A lot of talks about profits--all the time goes around social media, very few talk about ugly side of trading mistakes... Its a lovely evening today, in a relax mode let's talk, post your losses, mistakes. let's discuss some failures of year 2020. #kacharts #learnfrommistakes.
In few mins I will post my all big losses of 2020 so far and learnings.
Did this few days back in group #kacharts, thought to share with you all.
Twice as its 2 ac of almost same cap being managed by algo trading.. All buying and selling price same.
This was 30th july - highest single day intra loss.
1.4cr
Lost in option selling - was aggressive shorts in puts.
Interesting part is - loss was covered in next 2 days
In just one stock - #caplinpoint.
Lesson learnt - do what u have done most and u r confident about.
I m more confident in buy and hold as long as trend continues.
Option selling is just not my cup of tea atleast as of now.
Few more loss making days whose ss i keep as souvenir which reminds me my mistakes. And then there r many more whose ss i forgot to take.
One more ss added.
Net loss 50 lakh plus.
Main dent was given by bank nifty long and other few stocks where i didnt took any sl.
Future trades must be taken with sl.
Non stop profit from few days made me overconfident 😑😑😑😑
Market ne pel diya
Luckily came out at 2pm else.
And this is 2nd account.
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#nifty topped out on 27th sept
on 30th sept gapped down
so first significant bear entry came there- #monday gap
but lets see few stocks where gap happened in either Aug or in 1st week of sept which were easy to catch as a short trade.
#Sail corrected 20% from 30th sept
this stock didn't had any gap down but it was most easiest breakdown patterns we can
1) Never mess with trend 2) Never anticipate reversal unless u get a signals on higher time frame
and most important - In strong trend - never see RSI or divergence especially on upside - u will be butchered.
😎
thats how i used extension to derive bnf target...
either it has to be imp level or it has to be candlestick signal
lets say if i m in trade - i will find out imp resistance zone
and will keep riding trend by using any indicator or swing
like this was support for me as I was in Long trade.
chalo u missed early move and wanted to catch momentum -- check chart 2
above 61.8% momentum
now people say -- day trading kaise karein?
go check the retracement both day
Both day were easy to hit long
u needed to understand trend and where to exit.
both day have suggested long in #innercircle same. #bnf
let me post some 100 #fibbonaci number wonders on long term chart.
Post your chart too with #fibbonaci, make sure chart is clean.
this is number 1 in list #ibrealestate
in 2021 it was one of the hot stock - Infact I was also excited took entry at top despite I was seeing Golden ratio rejection.
what happened next is history.
the very same stock took eyeball again few months back -- people went gaga
even we went long -- but exited sharp at 61.8%
Most of young boys who came to me for Job are-
1)Not even Graduate 2) Think for stock market related Job - degree doesn't matter* 3) No communication skill 4) No Financial Backing 5) Highly motivated from social media. 6) Know how to plot Trendline on name of skill.
We are seriously rotting down our youth - One through excessive use of CC another by Encouraging a lot to Take Trading as profession( its not bad though but not easy though)
Majority of youth build their initial capital either by taking loan from family or from friends or bank
and start trading, majority of them are in Debt as they are highly motivated to Build cap big and hence take Insane leverage and fuck up...