Biggest Loss in SBI - Day Trading

[Raju]

Today have lost 55000/- in SBI , entire capital is out.

Lost because -
1.Overtrading
2.Emotions
3.Not following system - System had not given Sell..but had top sell due to MTM loss displayed...

Let's see if I can make up the lost amount with strict discipline

 

[Raju]

Re: Biggest Lost in SBI - Day Trading

Bought @2554

 

[gunavadhi]

Re: Biggest Lost in SBI - Day Trading

...........................

 

[Raju]

Re: Biggest Lost in SBI - Day Trading

Trail stop hit ..2560..
Profit 226/- ...In this way it would take ages for me to recover

 

[Raju]

Bought @2569.60

In first trade today ..I was indeed a fool to overtrade..

 

[Raju]

Sold - 2579 - Trail Stop Hit..
Profit 165 - After brokerage.

No emotions so trades are coming right..Had taken only 25 numbers to gain confidence and play emotion free..

Learning restarted ....

 

[Raju]

Short Sell @2577

 

[Raju]

Stop Loss Hit @2583

 

[Raju]

Had Short Selled 30@2575
Covered at @2564 ..This time qty was 30..

 

[Raju]

Need to refine the system ...Could have made good profit..But yes happy with whatever small trades done.

SBI closing @2493.....This was suppose to be good day, but due to overtrading have turned it against myself...

Lesson learnt,

Overtrading can turn in loss,wipe all profits earned,reduce confidence which then make u overcarefull and u start doubting u'r system and u go against u'r system and market ...

Hoping to remember this lesson throughout the trading career...

Raju