angry which resulted in loosing my discipline and overtrading.
Before my today's last trade, i was in loss of 12000+. In my last trade of icici bank, i was long @ 1033 and at one moment i almost recovered more then 10000/- loss but didnt exited even when stoch signal reversed and hoped that icici will touch 1060 and i will recover my all losses and brokerage too. My total loss for today including brokerage is 17145.21 (brokerage 6910.11)
How can i do this!!!!!!????? I mean, i am loosing and loosing money from last couple of years and not understanding my responsibilities towards my family. Every time i am repeating same mistakes (frustratation, overtrading, getting blind while trading etc etc). I am working in private limited company. Because stocks are my passion and i wanted to make my career in this but i think i cant.
Thanks & Regards!
Following are my today's trade and charts of icici bank & tata motors...
Today, after my first two trades i got frustated and got angry which resulted in loosing my discipline and overtrading.
Before my today's last trade, i was in loss of 12000+. In my last trade of icici bank, i was long @ 1033 and at one moment i almost recovered more then 10000/- loss but didnt exited even when stoch signal reversed and hoped that icici will touch 1060 and i will recover my all losses and brokerage too. My total loss for today including brokerage is 17145.21 (brokerage 6910.11)
How can i do this!!!!!!????? I mean, i am loosing and loosing money from last couple of years and not understanding my responsibilities towards my family. Every time i am repeating same mistakes (frustratation, overtrading, getting blind while trading etc etc). I am working in private limited company. Because stocks are my passion and i wanted to make my career in this but i think i cant.
Thanks & Regards!
Following are my today's trade and charts of icici bank & tata motors...
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