I was suffering in a similar situation few years back.
I shorted 60 shares of Titan. I was in profit but due to some reasons I was unable to square off my trade.
Next day, markets were roaring. Titan shot up 70 rupees. My broker bought the shares in auction market. In all, I suffered loss of Rupees. 46,788.
For next two weeks, I was in depression. I started trading heavily to recover my losses, but in-fact I started loosing more. Even my long term investments started giving me losses.
Everything changed in 1 month. Instead to analyzing market before trading, now I looked at astrology sites to decide whether to trade on a particular day or not.
My losses kept on increasing…1 month before I considered myself as Warren Buffet. now I cursed myself for investing in stock markets. The only happiest days for me in a week were the weekends when the markets were closed.
But soon I realized two important things:
- There is not a single person in the market who has not incurred losses.
- Intraday trading requires lot of knowledge and experience.
I took a break from market for 15 days..no money control, zee biz/cnbc, no nifty/ sensex..
For next six months I stopped doing intraday trading.. I learned n learned.. made my own strategies.. would trade with just 1 share to see if my strategy is working…this continued for six months. I knew I will make losses but profits should be more than losses.
I started intra day trading again.. initially with small quantities..my focus shifted from not incurring losses to earning more profits than losses. In the very first week my profits were as under:
- Mon: Rs. 4225/- loss
- Tues: Rs 800/- loss
- Wed : Rs. 9200/- profit
- Thur: Rs 27055/- profit
- Fri : No trade executed.
In next 1 month I made profit of Rupees 50,000/. Within one year from the day I made loss of 46,788/- my portfolio value had already doubled.
Had that loss not happened I would have been working somewhere for a package of Rs. 3 lacs to Rs. 4 lacs p.a.
Now I earn more than 1lac per month.
My advise for you is:
- Believe in yourself. Everybody incurs losses in share markets. Its normal.
- Find the mistakes made by you. Your loss could have been much more than Rupees. 18000/-. Be thankful to God, may be he wants you to learn more.
- Consider Rupees. 18000/- as a fees paid by you to learn about stock markets. But here you are both the teacher and student. You have to learn all by yourself. There is lots of stuff available on net about stock markets, learn it by yourself.
- Make a intraday strategy. Work on it for six to eight months and then re enter market with full confidence, believe me you can recover all your loss in a single day.
- Don’t invest in risky stocks to make quick bucks. You will end up loosing only.
I hope after few years you will be thankful for having made loss in market and may be motivating someone else.
Thanx for reading🙂
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