square off or take delivery ?

G

GauravC

Member
#1
#1
greetings to all , i am very new to this whole day trading thing and i have some basic questions .. i have been trading for about a week or so using tt advanced software provided by 5 paisa infoline .. what i have been doing so far is to square off any and all open positions before the markets close , profit or loss .. my question is .. if im trading without a stop loss , and go in the red .. is it better idea to hold on ? .. what happens exactly if i hold .. does that mean i an taking delivery and thereby will have to pay more brokerage charges ? also .. what is the best online trading software in the market ? i went with 5 paisa on a friends advice but on investigating further online i found some pretty bad reviews for it .. my knowledge on the whole subject if fairly limited so i cant really say if ttadvance is good or bad .. so far .. fairly simple .. buy / sell ..

waiting for ur inputs .. thanks and best regards !
 
B

biyasc

Well-Known Member
#2
#2
form the month of january,08 lots of new members are coming into traderji, our community is growing rapidly, wellcome to traderji mr. gauravc.
 
S

SamFisher

Well-Known Member
#3
#3
GauravC said:
greetings to all , i am very new to this whole day trading thing and i have some basic questions .. i have been trading for about a week or so using tt advanced software provided by 5 paisa infoline .. what i have been doing so far is to square off any and all open positions before the markets close , profit or loss .. my question is .. if im trading without a stop loss , and go in the red .. is it better idea to hold on ? .. what happens exactly if i hold .. does that mean i an taking delivery and thereby will have to pay more brokerage charges ? also .. what is the best online trading software in the market ? i went with 5 paisa on a friends advice but on investigating further online i found some pretty bad reviews for it .. my knowledge on the whole subject if fairly limited so i cant really say if ttadvance is good or bad .. so far .. fairly simple .. buy / sell ..

waiting for ur inputs .. thanks and best regards !
Click to expand...
Welcome Gaurav,
I am new too, but there is lot to learn and most of the ideas available in this very forum.
Regarding the delivery question you asked, yes I too take delivery if I fell that I want to keep the stock for some more time with the anticipation of price going up. But when you take a delivery you have to wait for T + 2 Days, so that you will see the stock in your DP. Once its available you can sell it whenever you want (do not sell it next day as this might lead to share auction from your broker!) Also there is separate brokerage fee for delivery based purchases. You have to check up with your broker for the details.
:)
 
K

kesanareddy

New Member
#4
#4
Hello to everybody,
I am also new to trading, recently I brought some shares and sell them very next day meanwhile I received a mail from DP saying short delivery of shares which I brought and sold. please inform how to I react
 
Mr.G

Mr.G

Well-Known Member
#5
#5
kesanareddy said:
Hello to everybody,
I am also new to trading, recently I brought some shares and sell them very next day meanwhile I received a mail from DP saying short delivery of shares which I brought and sold. please inform how to I react
Click to expand...
You can not buy and just sell of shares, if you are taking delivery! You will have to pay penalty stated in your mail. If you take delivery for your shares you can only sell after T+3. You can only sell shares that are in your DP. If you sell and the shares are not in your DP then you get short delivery notice. Defaulting client (you) will have to pay the actual auction price + a penalty of 2%
 
N

nithxp

Active Member
#6
#6
Mr.G said:
You can not buy and just sell of shares, if you are taking delivery! You will have to pay penalty stated in your mail. If you take delivery for your shares you can only sell after T+3. You can only sell shares that are in your DP. If you sell and the shares are not in your DP then you get short delivery notice. Defaulting client (you) will have to pay the actual auction price + a penalty of 2%
Click to expand...
Nice info i didn't know abt it :clap::clap:
 
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