I too used to lose like you did but then decided to quit day trading and instead buy stocks at lower levels and wait for it to rise and then sell them. I think that is what you should do or else you should have money where you can go short on say 5000 TCS or 20000 maruti.
I fully agree with the article of Mr Amit K. I have also experienced the similar saga with some differences. The differences are- first- that i did not play like a day trader but it was delivery based. The second is that it is not only shares but mutual funds and other "attractive" investments like Maxworth's land units, Sterling tree magnums etc. I have also paide IT penalty. I have reached the conclusion that this game is not for people like me (i can't say for others). Nonetheless a part of me keeps telling me that THIS TIME i will make up the loss and hence continue in it. Good to know that there are others also like me - even in this period when the business channels and business papers are highlighting the historic highs of sensex/ nifty. Regards dilip
Dear Dominique, I m indeed feeling very very sorry for the unfortunate incidents that have taken place with u as far as the stock market is concerned.I definitely hope that u would be able to make a good comeback and nt only Break Even but make good amount of profites as well.U know y? Because at least u know where u went wrong.U were humble enough to admit that u lost money because of ur own mistakes.A person who admits his own mistakes is already on road to recovery. I have also just started trading on the market.I am a Chartered Accountant by Profession.Being a professional,we have been taught to always go by the fundamentals and lesser by technicals,though I don't totally ignore techical movements.I normally go about investigating into the fundas b4 investing.Its boring but it reaps rich dividends mind u ..!! U will never repent u did it..look into the financial statements and monitor its performance and ...normally....unless u r absolutely sure ..never day trade frequently.Also try to conserve some amount of ur gain and invest the rest .If u give the entire gain to the markets ,u r again risking what u earned right? I might be wrong but u can always get back to me.Thanks.
rarely do you come across such a well-written, informative and simple jargon-free article on the stock market. I applaud the writer and wish he keeps illuminating novices like me with more such articles.
