Trading the Enterprise...!
- Thread starter linkon7
- Start date
hellow linkon7, i no planning for trade, i follow what that man say, i keep odin order 5 point more of the level and ready for submit, looking color for acndle, size for candle and aks price for buy coming close for entry line, if color green then submit if yellow but candle three time more big than last candle wait touching ask price on level sometime it go correct price sometime less sometime more but waiting before excute. for getout sometime i take candle complete but sometime the arrow for exit there becuase the triel stop below candle but if we in profit i holding more time, but see red candle exit also immdiatly. always correcting with 3 point less than bid price, so going market order.
yesterday i am lucky shorting 5094, but getting 5088 chart make exit 5088 but candle above triel stop so i think holding and very quick drop in next candle also red so i holding little more and exiting as per profit loss window
yesterday i am lucky shorting 5094, but getting 5088 chart make exit 5088 but candle above triel stop so i think holding and very quick drop in next candle also red so i holding little more and exiting as per profit loss window
Thnx a lot KSI and LINKON..!!
This was the detailing i was asking for..!!
Lots of thnx..!!
If one can negotiate a good deal with the broker, the reports seeems to b an impressive one..!!
WIll consider the no of trades before i subscribe it..!! THNX
This was the detailing i was asking for..!!
Lots of thnx..!!
If one can negotiate a good deal with the broker, the reports seeems to b an impressive one..!!
WIll consider the no of trades before i subscribe it..!! THNX
I was having a chat with the enterprise team regarding certain doubts that i had and the representative pointed out few obvious flaws in our mindset. I did counter him with some of my findings but fact is, we have some mental blockages.
an extract of the chat i had with them....!
Fact is nifty futures is not the easiest scrip to day trade off late simply because most of the movements happen with a gap and then the first 15 minutes ends the final phase of morning movements. By the time our conventional charts get used to the gap, the movement becomes bracketed with a few wide bars that dont see follow ups in the same direction.
Swing trading in the last few weeks have been hellish as EOD bars appear scattered all over the place. The sentiment in the last 30 min of the day hardly co relates with the 30 min opening of the next day.
Options traders are not doing so well either.
Only scalpers have some sort of edge left and primary requirement of being a scalper is low cost of transaction and very reliable data source so that they can have fast entry - exit. Hardware setup should be a dual screen setup, so that they can see the chart on one screen and trade terminal on the other.
I was asking them to reduce the cost of subscription as people will need to pay for data source as well as subscription which add up to roughly 3K per month.
They said that Dhavin or anyone of the paid systems that have any proven track record charges anything from 7K to 30 K per month for subscription alone. Here they have kept the cost low so that people can afford to data source plus subscription and still end up paying less than half of any good system in the market.
I personally make about 150-200 points per month and if i can increase the income by 150% or more, with lesser amount of real time analysis (read stress), then my ego should not create mental blockage. I might have a lot of knowledge, but if that knowledge does not translate to money, then whats the point of spending so much time and energy preparing trading plans before the day starts when a guy (like INDER) who is following the motion without much thought and making more money than i am.
market dont care which system i follow. End of the day, all my family and friend want to know how much i made. They dont care what i did to make that gains. Traders have huge ego and its time i did some soul searching.
an extract of the chat i had with them....!
Code:
linkon chowdhury: if a guy is comfortable making 4-5 K per month
linkon chowdhury: on a 40 K capital, you dont anything to offer him. Guys who trade single lot of mini cant afford your system.
The Enterprise Team: if they are so low cap guys they shuldn't be trading in first place without accurate data and low brokerage, in fact we dont encourage them to trade with us.
The Enterprise Team:Trading is a serious business. a guy with 40 K capital has no reason to be day trading nifty. 4 bad trades in a row and he will never be able to place the 5th trade.
linkon chowdhury: How about if he trades 15 min tf.
The Enterprise Team: Higher the tf higher the time and volatility exposure and if a stop hits it will be by huge margin compared to 5 misn
The Enterprise Team: we had tried all kinds of trading and that was the gist of our findings, another factor also is it doesnt matter whether we make money by trading a, b, or c, the gist is we must make money, so we been advising everybody to concentrate only on trading screen of current month nifty futures and not to bother about any news and views expressed by experts in TV / forums. As a trader, our job is to make money. We are not analyst who will be bothered about what market will do tomorrow. We trade the current bar as it is forming and as soon as we are out of the trade, we look at the screen for our next entry.Fact is nifty futures is not the easiest scrip to day trade off late simply because most of the movements happen with a gap and then the first 15 minutes ends the final phase of morning movements. By the time our conventional charts get used to the gap, the movement becomes bracketed with a few wide bars that dont see follow ups in the same direction.
