nac Calling JOBBERS/SCALPERS

[iamaaditya]

Thank you so much guys. Everybody wants them to stay good. But wishing others to stay good needs a wonderful heart. You guys got such heart. I really am glad by your words.

I would love to see nac survive. May god give you strength enough to fight everyone who doubts you.

Let us know on monday where you stand.

In a kind of way i have been where you are (and that too multiple times), and if you want to take my 2 cent, its "alteast for monday trade in smaller size".

Don't get tempted to recover your losses or try to break even for month.
This reminds of a line from "Reminiscences of a stock operator"

There isn't a man in Wall Street
who has not lost money trying to make the market pay for an
automobile or a bracelet or a motor boat or a painting. I could
build a huge hospital with the birthday presents that the
tight-fisted stock market has refused to pay for.

You seem to be in an upbeat mood to go and fight the market, but remember She is the Mother, she has right to scold you when you do something wrong, but you don't want to fight her back, you want to walk with her.

I have been humbled by market (several times) and now gladly it also feeds me like a good son.

All the best nac !

 

[cooldudeRE]

guys, if at all u wanna trade in currencies ---please do it in NSE or MCX but don't do thru forex websites for reasons which i cannot share here...

can u please tell why we should nt trade forex with forex brokers?

 

[cooldudeRE]

hi sumosanammain
I never doubted ur contention and I understand that these 200 300 points are
scalable and can amount 2 serious money especially if compounded properly.
I also beleive that ur advice is very good under today's circumstances, where trading softwares have almost killed jobbing/arbitrage, but believe me a little while back I have seen people doing those kinds of trades in nifty and that too successfully.
just a small eg. that can be varified, Mbl & co. in Delhi was paying salaries between 3-5 lacks pm to some of its jobbers 2 yrs back and the interesting part is most of these jobbers, left these kind of salaries to trade fr their own.

regards

Anurag

hi anurag,
wich trading softwares are u talkin abt. & how have they killed jobbing?
r u talkin abt any automated jobbing softwares used by the big firms?
thnx

 

[nac]

I would love to see nac survive. May god give you strength enough to fight everyone who doubts you.

Let us know on monday where you stand.

In a kind of way i have been where you are (and that too multiple times), and if you want to take my 2 cent, its "alteast for monday trade in smaller size".

Don't get tempted to recover your losses or try to break even for month.
This reminds of a line from "Reminiscences of a stock operator"

There isn't a man in Wall Street
who has not lost money trying to make the market pay for an
automobile or a bracelet or a motor boat or a painting. I could
build a huge hospital with the birthday presents that the
tight-fisted stock market has refused to pay for.

You seem to be in an upbeat mood to go and fight the market, but remember She is the Mother, she has right to scold you when you do something wrong, but you don't want to fight her back, you want to walk with her.

I have been humbled by market (several times) and now gladly it also feeds me like a good son.

All the best nac !

Thank you so much man... :thanx:
Sure, I will post what happened to me tomorrow. I started this thread for other reason but now this is like my trading journal.

Well said, one of the thing I need to concentrate is order size. Nice point. I take this deep into my brain.

I am not in upbeat mood to recover loss or to get break even. My primary objective is obeying what I plotted. Nothing more than that. Result will come in favour automatically.

Yeah, I have read some of that book when I was getting trained. Its long time ago. I don't remember those lines but I am in need of those lines.

 

[sanjay1876]

A small correction here FAILURE TO APPLY/IMPLEMENT RISK/MONEY MANAGEMENT RULE. Yes, I don't use stop loss which drastically reduces my speed. And our software are not sophisticated enough to do the things faster. Definitely its useful for traders who take position few times. Its good you are using it.

Shhh!!! You do not seem to understand the concept of stoploss at all. Actually it will increase your speed. How? For every buy order you have to make a sell order or vice versa. So let the second leg be stoploss order.
Software used in our exchanges are some of the best, most of them are being used now in middle east and african markets as well (and yes, I was a software programmer myself till 10 yrs ago, we made s/w for publishing industry, which is one of the most sophisticated available for that industry and is used by many big publishing houses in america and europe and not to mention major ones in all of india. Why i say this. because we make lot of cutting edge stuff which may not necessarily be in public domain)

 

[sanjay1876]

hi anurag,
wich trading softwares are u talkin abt. & how have they killed jobbing?
r u talkin abt any automated jobbing softwares used by the big firms?
thnx

It is algoritmic trading provided to big players by stock exchanges. one can make theit own software and use it. According to estimates currently 20% of nse futures is traded this way will go upto 30% by next year or so.

 

[nac]

Shhh!!! You do not seem to understand the concept of stoploss at all. Actually it will increase your speed. How? For every buy order you have to make a sell order or vice versa. So let the second leg be stoploss order.
Software used in our exchanges are some of the best, most of them are being used now in middle east and african markets as well (and yes, I was a software programmer myself till 10 yrs ago, we made s/w for publishing industry, which is one of the most sophisticated available for that industry and is used by many big publishing houses in america and europe and not to mention major ones in all of india. Why i say this. because we make lot of cutting edge stuff which may not necessarily be in public domain)

I guess you got annoyed. Don't get annoyed buddy.

