nac Calling JOBBERS/SCALPERS

[nac]

Day was good and I was much better today without big mistakes. Overall I am satisfied the way I executed my trades, today. In my trading experience, I do a mistake every now and then (but its accidental or with less care). The mistake is - I think that I put sell order, but I would have put buy order and vice versa. This ain't happened in this last one week but today.

When I am concentrating on things which I don't wanna do while executing trades, there are new things are getting evolved like the mistake I said above. But this ain't big when I compare with holding loss. Still a thing needed to omit while trading.

I have asked to do atleast 200 trades a day. I tried to execute 100, but end up with 65 trades. I just started doing this kind. Hoping I would do 200 trades one day.

Covered 3.12% today. Just a bit to reach break even excluding upfront charges. That's approximately 5%. Let see how long this will take.

 

[DDK_CHENNAI]

commiting mistakes is a lifetime process in jobbing...the more u learn the more challenges u face...but be strict with urself...be emotionless...if jobbing principles say cut ur position then cut it-there's always tomo...but do 200 trades else u wont be able to learn the art of screen-reading---the best technical analysis in the world...the funda is not to commit the same mistake again ever...

Day was good and I was much better today without big mistakes. Overall I am satisfied the way I executed my trades, today. In my trading experience, I do a mistake every now and then (but its accidental or with less care). The mistake is - I think that I put sell order, but I would have put buy order and vice versa. This ain't happened in this last one week but today.

When I am concentrating on things which I don't wanna do while executing trades, there are new things are getting evolved like the mistake I said above. But this ain't big when I compare with holding loss. Still a thing needed to omit while trading.

I have asked to do atleast 200 trades a day. I tried to execute 100, but end up with 65 trades. I just started doing this kind. Hoping I would do 200 trades one day.

Covered 3.12% today. Just a bit to reach break even excluding upfront charges. That's approximately 5%. Let see how long this will take.

 

[DDK_CHENNAI]

honestly, typing error is a shame for a jobber even if he commits in initial days...that's where we are supposed to be strong...very strong indeed...when markets are highly volatile u can take advantages...

 

[veluri1967]

Nac,

Great going.

How are u entering the orders?

By stop limit or market. Since its jabbing/scalping, you wont be holding positions for long. Then, are u placing any stoploss orders or simply quitting the trade on price action by entering market orders.

 

[DDK_CHENNAI]

we dont wait for the stop loss to trigger...we jus quit if we feel so...loss in one trade shud not be more than 0.5% of value...for 100rs scrip---loss not mmore than 50 paisa...

Nac,

Great going.

How are u entering the orders?

By stop limit or market. Since its jabbing/scalping, you wont be holding positions for long. Then, are u placing any stoploss orders or simply quitting the trade on price action by entering market orders.

 

[balab]

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.

This 30-40k includes government taxes or is it just pure brokerage?
That's a huge amount! Taxes would be even more on top of this! You must have a killer trade system.

 

[nac]

commiting mistakes is a lifetime process in jobbing...the more u learn the more challenges u face...but be strict with urself...be emotionless...if jobbing principles say cut ur position then cut it-there's always tomo...but do 200 trades else u wont be able to learn the art of screen-reading---the best technical analysis in the world...the funda is not to commit the same mistake again ever...

honestly, typing error is a shame for a jobber even if he commits in initial days...that's where we are supposed to be strong...very strong indeed...when markets are highly volatile u can take advantages...

The mistake I said yesterday happens all the time. But this don't happen when I trade in Indian market. I don't think it hurts me a lot. If I punch buy instead of sell, I can cover it right away. It ain't a matter for me. But still when you say this, I feel a bit

 

[nac]

Nac,

Great going.

How are u entering the orders?

By stop limit or market. Since its jabbing/scalping, you wont be holding positions for long. Then, are u placing any stoploss orders or simply quitting the trade on price action by entering market orders.

Thank you.

I always punch limit order. Never ever placed market order in my trading life other than just to try how it works.

Yeah, I was using stop loss order while learning how to trade. But now I am not using it. Infact I don't know how to place stop loss order in Indian market. Here I am seeing more than one tab to enter price for stop loss.. Like trigger point, limit point. Never wanted to try it. But atleast after writing this post, I should learn how to do it. So I am gonna try and learn it tomorrow. Thank you for pinching me to learn it. I have many post regarding how to place stop loss. I never got a thought of learning/trying it, but with your post I am gonna do it.

 

[nac]

Trading was too pathetic, today. I lost some great amount. Market screwed me deeply and kicked me into the ditch. I am far down, worst than last week. uhhhhh.... The same Thursday last week I lost, Again this Thursday uhhhhh.....

 

[anuragmunjal]

This 30-40k includes government taxes or is it just pure brokerage?
That's a huge amount! Taxes would be even more on top of this! You must have a killer trade system.

hi balab

this is just the brokerage, taxes and charges are above this.(brokerage as such is a very small part of the total outflow) almost all the jobbers/ arbitraguers would be shelling out such brokerage and as I said earlier this is due 2 increased competetion among brokers and also the fact that jobbing/arbitrage is dyeing a slow death after the advent of system trading software. 2 yrs back a decent jobber was paying close to 1 lakh rs. per month as brokerage.
eg. if a person is doing 100 crores of turnover pm in nse and paying 300 rs per crore as brokerage, his total outflow would be close to 2050 rs pre crore in the cash segment and in futures it would be somewhere around 1550 rs per crore.

hence his total outflow would be 205000 in cash segment and rs 155000 in futures.

regards

Anurag