nac Calling JOBBERS/SCALPERS

nac

Well-Known Member
#1
Some of you may know about me. (About what I am into, etc...)
For others who don't know about me...

I left my job few months ago. I ain't satisfied with the job I got and I ain't got the job I wanted. I kept an idea in my mind when I left my previous job. If I ain't get any job in X months, start trading in Indian market was the idea. Don't think that I took this as this is my last resort. I was working for a proprietary trading firm before. Trading is bit hectic but I like it very much. That job was my third one. Trading is the job I liked more than other two jobs.

I started planning since 1st week of march. I planned to do jobbing (But I have never been into this kinda trading). First, I tried this kind in virtual way for around two weeks. Then I decided that I can do this. After some research I planned to open account with RKG (since I found this is the place I can get cheaper brokerage) and now I got my account. I got my account early this week. I started trading yesterday.

But I couldn't able to execute jobbing. I end up loosing around 6% of my capital. I am confident that I can do it perfectly from Monday(Every beginner got this confidence until loosing all the capital). But I don't wanna get screwed. I would like to get views from you JOBBERS/SCALPERS. That's the reason I am starting this thread.

I just explain briefly about what happened in these two days.

I trade only in NSE-Cash.

Yesterday, for sentimental reason I hold the first position because I don't want to end up loosing the very first trade. But finally, I happened to cover with bigger loss. This is not the only reason, but this is the main reason. Earlier my broker made me tensed with fund transfer, order rejection etc...

Moral of the day: No room for sentiment.

Today, I started well and I was executing jobbing. In 90 minutes I have executed around 20 trades. All were successful. I took a break then and came after a while and started. First one was OK with the second one I got stuck and couldn't able to cut the position and finally I covered @ day's stop loss.

Moral of the day: Don't hold loss/loosing position.

I would like to know from you guys about the following things. You can add more if you feel that I would be in need or helpful for my trading.

  • What kind of stocks you trade? list any favorite 5 stocks of yours.
  • How you pick stocks to trade?
  • What's the lot size you trade? What's the possible size to trade every now and then?
  • Do you use Technical/Fundamental analysis to execute jobbing?
  • How long you are into jobbing?
  • Were you successful since you started jobbing or it took some time to pick up? If yes, how long?
  • Do you stop trading after achieving your target or something?
If you wanna add something extra, please do...

May be I got much to ask you guys, but nothing strikes my mind now. So I ask you when it strikes...

I have got enough confidence to survive in this world of trading and now I entered. I don't wanna back step. I feel that jobbing is a way where I can live with less or no risk in it. You can ask me what happened to my previous trading system/style. I would say its good as well, but I feel riskier than jobbing. That's the reason I picked jobbing. And I got less or no knowledge about derivatives. So I don't wanna trade it now. May be after some years.

Note: Don't ask me to stop/quit trading.
 
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anuragmunjal

Well-Known Member
#2
hi Nac
first thing that I would suggest is that if u want 2 take up jobbing as a careear,donot trade on an internet based platform. the problem is that even if ur system hangs once in the whole day, u can give away a week's profit. normally a jobber is looking for a very small profit, therefore he would put in a sell bid as soon as he buys or vice versa. now if u buy something fr 100 rs. and put a sell bid @ 100.5 and ur system hangs, the maximum u can gain in that trade is .50 paise even if the stock goes up by 5 rs., whereas if it falls by 5 rs., u give up probably a weeks' earnings. hence, I would suggest that u go to a broker's office in ur town n work on a dedicated lease line and make sure that the broker also has a vsat backup incase of a breakdown of the lease line.

coming 2 ur specific queries:

"What kind of stocks you trade? list any favorite 5 stocks of yours"

I trade anything that moves and is liquid ,more the movement, better it is.

"How you pick stocks to trade"

same as above

"What's the lot size you trade? What's the possible size to trade every now and then"

that depends on ur comfort level and the liquidity of that particular stock. always think of what u can loose as opposed 2 what u can gain.

"Do you use Technical/Fundamental analysis to execute jobbing"

No.

"How long you are into jobbing"
7-8 yrs.

"Were you successful since you started jobbing or it took some time to pick up? If yes, how long"

no I was not successful initially, It took 2-3 yrs 2 become consistantly profitable. even after that I had phases when I was successful and at times I was totally cold.
as a matter of fact, this last yr or so has not been particularly good fr jobbers.

