ICICI Margin Plus orders!!!!!-Please help

mainak · #11 16th June 2006, 06:45 PM

Thats why I could not understand that while madea net profit of Rs.158/- ,the cash projection was only Rs117/-. Can you please send me the excel format (i hope u have already put in the formulae in place!!!!) to me so that I can also benefit from it.
my mail is: mainakcal@*****.com

Thanks Buddy

pranayd · #12 16th June 2006, 07:12 PM

Thanks for the clarification Siva,

I was under the impression so far that the cover order is to be placed for squaring off the position!!

Can you help with an example what are the typical prices we should put in Cover order, SL and Limit for a buy order? That will clarify things further.

Since you have been using this facility effectively for quite some time, you could give some tips on how to make good use of this facility. So far I have been doing things by trial and error (more error than trial!) method, without much success.

Prilia: Can I also get a copy of the excel sheet you have. You can send it to pranayd@*****.com

Thanks,

Pranay

Madosiva · #13 16th June 2006, 07:27 PM

Good Work Privilia,

Using an excel spread sheet is a good techique for calculating profits/loss while trading in Marginplus. I believe you must clarified all doubts of Maniak with your remarks. Please try Marginplus on shares with lower prices like Ashley, Hinmot, Petronet LNG, Indusind Bank, Banmah, Centurion Bank, IFCI, Nagfer, Chafer etc.,as you can make profits with every 15-20 paise movement and can trade many times in the same stocks in volatile markets.

Bye

Siva

Madosiva · #14 16th June 2006, 07:33 PM

Pranayd,

SL can be given based on market movement only. If the market is strong and the stock you are trading is also strong then you can give a SL closer to the market price but in volatile markets SL should be atleast 5-10 Rs. lesser / greater (in case of short positions) than the market price as it can easily get triggered in volatile markets. Please go through my article 'Day trading in Indian Stock Markets' in www.art-of-investing.blogspot.com and let me know whether you get any clarity on day trading after reading this article.

I apologize to Prilia and Maniak for misspeling their names in my previous message.

Thank You,

Siva

rajekc · #15 16th June 2006, 10:24 PM

Quote:

Originally Posted by Madosiva

Pranayd,

SL can be given based on market movement only. If the market is strong and the stock you are trading is also strong then you can give a SL closer to the market price but in volatile markets SL should be atleast 5-10 Rs. lesser / greater (in case of short positions) than the market price as it can easily get triggered in volatile markets. Please go through my article 'Day trading in Indian Stock Markets' in www.art-of-investing.blogspot.com and let me know whether you get any clarity on day trading after reading this article.

I apologize to Prilia and Maniak for misspeling their names in my previous message.

Thank You,

Siva

Hi Siva

I went thru' your blogspot, it was very interesting. I also day trade using icicidirect margin orders, since it allows to specify limit orders. I normally get in to long/short positions thru' breakouts, which are less risky and only after first 1/2hr of trading day. I use intraday charts for this. Tell me how u go thru' your trade by market orders using marginplus and at what time do you enter trade.

Thank You
Raj

PRILIA33 · #16 19th June 2006, 04:02 PM

Hi Guys,

Find my spreadsheet attached. Just enter the stock code. Under action choose Buy or Sell. This is used for calculating the STT component, which is applied only to the Sell Leg of the trade. Enter the quantity of shares in the under Quantity and price that your trade was executed at under price. The spreadsheet will do the rest of the calculation. It will also give you a total at the bottom (in Bold), which will tell you exactly how much profit/loss you made, how much is the commission and what will you be getting back. There may be a minor variation between the bank's calculations and this spreadsheet, due to rounding off rules.

Good luck.

hmp · #17 20th June 2006, 12:31 AM

Hi Prilia33

Thanks A Lot For Giving Us Such A Valuable Tool. In Fact I Was Also Looking For Such Device.its Very Kind Of U To Provide Us Information About Which I Was Very Confused Earlier.I m very excited to use it actualy.

Regards

Hmp.

PRILIA33 · #18 21st June 2006, 09:53 AM

Hi Hmp,

Hope the tool was helpful. I have been using it for a while and it helps me to decide what I should set my Trigger prices at, so that I do not end up squaring off a trade, only to find that I have not made enough profit to cover the commission.

Regards

Prilia33

ucalegon · #19 21st June 2006, 01:04 PM

Thanks very much for that, Prilia33!

I modified it for values that I use (12.24% tax, 0.015% turnover and stamp duty charges)

I have also put the values in a different sheet so that it's easy to change if STT etc. changes (which I use for sharekhan etc.)

Lastly i have also introduced a "break even price" - if you enter a transaction it will immediately tell you the break even price after reducing commissions etc. so that you can have that a stop.

I hope this helps, and thanks again to Prilia33!

- Deepak

Madosiva · #20 21st June 2006, 04:35 PM

It's good to see Prilia and Deepak sharing the tools they developed, with others. Thanks a lot buddies.

Personally i don't use any tools as i day trade with more than 4 brokerages and by experience i am able to ascertain my profit/loss after brokerage/taxes and play accordingly. But these two excel sheets are enticing enough, for me, to try them immediately and i hope to put them to use tommorrow.

Raj, i usually don't open my positions at the start unless and until i am clear with the Market Direction. Usually i decide by around 11.30 and play according to the market trend. Trading on stocks on threshold of a break out is good but at times it has a negative effect too. Order book can open in a new window if you visit the link in the right hand top corner of the get quote window. Offlate i am resorting to BTST trading to minimize risk in volatile markets.

Bye

Siva

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