A plunge in Indian Stock market
- Thread starter sspms2002
- Start date
Today i slept till late in hope that i don't want to see the market drag ITC more down....Alas as i got up..i saw ITC after going up from 354 to 356...it was again at 354...I was feeling miserable..Market was up so much and this laggard was not doing much...I just left it to its fate...
But slowly it gained momentum..and started up journey...i then looked at it around 1 PM...it was already Rs 8 up to 361..
I added 100 more shares there and took delivery of them for tomorrow..
Lets see how well it performs tomorrow...
Stock Traded: ITC
P&L : None (Unrealized profit of 2500+)
TVS Motors was also moving very very well....Not sure about its buzz...
But i will also keep an eye on it...
But slowly it gained momentum..and started up journey...i then looked at it around 1 PM...it was already Rs 8 up to 361..
I added 100 more shares there and took delivery of them for tomorrow..
Lets see how well it performs tomorrow...
Stock Traded: ITC
P&L : None (Unrealized profit of 2500+)
TVS Motors was also moving very very well....Not sure about its buzz...
But i will also keep an eye on it...
NO PLAY..JUST Watched..
All the unrealized profit vanished today in ITC..as the stock after opening higher slid further down slowly to 354 level...
ITC is having high weightage in NIFTY and NIFTY was up in green...but this stock seems not to comply or add to NIFTY's move as of now..
To me it seems like Operators are into it...and they make it move as needed...Any thoughts?
There was so much momentum upwards yesterday and today it was all opposite that too when Market was green...i am just looking to get out of it with minimum loss and start day trading...
All the unrealized profit vanished today in ITC..as the stock after opening higher slid further down slowly to 354 level...
ITC is having high weightage in NIFTY and NIFTY was up in green...but this stock seems not to comply or add to NIFTY's move as of now..
To me it seems like Operators are into it...and they make it move as needed...Any thoughts?
There was so much momentum upwards yesterday and today it was all opposite that too when Market was green...i am just looking to get out of it with minimum loss and start day trading...
You had the trade in profit yday but you didn't get out.. now today u want to get out at the best price.. You see how a strong will and psychological control is important in the market. 
I know you will get out only when it goes deeper in loss.. to an extent that you won't be able to bear the pain and will exit at bigger loss. Few days later, u will see ITC move in ur favor.
Don't worry this is a very common phenomenon and each and every trader has been there at least once in their life time. This is known as "Getting married to the stock" .. you stuck to the loser despite you yourself knowing that its a deadly mistake. Also, many ppl here advised you to get out when you had just about 3-4 points loss. Now you are almost at los of -20 points.. and to top it you have added to the loosing trade.. another deadly mistake.. I wish you get out of this kind of psychology. Remember.. it doesn't matter how many times we lose and how many times we win. What matters is HOW MUCH we lose when we lose and HOW MUCH we make when we win. this one big loss would take several winning trades to make up for the losses.
Wish you the best.. and hope that you get out from this profitably (though cnt say it would happen technically)
Take it as your learning my friend and swear dt u will never commit these mistakes again in life..
I know you will get out only when it goes deeper in loss.. to an extent that you won't be able to bear the pain and will exit at bigger loss. Few days later, u will see ITC move in ur favor.Don't worry this is a very common phenomenon and each and every trader has been there at least once in their life time. This is known as "Getting married to the stock" .. you stuck to the loser despite you yourself knowing that its a deadly mistake. Also, many ppl here advised you to get out when you had just about 3-4 points loss. Now you are almost at los of -20 points.. and to top it you have added to the loosing trade.. another deadly mistake.. I wish you get out of this kind of psychology. Remember.. it doesn't matter how many times we lose and how many times we win. What matters is HOW MUCH we lose when we lose and HOW MUCH we make when we win. this one big loss would take several winning trades to make up for the losses.
Wish you the best.. and hope that you get out from this profitably (though cnt say it would happen technically)
Take it as your learning my friend and swear dt u will never commit these mistakes again in life..
You had the trade in profit yday but you didn't get out.. now today u want to get out at the best price.. You see how a strong will and psychological control is important in the market.
Take it as your learning my friend and swear dt u will never commit these mistakes again in life..
Take it as your learning my friend and swear dt u will never commit these mistakes again in life..
I need to get my psychology straight...
