Comment on Lessons from trading on Yes Bank

Bandar Singh commented on 25 Aug 2019, 09:54 PM

You’re right. Timing is the key. Man but that 53 level barely lasted a few minutes and it swing back to 58 on 22nd. I dunno how you managed to catch it at rock bottom levels.
Also, when it comes to averaging, people should wait until the scrip falls by at least 25-30% and have the patience to wait till that kind of a fall. Else just hold it and wait for it to go up. What most people tend to do is that even if it falls by 5%, they buy more. Then it falls further and the overall unrealised loss goes higher and higher till they have no more money to buy it when it falls to extremely low levels.
This is the mistake I did with Vodafone. I had it from the time it was trading at 20 levels. Then rather than keeping a stop loss, I carried it forward to the next day. It rose. But I thought it would rise further. But no, it went on a downward spiral over and over till 40% of my buy price. Then it turned around due to short selling and came back to 18. Rather than exiting then, I thought it will go further up. Now it is trading at 4 rs. :'(

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