Hi Kumar,
I read ur thread completely, all the 4 pages... Just wanted to share the knowledge I got,if it helps I am happy thats all....
As per my understanding, in terms of " Professional setup " you try to mean the software,datafeed,broker/dealer terminal required to do trading. If my understanding is correct, here comes my answer...
Requirements :
During Initial days have single PC trade on your own with below to find whether you are profitable.
1) Software : AmiBroker v5.5 or above
( You can learn to use Amibroker with help of google & U r IT professional,so no advice needed here,you will be good to learn easily
)
2) Datafeed : There are hundreds available, please find best after good analysis on Realtime data, delay, No. of scrips they offer n all. ( Ex: RTDS, but not suggestion ). Find on your own or others may help you here.
3)
STRATEGY : U have clearly mentioned that " Profit making is your concern, you just need setup ". Please donate most of your time in finalizing 2 or 3 strategies which are profitable considering the maximum drawdown,false signals and which suits your personality.
Some may find hourly or higher timeframe as best,for some its 5min/15min.It depends on you.
Plan according to the capital you are going to invest, take your time and PAPER TRADE atleast 90 days to get wellversed with how you are acting during profits/losses and how much drawdown the strategy gives / the ROI you are able to generate.
To be short,
"LEARN LOT ABOUT TECHNICAL ANALYSIS" May be at the end, you can formulate your own strategy.
If you are really confident of quitting job, Please have huge amount as back up on long term, Never touch that for capital any trading activities because No one can predict whether you will profit from Market or not...
I wish you all Success...
On hiring other people,
Even 12th grade student can be hired to do, only if you are confident about your entry n exit strategies, if he/she is properly trained but the hired person will lack proper experience about market.I am not aware of legal aspect of this part .
Note : I am not against or in support of anyone who are pessimistic and optimistic about your plan / I dont persuade you to become fulltime trader, I just told what I know....
Another request to all others, when we are interacting with a stranger who seeks some help, Explain the drawbacks in more polite and matured way. There is no point in telling " I may sound harsh/rude n all " and then explaining things.
"All the Best for your Future"
~Billa