How much can greed take control of your life?
Greed can take control of your life, up to a level where you lose everything, hope,happiness everything which you strived for in your whole life. Greed has the power to destroy your life. The important point is that, you should know to draw a line between greed and knowing what you need.
Fear of losing
Fear of losing something is one of those best defences we have against greed. It is this fear that makes us cautious and prevent losses from accumulating.The fear of losing your loved ones makes you care for them a lot more. The fear of disease is what makes you adopt a healthy lifestyle.Fear of cancer makes you quit smoking!
Last week I had some big loss in the stock market. Monday was a good day, I even made some good profits coming my way. This time Greed got the better of me. I didn’t sell my Options, thinking that it will go even more up on the next day. I didn’t take my opportunity to make money due to my greed.
On Tuesday there was a fall in the market and I should have got out that time, but I didn’t because I thought markets will go up on the next day. But it fell on the next day and the day after that. By the end of friday I had only a quarter of my investment left!
It was not bad after all, because I learned something which would help me for the rest of my life.Some facts which I learned were.
- Be contended with what you have
- Never lose money
- Have a strict stop loss either 5% below your buy price or at the buy price.
- Don’t follow analysts blindly, believe only what you see with your eyes.
- Analysts make lots of money, they get out in time and prevent loss. By the time you get the news only a quarter of your money remains!
- Learn from every mistake you make.
Take control of your life now,because it is still not late. Winners learn fro every mistake but losers won’t. Losers keep on making losses. Be a winner from now on.
It was a tough day for me. This day I understood something, why I should maintain my cool, control my emotions.
I have been doing this market game for over 1 year, I made some profits at first( What people call beginners luck). At that time markets were good and went up every day, and I made neat profits. Now things are a bit different, if one day the market is up, next day it is down.
As it is human nature, to go for more profits within a short time, I decided ti jump into option. I took index option( nifty option). Today was a bad day, ahead of the inflation numbers. I had a put option, and could have made a lot of money, but I couldn’t handle the pressure and had to give up the profits and ended up with a call option in a market which is going down.
So my next aim, is to learn to maintain my cool, whatever the matter is.Losing money is something which everyone hates, I too hate it. So I am planning to do something about it.
1. Don’t take advice from others which jeopardize your chance to win.
2. Learn and be updated with the market moves
3.Don’t forget key dates
a. Inflation numbers announcement date.
b.SEBI meeting date.
c. TRAI MEETING
d. Futures and options expiry
and many more….
So learning to live with the markets is a matter. learning to live life is another matter. I experienced the anxiety, fear, greed an everyday trader experiences. I could feel my heart pumping hard, beating fast. If I cannot control my emotions and stress I wouldn’t live enough to enjoy all the benefits life has to offer me!
Some tips to manage stress
- Try to identify your own stress triggers
- Adopt techniques which work for you - we all cope with stress differently
- Be aware of your own symptoms of stress
- Accept yourself and don’t try to be perfect
- Take action to tackle your problems
- Look after yourself physically and mentally
- Be positive
So waiting to see whether market beats me or I beat the markets. Hopefully I suppose I would beat the market!
I found this article interesting:How to Maintain Your Cool When What You Really Want to Do is Smack Your Husband