Hi Guys!
This is Chaudhary from Delhi. I wanted to run by a little hypothesis by you knowledgeable folks.
So, I have been recently bitten by the trading bug and decided to invest my savings in the share market, actually all my savings, right down to the last penny.
I bet most of you have a pretty good idea of where I'm going with this.
Yep, I ended up losing all my hard earned money that I saved up in a year all but in a matter of two days of trading. The savings were in early 6 figures.
About me, I'm a web analyst and have absolutely no background in trading. I thought reading FAQ page on how to place a margin plus order with the help of ICICI Direct's recommendations would be more than enough. Pretty dumb, eh?
Anyways here is what this query is for
I traded on tues for the first time and could have booked a profit but was hoping the graph would keep going up. I incurred a loss of about 30K. Credits Federal Bank margin/intraday.
I took a day off and did my due diligence by basic research about what makes a stock a good stock.
Today was going awesome until Maruti and Sail happened. Since I was trading in margin I ended up losing almost all my remaining savings.
Aside from the usual Study/ Research of the stock exchange and stocks, avoiding intraday in the initial days what are the must-have's to do be successful in trade. Not becoming greedy comes to my mind.
Also this is not the first time that I've lost money while chasing my loses. Although the last time it was in a casino. Coming back to the question is trading not for me? Please leave behind your valuable input.
Asking if I can make up the loss in the next few days is out of the equation, right?
Thanks!
This is Chaudhary from Delhi. I wanted to run by a little hypothesis by you knowledgeable folks.
So, I have been recently bitten by the trading bug and decided to invest my savings in the share market, actually all my savings, right down to the last penny.
I bet most of you have a pretty good idea of where I'm going with this.
Yep, I ended up losing all my hard earned money that I saved up in a year all but in a matter of two days of trading. The savings were in early 6 figures.
About me, I'm a web analyst and have absolutely no background in trading. I thought reading FAQ page on how to place a margin plus order with the help of ICICI Direct's recommendations would be more than enough. Pretty dumb, eh?
Anyways here is what this query is for
I traded on tues for the first time and could have booked a profit but was hoping the graph would keep going up. I incurred a loss of about 30K. Credits Federal Bank margin/intraday.
I took a day off and did my due diligence by basic research about what makes a stock a good stock.
Today was going awesome until Maruti and Sail happened. Since I was trading in margin I ended up losing almost all my remaining savings.
Aside from the usual Study/ Research of the stock exchange and stocks, avoiding intraday in the initial days what are the must-have's to do be successful in trade. Not becoming greedy comes to my mind.
Also this is not the first time that I've lost money while chasing my loses. Although the last time it was in a casino. Coming back to the question is trading not for me? Please leave behind your valuable input.
Asking if I can make up the loss in the next few days is out of the equation, right?
Thanks!