hello friends , seeking mentor / advisor

hello friends ,

myself aehsan khan .

i am 22 years of age .

serial entrepreneur at heart.

i come from vadodara , gujrat .

i own & run my export company successfully , which i started at the age of 20.

i have developed a keen liking towards currency & commodity markets .

i would like to start trading just currency & commodity .

i have absolutely no idea on how to select an ideal bank , perfect brokerage firm ????

there are many options available , and most are misguiding in terms of there service , intraday call accuracy , fees & commission structure etc.

a highly reputed CFP even said to me that there is no success in intraday trading for anyone and everyone looses money . this does not make sense to me.

in short , for now i am not exactly interested in investing .

my interest and target is plain & simple intraday trading .

i will start small or maybe just with a demo account and see how well i do .

if all goes well i plan to later diversify into investments also & setup another company simply for trading , investments , venture capital ,holdings etc

i have joined the forum with a hope to get honest feedback from experienced traders who can guide me / mentor me .

i thank you for accepting me .

awaiting to connect with new people & make new friends.


aehsan khan
(THE KAPITALIST)

Hi aehsan khan, Love to help you on any doubt or query on trading. Also it is great to start small as trading is quite risky so take baby steps to be a successful trader.

Love to hear from you.

thank you so much sir.

current concerns are :-

1) which brokerage firm to select ???

very confused between IIFL , ZERODHA , ICICI DIRECT , ANGEL BROKING , SHAREKHAN etc

2) what points to consider while selecting a brokerage firm ???

3) many people try to sell me on their (90% high accuracy intraday calls) , while others like zerodha simply said to any kind of hot tips / calls ... they just said there job is simply to provide best broker service.
is there anything like an accurate call / hot tip or just a a way to get people to trade and make commission ????

4) can u share some experience from your early trading life ???? anything u feel useful for a newbie ??

i hope i am not asking too much

thank you

ICICI DIRECT is a pioneer in very high brokerage.
ZERODHA is pioneer in discount/very low brokerage. Why are are you even comparing the two?
Others in your list are also high brokerage.

bpr has a "Discount Broker Comparison" thread: http://www.traderji.com/brokers-trading-platforms/89681-discount-broker-comparison.html
I would go with either Zerodha or RKSV.

For data see threads by josh1 (for e.g. http://www.traderji.com/intraday/97637-real-time-data-now-nest-trader-amibroker-fcharts-38.html)
bpr also has a "Datafeed Vendor Comparison" thread: http://www.traderji.com/data-feeds/94666-datafeed-vendor-comparison.html

Never buy or even take free tips/calls.

a. Absolute Beginner Guide
b. Beginners Guide

thank you mr.raghuveer ,

i am also considering zerodha itself.

my concern is how to setup stoploss ????

what is ideal stoploss range ?????

My recommendation would be one account with Sharekhan for it provides very good charting software. You may additionally also open account with zerodha (or any other discount broker) to reduce some cost

speak with all of them....virtually all of them are opening free......then open with all of them....
since past 10 years i never traded with icici still have kept its account open...has its uses.

In our country virtually all trading terminals are free, initially it was monthly like us.

*** technical Issues can be faced with all the discount brokers. I have over 20 accounts. Have different experience with all of them.

*** for starters go for now terminal discount brokers.
*** remember with iifl,sharekhan....after an year change your demat to basic services that free for life.

as mastermind already suggested the 2...go for them....if possible open more...account maintenance should be free......speak with them.


pros ::: multiple account with different brokers helps us in money management ,trade management (in serious software failures, opportunity should not be missed)

even though i am seasoned trader i like to ready weekly/monthly outlook of many brokerage firms..that updates me and sometimes helps for unseen global events .


cons : managing many accounts can be huge headache...and for some people trading in different account is big no for their money management.

thank you all .

great advise from all.

i came across this is post n forum .

http://www.traderji.com/forex/15091-attention-forex-trading-illegal-india.html

what exactly is the topic discussed ?????

is forex intraday trading using margins illegal ??????????

if illegal then how are so many people doing it ??????

Wow!!! Even the thought of having so many demat accounts scares me. Do you keep all of them well-funded?

I, personally, have only account (with Sharekhan). My brother has one account with a discount broker and that is primarily because trading options in SK account is way too costly.

Had experimented with few other brokers such as Ventura and Networth but closed all surplus accounts.