Saturday 7 March 2020

Well its not a success story but a incident which made a place in my memories.
Once on janmastmi day at 5pm i was looking for some trade in gold ,meanwhile i got a call on my mobile she told me she was from some advisory company who gave calls on commodities. She told me a free trial call and told me a stoploss of 10000 and profit of 15000.I initiated the trade with strict stoploss.After 5 minutes gold fell 60-70points i was reaching near my stoploss i waited and after some time i hit the loss of 10000.i call the number from where i got the call,the girl on the other side told me that my stoploss hit because the market became too volatile.
She told me to again buy 1lot gold but not to place any stop loss .I dit it.Now market started to show its colour on the trader.Soon the market dipped by 150-200 points .I called the number again but this time it was switched off .I got panicked.I called my agent to increase the leverage .till this time my mtm was -55000 .To recover this i averaged it with 2 lots.Now i was having 2kg gold on buy side. It took no time to reach my mtm to -115000.
I called my friend pulak he was a regular trader in commodity. He suggested me to reverse my position i followed him with a increase lot 3kg gold on sort side .i closed my trade when my mtm showed -17000.
That day i did 6 kg gold transaction whose comission made my total loss of 25-28k.
------This incident taught me great lessons that day which i still remember.

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