Broker and the Bazaar

[stumper]

HI,

Interesting post. Let me add a few things. You have covered a lot of ground. But you have missed one very vital point about brokers. The first and foremost point that makes people change brokerages is honesty. A few big brokerages have great RMs who will do anything to your account to get their commission. And if u encounter one of them, the first thing u do is close the account. And then tell others not to open an a/c with them. Then comes all your other stuff.

As per stuff like Ninja Trader etc, it is not a case of demand and supply. Simply those DOM based automated trading is not permitted in India. Or else they would have come in droves. Unlike trucks, you dont have incremental costs in providing software once it is developed...particularly the ones that run on the client machines and do not pose a load on your server. In India it is far more easier to sell such software buy luring unsuspecting traders...and this is a business of suckers...come and go...more the merrier. Why do you think data vendors over here have so many clients for intraday data even if they cost upwards of 36000 per annum?

Hi AV ,

I appreciate your feedback.

1. The thread was more targetted towards a newbie. The word "Honesty" although absolute by defination has different meaning to different people. A experienced trader by nature will be prepared for "Not So Honest" actions at his/her broker's end & will take such actions for granted (ofcourse at same time protecting his interests). But a beginner may not have means to detect such dis-honesty in pre-signup enquiries and many times fails to even detect such practise. Thats the reason my fifth point asked them to be cautious. Guard your door.

2. Your information on Autmoated trading software not being permitted in INDIA was a eye opener for me. I was not aware about it. Thanks for the same.

Regards.

 

[chintan786]

HI,

Interesting post. Let me add a few things. You have covered a lot of ground. But you have missed one very vital point about brokers. The first and foremost point that makes people change brokerages is honesty. A few big brokerages have great RMs who will do anything to your account to get their commission. And if u encounter one of them, the first thing u do is close the account. And then tell others not to open an a/c with them. Then comes all your other stuff.

As per stuff like Ninja Trader etc, it is not a case of demand and supply. Simply those DOM based automated trading is not permitted in India. Or else they would have come in droves. Unlike trucks, you dont have incremental costs in providing software once it is developed...particularly the ones that run on the client machines and do not pose a load on your server. In India it is far more easier to sell such software buy luring unsuspecting traders...and this is a business of suckers...come and go...more the merrier. Why do you think data vendors over here have so many clients for intraday data even if they cost upwards of 36000 per annum?

hi friends, i recently downloaded esignal but don't know how to use it for indian stock market.So plz can anyone help me out of this problem.

thanks in advance
chintan

 

[stumper]

hi friends, i recently downloaded esignal but don't know how to use it for indian stock market.So plz can anyone help me out of this problem.

thanks in advance
chintan

Hi Chintan ,

You need to have subscription with esignal for respective exchange data.
They charge you for seprate for each exchange that you want data for.

In case you are new subscriber, you can go for trial subscription which will cost you 2 $ for NSE and approx 10$ for BSE.

They have a live rep facility where they can guide you with setting up a trial subscription.

Hope i was able to help you.

Thanks
Stumper

 

[novais]

Stumper,

Nice post...I thought to send you PM but found no facility, as I has question on different topic (Quality of feed).

What is your view if trading decision is made based upon 1 minute feed then realtime? Would it help not to act on noise?

Please email me at novais (at) akr (dot) com

Thanks.

 

[stumper]

Stumper,

What is your view if trading decision is made based upon 1 minute feed then realtime? Would it help not to act on noise?

Thanks.

Apology .... i somehow missed your post!!

Your question confused me. By 1 minute feed you mean to say A delay of 1 minute or do you mean to say a 1 minute bar which is real time?

For Day trading, i havent seen anyone day trade on a delayed quote.

Personally i use 5 minutes bar chart.... im quite comfortable with it. As you said, a 1 minute chart will be really noisy but can give you scalper trades (im hoping you will be able to fill your orders as quickly though!!!)


Regards ,
Stumper

 

[stockBond]

If I want to go for 14000 scheme in Bajaj (unlimited free brokerage) isn't it good ?
Are u using Bajaj? Can we talk ? My number 9946485707 ......Plz need some advice.

 

[Northie]

If I want to go for 14000 scheme (unlimited free brokerage) isn't it good ?
Are u using Bajaj? Can we talk ? My number 9946485707 ......Plz need some advice from you as you are already using it.

hey don't repeat your post everwhere.

for your query see my post at http://www.traderji.com/brokers-tra...option-turnover-calculation-2.html#post298431