A Programmer foraying into trading

#1
Hello people!
I am a noob when it comes to trading.

I have eight years of experience in software design and program analysis. Last year I started my own start-up making ERP and CRM applications. And it has had been very hectic so far. I have recently gone through an expansion of sorts and now my company has the required management people in place thus reducing the pressure on me.

Ever since college, I wanted to get into stocks but either I didn't have sufficient money or I didn't have the opportunity. I was on an L1 in US for a long time and then traveled a bit too.
But, now I want to start doing this.

My primary reasons are:
1. I just love numbers :)
2. I obviously want to earn money and I feel at 28, I have enough stomach for risks.
3. I know that discipline and analytical thinking are mandatory which I have :)

I have planned to enter into this with a capital of 100K which I can afford to lose. But, of course I don't want to lose. I am planning on going intra-day. I am in front of a computer for about 20 hours a day, so commitment isn't going to be a problem at all.

So, what am I looking for? Well, directions. I don't want to be spoon fed but a few helpful directions would be great!

Thanks a ton in advance!
 

copypasteaee

Humbled by Markets
#2
Hello people!
I am a noob when it comes to trading.

I have eight years of experience in software design and program analysis. Last year I started my own start-up making ERP and CRM applications. And it has had been very hectic so far. I have recently gone through an expansion of sorts and now my company has the required management people in place thus reducing the pressure on me.

Ever since college, I wanted to get into stocks but either I didn't have sufficient money or I didn't have the opportunity. I was on an L1 in US for a long time and then traveled a bit too.
But, now I want to start doing this.

My primary reasons are:
1. I just love numbers :)
2. I obviously want to earn money and I feel at 28, I have enough stomach for risks.
3. I know that discipline and analytical thinking are mandatory which I have :)

I have planned to enter into this with a capital of 100K which I can afford to lose. But, of course I don't want to lose. I am planning on going intra-day. I am in front of a computer for about 20 hours a day, so commitment isn't going to be a problem at all.

So, what am I looking for? Well, directions. I don't want to be spoon fed but a few helpful directions would be great!

Thanks a ton in advance!
Wish u best of luck.
 

NJ23

Well-Known Member
#3
Statistics and time series modelling would help you. Risk management in trading would help you survive longer, get this straight first. All the best!
 
#4

rmike

Well-Known Member
#5
chrismervyn said:
Last year I started my own start-up making ERP and CRM applications. And it has had been very hectic so far. I have recently gone through an expansion of sorts and now my company has the required management people in place thus reducing the pressure on me
Normally, its foreign to my policy to tender advice to such queries as the market is the best teacher there is, to remedy all illusions/ delusions

But, would still advice to put in effort to guide your startup to grow into more of a viable venture at this juncture in your affairs. The markets aren't going to disappear anytime soon!

If the above advice doesn't appeal to you (as it probably won't), then at least have the common sense to start with 10K as a training account (if you must) & not 100K. AND intraday is not for the foolhardy. Get your feet wet by positional EOD - buying/ selling just a couple of units at a time

Regards,
 
#7
Statistics and time series modelling would help you. Risk management in trading would help you survive longer, get this straight first. All the best!
Awesome! I am actually into stats as part of my daily routine :) albeit the application is more in terms of generating ERP reports for clients... But, I would sure start looking at some models immediately. Do you guys have any specific models that you would like to believe in?

I have been hearing about the EMH weak, strong etc.. which one do you guys have faith in?
 
#9
Normally, its foreign to my policy to tender advice to such queries as the market is the best teacher there is, to remedy all illusions/ delusions

But, would still advice to put in effort to guide your startup to grow into more of a viable venture at this juncture in your affairs. The markets aren't going to disappear anytime soon!

If the above advice doesn't appeal to you (as it probably won't), then at least have the common sense to start with 10K as a training account (if you must) & not 100K. AND intraday is not for the foolhardy. Get your feet wet by positional EOD - buying/ selling just a couple of units at a time

Regards,
Well, I have been getting similar advice to be honest. I would definitely go positional on certain stocks in the run. But, of course my focus is going to be intra-day. The reason for this is, looking at the fundamental analysis of my industry indicators/strong stocks, I can definitely say that at 100K in positional play, I will take about 5-8 years to make any sense. More than the money, I would have invested precious time and then if I lose, I lose money plus investment plus all derivatives of these two resources. Whereas if I go with intra-day, I am trading off the time-investment for added risk on a capital of 100K. But, make no mistake about it that I am NOT serious. I am. I am ready to learn and slog with your best wishes and directions and advice!

Thanks a ton!
 

TracerBullet

Well-Known Member
#10
100k - Dont start big, even if this amount is trivial for you, simple logic is to prove you can make consistent money before scaling up. Markets are not running away so whats the hurry?

Most people lose money in trading. Success in other fields wont imply immmediate success in trading. So start with minimum position and prove to yourself that you can do it. Read this.

You can go through VJAY, SmartTrade etc threads here or look at NiftyNirvana (Blog), YTC, AdamGrimes ( Book / Free Course) for things that should work for intraday/Positional. Pick a method you like and perseverare through it. Good luck.
 

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