Day trading fraud ?

[axuiyitiku]

i read it somewhere that you can't make money trading intraday, and now I am beginning to believe that there is something/someone controlling the market so day trading can't be profitable.
I am using zerodha Trader and two ISPs BSNL and IDEA and something very peculiar happens when market moves very fast mostly when its going down e.g on 9 april at about 12:45pm when suddenly market started going down then zerodha trader stopped working and even websites like zerodha.com, nowonline.in won't open till 1:30 pm every other website was working fine, so I asked zerodha why did this happen and the guy from zerodha said that there must have been some problem with ur internet connection (surprisingly with both BSNL/IDEA) then he said maybe some plugin in zerodha is acting up so he suggested to change the name of the nest plugin folder, I said fine maybe that was the case so I didn't gave it much thought and treated it as odd days,
but, but, the same thing happened yesterday(09-may-2013) around 2:30pm zerodha trader got disconnected from the nest system and won't connect , zerodha.com and nowonline didn't open but again everything else was working fine but at around 3pm all these problems disappeared.
so someone want us to work hard earn money and then lose is to other guys ?
is there a solution to that ?

[azuvegihafov]

Solution

1. Do not do intraday trading or

2. Change to more reliable (in your experience) broker or

3. Have account with multiple brokers or

4. Accept these losses as normal process of intraday trading. or

5. Ask the same question to more / others to get different better prespective

[Barchart.com]

Just my view :

1. There are traders who successfully trade on 1M, 3M & 5M or other short term time duration charts. These traders follow their own system and manage risk well and have a good money management system. Besides they have the ability and confidence to pull the trigger, and when the market goes against them, will get out without a second thought, and wait for another trade to setup. To get to this level usually takes time, and very few traders make it.

2. Re. disconnection from the system, there is no conspiracy against you or anybody else. Disconnection would have been favourable for some traders, and unfavourable to others.

3. You need to check your net connection. If you have frequent net disconnections, that may be the cause. Try using dongle instead.

4. If you have net connectivity, but problem with accessing your account - Zerodha in this case, means you have to look at another broking terminal. Being locked out twice from the system for long periods of time when net is accessable, means your broker needs to be evaluated/changed.

[BarryVeiga]

Just look for another Broker Terminal, Invest in a good Internet provider don't cut corners when you have choose the above.

[bayaduf]

ISPs run an algorithm by which it allocates bandwidth as per average usage.

When the market is fast moving, orders multiply suddenly which is more than the allowed bandwidths capacity. Although, you may have the best download speed, but the ODIN upload speed could still be same hence unable to give proper updates.

There is no solution. You have to bite the bullet.

It is likely that this is done on purpose. It is in "their" best interest. I do not think the Broker terminals, that are directly connected to the exchange, face this problem.

A trader may find himself badly stuck if he waiting to type the order while his SL level is being breached. And amidst the frantic typing if the net goes kaput the intraday trader is pretty much crucified. As a solution, place SL limit orders as soon as entry is hit. Don't wait for a better time.
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