Help me to cut loss

Hi
I lost around 20000 rs in last nifty series due to oct24 crash.I remain 15000,how i cut loss this seies?
2.my main pblm is that even i get 10 pts ups isquare off the position and take profit,and again buy/sell dependng on Nifty movement,due to this i loss bigger profit or need to pay lot of brokerage and even of 7 trades out of 8 are sucess,i lost all money in 8 th trade.Any body help me to recover loss

learn the basic bro, you are doing great, with 7 trades in success out of 8, you should definately make profit, there is no doubt you will be paying lot of brokerage because of multiple trade, but still you will be in profit because you are successful in 7 trade out of 8.

I am myself confused bro, how can that happen, all i can say have a trading strategy without that you will not be able to earn more profit.

best of luck , enjoy trading
rajendrani

It seems to me that you don't have well defined rules for EXITs. i.e .profit exits as well as Loss exits. Brother, don't get fooled by your 90% win rate.. That doesn't mean anything. Otherwise, u wouldn't be asking for help so desparetly. That just satisfies the ego and nothing more. If one is taking small profit, then it is easy to get high winning trades..

My suggestion will be to

1) Stick to one stock or mini nifty. If you can't make money consistently with one then by jumping to many stocks will not make any difference. Rather u will loose much faster becuase ur rules may not fit everywhere.. It is easier to focus on one stock/Nifty and understand it.
2) Stop trading for few days.. and analyse your previous trades. From you contract notes, u can find the time when u executed those trades .. and look at the intraday chart of that day. You will be able to find the mistakes in your entry and exit.
Record those errors somewhere and make your action plan so that u avoid them in future.
Market is going to be there always.. we got to see if our account will be there tomorrow or not. So stop trading until u fix the problem. otherwise, it is just matter of time that remaining 15k are also gone. (sorry if I am hurting your feeling.. but I would perfer tell the truth then sugar coating it).
3) Draw strict discipline of putting stop loss order. I feel, u are getting emotional after entering the trade and keep hoping that it will come back and reduce your loss..
And at some stage, when loss becomes unbearable, you book the loss.
4) Change your thought process - to be fearful of losses and book them quickly.. and use hope on profitable trades..

Durgalove, only u can help yourself.. we all can give u points from our experience but it is YOU.. who makes the difference. So spend time in yourself and fix the problem.

Happy Trading.

durga,

I myself faced this problem many times. In my case it happened when I clubbed intraday trading with positional trading.

1.CLOSE YOUR POSITIONS WITHIN THE DAY.

2.Try to close your positions by 2.30pm.If you have a profitable trade
then hold it little longer.Do not open fresh positions after 2.30 till you
develop confidence.

columbus, i am still trading in cash market and want to soon start trading future market, but please explain the 2 point where you say close your position by 2.30 pm, does this means that after 2.30 pm intraday trade will be a positional trade , confused , sorry maybe a very silly question but would like to know more on this.

thanks,
rajendrani

He means to say Square off positions before 2:30 pm , after that real manipulations starts so sq off trades BEFORE 2:30 pm. Columbus bro i hope am right.

His suggestion is to play in intraday and sq off positions by 2:30 pm. Only if you are in GOOD profits hold positions for next day.

I understand buddy, but we can carry our intraday position till 3.30 pm right, am just curious about that 2.30 pm thats all

thanks,
rajendrani

I am sure his point is to SQ off even intraday transactions by 2:30 pm for newbies as after that the biggies come in mkts and we see huge price fluctuations.

raj,

Suppose at 2.30 your trade is in profit and trend is in line ,hold it for some more time ,you close the trade once the trend goes opposite.

2.30 is considered a TRANSITION point, if market goes down substantially through out the day (pre 2.30) ,all of a sudden it starts rising due SHORT-COVERING sometimes.

cool,

Exactly, but generally I do not carry positions for next day.