Basic Setup required and related issues with it for daytrading.

M

manojkch

Well-Known Member
#1
#1
Dear all,

I am starting this new thread to discuss the basic set up required for day trading so that one can perform day trading without any tensions,avoid losses and do trading without any interruptions/ smoothly.

Also the related issues with this basic set up can also be discussed here .

Please do participate in discussions and share your opinion/suggestions (special request for experienced traders) so that novice traders can also benefit.

Thanks and regards
Manoj
 
M

manojkch

Well-Known Member
#2
#2
Just to have guideline about what can be discussed here I am mentioning few points below....

1) PC/Laptop configurations/ Power backups
2) Internet service providers
3) Brokers
4) Trading platforms/ charting software useful for day trading.
5) Emergency measures to avoid losses, if any, when all our setup fails.
6) and many more....

All these points can be discussed in details. This is just the overall guideline and you can discuss any other issues also but they should be related with basic setup for day trading.

Thanks and regards
Manoj
 
columbus

columbus

Well-Known Member
#3
#3
manojkch said:
Just to have guideline about what can be discussed here I am mentioning few points below....

1) PC/Laptop configurations/ Power backups
2) Internet service providers
3) Brokers
4) Trading platforms/ charting software useful for day trading.
5) Emergency measures to avoid losses, if any, when all our setup fails.
6) and many more....
Click to expand...
Let me be specific on point.5, always have the Landline and mobile numbers
of your brokers ,as rightly said in case ALL OUR SETUP FAILS.
 
M

manojkch

Well-Known Member
#4
#4
I will start with myself.

Currently I am facing problem with my internet connection. I have Tataindicom
Wire line connection (256 Kbps) but it almost get disconnected twice or thrice during trading hours and that disconnection remains almost for half an hour.

When I called their customer care regarding this, they said that it happens due to frequent power cuts and they don't have sufficient backup so their local server get down during this time. They are almost giving me this answer for last six months and assuring that they will soon arrange for backup but till date they haven't done it.

In my area there is no other wire line service provider (except BSNL) but it also has frequent problems due to road works going on frequently( related to city development work).

Hence I am looking for Wireless internet service provider which can be utilized as a standby connection in case main connection fails so that I can continue trading and even that fails then there is GPRS mobile phone net connection to close our positions. If the first two fails , I will quit trading at that point after closing my positions.

So I want to ask which is the best Wireless net service provider. I have seen demo of Reliance High Speed ( 3.1 Mbps) wireless connection and it is really giving speed of at least 1.1 Mbps in my area. But I am not sure about is continuity in connection.

Any one who can guide/ discuss / suggest on this issue will be very useful to me.

Thanks and regards
Manoj
 
hitesh05

hitesh05

Well-Known Member
#5
#5
manojkch said:
I will start with myself.

Currently I am facing problem with my Internet connection. I have Tataindicom
Wire line connection (256 Kbps) but it almost get disconnected twice or thrice during trading hours and that disconnection remains almost for half an hour.

When I called their customer care regarding this, they said that it happens due to frequent power cuts and they don't have sufficient backup so their local server get down during this time. They are almost giving me this answer for last six months and assuring that they will soon arrange for backup but till date they haven't done it.

In my area there is no other wire line service provider (except BSNL) but it also has frequent problems due to road works going on frequently( related to city development work).

Hence I am looking for Wireless internet service provider which can be utilized as a standby connection in case main connection fails so that I can continue trading and even that fails then there is GPRS mobile phone net connection to close our positions. If the first two fails , I will quit trading at that point after closing my positions.

So I want to ask which is the best Wireless net service provider. I have seen demo of Reliance High Speed ( 3.1 Mbps) wireless connection and it is really giving speed of at least 1.1 Mbps in my area. But I am not sure about is continuity in connection.

Any one who can guide/ discuss / suggest on this issue will be very useful to me.

Thanks and regards
Manoj
Click to expand...
Manoj I am using BSNL broadband (Wire) connection and highly satisfied with it, I have hardly seen any disconnection even once in six months :) the speed is not less then 1500 kbps and is sufficiant fr any charting software to operate smoothly and I have also heard about bsnl wireless evdo working nicely I would recomend my every trader friend fr this connection
 
HEM

HEM

Trader
#6
#6
hitesh05 said:
Manoj I am using BSNL broadband (Wire) connection and highly satisfied with it, I have hardly seen any disconnection even once in six months :) the speed is not less then 1500 kbps and is sufficiant fr any charting software to operate smoothly and I have also heard about bsnl wireless evdo working nicely I would recomend my every trader friend fr this connection
Click to expand...


Hitesh i am fully agree with you regarding BSNL broadband (Wire) connection because
i am also using Bsnl Broadband and satisfied with it.
hitesh i don't know much about bsnl wireless evdo please give me some information about bsnl wireless evdo.

Hemant
 
L

lvgandhi

Well-Known Member
#7
#7
hitesh05 said:
Manoj I am using BSNL broadband (Wire) connection and highly satisfied with it, I have hardly seen any disconnection even once in six months :) the speed is not less then 1500 kbps and is sufficiant fr any charting software to operate smoothly and I have also heard about bsnl wireless evdo working nicely I would recomend my every trader friend fr this connection
Click to expand...
That depends upon the location. As long as I was in Chennai, everything was OK with BSNL. In trichy, I get frequent disruption in connection, though I get it back in a few minutes. I got temporary wired connection in my apartment. Still apartment wiring is not used. It is passing phase I hope. But still I would like to know about best GPRS/EDGE connection. If any one has experience in 3G of BSNL it is welcome.
 
SavantGarde

SavantGarde

Well-Known Member
#9
#9
Hi Manoj,

There Are Routers Available Which Are Called Load Balancing Routers With 2 Wan Ports.

Where Two Different Providers Are Connected At The Same Time, Each Providers Load Is Balanced By The Other, As A Result You Will Have One Working At Any Given Time, Provided Both The Providers Don't Go On The Blink At The Same Time.

Happy & Safe Tading

SavantGarde
 
Flock

Flock

Well-Known Member
#10
#10
SavantGarde said:
Hi Manoj,

There Are Routers Available Which Are Called Load Balancing Routers With 2 Wan Ports.

Where Two Different Providers Are Connected At The Same Time, Each Providers Load Is Balanced By The Other, As A Result You Will Have One Working At Any Given Time, Provided Both The Providers Don't Go On The Blink At The Same Time.

Happy & Safe Tading

SavantGarde
Click to expand...
Savant,

Software using secure connection like ODIN and most web based software are likely to have problems with this, as they go by the IP address.
 
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