I have lost about Rs.2 lakh in trading whether commodities, shares, futures and options.
I have tried my skill at every market and product except forex which also I am planning to do it shortly.
An IIPM master degree is costing Rs.20 lakhs now. Whatz this Rs.2 lakh loss compared to that? A 10% tution fee to learn many things about market by experience!
Basically I have no big aims to achieve trading markets. I simply try to beat my past results. Thatz it.
To start with, I have blown my first account of Rs.100K account by simply trading intraday Futures and Cash Shares. A/C was leveraged upto 10 times capital. I have paid brokerage + taxes to the tune of Rs.65K in the process which all amount to be my profits.
Tried with gut feeling, moving average crossovers, MACD signals, Tips from paid service, pivot breaks/fades, high/low leveraged trades, revenge trades, etc.
Occasionally I won. A big win one day trade was Rs.4200/-. A big loss one day trade was Rs.6700/-. Infact, I entered a trade with some system, exited with other. Non adhering of made out rules is the cause of failure.
Ofcourse, since it was my first trades.......i made silly mistakes like instead of SL order.....i entered limit orders which got executed prematurely not at intended price. Occasionally SL order jumped and ran behind the price to square up the positions/initiate entry.
Thus I have blown my first account of Rs.100K.
Second account is also funded with Rs.100K. I could not contain my most of the mistakes made in first a/c blow out, but I could attain a bit of maturity in entering the trades and exiting. Still, a perfect trading plan could not be made out. In this a/c, I peeked into a new area of trading.........that is commodities. Traded with Crude, Silver, Copper. I tried positionals, intraday, scalping techniques. The only profit I made in commodities was in Silver Crash.........that is to say Rs.15K in one day..... all other trades were either breakeven or loss making trades. Crude is one of the most volatile one which killed my account with a rocket speed. A consequitive losses of Rs.13K, 15K, 11K almost killed my account.
Many lessons are learnt here too.
A tution fee of Rs.2 lakh + my time of 2 years + internet + systems + data feeds + numerous brokerage accounts for this learning curve.
Now, I have started another fresh account but with a small capital of Rs.20K.
My aim is to beat my past record.........atleast no negative result if not positive return. Let me see if my dreams of becoming a trader keep alive or........get shattered.
I have a plan to do that. If I achieve even 70% accuracy of my trades with my plan I sail through the success boat.
I have tried my skill at every market and product except forex which also I am planning to do it shortly.
An IIPM master degree is costing Rs.20 lakhs now. Whatz this Rs.2 lakh loss compared to that? A 10% tution fee to learn many things about market by experience!
Basically I have no big aims to achieve trading markets. I simply try to beat my past results. Thatz it.
To start with, I have blown my first account of Rs.100K account by simply trading intraday Futures and Cash Shares. A/C was leveraged upto 10 times capital. I have paid brokerage + taxes to the tune of Rs.65K in the process which all amount to be my profits.
Tried with gut feeling, moving average crossovers, MACD signals, Tips from paid service, pivot breaks/fades, high/low leveraged trades, revenge trades, etc.
Occasionally I won. A big win one day trade was Rs.4200/-. A big loss one day trade was Rs.6700/-. Infact, I entered a trade with some system, exited with other. Non adhering of made out rules is the cause of failure.
Ofcourse, since it was my first trades.......i made silly mistakes like instead of SL order.....i entered limit orders which got executed prematurely not at intended price. Occasionally SL order jumped and ran behind the price to square up the positions/initiate entry.
Thus I have blown my first account of Rs.100K.
Second account is also funded with Rs.100K. I could not contain my most of the mistakes made in first a/c blow out, but I could attain a bit of maturity in entering the trades and exiting. Still, a perfect trading plan could not be made out. In this a/c, I peeked into a new area of trading.........that is commodities. Traded with Crude, Silver, Copper. I tried positionals, intraday, scalping techniques. The only profit I made in commodities was in Silver Crash.........that is to say Rs.15K in one day..... all other trades were either breakeven or loss making trades. Crude is one of the most volatile one which killed my account with a rocket speed. A consequitive losses of Rs.13K, 15K, 11K almost killed my account.
Many lessons are learnt here too.
A tution fee of Rs.2 lakh + my time of 2 years + internet + systems + data feeds + numerous brokerage accounts for this learning curve.
Now, I have started another fresh account but with a small capital of Rs.20K.
My aim is to beat my past record.........atleast no negative result if not positive return. Let me see if my dreams of becoming a trader keep alive or........get shattered.
I have a plan to do that. If I achieve even 70% accuracy of my trades with my plan I sail through the success boat.
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