nac Calling JOBBERS/SCALPERS

[nac]

I am going away for a small vacation. I don't think I will have access with internet. So, I catch up with you guys after week or 10 days. Till then Its nac signing off... tc

 

[tnsn2345]

My scheme/plan should be active till today. But for some reasons they have suspended my account from yesterday. So at the end of my first month after deducting xyz charges and my loss, mine is now around 50% down. I take a break here. Gonna study what was wrong all these times (even though I know what went wrong). And I need a break here before continuing this business. A small pause here. May be this break teach something. Let see....

So many of you have directed me nicely. Thank you so much.

I am attaching my performance chart here. Please have a look at it. And comment what you feel.

Dear Nac,

In trading there are two important things:

1. Plan - Instrument, Quantity (basis Risk:Reward), Entry, Exit (in profit), Exit (in loss), holding period/time
2. Rules - defining all of the above

To be a successful trader you will need to be ALWAYS RIGHT on BOTH the above things. Definition of ALWAYS RIGHT means 10/10. Anything other than 10/10 is equivalent to ALWAYS WRONG. Hence 0/10 = 5/10 = 8/10 = 9/10 = ALWAYS WRONG.

If you can UNDERSTAND the simple definition of ALWAYS WRONG then you have won the battle before it begins.

I will give you a simple but very effective tool to assess what is going wrong with your trading. i.e. the first point - PLAN or the second one - RULES

1. Decide ONE (only one) instrument you have been trading since last few days. There is no logic here, any random pick is fine, but you need to select only ONE instrument.
2. Decide minimum permissible quantity/lot you can trade in that instrument.
3. Decide holding period/time as per your existing rules. For a jobber it could be 1 minute. You may decide 5 / 10 mins etc but you need to select ONE holding period.
3. Take a 1 rupee coin having clearly defined Heads and Tails
4. Now don't look at the market, your charts, your indicators or any tool that you use. Absolutely NOTHING. Now toss the coin.
5. If it is Heads you BUY the decided quantity of decided instrument and if it is Tails you SELL (or do nothing incase you do not short otherwise) the decided quantity of decided instrument.
6. Once this is done: Refer all your indicators, charts, etc to arrive at the BEST EXIT price. The BEST EXIT price could be in PROFIT or even LOSS, as you have entered the trade randomly.
7. If your BEST EXIT price is achieved during the decided holding period, then EXIT at that price
8. If your BEST EXIT price is not achieved during the decided holding period, then EXIT at the end of the decided holding period. For this purpose of EXIT at the end of the decided holding period, you may use an alarm clock on you machine/mobile, which will prompt your to exit.
9. Repeat this activity by tossing the coin again number of times, you may do it constantly i.e. back to back or after pausing for sometime between trades.

Illustration:

1. Decided instrument : Nifty Futures
2. Decided quanity : 50
3. Decided holding period : 5 mins



(Entry Time) (Max. Exit Time) (Toss) (Action) (Entry Price) (BEST EXIT Price) (BEST EXIT Price Achieved) (Actual EXIT time) (Actual Exit Price) (P/L)

10:00 10:05 Heads Buy 5145 5152 No 10:05 5140 -5
10:15 10:20 Heads Buy 5150 5159 Yes 10:18 5159 9
10:30 10:35 Tails Sell 5162 5154 Yes 10:34 5154 8
10:45 10:50 Heads Buy 5144 5144 Yes 10:45 5144 0
11:00 11:05 Tails Sell 5152 5143 No 11:05 5150 2
11:15 11:20 Tails Sell 5136 5130 No 11:20 5142 -6
11:30 11:35 Heads Buy 5125 5129 No 11:35 5122 -3

Total Profit / Loss 5
Total Investment 40000
ROI 0.01%

Now let us analyse the results:

1. If summation of all trades done in the above fashion is lesser loss or in profit (calculation to be done strictly on % terms to investment made) than your historic daily loss (again in % terms to your trading account balance) then - YOUR "RULES" ARE RIGHT BUT YOU NEED TO IMPROVE/CHANGE YOUR "PLAN"
2. If summation of the above is similar or nearer to your historic daily loss then - YOU "PLAN" IS RIGHT BUT YOU NEED TO IMPROVE/ CHANGE YOUR "RULES"

Regards,

p.s. I know that the above tool will not be exciting to use as any other trading day, but if you look behind you will notice that exciting trading days have mostly produced losses. The only way to make profit and consistent profits is to make trading activity as boring as possible.

 

[jigar159]

hiiiii
i want to establish my carrier in jobbing but don't know about jobbing firms in mumbai will you please help me
thanks

 

[jigar159]

can any body help me with jobbing firms in mumbai

 

[nac]

I am back... I will start trading soon. Let see how I am gonna perform this month.

 

[nac]

^^^tnsn

Yeah, I have spent two weeks with my family. Your suggestion clearly says that I wasn't disciplined enough in my trading. One way or other its true. Its hard to accept but that's the truth. Let see what I am gonna do this month....

 

[MarketRider]

I am back... I will start trading soon. Let see how I am gonna perform this month.

welcome back nac...wish you all the best this time around..:thumb:

 

[anirban76]

Hi!

My experience with RKG is OK. or in the scale of 1 - 10 where 1 is worst and 10 is best. I'll give 5-6. I am sure I ain't have mentioned that I have account with bezel. So I can't comment about 'em. And moreover I haven't heard much about bezel in this forum or anywhere other than advt.

RKG seems to prefer HDFC bank.Do you have an account with HDFC? If not, then is that an issue?

 

[nac]

RKG seems to prefer HDFC bank.Do you have an account with HDFC? If not, then is that an issue?

No I don't have account with HDFC. I need to transfer the fund and call 'em and make the transferred amount to credit in my account.

 

[alroyraj]

No I don't have account with HDFC. I need to transfer the fund and call 'em and make the transferred amount to credit in my account.

Is there is delay of a 4 hours or so? I read elsewhere on the forum that it takes some 4 hours for transfer from ICICI to reflect in the account. In any case I have Axis bank is there any issues with that. I see myself moving to RKG sometime soon.