Crude oil scalping diary - TMA style

gautam7821

Well-Known Member
#21
All revenge trades were done and the loss stands at 50k (Actually from 1 Lakh, I made 30% return and now I lost all and I stand at 70k capital)
Whatever is in my head, I am not able to put it in the execution.
All profits went away today
Trading big lot size has increased the loss
Now I can still trade big lot size and try to get my money back, but I assume now it will be pure gambling, so want to re think about my trading plan
First, you are far away being disciplined. Do not do emotional trading. Stop for today. Sit and review your entry point and find where all go wrong.
 

bashasm

Well-Known Member
#22
First, you are far away being disciplined. Do not do emotional trading. Stop for today. Sit and review your entry point and find where all go wrong.
Yes, all I see were revenge trades
I will try and do something about trade plan, but this was bound to happen as I traded huge lot size
 

bashasm

Well-Known Member
#23
Over Trading – Overtrading is done when either you are in profit or in loss. You overtrade out of greed when you are in profit and you overtrade out of fear when you are in loss. More the trading more the small profits and bigger the commissions you pay to broker. Eventually you are robbed off your capital by yourself.
 

bashasm

Well-Known Member
#24
Revenge Trading and not accepting your losses – Traders should learn to accept their losses. It is said that “If you don’t take small losses, eventually you have to take the mother of losses”.
 

gautam7821

Well-Known Member
#25
Revenge Trading and not accepting your losses – Traders should learn to accept their losses. It is said that “If you don’t take small losses, eventually you have to take the mother of losses”.
Point to be noted. I will paste this in my signature.
 

bashasm

Well-Known Member
#26
Not trading as i need to clear my mind and finalize my trading system or rules
 

TraderRavi

low risk profile
#27
Revenge Trading and not accepting your losses – Traders should learn to accept their losses. It is said that “If you don’t take small losses, eventually you have to take the mother of losses”.
Three times I got huge losses in crude oil. In two trades crude was in uptrend and then started falling , I shorted and after some time crude reversed but I did not took loss instead shorted more and more at higher levels but crude did not allowed me to breakeven after averaging. booked big losses in the end.
Once crude was falling and then gave a bounce , I bought and then crude reversed , bought more and more, crude fell like no tomorrow, booked big loss at the end.
Crude bahut kamina hai, jo trap ho gaye unko poora nichod deta hai :banghead:
In all these cases if I had not averaged , the losses would be 30% of final loss , as lots increased & losses increased.
 
Last edited:

gautam7821

Well-Known Member
#28
I am just quoting haruns' suggestion when I increased lot size to average my loss position. Once I was hesitant to cut loss positions that lead to huge loss. His guidance help me a lot.

it clearly shows you are doing martingale. which is risky and it is a sign of emotional trading. keep your bets constant as no one trade is better than other. every trade is just another trade as you cannot know the outcome of next trade so no greater emphasis should be given to any trade.
 

bashasm

Well-Known Member
#29
Three times I got huge losses in crude oil. In two trades crude was in uptrend and then started falling , I shorted and after some time crude reversed but I did not took loss instead shorted more and more at higher levels but crude did not allowed me to breakeven after averaging. booked big losses in the end.
Once crude was falling and then gave a bounce , I bought and then crude reversed , bought more and more, crude fell like no tomorrow, booked big loss at the end.
Crude bahut kamina hai, jo trap ho gaye unko poora nichod deta hai :banghead:
In all these cases if I had not averaged , the losses would be 30% of final loss , as lots increased & losses increased.
How did you overcome this habit of averaging?

In my small experience, one loss will change my behavior and I eventually end up taking more loss or do some sort of gambling

I don't know how many people would take every trade as a unique opportunity

In my case, I should have continued trades even after my heavy losses, as losses and profits are bound to happen, there is no particular order. But the emotional pressure when there is a huge loss is unavoidable.

To add insult to injury, office and family pressures, keep oneself from getting the success. But at the end of the day, it is one's destiny to get the success, no Excuses shall stop him in the way.
 

marimuthu13

Well-Known Member
#30
How did you overcome this habit of averaging?

In my small experience, one loss will change my behavior and I eventually end up taking more loss or do some sort of gambling

I don't know how many people would take every trade as a unique opportunity

In my case, I should have continued trades even after my heavy losses, as losses and profits are bound to happen, there is no particular order. But the emotional pressure when there is a huge loss is unavoidable.

To add insult to injury, office and family pressures, keep oneself from getting the success. But at the end of the day, it is one's destiny to get the success, no Excuses shall stop him in the way.
Forgot about winning habits or discipline...

Very basement is money management , where you are risking 10% per trade , untill u correct this nothing could be improved...
 

Similar threads

Zerodha – Open Paperless Account

Open online account with Zerodha. Free delivery trading and Max Rs 20 for Intraday, F&O, Currency and Commodity Trading. Intraday High leverage with MIS, CO and BO.

Name:Phone:
Email:City:
State:
Are you a day trader?