Dear Seniors,
Need help.
I am a day trader, and should say, relatively good at it. I had been in continuous profit for 3 consecutive weeks.
Last time i traded, when i was off-sick, suffering from food-poisoning and entered a wrong trade, and went for a huge loss which i also posted in tradingqna of zerodha.
After this, loss same day, i touched god, and promised, that unless i have more than thrice the amount in my bank, i won't trade but this mean, i would be out of stock market, at least for more than a year !!
Now, when i am not trading for the last couple of days, i am re-thinking if the decision to not trade this long, is good or not? Kindly advice.
Pros (if i don't trade before a year):
1) I would have gained financial stability being off-market recovering the loss.
2) I can use this time to learn more about stock market, and trading techniques.
3) I can paper-trade, instead of putting real money to back test my strategies, and possibly coming with a better one.
4) I can have a good work-life balance and concentrate on my main job.
Cons (if i trade now without a gap of 1 year):
1) I have traded each and every day, without single day gap for last 6 months, staying away from market seems real-real tough
2) I may lose practice of trading.
3) Coming back after a year gap, may need again, starting somewhere from scratch (at least psychologically, after this big gap).
4) Sounds funny, but my curiosity of learning trading decreased a lot, when i was on a consecutive days of profit, (mentally i somewhere had, why to learn, when i am already getting what i need - money), even i stopped pre-planning trades, the day before !!
5) I might lose again (though less chance) and this will be a big set back, though i won't make the mistake of averaging again, which led to this huge loss.
I am sure, you all must have gone through this phase, being here much longer, so kindly suggest, what is the best way out? Should i break my promise, and re-enter market before a year?
Thanks in advance.
[This post is edited by Traderji to remove url as per the request from the member.]
Need help.
I am a day trader, and should say, relatively good at it. I had been in continuous profit for 3 consecutive weeks.
Last time i traded, when i was off-sick, suffering from food-poisoning and entered a wrong trade, and went for a huge loss which i also posted in tradingqna of zerodha.
After this, loss same day, i touched god, and promised, that unless i have more than thrice the amount in my bank, i won't trade but this mean, i would be out of stock market, at least for more than a year !!
Now, when i am not trading for the last couple of days, i am re-thinking if the decision to not trade this long, is good or not? Kindly advice.
Pros (if i don't trade before a year):
1) I would have gained financial stability being off-market recovering the loss.
2) I can use this time to learn more about stock market, and trading techniques.
3) I can paper-trade, instead of putting real money to back test my strategies, and possibly coming with a better one.
4) I can have a good work-life balance and concentrate on my main job.
Cons (if i trade now without a gap of 1 year):
1) I have traded each and every day, without single day gap for last 6 months, staying away from market seems real-real tough
2) I may lose practice of trading.
3) Coming back after a year gap, may need again, starting somewhere from scratch (at least psychologically, after this big gap).
4) Sounds funny, but my curiosity of learning trading decreased a lot, when i was on a consecutive days of profit, (mentally i somewhere had, why to learn, when i am already getting what i need - money), even i stopped pre-planning trades, the day before !!
5) I might lose again (though less chance) and this will be a big set back, though i won't make the mistake of averaging again, which led to this huge loss.
I am sure, you all must have gone through this phase, being here much longer, so kindly suggest, what is the best way out? Should i break my promise, and re-enter market before a year?
Thanks in advance.
[This post is edited by Traderji to remove url as per the request from the member.]
Last edited by a moderator: