very sad lost in trade

i lost 1,10,000 rupees in trade i am very sad no lost as such this lost for me the poor man
i don't want to trade any more.
anybody have an idea of how to fill income tax itr of lost i trade in equity only with a turnover of 6,90,000 in intraday trade i never fill before

No idea about IT return but did you practice trading in a simulator before live trading?

if you do not want to trade anymore, why do you want to file a return.. in any case you do not have to pay any tax..if you want to carry forward a speculative loss, you will have to offset it with a speculative profit..
since you have decided not to speculate anymore... let it be.
capital loss of xxxxx .... and move on.

regards

May be he is expecting to off set it with other Income.

pakatil said:

May be he is expecting to off set it with other Income.

Click to expand...

don't think he can offset a speculative loss with 'other income'.

Obviously he can not. Law does not permit it.

Which was the lesson you did learn out of this experience about trading and about what you thought it is?

don trade

be happy still u got 6+ account ENJOY

YAK

One of the most important requirements to be a successful trader is psychology.
You need to have a puke point before you get into a trade and be actually able to get out at a predetermined sl level.
Second requirement is money management. Before you put on the trade you should be comfortable to lose the money you set forth for stop loss. If you are not comfortable then it means you risked too much and did not follow money management.

Markets give you expensive lessons.

Learn from it and make sure you understand both these aspects I mentioned and are able to follow them.

You will come out with flying colors. All successful traders I have heard about have burnt multiple trading accounts before they hit it rich.

So don't feel too bad. Take some time away from markets.

Come back with renewed vigor.

At least that's what I am going to do as I lost similar amount myself in the last few weeks

i dont know why most of people lost money in trading and upset after that . i too lost 2 lac just in a month trading and after that i came to conclusion that this loss to me have a solid reason behind ...and the only reason for loss was me only . we easily loose control of mind and try to average our trade and by doing so most of the time we are in loss. after loosing 2 lac rest money was with me only 75000 and i started trading with GannSquare of 9 calculator with strict s loss and now i can say i m in a plus position of 155000 after 4 months trading in nifty . So my advice is whatever technical style you use just be in strict s loss . also make sure that stop loss should be a specific amount of your total networth for the whole day ..