Hi guys this is my personal experience which I am sharing, I was doing paper trading from 2012 june to 2013 october, in 2013 november I entered real market, from november 2013 to till date, I could not book even single rupee of profit, finally I realized my mistake, so I am sharing here so that, it may help you before taking risk.
1. One should always have stop loss.
( I was not having stop loss, I was just waiting for market to touch my target unfortunately it never happened , I learned as time goes price decreases, I mean near to expiry ).
2. Its always better to gain less than loss.
(It's ok if you earn Rs.10 but don't loose it. )
3. Should not be greedy.
(Set your mind strong and stable before trading about your target, otherwise you can't book profit )
4. Don't believe in all rumors / news, if you have confidence trade it.
5. Never go in opposite direction of flow, with a mentality that miracle may happen luck will not be favorable always :thumb:
6. Overnight holding will be sometimes paining, try to square off same day, until you are confident about tomorrows opening.
7. while setting stop loss make sure that you will not loose more than 5 % of your capital (I never had stop loss because of this, I never had profit .
These all I realized when my demat balance reached Rs. 2500 ( now ) which was Rs. 65,000 in November 2013, hard but true, until you loose money you will not learn.
Never loose money, its paining, Hope Gudi Padwa brings good profit to all members of forum :thumb:.
1. One should always have stop loss.
( I was not having stop loss, I was just waiting for market to touch my target unfortunately it never happened , I learned as time goes price decreases, I mean near to expiry ).
2. Its always better to gain less than loss.
(It's ok if you earn Rs.10 but don't loose it. )
3. Should not be greedy.
(Set your mind strong and stable before trading about your target, otherwise you can't book profit )
4. Don't believe in all rumors / news, if you have confidence trade it.
5. Never go in opposite direction of flow, with a mentality that miracle may happen luck will not be favorable always :thumb:
6. Overnight holding will be sometimes paining, try to square off same day, until you are confident about tomorrows opening.
7. while setting stop loss make sure that you will not loose more than 5 % of your capital (I never had stop loss because of this, I never had profit .
These all I realized when my demat balance reached Rs. 2500 ( now ) which was Rs. 65,000 in November 2013, hard but true, until you loose money you will not learn.
Never loose money, its paining, Hope Gudi Padwa brings good profit to all members of forum :thumb:.