Hello

#1
Hello Friends,

Greetings to all of you from chennai.

Started investing in stock markets from 2008 using ICICIDirect.com. Buying and selling in minimal quantity and making little profits after paying brokerage firm.

I found that the brokerage was high for little volumes that I do and then switched to Rmoney. At the same time, I tried out day trading doing trading mostly in Bank stocks (ICICI). Made some quick money and ever day for some time. I was all praise for day trading until I made losses and all the profits I made vanished.

Read from the sites that trading in individual stocks was risky and then wanted to do nifty. So I begane FNO - trading mininifty. Call it beginners luck -- I made some profits. Until May election results. Were I was holding short positions :( in mininifty -- I made huge loss when the market sky rocketd after elections results.

I decided that it was because that I was doing it all alone and wanted some professional help. Hence I started a offline trading account with 5paisa.com with one of the broker here.

Put in some money only to see that the staff in the broker house started to trade in my account only to gain / and lose the money everother day. At the end of the month I was in loss :( soon I transferred the amount out of the trading account.

Failures everwhere. I stopped trading and decided that I would go back to my previous setup of icicdirect + buy - hold - sell stragegy. Things were slow. and One day one of my friend intruduced me to Options trading !!

Hearing that Loss was minimal (for only premium amount) and less capital - I thought Options trading was for me .. Beginners Luck once again was on my side. Made some Money till I started to overdo it. Traded in Huge quantity on strike prices were premium amount was less. (i had little / still have little knowledge) of Options.

When the asian markets went down recently so did my Option positions I was holding only to see my capital vanished ~!!! :(

This is my sad story..... how stupid was I to do all these without knowing what I was doing..

Lessons learnt:

I learnt that the for the huge number of people who put in their money in stock markets only a few gain.

Its easy to loose money in stock markets than any where else and you could do it much faster.

So whats a looser like me doing here ? !!! Acquire Knowledge !!! the lack of which was the No 1 reason for the state I am in.

This is my first post to this forum in all the years I have been registered.

Thank you and Good luck to you all.
 

Class

Active Member
#2
Hi rakarthik,

First is to admit we were wrong, second is to realise we ran too fast before getting the basics, third is to commit to getting the basics in a solid fashion before proceeding again.

Start with Beginners Guide, learn all the basics, re-run all your previous trades on paper to see where you went wrong, much easier with hind sight, then paper trade until your eyes are sore and your profitability is consistent before reentering the markets.

Hope this helps some,
 
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