...One of the great
Panipats battle in priyanvada's stock trading life ...
Rs.512 net loss in a single day!!! ... that only with 2488 trading capital...
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... I don't know how many days further I am going to survive here ...
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.... anyway few very good observations for me ...
1. Rigid mindset : - My plan was get some 10 shares in uptrend from A group and if anyone is near or low of its previous close then buy it ASAP ... So that till 12pm it should follow its weekly trend and rise up ... I really trust this method cooked by my brain due to its overall logic....Only refinement I feel is check the market direction ... say check the index ... if it rising things will be very very favorable for me ...
...so more the low more will be the buying quantity ...(How smart!)...
... Plan was executed and i bought shares of some 5-6 companies ... sadly no or downward movement ... Some were increased @ 1% up ... then greed came into picture i wanted them more up so waited and when they fallen down i squared off immediately ...accepting Rs. 3 and 5 and 10 loss ... which was not bad at all ...
... Unfortunate thing was, as the tension to make a move went up... my PLAN got vanished at 11am --as usual (!)... and mind got occupied with
Rolta ...which I had bought at 138 ... it went down to 134 ... 132... then my mind again kept saying buy low and sell high ... so I again bought it around 133 ... finally net price was 136 ... which never reached again
... My mind kept saying market WILL recover ... rolta will touch 140 ... Just dominating emotions ... my intellect was switched off!! ... So finally when I realised It IS a loss my stupid mind is still staying ...
the day closed too soon for market to get recovered ... and it is still focussing on calculating how much I would have made had it touched 140Rs.
... really!!!...
Anyway my intelligence has powered up again now!!...sadly when the market is over
...it never has any interest in profit and loss ... it is only intersted in" pure knowledge" and "answers" to my questions ... So my intelligence is such a beautiful emotionless and brutal thing!!! ... So intelligence suggests first wonderful thing ...
a. Had I took exactly opposite decisions today at those moments "probably" would have made 514 NET GAIN!!! ...
b. Some situations where I made some Rs. 3.5 ,5,11 loss in short period of time ... I hardly had any control over that ... since time frame was too short ... but in case of rolta I was having whole day long! ... I had seen market getting down so instead if buying more I could/should have sold what I have bought and shorted double than I had bought since sensex was going down ... So instead of loss I would have got a winning position ...
c. Only problem was
my regid mindset , which was not ready to change with situations demands...It literally got locked up in "buy at low and sell at high" mindset ... and kept buying and buying and buying ...and it kept on going down and down and down ... and for it to recover the day was too short and distace was impossible ....
d. So only solution I see is just remain flexible with the situation ... take decisions in the direction to flow... then only my probability too win would/should be much much more ....
regards,
priyanvada