As a trader engaged in day trading index option contracts, I am encountering several issues:
Limited Capital: My trading capital is insufficient, restricting my ability to manage risks effectively and take advantage of market opportunities.
Low Confidence: Frequent challenges and setbacks have diminished my confidence, impacting my decision-making process.
Platform Performance Issues: Despite having a fast internet connection, the Zerodha web platform often responds very slowly, hindering my ability to execute trades promptly.
Lack of Advanced Order Types: Zerodha does not offer cover orders or bracket orders, limiting my ability to automate risk management.
Customer Support: Complaints on the Zerodha forum are often met with polite but non-substantive responses, failing to provide actual solutions to the problems.
Lack of Better Alternatives: Other trading platforms I have explored are even less satisfactory than Zerodha.
What should I do? How should I mitigate these issues?
It seems like you are encountering various challenges as a trader, especially in day trading index option contracts. Let’s tackle each of your concerns and offer some actionable suggestions:
Limited Capital:
Education and Strategy: Spend time learning and developing a strong trading strategy that suits your available capital.
Position Sizing: Carefully manage your position sizes to minimize risk.
Avoid Overtrading: Stick to high-probability trades and refrain from overtrading, which can quickly deplete your capital.
Low Confidence:
Practice: Utilize a demo account to practice trading without risking real money until you feel more confident.
Mentorship: Consider finding a mentor or joining a trading community where you can learn from experienced traders.
Journaling: Keep a trading journal to track your trades, learn from mistakes, and build confidence over time.
Platform Performance Issues:
Switch Platforms: Research and switch to a more reliable trading platform that can efficiently handle high-frequency trades.
Technical Support: Contact technical support for your current platform to see if there are any settings or updates that can improve performance.
Customer Support:
Alternative Platforms: Look for trading platforms with better customer support. Read reviews and get recommendations from other traders.
Direct Contact: Try to escalate your issues directly with higher management or through formal complaints if customer support is unresponsive.
Research and Alternatives:
Platform Trials: Many trading platforms offer free trials. Test out different platforms to see which one suits your needs best.
Community Feedback: Engage in trader forums and communities to get feedback on different platforms and tools.
Action Plan:
Education: Focus on enhancing your trading knowledge through courses, books, and online resources.
Demo Trading: Practice with a demo account to build your confidence and refine your strategy.
Platform Research: Investigate and test different trading platforms to find one that offers reliability and good customer support.
Networking: Join trading communities or forums to learn from others and get support.
Capital Management: Be cautious with your trades, ensuring you don’t risk too much of your capital on any single trade.
By addressing each of these areas methodically, you can improve your trading experience and overcome the challenges you’re currently facing.
I don’t have answers to your questions, but I’d like to share my experience. With a little over a year in F&O trading, I feel that for an individual retail trader, competing in the market against institutional traders is like trying to beat Manchester United with a high school football team.
Dear Sirs,
As option trader, unable to buy options of my choice as it hows there it has crossed the upper limit of broker so cant buy of my choice, Any solution for this
You can buy in MIS - intraday alone. If you need to buy in positional switch to some other broker. zerodha wont allow because of sebi restrictions if its not expiry day
Ah, you haven’t understood the game. There are powerful pieces on both sides. Bishops and Knights from each side capture the other side’s pawns. The powerful pieces remain unharmed.
The game is such, if you survive for minimum of 3 years only it will reward
After all even a college degree takes 3-4 years, why not such a difficult profession like trading?
There is only one system that can ensure survival in F&O trading, but it requires a substantial amount of capital, which very few retail traders can afford. It all comes down to checks and balances.
You do know that bishop can also catch a bishop right? And that is always a bigger goal than capturing the unimportant pawns.
Yours is a defeatist mindset. FnO is not a game between institutional traders and retail traders. Here every man is for himself. Retailers also want to beat other retailers. Institutions want to beat other institutions. Jane Street would rather beat Tower Research than hunt for the 10k capital of Mr Anthony Gonzales from Jhumritalaiyya.
This is more like trying to find an excuse for failure.
Definitely possible to make money with small capital provided you go with free brokerage and adopt suitable trading style which is good for low capital
If you are chasing capital double kinda style, then the probability of losing is higher than making a double
I can demonstrate with OI data that your statement is incorrect. However, this forum is not the appropriate platform for such a detailed analysis. To thoroughly explain my position, I would need to write a 5000-word response.
Its already tough, without capital trading is pointless. Why work hard to make peanuts?
But also this is only relevant once you know how to trade, since you don’t ideally one shoudn’t risk much. In learning phase, trade with as little as possible.
But eventually, say you learn to make money after few years. What good will that do without adequate capital?
So then, maybe its best to focus on career and savings first. Not everyone has to trade, and most don’t make it ( like 98%-99% make less than FD or lose ). In future, you can consider, but don’t take risk until you know what you are doing and have numbers to back it up.
if you learn what to do then you can be profitable from day 1