Intraday Treading

Hi Hivers, hope everyone is doing great, I just wanted to share an experience of intraday trading, which I started last year in February.

Before starting with it, I used to go through some YouTube videos to learn the day trading, which was really helpful and I use to ask my friends and colleagues whether they are also part of the day trading, and guess what I could find some friends carrying good and bad experience in day trading. After gathering some basic knowledge of it, I started with it.

The very first day when I brought some intraday shares I was scared and excited too, and before market closes I sold them with some 500 rupees profit, and then next day bought some more shares and sold them again with some good profit, atleast for a month I did the same thing. While I was enjoying it, I completely ignored learning and paying some attention and time to increase my knowledge on it, which eventually turned to be a huge mistake. I just started buying the shares and selling them without checking on them.

When I started earning more than 2k-5k in a day, it boosted my confidence and I thought I can now blindly buy and sell. I was not aware of consequences resulting my overconfidence and lack of knowledge made me to pay a huge loss. I started booking loss day by day. I thought it will get better and I will be able to overcome the loss but no, it gotten worse and when I calculated the total loss was over 40k.

Each day I bought some shares thinking that I will just recover the loss and STOP INTRADAY. but the loss was increasing day by day.

And finally my husband explained me about it, that either you start learning about it and then invest or drop the idea of doing it. Then I realised that I was not able to spend much time reading about it so I had to stop my INTRADAY.

Below are the points which I learnt by booking loss:

1. ❌ Don't start it with less knowledge.
2. ❌Don't be greedy (don't hold the share just for some profit, you might get loss as well.
3. ✅There are a lot of study material on YouTube just go through them before starting or may be read on some books).
4. ✅Learn well about buy and sell timing.
5. ✅Check the stock market before your trade.
6. Stay focused, have patience.
7. You cannot predict the market, be ready to bear loss as well.

Long story short
Don't start anything without its proper knowledge.

Please share your experiences as well. How it started and how did it end. Also share your valuable learnings with me and others as well.

Thanks for reading, happy hiving
PC: moneyexcel