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Ravindar AdminRavindar Admin 

how to count one custom object total records using formula field on that object only?

Best Answer chosen by Ravindar Admin
Hi Ravindar,

Unfortunately there is no such feature, you need to go with apex triggers. 
1. Whenever a new record is being created, increment the value.
2. Whenever a record is being deleted, decrement the value.

Also, Its good  to store the # of records in a separate object/custom setting, to avoid unnecessary updates to all the records.

mark this as the solution, if it solves your problem.