Genesis of NiftyScalper
It all started a few years back, when I began searching the web for information on Scalping. I did find some information in bits and pieces. One of the most relevant ones was by TastyTrade, yes, the one that I am currently reviewing on the blog.
There were a few others in bits and pieces but none spoke from an Indian context. None talked about the best products to scalp in India. I had to do a lot of "recontextualization" to make that knowledge/information relevant for me. A little more than a year went into it.
Given that we have thousands if not millions of aspiring traders and scalpers, I felt quite strange that there is such a dearth of information, I mean quality information in the context of scalping.
That's when I decided, let me be the person who puts the content together, the idea was to use my experience to reduce the learning curve for others. By this time I also had made copious amount of notes from various sources, which I wanted to share with those interested.
That's how niftysalper.com was born.
What can you expect from NiftyScalper?
Content - We would bring scalping related content with an Indian context. It's important because Indian markets are very different from other geographies in terms of data availability, tools/technologies and break-even costs of various products and hence we cannot blindly follow what works in those markets.
As shared earlier, there is a huge gap in terms of availability of quality content, we would try to bridge that gap as well.
Lastly, there are several facets to trading. Its the combination of these facets that makes or breaks a trader. Everything from Product Selection, Execution Mechanics, Market Awareness to Trading Psychology plays a role in refining our trading skills.
The aim is to structure the content on the blog in a framework that connects all these aspects.
Coaching - The second piece which we would focus on at NiftyScalper is Coaching. When I started my journey a couple of years back, I literally didn't have anyone I could go to. And those who were accessible discouraged me from scalping., calling it a wild goose chase. In retrospect I think it would have helped if they had shared with me the possibilities and risks associated with this trading technique and let me choose if it was suitable for me.
One of the thing a lot of developing and aspiring traders/scalpers look for is some sort of framework i.e connecting the dots across the various facets of scalping. Secondly, there could be people who are inherently (for various reasons) find it difficult to read and understand, they would someone to handhold them. Lastly, as a trader moves on his or her learning curve we at times need someone to bounce our ideas off to. The purpose of coaching would be to bring all this and more for aspiring scalpers.
Community - As James Surowiecki says, "Many are smarter than a few", and that holds good for us too. At the end of the day there is only so much that I can do and there is only so much that I know. But to broaden the horizon of our learning, we would also need to reach out to others who are on the same pursuit, perhaps at various levels on the learning curve. At NiftyScalper the attempt would be to bring this community of scalpers/traders and learn from each other.
Guess that's pretty much for this BLOGCAST. Do write in.