So after some days I made a loss(more than my appetite). I was stunned. I thought its just like a game as I had read somewhere “losses are a part of the game”. It took me two complete days to digest that thought that I lost money. I didn't tell my parents about it. Then it became a habit. If I earned 1k for trading almost 3 long days in tension and frustation I used to lose 3 times what I had earned in a single day rather in just 1-2 hours. It was just an addiction. I made same mistakes ,a lot of newbies make - Trading most or all of your capital on a single script in an illusion of huge profits. I must say I hate this sentence from the deepest core of my heart as it had made me broke once.
But learning from your mistakes is the best thing one can do that too in the right time as well teach others the same thing because EXPERIENCE counts man!!!!! EXPERIENCE counts.
Over to the story, slowly as days passed, I lost more and more money and started cursing market for being so rude only with me and started cursing myself for investing a huge amount of money into it. I even leaned a huge amount from my savings account to my demat account without asking my dad.I used to tell my parents only the profits and I never told them my losses. The losses gave me sleepless nights and frightening nightmares. I used to fight with my friends at petty issues. I started yelling at my parents and others for small things.
Intraday wiped out my whole capital and I leaned more. So I started trading with that money. I was sure that I'll make huge profits one day. I was determined to myself. But this time, I didn't trade blindly. Firstly, for some months I read each and every article I found, followed a lot of pages, a lot of people, saw innumerable interviews, met many people for knowledge but I couldn't get complete knowledge anywhere. Then I learnt that I'll have to work day and night and learn each and every aspect of Intraday trading. I left no stone unturned in learning each and everything I found useful.Days passed and I thought I was prepared now. I had learnt some techniques also by then.
I started trading again with full confidence of making profit this time. I was expecting profits this time but still I ended up in losses for days. And that too huge losses this time. Once I remember I lost _k for almost 5 consecutive days. That was it. I had had enough. This haplessly morbid week gave me my worst nightmares. I was dumbfounded. I felt like this is one of the biggest mistake in my life. I was shocked to my core that even after gaining so much knowledge, I was unable to make profits. My passion had become a deathbowl for me by then. I was clueless.
After some days I realised what had gone wrong the second time. I realized that I was lacking experience which was very essential to earn consistent profits. I was lacking discipline which was the second most essential factor after experience which I lacked. I decided to myself, if I earn rs500-1000/day I will not trade after that. Even if I got a very beautiful opportunity to trade after I had earned rs500 in a day, I didn't trade for that day. Same was for the losses also that if I lost rs500 in a day, I would not trade after that as I knew by then that trading in frustration causes overtrading and which ultimately causes losses.
I had decided to master Intraday by then. By hook or by crook, I just wanted to be successful. It was enough now. I had had a lot. I was determined and I started doing my research. Thus my journey of becoming successful which seemed almost impossible at that time started.
TO BE CONTINUED....
BY ABHIRAM DAPKE
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