Yes ! I have sold at profit when the right time came. But each time I sold I ploughed back all the proceeds into the stock market again so my gains will always be notional despite selling. Any comments? Jaidi
I am a tiny investor with annual income of around 1.5 lac . I have been investing in stock for last 12 years . Many companies in my portfolio disappeared during first 5 years . My most recent bitter experience is a loss of Rs . 70,000/- on a single trading session . At 10-45 i made a profit of Rs.3025/-through day trading ( in 40 minutes purchasing and then selling the whole 500 shares of Cybermedia ) . When i saw the scrip contnuing upward move , i thought it would hit circuit at 114 and then return . So, i short sold at 113 . But to my surprise its circuit was at 20% and thus it moved to 127/- circuit filter and never moved down .So, i could not square up my exposure and for next three days it hit new circuit filters and i faced auction . result , i lost 70,000/- . Can anybody advice with justification ,whether i shoul continue investing and day trading ?
I am very Curious to understand as to WHY Mr. Y. Anand the Author has been making SAME Mistakes. There is an Old Chinese saying: " Who can deny that all will be Wise if things happen Twice". Not Mr. Anand after his 1992 experience.
He seems to have read Warren Buffet and Peter Lynch but not put any of his reading to use! Every one should get First hand experience to know what it means. This applies to Certain Things Only - to name one Or Two - having Sex or eating a particular Sweet. Not necessarily for Burning ones own fingers with Fire Or Stock Market. If you read a Sign " Loose Wire giving Electric Shock or Wet Paint" just veer around and go. Don't Touch. Here we don't need the Chinese Proverb nor things to happen twice!
Learn from Others is the Moral. Hopefully he would have made up some bit from the remuneration for this Article. Some Solace to his Family.
RE:WHY? Why Mr. Y. Anand?
by manoj on Jun 01, 2005 10:49 PM
hi sir, wat u wrote was good, but lets appreciate he wrote a article on how he lost when everyone was writting abt how they earned, we shudnt be pointing out things like, 'solace to family' n stuff, lets appreciate the gentlemen's gesture to share even his mistakes with us.
Hope you made the conversion of lakhs to millions correctly??? Judging by what you have written, you are bound to loose. Unless you had 10 crores, you are not a millionaire.
RE:Check your math
by Ann on Jun 01, 2005 05:59 PM
Hi, I think you need to check your maths. You don't need 10crs. to be a millioner, you just need 10 lacs to be a millioner.
RE:Check your math
by Rajesh Arjunlal Jaisingh on May 31, 2005 09:55 PM
Looks like you are the one who needs to correct the perception of what a million is!!!!!!
A million is One followed by six zeroes, the Indian denotation of which is 10 lakhs... not 10 Crores!!!
Looks like you have some real stretch targets in life... what with it taking you 10 Crores to just make a million!!!
This article, is good and applies to most of the Middle class people.The exit point, is very critical and most of us get stuck to it. Basically because of attachment, Man does not want to leave what he feels precious to him- lets learn it from Bhagwad Gita. Therefore I feel that just has he has to control his five senses, for a good living, the sense organ of greed needs to be controlled. An investor needs to make his mind what is the percentage of appreciation he expects on the scrip- may be 15 to 20%, sell off and enter again at a lower level. Therefore holding scrips for a long time is not good.Constant booking profits and reshuffling portfolio is an healthy sign.
Well Getting out with profits is good, but it should be at right time. Moreover, dont wait to sell all, as the stock rises you can make partly profits by selling like 25% of stocks, thus reducing your effective bought price. Keep reducing the number stocks you carry at right times.
Secondly, try to do mechanical trading, using heart in market is too risky. You should know your entry and exit points very well and look out for various supports and resistances for that.
I am too trying to learn, maybe one day I will stick to the art of fundamental and technical trading.
