Please AVOID RELIANCE MONEY

spiritunit · #11 14th December 2007, 08:11 PM

I am too having problem with reliancemoney, I created my demat a/c just a month back... now I like to switch off to some other broker.. is it possible to create another demat a/c while there is a demat a/c exists on reliancemoney or should I close the demat a/c on reliancemoney before getting new demat a/c with other broker?

I like to do trade online with my computer, so I need a broker that provides demat a/c, trading a/c, bank a/c merger.. is there anything avail..?

mentor9k · #12 14th December 2007, 08:22 PM

thank you,
even i had planned to open demat account for rs500/- . now a big NO. I think this wrong tactics they are follwing from dhirubhai era itself. You never know these people. they say something and do the Ulta thing like Ulta Perk.

bobomonkey · #13 14th December 2007, 10:49 PM

My sympathies to people who have lost money trading futures or shorting. But please, if you are a newbie you have no business shorting or playing any kind of leverage not even nifty futures. This is the lesson i have learnt the hard way.

You gotta make atleast 100 trades in delivery before you move to futures or shorting. Shorting in indian market is just fool hardy, the risk outweighs the little and very efusive profit. For starters play the nifty before moving to stock futures.

To all the people who have lost money, let me just say that you have paid the "guru dakshna", you have come out of this wiser. All great stock market people made terrible losses to start with. The important thing is to learn from the mistakes and keep trading. The pain will last for a while, its part of the learning curve. If you run away from the markets you will be the loser.

Again I would request newbies to stay away from leverage and shorting. SHORTING THE INDIAN MARKETS IS SUICIDAL, THE RISKS TOTALLY OUTWEIGH THE REWARDS.

Happy trading and may you all make tons of profit in the new year.

SHASHIRAVI · #14 14th December 2007, 10:54 PM

Exatly Correct. In My Opnion Newbies Invest Only For Long Term

kuriako · #15 15th December 2007, 11:01 AM

Quote:

Originally Posted by bobomonkey

..............

Shorting in indian market is just fool hardy, the risk outweighs the little and very efusive profit.

SHORTING THE INDIAN MARKETS IS SUICIDAL, THE RISKS TOTALLY OUTWEIGH THE REWARDS.
...................

Dont know if this is correct!

bobomonkey · #16 15th December 2007, 01:35 PM

Quote:

Originally Posted by kuriako

Dont know if this is correct!

We are in secular bull market. We keep making new highs even when the whole world is mourning sub-prime and us economy slowing down. Shorting is advisable in markets like US where the growth has just stagnated and economy is slowing down. Atleast the newbies should avoid shorting the indian markets.

ratan jain · #17 15th December 2007, 01:38 PM

Quote:

Originally Posted by kuriako

Happens if you dont have good relationships especially with your relationship manager!

Offer him a tea, offer him free lunch...
Call him often after market hour, ask him how is his family doing, send him joke sms, send him seasonal greetings, treat him with sweets in diwali!!!

Dont forget to treat the branch manager also!

The amount spend in this process is far less compared to amount lost in market!!!

Only this personal relationship can save a "very small" investor or trader!

Just a newbie viewpoint!

OR ELSE

Give him good "turnover" and cover him with cash in the form of brokerage!

Hey Kuri, you are showing the loooong way

When I opened my account with reliance money ( Fictional of course... no trader worth his ticks trades with reliance.. ), I just had to keep my RM's wife happy

and the rm would take care of alllll my loosing trades, put them in other losers accounts, and I would have to just worry about scheduling my next visit to withdraw money from the ATM...

shanku1061 · #18 15th December 2007, 05:27 PM

HDFC is having less of complaints. People opened with HDFC knows there lame features. Except for that HDFC is ok with whoever I knows. Dont know whats the opinion from others.
1. They are not having any software for the quotes and all, its quite tricky with them.
2 Also in few minutes of inactivity the system logs me off.
Except for these to shortfalls I find HDFCsec.com to be reliable.

rutanju · #19 16th December 2007, 02:39 AM

i suggest religare is much better compared to these scums.I been tradind on their race-pro and have experienced down time very few times.Also on my trade +five days delivery plus they had down time and i called area manager he heared my complaint and adujsted my account for trade+8 days so i could clear my positions I have no complaint about them

hari09omkar · #20 16th December 2007, 09:37 AM

Quote:

Originally Posted by bobomonkey

We are in secular bull market. We keep making new highs even when the whole world is mourning sub-prime and us economy slowing down. Shorting is advisable in markets like US where the growth has just stagnated and economy is slowing down. Atleast the newbies should avoid shorting the indian markets.

U r right about our bull market story.But shorting will depend on the time frame with which one is trading....if it is intraday shorting or for 2 to 3 days,then it's short for short-time,which will not depend on the primary or secular trend,rather d minor or hourly is important.
Economical health has nothing to do with trading,long or short,in the short to medium time frame,be it USA or Pakistan.