Here is my advise :
Stop doing whatever you are doing and exit with what you have.
Don’t come back to market as an intraday trader, unless you change things/approach drastically.
- Let’s say you had 100 rupees to start with. You have lost 90 rupees in a small span of 6 months.
- Now you are left with 10 rupees.
- How much % gain should it take to go back to original capital?
- having 90% loss, so will 90% gains get you back on feet?
- 90% gains now will get you to 19 Rupees.
- Just to get back to square one, where you started. You need 900% gains.
- Yes 900% returns.
Now if you are not Rakesh Jhunjhunwala, I don’t think you are going to get 900% returns even if you put your money in a good stock and hold for 10–15 years. (10 Rs. compounded at 20% rate annually for 10 years still only gives 61.92 Rs)
“The bull walks up the stairs and the bear jumps out the window”
This kind of capital erosion is very scary and is the reason why people are scared of stock market, and many unaware people link it to gambling.
Sorry to be the bearer of bad news, but you are only serving as an example to others to be careful and not make huge mistake.
The biggest mistake this person has done
- NO STOP LOSS
Thanx for reading🙂
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