Hi guys,
This is one of the best forum to share our experiences. I am new to this forum. Please, I need answers to the following questions.
I am into intraday trading. I have ICICIDirect account but the brokerage and other charges are very high and the speed is very slow. So I recently switched to RK GLobals Diet Odin. Here, the speed of execution of orders is quite fast and the brokerage is too low. I am using Falcon trial version for charting. I observed that diet odin is faster than falcon by appr. 10 seconds.
I am confused now whether to go to for Falcon, Amibroker, FChart, Tradestation or Metastock. Following are my constraints.
1. I should be able to create and write my own Indicators i.e., Programming. In Falcon one cannot write his own programs/indicators.
2. The software must be capable of doing market scan as per user defined filters.
Priority 3. I want the charting s/w and real time to be fetched as fast as possible.
Priority 4. Max I can pay for both charting s/w and real time data is 30000 per year. Falcon is charging around 24K.
Priority 5. The intraday data can be imported to the excel easily for further analysis.
Priority 6. I do not want any repetitive manual settings to be done to fetch real time data.
Falcon is very good s/w but the limitation is that you cannot do programming. I spent appr. 10-12 days understanding the s/w. I do not want to repeat the same thing with other s/ws as I am an MBA Finance student and have time constraints. So, It is a request to you all experienced traders to help me select the appropriate software.
While doing trading, I observed that
total traded quantities = total buy quantities + total sell quantities
but
total buy quantities are not equal to total sell quantities by end of day. Just to prove my point the traded quantities of Reliance is 10466939, an odd number. Total Buy Quantity is 4945699 and total sell quantity is 5521240
Can somebody explain this to me?
For every buyer there has to be a seller but while watching tick by tick data, I saw that at a particular time there were sellers and the next time there were buyers. e.g.,
Time M Qty Rate RChg TBQty TSQty
15:29:55 S 25 1365 0 4929497 5521240
15:29:51 S 20619 1365 -14 4929497 5521215
15:29:47 B 764 1379 1 4929497 5500596
15:29:43 B 3976 1378 4 4928733 5500596
15:29:39 B 10610 1374 2 4924757 5500596
15:29:35 B 1345 1372 0 4914147 5500596
15:29:31 B 2240 1372 0 4912802 5500596
15:29:27 B 2397 1372 1 4910562 5500596
15:29:23 S 3265 1371 -1 4908165 5500596
15:29:19 B 2131 1372 1 4908165 5497331
15:29:15 B 2555 1371 0.95 4906034 5497331
15:29:11 S 3717 1370.05 0.05 4903479 5497331
15:29:07 S 8872 1370 -1.1 4903479 5493614
15:29:03 B 2674 1371.1 -0.9 4903479 5484742
I want to understand the correlation btwn price, momentum and volume. Can somebody point out the source for the same?