My First Trade in Stock Market..The Journey Begins.
My foray in Stock Market & Trading was a mere co-incidence. This was sometime in 2002-03. After completing Mechanical Engineering from Pune University, I was couple of years in my job at Tata technologies in Pune. Tata technologies is subsidiary of Tata Motors and looks into R&D of many of Tata Motors Automotive Project. I was working in Engineering Research Centre of Tata Motors in Medium Commercial Vehicle (MCV) Dept.
ATM Machine at Bank was a new thing back then and I wanted to have a feel of withdrawing cash from machine rather than standing in queue and waiting for my turn to take my cash from Teller. I went to ICICI Bank branch near to my home to open bank account which will enable me to be part of new banking revolution.After happily signing account opening forms, I was asked by Bank Executive if I would be interested in opening DMAT account. I was clueless what it is and wanted to hide my ignorance. However, I gathered the courage to ask him what it is and what can I do with DMAT account. The executive patiently explained to me the whole world of Stock Trading of which I could understand only a fraction that time. However, I went ahead with account opening as it was linked to bank account. Eager to understand how stock market works, I logged in to icicidirect.com and started to explore the financial jungle.
I clearly remember the day when I made my first trade. Tata Motors was to launch the 207 DI Pick Up truck that day & I was part of the team that had designed the vehicle. I was full of excitement and proud of my work. It was Thursday, which was weekly off for Tata Motors in those day. Also, Thursday used to be a power cut, so we had to rely on Cybercafe for internet on those days. Market used to open at 10 AM. I got ready and headed straight to SIFY Cybercafe, which was quite popular back then. Reached at 9:45, logged into my account in icicidirect and started waiting with bated breath for market open.
The plan was simple. New Tata vehicle was launched, people were going to buy it in droves, company was going to make record sells and stock was going to rise straight up. So I was going to buy 1000 shares at open, the profit was already counted and I was going to be happiest sole at market close on 3:30.
Market opened. Tata Motors share was flat. I happily bought my 1000 shares and started looking at screen with wide eyes to count my profit. An hour passed . I may have watched every tick of price change in that hour..Nothing Happened..Why? May be people are not aware of the news yet. They will come to know by afternoon ..Lets wait.The clock kept ticking and the ticks in Tata Motors became slower and slower.. Nothing was happening..
Time passed by..It was 2PM. I was hungry but decided to skip lunch so that I don't miss the single moment of action..2:30 and the action started..Only difference, the direction of action was opposite.. To my utter horror, Tata Motors started falling. I was hurting inside but hopeful price will reverse ..At 3 PM, it was down by only 1% but that 1% felt like somebody has robbed me at gunpoint. I wanted to use all my might to stop the slide and reverse the fall but was feeling utterly helpless. Ok..What to do know? How can people be so dumb and naive to sell Tata Motors today. Any way, it has to close up at 3:30... I have more money to buy the stock..Lets make even more profit than planned and I bought 1000 more shares. Ok..Now it will reverse and go straight up..
My hand was sweating..Throat was going dry..But hey, it's another Half an hour and then party is on..Carry on..I was talking to myself.. The ticks were being watched even more closely to see any signs of revival and they were coming regularly..5 paisa up..10 paisa up..But every 10 paisa rise was followed by 20-30 paisa of fall..
3:25..Tata Motors was quoting 2% down..I was in loss of about 6000 Rs, which was my 1/3 salary of month. I wanted my money back but I was not going to get it..Why it so happened? What went wrong? And then I started plotting worse scenario..What if it falls 10% tomorrow.. I can't afford loosing that much money..Although I was hopeful that it will rise tomorrow, the deadly scenario of 10% fall was playing havoc with my mind.. I surrendered and got out at 6500 rs loss at 3:30
I was sulking.I wanted to cry, shout at that moment and break the PC.. though the upbringing of maintaining decorum in public place restrained me..I simply logged out of PC, paid to cybercafe , kick-started my bike and began the longest journey back home.. I was full of shame..Didn't want to face my family or friends after doing a ghastly act of losing 1/3rd Salary in a day.
