A plunge in Indian Stock market

[sspms2002]

I have read some of your posts. I see a lot of emotions in your posts. Its like Shah Rukh Khan trying to explain what he was feeling when he was trying to enact something. I'm sure you are carrying these same emotions when you are taking trades. Go easy. Its just a trade. Its just money. Its not the end of life if you make a few bucks or loose a few. What is important is that you enjoy the process. Its only when you find the process enjoyable, you will truly succeed. Remember there is not a single soul who doesnt loose money in the markets. What is also so important is that you dont take it so personally. Stop punishing yourself with all these thoughts about what you could have done right. Its only in hindsight that you can say it was right or wrong thing to do. Remember at that moment you felt going long was appropriate and you went long. You lost and its ok. Remember to trust yourself. Dont try to be a winner. Be a winner!

Hehe Thanks Riskyman for that vivid post...I actually am not too emotional...that is just the way i write things....

I hope you live the commentary...

And also i am not worried too much about money of yet..

But yes i do get frustrated when i do the same kind of mistake again and again...

The Biggest of them is not cutting losses/overtrade.....that is what causes that enigma..

 

[Prataap_2013]

After yesteday's news on FDI , i was very bulllish on MEX India and REL CAPITAL...

I had preplanned yesterday that i would buy at open as they would fly just after open...

But i saw practically the saying come true today...BUY at Rumours and Sell at NEWS..


Both the stocks drifted much lower after opening and remained in negative territory..

I Booked some profit in MAX INDIA after it came till 498-499..i LONGED it to ride it till 504-505...But it was a tough ride and the stock came back and drifted lower...i made around Rs 1000 in that

I had preplanned to sell my holding in Max India. But I put the sell price too high and it never came.

But I am still holding at a profit because I got into Max before all the good news about insurance and the restructuring into 3 companies.

 

[Riskyman]

I actually am not too emotional...that is just the way i write things....

You cannot write like that unless you feel emotional enough. So please stop telling yourself that "you are not emotional but its only your writings that carry emotions". How contradicting is that!!

I hope you live the commentary...

Im just as human as you are. I have emotions of course. But I dont let them get better of me when im trading.

And also i am not worried too much about money of yet..
But yes i do get frustrated when i do the same kind of mistake again and again...

The Biggest of them is not cutting losses/overtrade.....that is what causes that enigma..

When you have time, please read your post above . Its a contradiction that you say "im not worried about money" but yet you get frustrated of making mistakes. Like I said a mistake is a mistake only in hindsight. Making a mistake or not making a mistake is leading you to make or loose money. Therefore, your frustration is stemming from "Money". If you made a mistake and still made money, would you be as frustrated? You need to be more clear in your thought process.

Lastly, this is not my business. Its your money, your profits, your loss. I hope you realize that my intentions are only to help and not to give "commentary"

 

[throwawayacc123]

@sspms2002

I have to agree with Riskyman.

It's none of my business , but i have to say you are not taking trading seriously.

you need to keep a trading journal and record all this every single day. you also have to stop repeating the mistakes.

you also need to find an edge and trade as per your plan. you are clearly trading based on emotions and news. Like i said earlier , you are only going to make your broker and govt rich this way.

It's up to you to take this business seriously.

Many have given advice, but you are not acting on it as i see you repeating the same old silly mistakes.

Don't take my post in any wrong way. It's entirely up to you.

 

[sspms2002]

You cannot write like that unless you feel emotional enough. So please stop telling yourself that "you are not emotional but its only your writings that carry emotions". How contradicting is that!!



Im just as human as you are. I have emotions of course. But I dont let them get better of me when im trading.



When you have time, please read your post above . Its a contradiction that you say "im not worried about money" but yet you get frustrated of making mistakes. Like I said a mistake is a mistake only in hindsight. Making a mistake or not making a mistake is leading you to make or loose money. Therefore, your frustration is stemming from "Money". If you made a mistake and still made money, would you be as frustrated? You need to be more clear in your thought process.

Lastly, this is not my business. Its your money, your profits, your loss. I hope you realize that my intentions are only to help and not to give "commentary"

Thanks Riskyman...You just teared me apart...But yes, i might be seeing the picture from a well's frog eye...so any constructive criticism is always welcome...

Yes i also feel that if a trader feels restless that itself is a sign that the he is in a wrong trade or at wrong price....

What i have realized is that good trades doesnot make you jitter much....

But i also feel that venting frustration some times help when you do it when alone...its a way of self criticism...

 

[amitrandive]

Thanks Riskyman...You just teared me apart...But yes, i might be seeing the picture from a well's frog eye...so any constructive criticism is always welcome...

Yes i also feel that if a trader feels restless that itself is a sign that the he is in a wrong trade or at wrong price....

What i have realized is that good trades doesnot make you jitter much....

But i also feel that venting frustration some times help when you do it when alone...its a way of self criticism...

Self-Control Routines During Trading Hours

 

[sspms2002]

Self-Control Routines During Trading Hours

Amit..your above thread is a gem..I would try to go through it from start...

 

[sspms2002]

Today i started late as i was travelling...

But i was not able to find stocks moving much...So i only took one small trade in JET AIRWAYS...

Stocks have come to a good decision point and seems consolidating...

Stocks Traded: JET AIRWAYS
P&L : Green 340 after commissions

 

[Riskyman]

Thanks Riskyman...You just teared me apart...But yes, i might be seeing the picture from a well's frog eye...so any constructive criticism is always welcome...

Yes i also feel that if a trader feels restless that itself is a sign that the he is in a wrong trade or at wrong price....

What i have realized is that good trades doesnot make you jitter much....

But i also feel that venting frustration some times help when you do it when alone...its a way of self criticism...

Take it easy on yourself man . You dont have to take 5 trades and make 700/-. You can take one trade and make 7000/-. The choice is yours. Good luck

 

[sspms2002]

@sspms2002



It's none of my business , but i have to say you are not taking trading seriously.

you need to keep a trading journal and record all this every single day. you also have to stop repeating the mistakes.

you also need to find an edge and trade as per your plan. you are clearly trading based on emotions and news. Like i said earlier , you are only going to make your broker and govt rich this way.

It's up to you to take this business seriously.

Thanks Throwawaycc123...I will start recording my trades from tomorrow...

I will look for a good journal format that captures an essence of trade...
But mostly i am seeing :

Stock -LONG/SHORT - Entry Price - Stop Price - Exit Price - Reason for Trade


Do suggest/advise on the same..