Tips to trade on indiabulls

Hi all here are some tips to trade o IB.

1. Never use margn funding unless absolutely necessary. If you take, keep checking the exposure link as positions are settled daily. So it will keep changing.
2. DO NOT LISTEN TO TIPS from RMs of IBs. Just for fun, I used a lil amt of money to go exactly opposite the RMs reco, and made some money. This does not imply anything, but the results are fun. NOTE: I used my judgement too. NEVER DO DAYTRADES WITH THE TARGETS the RMs keep sending. I told them not to send any messeges to me.
3. Click on IFSL link and combined net portfolio to see your entire portfolio. Click on combined account summary here to see your position.
4. DO NOT OVERTRADE. MARGIN IS NOT THE SAME AS CAPITAL> YOU WILL BLOW UP irrespective of Indiabulls or others.
5. Use HDFC Bank A/c. Transferring money is a hasslefree affair. With Geojit use UTI Bank for the same. (Note in ICICI, you can transfer money back instantly. But here you will take 2 days for online transferring back too.
6. IFSL is no more directly funding you. So u should get a simple statement in future.
7. Keep checking your tradebook to see if any trades have happened w/o your knowledge. They cant hide that.
8.PowerIB is one of the best software available today in the market. Make full use of it.
9. ALways place LIMIT orders. Else it takes quite some time to execute. You feel someone is taking positions against your order (though IB claims they dont do proprietory trading)
10. Brokerage is one of the best in the industry.
11. RMs are one of the crapiest in the industry. Complain about them and get them changed if required.

I CANNOT COMMENT ON THE FINANCIAL HEALTH OF THE COMPANY OR THEIR INTEGRITY. I CAN ONLY TALK ABOUT THE TECHNICAL ISSUES THAT I ALSO FACED INITIALLY AND NOW SORTED MOST OF THEM.

Beginer_AV,

Nice helpful post.

Ref point 2.
Yes what you said is quite correct.The RMs dont care whether one makes money or not what they care is how much turnover the clinet is giving.BTW it is easy to say than to do.When I was with 5paisa my RM constantly sent me rubbish tips and motivated me for trading,infact over trading.That time I was a newbaby and got motivated and lost a huge part of my capital.So, what I mean is its easy to say that ask the RM not to give tips but do you think RMs will listen....this is their job for what they are paid so even if one says that he dont need tips they will keep on giving.What I want you to ask is how to TWEAK the RM.Dealing with RM is not that easy( no arguments here please).
So can you please tell me how did you tell your RM not to give tips...rather just say how did you handle your RM.I am personally awaiting for your reply.

Ref point 5.
Yes with Indiabulls one thing that I like most is that I can withdraw my money instantly( next day it credits in my account, I have HDFC ).When I was with 5paisa it used to take 1 week and I have to plead for my own money.Give reasons to them why I am withdrawing.The 5paisa, electronic payout request is of no use.You have to call them.Update them.But here at IB just request today before 12 and next day you are with the funds.

Ref: point no 11.
Dear freind,this is the most daring issue.I made a worst mistake in my life .Made a complain of my RM to 5paisa.The complain was not attended and nor the RM was changed.But the RM came to know that I have made a complain against him.So he started taking revenge with me.He used not to attend my telephone for tele orders when my net used to be DC.I used to call him again and again and after 10-20 times he used to attend my call and talk rudely.Freinds you cant imagine I am still in that complex.I cant forget all that though now I am with IB.After this incident i feel that complaing abt RM is the worst mistake,infact one should silently close the account if he is not satsified with RM.Like I closed my account with 5paisa and shifted to IB.
Once again, the nightmare that I had with 5paisa I can forget.I feel scared frightened to complain abt my existing RM at IB( though till now he is OK but in future if he is not I cant do anything).
So dear freind, can you tell me guide me how to make a complain of RM so that saap bhi mar jaaye lathi bhi na tute......it also serves your purpose andRM also dont object???

Istead of dealing through RM's, it is more advisable to work directly, if you have the necessary facility like computer etc and the IB software.
If you have to deal over the telephone, it is better working directly through a broker instead of though IB's RM.
Some IB's are good. They a concientious and regularly follow up with orders or any difficulties. Others just forget about you after opening of accounts.
This is partly to do with IB's hiring policies.
Their RM's are just given targets for opening new accounts. If they fail to meet their targets, they are fired.
This is exactly what one RM told me. It must be true.
R.S.Sharma

Yes i agreee nice post

(POINT NUMBER 4) do bear with me on my question on this point as i am a newbie. What does overtrading exactly imply?

I also wanted to know whether the PIB software can be connected to Metastock. And i presuppose that PIB is a TA software?

MusicJunkie