I entered the house quietly, had my lunch and under the pretext of not feeling well, went straight to my room..How to deal with this trauma..I didn't know..I wanted to escape the feeling..the feeling of sore loser..however, the more I tried it, the stronger it became..Surrendering to sleep seemed best option,just to forget about it..alas, the sleep also became my enemy that day and my mind couldn't stop thinking..I closed my eyes and started to fool myself that I am sleeping. Inside though, it was a storm of multiple random thoughts..It was time for revenge on markets ..I was planning and plotting to snatch back my 6,500 from market..How, When ..Whether I will get it or lose more money..Hope, Fear, Revenge..every thought was coming thick and fast like waves of Tsunami ..Finally, at some point not known to me, the storm passed away and sleep took over.
Next morning, it was back to work at "TATA MOTORS". I will remember the name.
How was your first trade?
Intraday Cash Tips
This comment has been removed by the author.Delete
Great blog learned many things about share market from your article, very informative. The Share Market Classes in Chennai is the best place for share market training in India.ReplyDelete
I read a lot about it, but the most interesting and intriguing things I found in ripple newsReplyDelete
Nice Blog! Thanks For Sharing Such a More informative information for 2 days free trial visit us atReplyDelete
Stocks must have same weekly and daily trend, for that you can use trend following indicators like MACD,Moving averages,PAR-SAR etc. grup saham premiumReplyDelete
I am regular visitor, This article posted at this website is really good.
Stock Cash Tips
Great article sir thanks for sharing this kind of information this type of article improve ability for beginner in share market. Presently I am working with wealth research financial services as a stock market tips provider. We have best researcher team they providing a stock market level and first you see the level and then you decide how to buy and sell share in stock market. Best Stock Market Adviser .ReplyDelete
Great article sir thanks for sharing. I suggest the best investment planner for you safe your investment with wealth research financial services. They have providing best customer services and also providing 3 to 5 days free trails. So first you see the level and then decide how to buy and sell in share market.ReplyDelete
investment consultancies in Indore
option trading strategies
Great article sir thanks for sharing such useful information in it. I have suggestion for new traders secure your investment with wealth research financial services its sebi registered advisory indore and they have best researcher team and they provides best customer services and support.ReplyDelete
share trading tips
Information is very informative also you can click nexter.org ,and get such type of info, this is the great resource to get such type of information.ReplyDelete
This comment has been removed by the author.ReplyDelete
I have reed your blog and your content is very useful for those traders who trade first time investment in share market. Epic ResearchReplyDelete
I am appreciate your blog. This blog is good and knowledgeable. I am also advisor in Epic ResearchReplyDelete
Thank You Blogger for such a Beautiful Blog.Your Blog Design Perfect Report and Level Too Thanks By Research Panel.
Live Future Tips
Wow, great story. Really something interesting to read. Good for those who are new in stock market. get share market tips here.ReplyDelete
Apart from intuition, investors must also take help from experienced professionals who have spent years in researching the stock market & can give us better guidance in the stock market. Advisory firms, such as Ripples Advisory, consist of a team of researchers who help the investors earn a lot more profit than they would have earned by trading solo.ReplyDelete
Nifty Future Tips
I simply wanted to thank you so much again. I am not sure the things that I might have gone through without the type of hints revealed by you regarding that situation.payroll firms in dubaiReplyDelete
very impressive information i found your blog best keep sharing more updates and information related to it.ReplyDelete
Share Market Company .
Very informative post thanks for sharing Mcx tipsReplyDelete
Thanks for providing useful tips. and i learnt new things from Share market classes in Chennai.ReplyDelete
Each company listed on UK FTSE is presented with details on its sector, operations, direct link to its website, market capitalization, logo and stock symbol.ReplyDelete
This comment has been removed by the author.ReplyDelete
I read your blog it is so helpful for me. I want to know more information about trading that's why i read this blog How the stock market works?ReplyDelete
I like that you have shared your experience so people could understand the scenario of share market. Its important to know well about it. Take some Share Market Tips. Investing in share market with no experience which is full of uncertainty cannot be a good thing.ReplyDelete
Very good post! We will be linking to this particularly great content on our website. Keep up the good writing.ReplyDelete
Future Trading Tips
Thanks for Share great information about your blog , I am happy to read! .ReplyDelete
Share broker charges
Very well post. It was an awesome post to read about Proprietary trading firms forex . Complete rich content and fully informative. I totally Loved it .ReplyDelete