"Do you stop trading after achieving your target or something"

no I do not stop trading on achiving any targets. as a matter of fact I do not have any targts, I feel that people who stop trading after achieving some preconceived target are actually not trading but gambling. as a trader u make money only if u have some kind of edge ( whether its ur trading system or ur intution ) and for that edge to work, u have 2 take all the trades. if I am trading any system which has a positive expectation, I have no choice but to trade all the trades, I cannot detrmine before hand which trade would give me a profit or loss. on the other hand if u stop trading on achieving a specific target, u are limiting ur profits on the day when everything is going right fr u, and increasing ur losses on the day when everything is not so right. I feel u have 2 do the opposite fr being a successful trader
the abov ementioned rules are what I have devised fr myself after years of seeing what works fr me and what does not. It may or may not work in the same manner for another jobber/ trader.

hope this helps

regards

Anurag
 

arjit

Active Member
#4
I trade only Tatamotors using Gann Cal.I trade 500 quantity in each trade with a target of Rs.10 each share and SL of Rs.5.For Gann cal refer to Equity-day trading.
 

nac

Well-Known Member
#6
^^^ Thank you anu...

Yeah, Internet is a thing need to be considered. As you know, I am in chennai. RKG is not operating here (Even If they does, I don't think they would provide a separate system for its client). I try to find a back up plan for this.

Since you raised this, I ask you. Please don't mind... Are you going to your broker's office and do trading???

Since most of your answers were similar to what I would have answered if those questions were asked to me, I say this. I don't think I will feel comfortable going to broker's place and do trading. I take your point and workout something on it.

* I thought you would say a concrete order size. But your answer seems to be right.
* Really, you have got pretty long experience in jobbing.

Yes, it really helps. Thank you.
 

anuragmunjal

Well-Known Member
#8
^^^ Thank you anu...

Yeah, Internet is a thing need to be considered. As you know, I am in chennai. RKG is not operating here (Even If they does, I don't think they would provide a separate system for its client). I try to find a back up plan for this.

Since you raised this, I ask you. Please don't mind... Are you going to your broker's office and do trading???

Since most of your answers were similar to what I would have answered if those questions were asked to me, I say this. I don't think I will feel comfortable going to broker's place and do trading. I take your point and workout something on it.

* I thought you would say a concrete order size. But your answer seems to be right.
* Really, you have got pretty long experience in jobbing.

Yes, it really helps. Thank you.
yes I have always traded frm a broker's office. as a matter of fact it has its advantages too.
there is a systems guy around always in any kind of software/hardware problem.
u never have 2 think of power backups.that is the broker's headache.on an average , when u are putting in a trade every 2-3 minutes, it is very essential that u concentrate just on ur trading.
after a while, if u r a good trader and generate a good volume, u develop a good rapport with ur broker and u can have all the facilities that u need at the broker's office.
if ur style of trading is such that u cut ur losses short and u are making profits consistently, u never face any margin / limit problems,especially in intrady trading.
u get an office enviorment to work in, which is very difficult 2 get at home.
u get 2 know what is the general consensus towards market of various clients of the broker and u may be able to use that information 2 ur advantage.

these are few of the advantages I can think of right now.

regards

Anurag


ps. I did try 2 work frm home for a month or 2 and my personal experience was not good.
 

nac

Well-Known Member
#9
^ I really wonder/surprised hearing you saying this. You are going daily to broker's place. It's really amazing man.... :thumb:

Are you comfortable with brokerage?
Can you please share your brokerage structure and broker?(If you don't mind)
 

anuragmunjal

Well-Known Member
#10
^ I really wonder/surprised hearing you saying this. You are going daily to broker's place. It's really amazing man.... :thumb:

Are you comfortable with brokerage?
Can you please share your brokerage structure and broker?(If you don't mind)
I really dont know whether it would be appropriate 2 name my broker as per the forum rules. therefore I'll give u the names of all the brokers with whom I have worked in the past 7-8 yrs

farsight securities
pace financial
adroit
bezel stock brkers

as per the brokerage, there is a slight difference in the way the brokers think.
if u take up a 9 rs plan with rkg and put in 2 trafes in a day,he would not mind simply bcos u r using ur own resources. he has put in a one time cost fr infrastructure, and now he doesnt mind if a client gives him 50 rs a day or 500 rs. a day or whatever. he is just concentrating 2 increase his client base and not the individual turnover of a particular client.
on the other hand, when u go 2 a broker's office, u r using his resources and he expects u 2 pay well for that. the thumb rule 2 day is (and this is due to increased competetion) that u pay him atleast 30-40k per month as brokerage. so u can see ur average daily turnover and negotiate the brokerage keeping this i mind.
2 yrs back I had 2 pay much more.

coming 2 specifics, I was paying 50 rs per crore above the exchange charges, when I was trading commodities.these days I am paying 300 rs. per crore above the various charges in nse.
 

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