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Topic: Mistakes we made-How we lost our first million(s)?

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Ajith Senior Member Joined: 06/Aug/2006 Location: India Online Status: Offline Posts: 1284	Posted: 07/Sep/2006 at 11:11pm
	A few things I wish to share from my mistakes and gains in shares: 1.Sucess is bad because it makes you overconfident' 2.Diversify widely.There are plenty of opportunities and a concentrated portfolio will narrow your thinking. 3.Ideally we should be investing to make money and not for work as an end so buy those shares at great prices that you need not sell unless you have to. 4.Most importantly,look out for the greatest opportunities,the biggest multibaggers and grab them and stick with them. 5.Keep sufficient safe liquid reserves no matter how great the opportunities.
	Ajith
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monu_duggad Senior Member Joined: 07/Sep/2006 Location: India Online Status: Offline Posts: 289	Posted: 08/Sep/2006 at 12:30pm
	great to hear such experiences....so much to learn....basantji...what went thu your mind when you saw those 7 baggers and 20 baggers tumbling down ?..also any experience with derivatives n f&o ? or to stretch further...commodities?
	If you think you can,You Can
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basant Admin Group Joined: 01/Jan/2006 Location: India Online Status: Offline Posts: 18403	Posted: 08/Sep/2006 at 12:51pm
	Nothing I felt sleepy the whole day long. You know I slept with the closing bell at New York and got up with the opening bell at Tokyo. On a much serious note I thought that I am finished and never ever in my life would I be able to make that kind of money again. But I persisted without looking at what could happen and 9/11 came as the biggest boon to me. At that time I had encased all my insurance policies to invest them into the market and I received the cheque a few days before 9/11. I have looked at life this way. Say you have Rs 10 and Rs 50 is what it takes to make a decent living then bet this whole Rs 10 (judiciously) so that at least you stand a chance of getting to Rs 50 because Rs 10 in any case is meaningless. So when the twin towers fell I was invested but this new money that had just come was with me. I bet big with software post the fall. SSI at Rs 105 and HCL Tech at also the same level. I pledged these shares at the Bank and bought more of the others. These stocks doubled in 4 – 6 weeks and I shifted to something else. In about 3 months I had made a decent capital by selling out and getting in. Made some money in Polaris as well. – Pure luck I would call it today.
	'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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BubbleVision Senior Member Joined: 05/Aug/2006 Location: India Online Status: Offline Posts: 3142	Posted: 08/Sep/2006 at 2:05pm
	Effectively, you are trying to imply that the market "GODS" saved you. Congrats... Much to learn from every entry in this topic. I actually started my stock market career on Sept-11 2001. I went Long Sterlite Optical Futures (it was in F&O Then). during the day and was sheduled to travel to delhi the same night. I was just 20 then. When i came back after a week, I saw that my initial Capital was lost and so was my trading virginity. It was then i decided to learn and read as much as i could on the markets. I made good money in the fall of 2002 and early 2003. I made money on sterlite Opt by shotring the stock until the day the stock was taken out of F&O, when it was Rs 35/- Odd. Infact (still) my best trading day has been 10-Apr-2003, when INFY (down 30%) and Mastek (down 50%) Cracked. I was short and made a ton of Money. This gave me a bearish bias. I subsequently missed a part of the original rally in sensex from 2900 to 4500. Since then i am always balanced (In my analysys and also in portfolio). I still always have one short or another to balance my portfolio. I am basically an index Trader, but do keep shorts for an unexpected Fall (when the underlying bias is bullish) in the market to reduce the sharp ratio as well as the risk. Last year and earlier this year, The best shorts were ArvindMills And Polaris. Currently i am short on Hero Honda. I am a Technical Analyst now.
	You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
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monu_duggad Senior Member Joined: 07/Sep/2006 Location: India Online Status: Offline Posts: 289	Posted: 08/Sep/2006 at 5:36pm
	great basantji what you did needs mountains of convication and courage...dint your family and friends oppose you ,fearing a disaster? bubble...great..i think index trading is comparatively safe...rite?.hero honda..many people are bearish on it...fundamentally also this stock looks bit weak thanks to lower than expected august numbers..plus TA's are also bearish on this stock.....whats your current take on index? short or long ....going by whats happening in global markets.... even IT sector..whats your view in short term....i read conflicting reports today on TCS..karvy in its morning newsletter advised traders to short IT stocks(tcs infy wipro satyam etc) and icici advised people to go long on tcs futures....its always helpul i guess to look at what is happening in f&o sector before making a final decision
	If you think you can,You Can
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basant Admin Group Joined: 01/Jan/2006 Location: India Online Status: Offline Posts: 18403	Posted: 08/Sep/2006 at 6:13pm
	Yes you guessed it correctly. My family was against it tooth and nail. But once I was in it they backed me when things went off hand temporarily. For instance they would morally boast me when the Bank called in for margins I was leveraged (up to my neck) with Bank finance in 2001 and needed the NASDAQ to close higher so that my bank did not call me for margin. I played the "game" in the way I told you Rs 10 is meaningless if I am looking at Rs 50 for a decent standard of living. All throughout the last 5 years My investing strategy has been one where I have wanted to play the risk with the reward. I do not play blind in the sense that for each of the companies that I have invested I have read the history of how the global peers evolved and then comparing strategies. In one of the companies that has an internet presence I am anxious to know from the management as to how they would increase revenues and values. I have also tried putting my strategies across and they have been listening and improvising significantly on that. You do not need conviction when you have not made any money. You need tons of it after you have made it because then there is the risk of losing all or a substantially part of it. Edited by basant - 08/Sep/2006 at 6:14pm
	'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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BubbleVision Senior Member Joined: 05/Aug/2006 Location: India Online Status: Offline Posts: 3142	Posted: 08/Sep/2006 at 6:44pm
	Hi Monu...I like to trade the index as the EOD volatility is much less.. something which is suitable to my stomach. Yes, i would agree, that one cant make multibaggers out of index, but we can make decent return, as we can use leverage. HeroHonda.. i am short as i dont expect that one to rally more than the market.. i am trading that as a hedge, to decrease the overall protfolio volatility. It does not need to fall. It can stay stable and i am happy. IT sector.. is currently the best sectoral index currently (from a more longer term view.. Not an intraday or a 1-2 day view). It is a buy and i would rather buy CNXIT than any stock specific. Yes, the volumes dry up when the market falls, but then we can short Infy, as that is the largest weight on the index and if that falls, then the index Falls. I generally dont follow any stocks on charts as i am working with Currencies. There i am bullish on US$.... with a 1-2 years point of view as long as the $-Index (85.55) is above 84.00. (monthly close) That would be additional source of bullishness for the software sector. I see the Euro-$ trading AT PAR in 1-2 years.. from 1.2678/82 currently World Index -- i track that very closely and have to admit, that is not nearly as bullish as the Indian Markets. India was the best performing index in the world (after Morrocco which was up 10%) and gained 8% in August. The EM index gained 2% (approx) Edited by BubbleVision - 08/Sep/2006 at 7:08pm
	You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
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manishdave Senior Member Joined: 05/Aug/2006 Location: India Online Status: Offline Posts: 1371	Posted: 08/Sep/2006 at 11:17pm
	I had sold CIPLA in early 90s and Satyam in late 90s too soon. Last year I had sold Sanghavi Movers below 100 for no reason. I was telling everybody that it is multibagger and I held almost all other positions. I still don't know why I sold it.
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