Tell how u lost ur money.

[mark_sas30]

MARKETS doesn't work on theories, WE ASSUME

 

[augubhai]

When I report that I lost money, the cops ask me tell them how I lost my money. But after hearing me they tell me to be more careful next time, and don't even take an FIR

 

[augubhai]

I lost ... during 1st 6 - 8 months ... as I did not understand the rules of the game ... I neither had MM nor ED .... Did not know that using higher TF's is better .... Did not know that one should not trade when the liquidity is low ... Did not know the importance of liquidity in the market ... Did not know how to use trailing SL .... Profits came down ... did not close losing traders earlier ... Hoping, praying and dreaming that it will yield profit ... ooopsss so many reasons ..... Now, when I'm making money, only two reasons ... MM and ED .... it is not fair I guess ... so many for failures ... so very less for success ...

What is ED?

 

[throwawayacc123]

What is ED?

*******************

 

[amit44]

Good one .

 

[tmwizard]

main contributing factors to my losses is not putting a protective stop order for my trades... this has happened a lot of times.

for example, i would have bought something at 8000.. i would know that if the price goes below 7900, then it might go even further... but, due to my bad habit, i wouldnt have put a protective stop just below 7900.. when the price keeps going below 7900 and goes even further down, i will end up just seeing my screen with a hope that it will come back up.. finally i would be closing the trade only at a much losing price.. may be 7750.. if i had put my stop order when i entered the trade and followed it, i would have limited my losses..

 

[sandeepnaga2000]

Old thread... but still, I would like to add how I lost my money.
I am a "just born" in the market. I started trading only in the month of March 2016. I knew/know nothing. Let me share my story with you.

My capital is very very small and it still is. Just Rs 10000. I opened account with geojit. On my 3rd trading day, I came to know that Geojit gives something called buying power BP, which approximately is 30 to 40% more than your cash balance. For me it was 100% more, may be because I am prone to make mistakes, may be.

So, I looked at this stock Lupin. As I told, I knew nothing. I checked "activity with more volume" in geojit and chose Lupin. To be honest, I neither know what Volume is nor What activity with more volume is.

On my 4th trading day,
22-Mar-2016 Qty 3 Buy: 1537 Sell: 1544 Profit: 21 Brokerage:7.65
It looked okay for me. 13Rs Profit. Cool man. Thought, Go with stocks which are active with more volume, thought I dont know what it is.

On my 6th trading day,

28-Mar-2016 Qty 1 Buy:1510 Sell:1495 Profit: -15 Brokerage: 0.9
28-Mar-2016 Qty 1 Buy: 1510 Sell:1505 Profit: -5 Brokerage: 0.9
It looked Okay again. Thought, You loose. loosing is alright as we earned some profit already. Lets gain from where we lost some other time. (Dont do this.)

On my 7th trading day, 29th of March, here comes the disaster. In the order of quantity, Buy, Sell, Profit/loss, Brokerage

10 1404.45 1292.6 -1118.5 8.09
1 1382 1310 -72 0.81
2 1398 1345.6 -104.8 1.65
2 1333 1336 6 1.6
1 1451.65 1477.05 25.4 0.88
1 1470 1374.4 -95.6 0.85
1 1451.65 1385 -66.65 0.85

Lesson learnt hard way:
Never use buying power.
Never try to gain from where you loose.
Never think you are right.
Never never never think that your strategy is correct and you implemented it wrong. Its your strategy which is wrong.

I learnt that there is something called stoploss, But till date, I dont know how it works and how to implement it in NOW. I will learn it.

I learnt that there are things called panic selling. You need to see volumes to understand if a downfall or nosedive is panic selling or actual downfall.

After learning about panic selling, I am now using it for my strength. I am betting unreasonable low prices on some stocks, who knows it may hit or may not. I dont have much to loose in that case. Market may prove wrong. But its okay. I will learn from it.

 

[osho343]

not sticking to desciplane or goal which is pre set
intrday is all about news rumours currency index
timing of US/other region timing open and close
datas

 

[sphameed]

Trading is not game its truly smart business
Plan to fail (stoploss) fail better.
Never plan your target always plan stoploss.
STOPLOSS must you know two word where and why.
trade or not but never forgot to read chart (live market better) one day you know price where going thats day all yours...
Loss is part of the business nothing to worry but need patience.
No need you remember your winning strike but never ever forgot your losses. losses are your lessons.
In traderji have plenty of experience and advice from seniors seek it feel it start study and find range bound market and away from that (90% day traders loss money over trading on range bound market in the evening they got nothing )
Your goal is there no one crossing you except one that is your emotion.

sphameed

 

[sumosanammain]

You need a point in the day where you would accept that your System is not working on that particular day, and you should stop for the day
My worst day was when I was trading Nifty futures, and took multiple losses back to back, a lot of them, realising later on that I should have stopped at some point.

After that day, there is a percentage of my Capital that is risked per day. Never more than that