I am in trading from last 10 years but lost tons of money. Tried 8 times:
1. Opened account in July 2004 with indiabulls and earned quite a bucks in few weeks and then lost all due to my broker's ill advices.
Learning: Understand market and then enter
2. Started again in 2006 and searched net, learned few techniques, opened account here and learned about futures. Entered again in market and in few days, lost all in nifty futures.
Learning: diversified in future
3. Started again soonafter and lost all again in few weeks....this time over diversification and more lost.....
Learning: Take a break, read more and learn more
4. Started again 2008...this time in options........ruined my money many times over and over again
Learning: 98% option players lose
5. Started in 2009 with bigger capital...use all knowledge, option chains, other markets, indicators, mix of equity, futures, options........earned well and then in one stroke...lost all..............
Learning: Lack Discipline......did everything using my knowledge but didnt have discipline and patience......cut winners early and hold loosers for long.......
6. Started again in 2011 with some help from tipsters but..........again lost due to lack of discipline........
Learning: Learn from past and dont repeat mistakes
7. Started again in 2013.......sold options ......doubled my capital and lost all again in one stroke due to one past mistake.........Lack of discipline......no SL, averaging and hoping
Learning: None......if i have to do same mistake then whats learnings......none
Then Started reading positive books, started discipline in real life, read more and more., started reading and learning human pschology, how mind works, how behaviours respond, etc.......
8. started in 2014 in commodities but lost 3 times my small trading capital ..... didnt learned yet .....no discipline......
9. Now for making me discipline, first step i took is to involve my wife and told what i m doing, its implications and rules of trading; second step i m taking is to maintaining trading diary here and on my excel.......
Requesting seniors and experienced players like Saint sir, ST da, Raj (big fan of ur option chain analysis). TR (for keeping humour alive), Madhav Reddy (Commodity expert alongwith Discipline), Amit (fan of ur fundamentals), TP and many others here whom i m reading silently from many years
Hope U will guide me too like u guided many others......
Jassi
1. Opened account in July 2004 with indiabulls and earned quite a bucks in few weeks and then lost all due to my broker's ill advices.
Learning: Understand market and then enter
2. Started again in 2006 and searched net, learned few techniques, opened account here and learned about futures. Entered again in market and in few days, lost all in nifty futures.
Learning: diversified in future
3. Started again soonafter and lost all again in few weeks....this time over diversification and more lost.....
Learning: Take a break, read more and learn more
4. Started again 2008...this time in options........ruined my money many times over and over again
Learning: 98% option players lose
5. Started in 2009 with bigger capital...use all knowledge, option chains, other markets, indicators, mix of equity, futures, options........earned well and then in one stroke...lost all..............
Learning: Lack Discipline......did everything using my knowledge but didnt have discipline and patience......cut winners early and hold loosers for long.......
6. Started again in 2011 with some help from tipsters but..........again lost due to lack of discipline........
Learning: Learn from past and dont repeat mistakes
7. Started again in 2013.......sold options ......doubled my capital and lost all again in one stroke due to one past mistake.........Lack of discipline......no SL, averaging and hoping
Learning: None......if i have to do same mistake then whats learnings......none
Then Started reading positive books, started discipline in real life, read more and more., started reading and learning human pschology, how mind works, how behaviours respond, etc.......
8. started in 2014 in commodities but lost 3 times my small trading capital ..... didnt learned yet .....no discipline......
9. Now for making me discipline, first step i took is to involve my wife and told what i m doing, its implications and rules of trading; second step i m taking is to maintaining trading diary here and on my excel.......
Requesting seniors and experienced players like Saint sir, ST da, Raj (big fan of ur option chain analysis). TR (for keeping humour alive), Madhav Reddy (Commodity expert alongwith Discipline), Amit (fan of ur fundamentals), TP and many others here whom i m reading silently from many years
Hope U will guide me too like u guided many others......
Jassi