The lesson I learnt today

I have always believed that greediness produces ill wealth and ultimately destruction. But today I'm surprised that even I fell for it today during my intra-day trading. This is one of those days when I thought of buying ITC stock at lower levels and selling it at a profit of Rs 2 per share. i got a profit of 10,000 Indian Rupees. A regular me would have stopped at that point and been happy with what I got. But it is stock market where greediness overtakes all other characters which you would have built for a long time within you. I put in another trade thinking I could not go wrong this time too. But as it happened I had to come out of the day with a loss of 1000 rupees. What I have learnt today is to be content with what we have at certain times in our life and not to be over confident. Another important thing is to respect the market. A market is a place for making money. Agreed. But there are certain principles which are to be followed. I believe I will learn from this lesson hereon and would be more careful and do the necessary before putting myself in.

One up on Wall Street by Peter Lynch - My favourite lines (Part I)

I began investing when I was 24 in small amounts. I was really fascinated by the way the stock market works and the money the people make in investing in stocks. I have read some books like Rich Dad Poor Dad by Robert Kiyosaki but I wasn't getting the real juice out of any as I was expecting a different flavour.

So this happened right after my second semester at Christ University started that I went to the library to take a book other than our subject area just to fill my bag and for my personal satisfaction. That is when I came across this book One up on Wall Street by Peter Lynch which has really made be stick to the book for this long. I will be writing this post continuously till I finish reading this book so that I could tell you my favourite quotes from this lovely book.

Market update as on 18 November 2016

Sensex:

            Today, the Sensex dropped 77.38 points to close at 26150.24 down by 0.38%.

Nifty:

          Today, the Nifty also lost a little around 5.85 points to close at 8074.10 up by 0.07%.

Reason:

             After oscillating in a 242 points range, the BSE Sensex ended at 6 month closing low on friday as investors continued to avoid taking fresh positions.