@aja This post might get you to high spirits again, but few people might not like it.
For those people who say - it is difficult to recover, i beg to differ.
What you only need is a turnover of 8k per month..yes, you heard it right. It is 8k pm only.
Lets say you are now 30 years of age, and seeing your enthusiasm, i am sure, you would love to trade for next 10 years of your life. 8k per month, taken for 12 months a year approx gives 1 lakhs a year. Doing this consistently will recover you close to what you lost after 10 years from now. (NOTE: I have taken just 8k pm. 500Rs for 20 trading sessions will get you 10k !!)
Next - You need to ask yourself -
Why do you wish to continue trading?
If you are doing this to recover your loses, take my word -
Leave it rightaway, as you might hit an even bigger one. Revenge trading never works !! There are better jobs in the world, where you get more than what an average retail trader earns. (Remember the post where you asked, how many earn 1 lakhs pm, and how many answered yes?). However, from an average job, it is very easy to earn 1 lakhs pm.
However, if you are trading for the love of the game, then whether you gain 500Rs or 100Rs should not matter.
Please DO NOT TRADE for money. It never comes to you. Money should be a by-product of sound trading.
Next is, i have seen couple of last posts from you.
Pardon me, but i can see several scope of improvements in your trading approach. I won't point all of them, but
I heard you say have a 50 paisa stoploss !! Stop loss should be put based on the market volatility. It should ideally be a multiple of ATR (the easiest indicator to measure volatility). 1 ATR is what is ideal, or you can target the previous pivot as stoploss. Exit the trade, even before it hits your stoploss.
Next is i heard you say about VWAP. While it is a good intraday indicator, but it should be with a combination of several others (most importantly one of them being volume based indicator and pivot.)
Make a daily goal. If you hit Rs.xx as loss, stop trading for the day, or if Rs.xx+n stop trading for the week etc.
Next is -
Please don't follow any self-proclaimed trading gurus of any forums. I know a few personally, and most are big time losers, who gives so called "gyan" in forum to get a boost of ego, after their big time loses.
It is obvious, if i have a secret money making strategy i would hide it inside the strongest of lockers, rather than sharing it worldwide. (But of course there are exceptions.)
I had shared one of my methods here with a few people to get comments, but soon i realized that doesn't work, and i have completely changed my trading method now from what i shared earlier, and i don't share my trading method with anyone (whether it gives me good results or otherwise).So, i am not sure why anyone else would share theirs, if it is really making them money.
Finally, i am not sure why you get so much of loses, but i will tell you one of the things, which i used to do.
The popular concept of buy low-sell high doesn't work in trading. YES IT DOESN'T WORK.
If something is going lower (it has a good reason), and it might go even lower, you don't know where the support is, similarly is something is high, it might go even higher. Don't think of shorting it.
(Follow the trend - don't go against it - It always works)
Finally, one last unsolicited advice -
If you are an intraday trader, do not trade futures, or rather i would say even equities. Trade with options, and hedge it if required. It will help you a lot.
Sorry for all the unsolicited advises.
Wish you the best, welcome back and happy trading !!