General Trading Chat

[Smart_trade]

First trade lost 40k, second trade was a forced one to recover the loss, which lead to further loss.

For loosing 40 K in a single trade your trading capital has to be 15-20 Lacs....small capital accounts cannot afford to loose 40 K on a single trade.Give some serious consideration to risk control and position monitoring.Risk is a serious business, not to be taken lightly....

Thank God that you lost in thousands and if you commit such mistakes when your account grows , the loss will be in lalks....so think positive form a bad situation and improve.

Smart_trade

 

[vijkris]

For loosing 40 K in a single trade your trading capital has to be 15-20 Lacs....small capital accounts cannot afford to loose 40 K on a single trade.Give some serious consideration to risk control and position monitoring.Risk is a serious business, not to be taken lightly....

Thank God that you lost in thousands and if you commit such mistakes when your account grows , the loss will be in lalks....so think positive form a bad situation and improve.

Smart_trade

st sir, u missed this post.. today 3 lakh lost

http://www.traderji.com/general-tra...68-general-trading-chat-3694.html#post1145651

 

[wisp]

3 lakh lost in two 20 point trades
bhai reduce your NF lots to atleast 1/4 , preferabaly 1/10.
note : that is for you , I myself play with heavy lots options
but 1 NF lot only

Fine print

 

[Smart_trade]

st sir, u missed this post.. today 3 lakh lost

http://www.traderji.com/general-tra...68-general-trading-chat-3694.html#post1145651

I read that later...9 L last year, 3 L today....he must be a son of a rich father....

I sincerely hope that he improves and succeeds in trading...I know the pain..I have lost Rs 5 L in a single day in early days and was hell of a day in my life.

Smart_trade

 

[deba72]

Shorted yesterday @ 7558..didn't cover..covered today @ 7550

Now looking for a pillow again :fatigue:

 

[timepass]

First trade lost 40k, second trade was a forced one to recover the loss, which lead to further loss.

If possible, please post a chart showing your logic for entry and exit. Check my signature for instructions on how to post a chart/image.

Looks like a huge loss, need to analyze it.

 

[iwillwin]

that's a good suggestion. thanks.

It's very imp to reduce position size if you are losing...
Often our mind tempts us to increase position to offset loss in single trade and what not...
U must control ur emotions
Avoid revenge trading.... I too have lost in such revenge trades
Slow and steady wins the race....build ur strength slowly....once you have consistency than only increase position size else u won't have capital to trade...

 

[TraderRavi]

I read that later...9 L last year, 3 L today....he must be a son of a rich father....

Smart_trade

possible but not necessary , money could be earned by him in other profession
lookslike a [Blunder , Plunder, Surrender type trader] like me
in this type of trading , when we say Attack , we forgot sala Rifle ka naal apni taraf hai

 

[cinderblock]

I read that later...9 L last year, 3 L today....he must be a son of a rich father....

Smart_trade

Or "Damaad" with a rich father-in-law

Or rich and powerful mother-in-law

 

[praveen taneja]

possible but not necessary , money could be earned by him in other profession

must be Rahul Gandhi is his advisor