I bought Lupin F & O for 27th July 2017. 400 shares and it was such a painful purchase.
I am not sure why I went this way. It was an impulse buy with the logic of what is the downside not much may be 40-50k loss. Some time back when I was fresh into all this I have made around 11k in F & O of Ashok Leyland may be that was the reason. I have learned from that experience and decided never to do it. But it was around one and half year old story and then there was quick profit made over the weekend (I have bought Ashok Leyland on Friday and sold on Tuesday).
I wanted to cover my losses from another bad decision. I thought that this is a calculated risk which I can take easily.
My logic that time:
what is downside ?
what is upside?
Should I take this risk?
Downside is 1L not more than that in any case..
Upside is 30-35 k
Downside probabilility is very low. upside is very high ..
I can manage downside .. I have earned much from stock market so can take this bet..
Am I willing to take this risk of Lupin? Yes..
So lupin I am keeping for 2-3 % downside 1140 and sell at 1200 or more?
Above of-course didn’t happened I kept it till 10% downside and finally sold 3-4% down. There was a time when it was up by 2 % also.
Anyhow this time it was a good learning lost almost 15k so covered up evenly. Good price for learning. May be this time it will stick for sure.
There is no easy money.