I totally agree stop loss order is one of the best tool. I ain't denying it. The thing I was sharing is just my experience and what I felt when I use stop loss order and your so called sophisticated trading terminal. There is nothing to get annoyed.

I really wonder you saying it increases speed of trading with these software. I don't know how many will be agreeing this. Don't take it as I am arguing. I really really don't wanna get into :argue: or debate. Perhaps you are trading for longer period than me. And you feel that these software are well and good and its being used across globe. Fine. That's your opinion. And this is mine. Opinion differs buddy. This is what I feel after using these software for 2+ years.

I don't know how every scalper do trade. DDK has mentioned that stop loss is one of the best tool. May be he uses it. It doesn't mean that every scalper use stop loss order for each and every order he punches. He will be punching some 100's and 1000's of orders daily. Definitely, it reduces the speed. I am just starting this kind. I am sure even after five years I will be saying, using of stop loss order will reduce trader's speed of trading. (or at least my speed)

I am sure you will be accepting this when an experienced scalper says this. You ain't ready to accept this because I am saying it. After all I am a newbie.

Please don't take it hard. I was just sharing what I feel. And I am grateful to you for suggesting and willing to teach me some good things.

 

[sanjay1876]

I really wonder you saying it increases speed of trading with these software. I don't know how many will be agreeing this. Don't take it as I am arguing. I really really don't wanna get into :argue: or debate. Perhaps you are trading for longer period than me. And you feel that these software are well and good and its being used across globe. Fine. That's your opinion. And this is mine. Opinion differs buddy. This is what I feel after using these software for 2+ years.

I don't know how every scalper do trade. DDK has mentioned that stop loss is one of the best tool. May be he uses it. It doesn't mean that every scalper use stop loss order for each and every order he punches. He will be punching some 100's and 1000's of orders daily. Definitely, it reduces the speed. I am just starting this kind. I am sure even after five years I will be saying, using of stop loss order will reduce trader's speed of trading. (or at least my speed)
QUOTE]

Firstly, I was speaking about exchange software ie. the software on which NSE or BSE or MCX run. I was not talking about speed of your trading terminal or any other frontend.
Secondly, if you want to increase speed of your trade you can do it through DMA if you have the resources. Again as someone pointed out in the thread this very thing has killed scalping/jobbing(no longer it is done manually). Customised algorithms do the job of scalpers much efficiently and at greater speed. NSE provides co-location so that even delay of millisecond is eliminated.No manual punching only plain software trading based on algorithm. They are so fast that NSE had to introduce penalty to limit them. They almost instantaneously cancel the order if not executed at given tick so NSE put penalty of them if they did not execute 1 trade after making 100 orders.

 

[DDK_CHENNAI]

using stoploss orders is an art..cannot be learnt in a day...even stoploss orders entered 5 paisa wrongly can kill ur day...say for ex:-a stock is not breaking 150 at the downside and 151 at the upperside...what we do is---we place buy stop at 151.05 and sell stop at 149.95...and do jobbing continuosly bet 150 and 151... if the stock breaks either way suudenly still we get to either square off existing loss trade or build new favourable trade...then we can enjoy the rally...

 

[nac]

Hi!!!!!!!!!!!!!!

Its been a week since I posted a post about my trading experience. I was listening to tnsn. That's the reason I was quiet and kept my mouth shut in these days. :rofl:

Are you asking me what I was listening? This is the thing... Please read it even if you have read it before.

Don't be vocal / expressive of all your feelings in public - you will dilute the learning experience and would commit same or graver mistakes in future. It is your experience and you need to go through it. Enjoy it, feel it, nuture it - get your body, mind and soul adjust to this experience. By sharing it publicly you are losing a big opportunity of learning. You may share it subsequently once you are out of the experience. This applies to Good experience as well as "Learning" experience.


Hard lessons are learnt only when they are forced onto yourself.

I think I should say this, you're right. :thumb: I guess it somehow works when I keep my mouth shut. Its really really better. I have been doing better this week. And about 6% of loss this week. Now total of 32% down, its almost 1/3rd of my capital. Yeah, I feel better even after loosing some. If I keep this attitude, I guess I would be started earning sooner than I think.

I guess, some might have been thinking that I would have gone busted and thinking this could be reason I am not posting anything here... But you're wrong. :rofl:

I am gonna keep my mouth shut about my trading experience/style/method. Not gonna list out what I did and didn't everyday. I am gonna listen to tnsn, let see how it works. I feel its better. I was thinking about keeping this thread as my trading journal but it ain't gonna happen, I guess. Now I am keeping a personal trading journal with me. I feel bit sad that I ain't gonna get any comment from you guys about my trading. You were slamming me sometimes, encouraging me, teaching me... but this is gonna stop or reduce now. Thank you all for you support and helping me to understand about things. Thank you so much guys.

I will soon come up with list of mistakes I did in these 12 trading session. That could be helpful for learner like me.