No Play....Only Watched and slept on ITC...
I have been reading/watching some stuff lately...One of them is about Trading discipline....
90% traders lose money and only 10% win ...when we start trading we all think that we are in that 10% category based on qualities we have...indeed we are thinking just like everyone else...and thus we fall in the herd category
or 90% category...
So indeed its discipline that brings people into that 10% bracket...and that takes time...Best traders do few trades and also are very disciplined....
Indeed it has been proven through research that good wanna be traders make money in the morning...and then lose it all or even give some back to market by day end....because they become less disciplined ones in profit..
the same goes vice versa...if a trader is in loss in morning..he would overtrade and make more losses...a scientific study has proven that a RED P&L has twice the effect on our Pshycology that a Green P&L...
So indeed we should trade less/watch more or take some break to bring back a good mindset again when in RED....
I have been reading/watching some stuff lately...One of them is about Trading discipline....
90% traders lose money and only 10% win ...when we start trading we all think that we are in that 10% category based on qualities we have...indeed we are thinking just like everyone else...and thus we fall in the herd category
or 90% category...
So indeed its discipline that brings people into that 10% bracket...and that takes time...Best traders do few trades and also are very disciplined....
Indeed it has been proven through research that good wanna be traders make money in the morning...and then lose it all or even give some back to market by day end....because they become less disciplined ones in profit..
the same goes vice versa...if a trader is in loss in morning..he would overtrade and make more losses...a scientific study has proven that a RED P&L has twice the effect on our Pshycology that a Green P&L...
So indeed we should trade less/watch more or take some break to bring back a good mindset again when in RED....
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Today was the day i was destined for in ITC...
I had bought ITC at 374 around 1.5 month back and then added another 100 at 360...I had bough it in anticipation of a good move during its Earning results...
Its earning results will be declared on 21st jan..
I was holding it up though i was clearly seeing that upside momentum was lost..
though it tried intermittently to go up..but it never succeded much ...owing to different factors...
I had got many chances of getting out with minimal losses..but i was in a biased state of mind..because of all the hype to Buy ITC from different sources...
Anyways today it gapped down 10 points...Yesterday it was holding up nicely at 359-360 level even though the market went down...
Today some bad news flashed and it gapped down huge...there was no chance for me but to get out in morning with huge losses...
My Approximate losses are around Rs 8000-9000...
I then played some stocks intraday...to get into the day trading again..
I made some good profit in MARICO(Rs 2500) and HEVELLS (Rs 891)
Stocks Traded: ITC , MARICO , HAVELLS
Delivery loss: ITC booked today : RED 8500
Intraday P&L : Green 3397 after commissions
I had bought ITC at 374 around 1.5 month back and then added another 100 at 360...I had bough it in anticipation of a good move during its Earning results...
Its earning results will be declared on 21st jan..
I was holding it up though i was clearly seeing that upside momentum was lost..
though it tried intermittently to go up..but it never succeded much ...owing to different factors...
I had got many chances of getting out with minimal losses..but i was in a biased state of mind..because of all the hype to Buy ITC from different sources...
Anyways today it gapped down 10 points...Yesterday it was holding up nicely at 359-360 level even though the market went down...
Today some bad news flashed and it gapped down huge...there was no chance for me but to get out in morning with huge losses...
My Approximate losses are around Rs 8000-9000...
I then played some stocks intraday...to get into the day trading again..
I made some good profit in MARICO(Rs 2500) and HEVELLS (Rs 891)
Stocks Traded: ITC , MARICO , HAVELLS
Delivery loss: ITC booked today : RED 8500
Intraday P&L : Green 3397 after commissions
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I'm also stuck in a similar situation
I bought Torrent Pharma 200 @ 1161 in the hope that it will go up.
Unfortunately, it is going down Now @ 1125.
Will need to keep a close watch tomorrow and make a decision.
I bought Torrent Pharma 200 @ 1161 in the hope that it will go up.
Unfortunately, it is going down
Now @ 1125.Will need to keep a close watch tomorrow and make a decision.
Neverthless...I find that it is a illiquid stock with less volume , so it can give both a good upmove or down move...but it seems it is in Uptrend...and seems like 1115 -1125 is kind of support area from where it may bounce up or may break down...so you can decide accordingly yourself...