Is trading harder than it sounds?

eq24

New Member
#1
Dear friends,

This is my first post on traderji, although I have been reading quite a lot. I want to get in trading for quite some time now and am doing the background reading bit but the application side of it is really nerve racking. So if some one would, please some tips and pointers would be very welcome.

One humble request - Please explain in total beginner language.

So I have started understanding Candles, OHLC, trending lines, channels and am now on indicators. I have also got an understanding of Scalping, intraday, stop loss etc. but my main problems are

I use Google finance to study the market, but I can not do any trendline drawing on that so I downloaded Amibroker but it is only giving NASDAQ and NYSE data and not BOM or NSE. Plus it is so expensive to buy and the feeds are even more. It is a good software but very difficult for beginners.
So for a beginner trader what software and feed to use?

How to do intraday, I have a HDFC demat account but I read on the forum that I need an online trading account, so I called up HDFC who said to buy BLINK and start trading. BLINK looks useless and also HDFC rates are expensive.
As I understand it goes Bank Account -- Demat Account -- Online Trading Account. Please help in choosing good online trading Account.
Can any profits made be taken out of trading account on the same day itself.

Thanks guys, I will be posting any more doubts if I have.
 

Gaur_Krishna

Well-Known Member
#2
This is my FIRST ANSWER to any FIRST QUESTION at TJ :thumb:

So welcome to FINANCIAL JUNGLE:thumb: called MARKETS

Scared... Remain Scared... its like this for first 3 years

Anyways, You need to have a thoro understanding of markets.

Steps:

1. Go thru Saint's Teach A Man ...... Thread. Google and you will get PDF
2. Threads by Smart_trade would be second step
3. Low capital trading in the beggining
Dear friends,
4. Slowly you will understand everything... systems, SL, Range, GAPS, ......

All the best....

Regards,
Gaur_Krishna
 

Giraffe

Well-Known Member
#3
First Things first:

A. Open Two accounts:
1. Sharekhan : For there awesome charting features.
2. Zerodha: For cheap brokerage and trade execution.
If Sharekhan gives good brokerage, you can trade via that too.

B. Start with small capital.
Don't go in guns blazing to play a 20-20 match.
Trading is more like a test cricket, most important thing is not giving away your wicket.

C. Regarding Amibroker
Your sharekhan will for the time-being serve as Ami substitute for charting and other stuff. Use it for few weeks or months till you are good with the basics. Then when you learn to make/use AFLs , you can get Amibroker. If good with excel, use the Excel link in TradeTiger/NSE NOW whatever way you want.
 

jahan

Well-Known Member
#4
Hello,

Is trading harder than it sounds?
(Thread name).

Trading is easy for Novice...only need to enter and exit.

Trading is harder for Professional(who don't know about market pshycology/his own pshycology towards market)......he is sure about entries but always in dilemma when comes to exit...his exits or too quick or too late. due to fear of giving back and to prove he is right.

Trading is Simple for Smart/expert/professional(who know why he entering and why he should exit..in simple he mastered his own psycology towards markets) .

All Simple things can't be done easily.simple means it's doesn't necessary to be easy.

Regrds,
 

eq24

New Member
#6
Thanks everyone, I am going to get Zerodha after all, it looks really affordable. One question and this may sound silly, but these guys are reliable right?. I mean no NSEL type problems?.

My plan to get in after reading on TJ is like below, please comment on any wrongs in the plan.

1) Initial Capital - Rs 20,000
2) Trade on only BSE Sensex constituents.
3) Keep a stop loss of 0.5%
4)Keep a profit point of 2% after factoring in brokerage costs and taxes.
5)Enter at support and leave after 2%

One more thing, a market order is only fulfilled after it is met so to avoid slippage should I increase my Stop loss and profit percentages so as they always converge to my absolute values of SL - 0.5% and TP of 2% after Brokerage Costs and Taxes(BCT).
 

Giraffe

Well-Known Member
#7
Thanks everyone, I am going to get Zerodha after all, it looks really affordable. One question and this may sound silly, but these guys are reliable right?. I mean no NSEL type problems?.

My plan to get in after reading on TJ is like below, please comment on any wrongs in the plan.

1) Initial Capital - Rs 20,000
2) Trade on only BSE Sensex constituents.
3) Keep a stop loss of 0.5%
4)Keep a profit point of 2% after factoring in brokerage costs and taxes.
5)Enter at support and leave after 2%

One more thing, a market order is only fulfilled after it is met so to avoid slippage should I increase my Stop loss and profit percentages so as they always converge to my absolute values of SL - 0.5% and TP of 2% after Brokerage Costs and Taxes(BCT).
If I am understanding correctly, for NSEL type problem, NSE should screw up....

Regarding brokerage house, any one can go poooof.....no guarantee regarding that. Read about the MF Global fiaso......:lol::lol:. One of the world's most reputed firm, went south.....:rofl: If reliability is the issue, only the bank run accounts are safest. But most would agree that Zerodha is pretty safe and reliable.


Copy pasting one post by Gandhar in "Zerodha part 3" (post 57), in response to similar query. Very nicely he put it.....:clap::clap:

Query:
@zerodha
What are the chances of NSE and BSE become defaulters like NSEL?
regards,
prakash

Reply:

Major NSE stakeholders

SBI: 9 per cent
LIC: 12 per cent
SHCIL: 7 per cent
IFCI: 6.65 per cent
SBI Capital: 3 per cent

if they default then its a game over for india

(My Comment: Agar UPA-III aayi, to iski bhi koi gurantee nahin hai, even they can default.....:rofl::rofl::rofl:)
 

niftytaurus

Well-Known Member
#8
Thanks everyone, I am going to get Zerodha after all, it looks really affordable. One question and this may sound silly, but these guys are reliable right?. I mean no NSEL type problems?.

My plan to get in after reading on TJ is like below, please comment on any wrongs in the plan.

1) Initial Capital - Rs 20,000
2) Trade on only BSE Sensex constituents.
3) Keep a stop loss of 0.5%
4)Keep a profit point of 2% after factoring in brokerage costs and taxes.
5)Enter at support and leave after 2%

One more thing, a market order is only fulfilled after it is met so to avoid slippage should I increase my Stop loss and profit percentages so as they always converge to my absolute values of SL - 0.5% and TP of 2% after Brokerage Costs and Taxes(BCT).
hi
my friend, I have a suggestion..before starting trading,please learn some ta &mm..
if you complete this stage,then first decide your trade set up & plan...& test it for some time by paper trading....then go for real trading...
if you complete all those stages..then good...
now ur queries..
I think you are doing it with cash segment..that's good..
investment in initial stage should be like that you will nt hurt if u loose it ..
you can play with good nifty constitutes also..as nse have more volume than bse
stop loss is great..
but dont put any target....see the trend & its potential..& run your profit..
but cut your losses..
all the best
 

whisky

Well-Known Member
#9
Trading is not harder but it is smarter. Try to be a Smart Trader.:thumb:
Wish you all the best.
 

jagankris

Well-Known Member
#10
Open a trading account with achivers - Monthly 500 rs flat brokerage.
The cheapest broker.
Download ICM metatrader - MT4.
It gives NIfty and few other stocks real time free.
(There will be a slight difference in price - but the diff will be constant so no worries).
Don't worry about the profits.
Survival is very important.
Day trading is not easy very tough and stressful - more you know about the markets more you will think about the probabilities and hence there will always be a dilema.
Swing trading is comparatively better but requires more capital.
Wish you all the best :).
 

Similar threads

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?