I was in a similar situation few years back. I entered market without any knowledge and started trading on random stocks and in a view that everyone is earning money.
One fine day i bought 100 shares of Axisbank and sold it with 7 rs profits, pretty simple right? Nifty was in upside of 150 points.
Profits was 700, was pretty happy with the first trade, Few more days went like that
- Day 1- 500 profits
- Day 2- 300
- Day 3- 1000
- Day 4- 500
Looks so easy, Why not try trading in futures.
Arranged 1.5 lakh rs. Started trading in Futures.
- Day 1- 14000 profits
- Day 2- 18000 loss
- Day 3- 14000 loss
- Day 4–21000 losses.
- Day 5- 16000 losses.
Loss of 55000 in just 5 trading sessions deducting profits of day 1!
Now the thought was to recover the lost amount and quit trading!
(Every new trader thinks about this)
- Day 1- Loss of 13000 (Again)
- Day 2- 14000 lost
I thought I am finished, can’t even sleep at nights, thinking that my world is finished.
Balance capital- 68000
Cannot trade, can’t even tell my parents.
Still thought came to my mind how the other fellow traders will be making money! Started searching on google about trading, went through some courses and websites to gain knowledge.
For 6 months no trading only learning, made my own trading strategy, paper traded for a week, started with 1 share to test my strategy. 80–90% was the accuracy rate of my strategy, still i tested my strategy for a month.
What I realized is:
- I was not the only one who was loosing.
- Stocks market cannot be taken as granted, its a business take it like a business.
- Intraday trading needs knowledge.
- Intraday trading is all about emotional discipline.
- Stop loss is GOD in all the trades.
- What next, started trading again in Futures with confidence, with my own strategy and with my own stop loss.
- Day 1- 7525 profits
- Day 2- 7000 profits
- Day 3- 14000 profits
- Day 4- 7000 loss (Its ok i have a confidence on my strategy)
- Day 5- 21000 profits.
In just a month everything changed and i started making profits.
Left my job to become a full time trader. Stocks market is full of opportunities but with proper knowledge. Now I am a full time trader and adviser too, advising more than 100 clients.
My advise for you…!!
- Losses are part of stocks market, its normal.
- Always keep on learning.
- Don’t go for random trades without stop loss.
- Always learn to develop your own strategy. Believe in yourself.
Thanx for reading🙂
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