Never Trade in Indiabulls !!!!

hi disciple, no hard feeling meant...but see the joke of today...I asked indiabulls to shortsell vsnl at 430...and when, it touched that level and fell to 421, I asked them to squareoff (Buy)...I was informed they had infact purchased the stocks at 430....the RM apologised for his mistake(finally indiabulls has accepted that they have done a mistake)...I then could squareoff at 427..but still a loss of few thousand......

this type of mistake had happened earlier once.....this time i've left them after a strong warning.....

you are lucky man, that you could take cool with them..I've finally decided to trade cautiously till my money is recovered..

ganeshhity

Hi Ganesh,
The RMs r not at all good in INDIABULLS----but probably they r not as bad u r claiming---Any way---Why dont u just put the trades urself ----even in between ur business works---unless u do have serious constrains---
By the way----I do really enjoy ur jokes---Kudos to them
Regards,
joy_mitali

Joy,

Long time No See....

Satya

Hello Ganeshhity,

Well my dear friend, u have done it again..As i said , it is not at all advisible to trade through RM since orders taken by them are not officially maintained and when you have the mean to do it officially , then y go through RMs for placing order.It will take 1 min to place order through phone terminal or through web based or PIB..

Regards
Mohammed Bin Haid

Hello Ganeshhity!
My friend,I can understand your problem.All I want to tell you that please do not place order with RM.If you are not trading through PIB,Always use the dealer phoneline in which every conversation between you and dealer is being recorded in market hours.In case if the dealer makes the same mistake as your RM did you can challenge Indiabulls.Your recorded conversation is the key.I have seen many dealers paying the loss to their clients account with their own money for making mistakes.All I want to tell you that PLEASE use proper channel to place your order.If you are not serviced well,then SHAKE them up friend!
Hope you understand my words!
Happy Trading.
Disciple.

through phoneline, explain me the process asap......should i call indiabulls and ask them to call me back..is that recorded..

ganeshhity

Ganesh,

Get the phone no. of the dealer/s at your branch and place your order only thru the dealer not the RM. All orders placed thru dealers are recorded.
As simple as that

Dear Haid,
A small query....What i've done from today is that i call that RM and ask to call back...I get a call from his branch thru the people who take orders..I place orders like this...hope this is recorded..........

One more thing, dear haid, I've made all payments thru cheque and online transfers....the money has gone into the indiabulls account accordingly.... but according to me the balance that is reflected in indiabulls account is less than what i expect......
Dear haid, just a query, is it possible to withdraw money from my account without my notice ???even if they withdraw, I hope that goes directly to my account...and what are the modes of withdrawal..

ganeshhity

Dear Friend,

I am there with you. My experience is different. Recently, I recd. client master info. I was shocked to see: (1) My name/secobd holder's name is wrong. (2) my contact number is totally different. (3) my bank account details are 100% wrong. I do not even have account with HDFC. (4) my e-mail id wrong. I was turned to Christian name in the said unimaginable e-mail id. (5) Do u think my address is written correctly? Sorry, there too a lot of mistakes.

Incidentally,

We hv 2 a/cts. with them. In another account also everything is wrong. The joint holders name is written that of my Father, who expired on 5th July 1985?. Is it not wonderful?.

I wrote back to them with the details and ordered them correct all mitakes and give me feed back. But who is bothered?. I had threatened to close down both the accounts. Yet not bothered. So before going through this articles, co-incidentally, today I submitted closure application in respect of both the accounts.

In addition to this, I had come across with the following (1) They are more concerned with interest, even if it is Re. 1. (I had paid Rs.1.04 as interest). Interest starts calculation from the day of trading, not from the day of pay-in. When we ask for payment, we are sent cheque after 1 or dys, takes to reach me another 2 days, and another 2-3 days for clearance of the cheque (They do not have direct credit/debit facility with UTI). But interest?. No, it is one way traffic. There are cases when shares bought are not credited till reminded, ledger entries are not made till reminded, contract notes not updated on time etc. contract notes are regularly delayed.

A word of appreciation, however. They are very prompt in chrging interest even for a day.

Hence I am quitting with 2 accounts closure.

Regarding ICICI, I would like to inform that it opens on its own sweet will, logs-in as and when it feels and above all the software senses when I leave for urination, i.e. when I come backs for re-log-in. Every minutes long-in and log-in, which is a major headache. It is not meant for regular traders. Hence, I am in search of good alternative. But this time, I shall have to very careful. I have lost much money in account opening formalities itself. So far, nothing is good.

Dear Friend,

Sorry to hear that too...now listen how good i've become after trading myself.. I bought vsnl with 50% of my worth at 422...then when markets went down, I repurchased at 399...now if i sell at say 430 tomorrow, I would have covered a huge part of my losses...If I had trusted that RM friend, he advised me to buy intraday (you are aware that you get 10 time limit) vsnl at 430...boops...I would have lost all my wealth by now if I listened to him today..thank god, I worked on my common sense...(Dear haid, all due respect to you)...Vsnl is trading at 397 now..I would had to square all my trades as it would have been intraday...

ganeshhity