Margin Plus (Beginner)

#1
Dear All,
I have decided to enter Equity Market as a Trader. At present I am making research and trying to learn things to become an effecting Profit Making Trader.
Befor starting this new thread I have gone through various posts but still a few questions remain.
It will be of great help if somone pls answer my following queries.

Query1. Is it possible to place an order which covers both profit & Loss in Margin Plus trading.
eg I purchased a share at price of Rs 400/-
I aim to sell it if price reached 390 with limit of 385 (at market price) to cover loss.
I aim to sell it as soon as it reaches 420/- limit 425 to make profit.

Query 2If I place a Margin Plus order with a loss limit, will order automatically get closed in evening or I have to close it.

Query 3 Does HDFC Sec offer Margin Plus Trading Similar to ICICIDIRECT?

Query 4 At the end how will I come to know about the profit or Loss incurred by me?
 
#2
1. I don't think that's possible. May I be wrong. If you find solution to query 1 then give response here.
2. No, stocks will be delivered to you at evening in your account if you don't close you order within market time. Orders are never closed automatically once executed.
3. Isn't it a good idea to directly contact hdfcsec customer care?
4. You will know about all transactions in your online trading account.
 

pakatil

Well-Known Member
#3
hi saurav,

1.MarginPlus is buying at Mktprice, with a StopLoss order. There can't be a Target Order (called Limit Order).

2.Yes it is purely a DayTrading Product. If the SL is not hit, it will get squared off at the MktPrice before EOD.

3.All I said is for ICICIDirect only....not sure if HDFC has it. May be yes.

4.Look at the TradeBook, which reflects all your Trades without Brokerages. Next Day Brokerages also will be there.

Cheers
 

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