Earlier, I have been investing in cash, keeping the stocks for few months and then selling those as and when I needed cash. Recently, I got pulled into this business where I thought I can make some quick bucks by following one of the blogs calls. I observed his blog for few days before taking a plunge. I started with one NF lot without SL (my mistake) in Aug but that never reached at the price of my call, so booked loss of 350 points at expiry. To be honest, there were 2-3 intraday calls which went right along with 4-5 missed calls, but the profit was well eaten by those 4-5 missed calls.
Then I got into Sept series and shorted a NF lot at 4590 in first week itself (i think) and kept on buying some put calls as everybody I read on MMB forum was bearish. Well this turned out to be more disasterous and today I had to cover NF lot at 4985 as I could not take this further as my remaining margin does not allow me to do so, making loss of approx 400 points this time. My puts which were bought for total of 550 points (total) has a remaning value of 80 points today, so total loss so far is 1220 points for last 45 days.
What I have learnt so far:
a. NF Future - only for intraday.
b. Intraday without a Stoploss is a crime.
c. Dont follow any blog.
I would better off not to do intraday but surely I would like to cover my losses. Could you share your wisdom and experience which I can use to cover my losses ?
Regards
Willy
Then I got into Sept series and shorted a NF lot at 4590 in first week itself (i think) and kept on buying some put calls as everybody I read on MMB forum was bearish. Well this turned out to be more disasterous and today I had to cover NF lot at 4985 as I could not take this further as my remaining margin does not allow me to do so, making loss of approx 400 points this time. My puts which were bought for total of 550 points (total) has a remaning value of 80 points today, so total loss so far is 1220 points for last 45 days.
What I have learnt so far:
a. NF Future - only for intraday.
b. Intraday without a Stoploss is a crime.
c. Dont follow any blog.
I would better off not to do intraday but surely I would like to cover my losses. Could you share your wisdom and experience which I can use to cover my losses ?
Regards
Willy