Please AVOID RELIANCE MONEY

hari09omkar · #41 20th December 2007, 05:58 PM

Quote:

Originally Posted by constantine768

Rather than being angry on others it will be great if you share some insidies of what we newbies must know.

Not angry but hungry(of wisdom).
Ok....newbies should learn simple money management and position sizing rules first.Complex mathematics will come later.First chapter is MM and discipline.It is taught at the last.There is the fault.Then will come the methods to trade,which will be a real learning.Then advanced MM aproaches and stastical finance.One after the other and step by step learning and unlearning is needed.Start with this:

http://www.traders.com/Reprints/PDF_...ts/TC_FINE.PDF

More:
http://www.traderji.com/52402-post305.html

http://www.traderji.com/52404-post307.html

http://www.traderji.com/52406-post309.html

http://www.traderji.com/52408-post310.html

http://www.traderji.com/53475-post334.html

http://www.traderji.com/53487-post335.html

http://www.traderji.com/53503-post336.html

http://www.traderji.com/53964-post349.html

http://www.traderji.com/53982-post351.html

http://www.traderji.com/945-post1.html

http://www.traderji.com/23951-post1.html

http://www.traderji.com/69429-post1.html

http://www.traderji.com/69430-post2.html

Then start reading a basics book of TA.....of Murphy or Pring.....and read Saint's:http://www.traderji.com/trading-tech...-man-fish.html

Then start positional trading and start the second phase of learning with a good software and reliable data feed and with lots of books,magazines(TA) and backtesting........and inventing....Hope this helps.

666 · #42 20th December 2007, 06:27 PM

I agree that we must be responsible traders and never over-leverage

666 · #43 20th December 2007, 06:30 PM

Excellent study material for risk management strategies
thanks!

greatbabee · #44 21st December 2007, 01:58 PM

All your discusions are very scary man,as i have just opened a demat a/c first time in my life at reliance money

deoria · #45 23rd December 2007, 01:57 AM

u can try idbipaisabuilder.in for fare trading, but it works like sarkari company

anjanr · #46 23rd December 2007, 10:44 PM

In any online trading platform ensure tht trading is complete in terms of open position, order etc. I generally take a screen shot of the same. During Reliance start days, there was a bug in the easytrade and square order used to be executed twice and new position created. I lost money because of this and I had sufficient proof to prove that they had a bug. They rectified the problem and gave me the money.

kuriako · #47 24th December 2007, 10:34 AM

Quote:

Originally Posted by bobomonkey

what are you trying to say? are you saying that newbies should jump it shorting and leverage without any experience of trading deliveries?
Is every one born an expert money/risk manager?
Dealing in deliveries involve lesser money/risk management skills and is the best point to start. Once they are familiar with the nuisance they can move on to leverage. You ask any experienced investor he will tell you the same thing.

May be due to less experience, but I must tell!

Shorter time frame ==> Shorter Risk!

So should newbies jump into longterm positions or swings?

Or should they feel the market with intraday and the noises???

I chose the intraday path! Now slowly moving to positional as I am having no time for intraday! These people close the market by 3.30pm

But practicing it in "forex" at midnight!

Practice makes man perfect!
If you are trained in a short time frame, then you will be able to glue to higher time frames with less effort!

Just like learning to drive a truck and then driving a car

But patients is lost in positional trades! Waiting waiting and still waiting for the target(stoploss

) to arrive!!!

kuriako · #48 24th December 2007, 10:40 AM

Quote:

Originally Posted by bobomonkey

most people (95 out of 100 investors) don't know what futures or leverage trading is. The concept of mark to market loses and maintanence of minimum margin etc could be quite confusing to an average trader. What most people see is that futures give you exponential returns in very short time. It is suicidal to trade leverage with such limited knowledge. When you lose those 100 points , you also have to add margin.

Shorting is even more tragic. The whole reverse thing (you make profit if the stock/market goes down) is not easy to understand for an average (95 out of 100) person. By trading in the long atleast you are doing what is natural (buy low sell high).

Maximum loses made by retail investors is from their futures exposure, I am yet to meet anyone who has made a significant loss from delivery based trading.

That 95 are called GAMBLERS
And balance 5 are called Traders

Better word than investor will be "people"

Just a plain truth from a newbie taught by some masters!

Come to Cochin...Just go to financial tower...
And to the tea shop there! Will tell you and direct you to numerous persons!

He has a log book named "Pattu book".
Just the defaulter list will give you an idea of people who lost even their "draupathis" in gambling!!!

kuriako · #49 24th December 2007, 10:57 AM

Quote:

Originally Posted by bombaytrader

Ask anyone who can swim and he'll tell you that swimming can't be learnt by reading a book or watching other people. Its only when you actually jump into the pool that you will struggle first and then learn to swim you can get a little help from someone but only after you actually jump in. Those, who think they'll first read and then watch others will never end up swimming. The same goes with trading in the markets, unless you trade and make the mistakes you'll never learn. No matter how much you read or watch the only way to learn is to get in there and try it out yourself. You will make mistakes and everyone does make mistakes but the trick is to keep your mistakes small at least in the beginning so that even after you fall you can get up and run again. "Anyone who has never made a mistake has never tried anything new." - Albert Einstein

Please put a 3 month old baby into water! Make him swim!
Please put a lunatic or mentally retarded into pool and make him swim!
Please put a blind man to pool and make him swim!!!

A person who have never seen anyone swimming or who haven't got the "logic" can never swim!(Not buoyancy, flotation, center of gravity.... But simple logic!)

It could be a teacher/ mentor who can help you to learn the logic quick!!!

Learning and practicing is two different things!!!

Learning is far different form practicing!
Actually when you get into pool for the first time you are practicing what you have "involuntarily" learned by observations!

Sorry for that philosophy

!

But it is a truth that I observed!

"Anyone who has never made a mistake has never tried anything new." - Albert Einstein

Here we are inventing nothing! We are just discovering things!!!
Mistakes are good...But are costly!
Try make them cheap and if possible avoid them. But learn how they could have affected you!

drknarayan · #50 30th December 2007, 12:19 AM

Is Reliance Money Ok for long term investing? Means buy today and sell after 1 or 2 years.