Swing trading in the last few weeks have been hellish as EOD bars appear scattered all over the place. The sentiment in the last 30 min of the day hardly co relates with the 30 min opening of the next day.
Options traders are not doing so well either.
Only scalpers have some sort of edge left and primary requirement of being a scalper is low cost of transaction and very reliable data source so that they can have fast entry - exit. Hardware setup should be a dual screen setup, so that they can see the chart on one screen and trade terminal on the other.
I was asking them to reduce the cost of subscription as people will need to pay for data source as well as subscription which add up to roughly 3K per month.
They said that Dhavin or anyone of the paid systems that have any proven track record charges anything from 7K to 30 K per month for subscription alone. Here they have kept the cost low so that people can afford to data source plus subscription and still end up paying less than half of any good system in the market.
I personally make about 150-200 points per month and if i can increase the income by 150% or more, with lesser amount of real time analysis (read stress), then my ego should not create mental blockage. I might have a lot of knowledge, but if that knowledge does not translate to money, then whats the point of spending so much time and energy preparing trading plans before the day starts when a guy (like INDER) who is following the motion without much thought and making more money than i am.
market dont care which system i follow. End of the day, all my family and friend want to know how much i made. They dont care what i did to make that gains. Traders have huge ego and its time i did some soul searching.
Thanks a lot again sir..!!
U highlighted on some very important aspects..
I have been into markets for long 8 years but the last 5 months, i have spent every day with the screen.. trying to learn as much as i can.. Yesterday a show on TV said tht once it was a time when we used a phone call from a friend and a trading call from them.. The market allowed time to enter the trade and yes it did fetch handsome returns.. News was the POWER then.. But of late, things have really changed.. With IT in action, news travel fast, trades are even faster.. Till the time a phone call rings, its too late to take a trade... the cream already taken off..
Second aspect, volatility...The present volatility in market was not seen in past times.. The trend followers did make profit following the trend but now the market has become dynamic..Somewhere in TJ, i found tht success can b achieved following a higher TF with a good method.. Here, i was trying to find an answer which TF would b the perfect one with a suitable method...
Here, i got an answer to my query,, i got a 30 min chart to be the answer for this for trading INTRADAY.. A 5 min TF is too much affected by volatility.. A trader with minimum capital can trade with min risk following the 30 min TF..(Less calls but yes some Good less risky calls).. And as a trader, i feel a purely intraday setup is much riskier than a trading setup with POSITIONAL capacity..
I hope my suggestions help someone here.. I have tried to share my personal experience..
(one suggestion for all..)
Watever methodology u guys r trying, pls check it on a 30 min TF and see the results.. may b tht u will need to TWEAK some exit parameters, but i believe it will b of MUCH use..!!
U highlighted on some very important aspects..
I have been into markets for long 8 years but the last 5 months, i have spent every day with the screen.. trying to learn as much as i can.. Yesterday a show on TV said tht once it was a time when we used a phone call from a friend and a trading call from them.. The market allowed time to enter the trade and yes it did fetch handsome returns.. News was the POWER then.. But of late, things have really changed.. With IT in action, news travel fast, trades are even faster.. Till the time a phone call rings, its too late to take a trade... the cream already taken off..
Second aspect, volatility...The present volatility in market was not seen in past times.. The trend followers did make profit following the trend but now the market has become dynamic..Somewhere in TJ, i found tht success can b achieved following a higher TF with a good method.. Here, i was trying to find an answer which TF would b the perfect one with a suitable method...
Here, i got an answer to my query,, i got a 30 min chart to be the answer for this for trading INTRADAY.. A 5 min TF is too much affected by volatility.. A trader with minimum capital can trade with min risk following the 30 min TF..(Less calls but yes some Good less risky calls).. And as a trader, i feel a purely intraday setup is much riskier than a trading setup with POSITIONAL capacity..
I hope my suggestions help someone here.. I have tried to share my personal experience..
(one suggestion for all..)
Watever methodology u guys r trying, pls check it on a 30 min TF and see the results.. may b tht u will need to TWEAK some exit parameters, but i believe it will b of MUCH use..!!
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