Using ICICI Direct for day-trading

#1
I have a trading account with ICICI Direct, which I would like to use for day-trading.

My problem is that I am a working person and am not in a position to access the net throughout the day. I can log on for the first half an hour and then after 2.30pm.

Can I use my account to day-trade within the limited time window that I have? Kindly let me know. If there is any other method for day-trading, please let me know that too.

Thanks in advance,

Pranay
9820668584
 
#2
Hi!
According to my humble opinion,daytrading is a full time job.If you can not devote full time please don't do it.
God Bless You.
Disciple.
 
#3
pranayd said:
I have a trading account with ICICI Direct, which I would like to use for day-trading.

My problem is that I am a working person and am not in a position to access the net throughout the day. I can log on for the first half an hour and then after 2.30pm.

Can I use my account to day-trade within the limited time window that I have? Kindly let me know. If there is any other method for day-trading, please let me know that too.

Thanks in advance,

Pranay
9820668584
How much would you like to trade with? A good amount & frequent day-trades will get you a DIRECT LINK that you can download to your computer & get a Live Terminal. Then again, can you track the scores between 1030 & 1430? That's the key question my friend.:)
 
#4
pranayd said:
I have a trading account with ICICI Direct, which I would like to use for day-trading.

My problem is that I am a working person and am not in a position to access the net throughout the day. I can log on for the first half an hour and then after 2.30pm.

Can I use my account to day-trade within the limited time window that I have? Kindly let me know. If there is any other method for day-trading, please let me know that too.

Thanks in advance,

Pranay
9820668584
Please Pranay, don't mistake me for an ICICI agent. I'm just another or'nery investor/trader with them like you, only difference maybe that I'm with ICICIDirect since 2001.:eek:
 
#5
Thanks Jaideep and Disciple,

I have got my answer....that daytrading is not for me! Let me continue with my medium/ long term investments. Maybe I will think about it 5-7 years down the line when I take a VRS.

Jaideep: to reply to your post, you rightly said that technology wont help if I do not have access to the PC from 1030 to 1430 hrs!!!

Thanks again and god bless,

Cheers!

Pranay
 
#6
jaideep said:
Please Pranay, don't mistake me for an ICICI agent. I'm just another or'nery investor/trader with them like you, only difference maybe that I'm with ICICIDirect since 2001.:eek:
BTW Jaideep, since you are with ICICI Direct for a long time, you can help me with this one. Wont MarginPLUS be helpful to me, since I can place both BUY and SELL orders at the same time.

I have not used anything on ICICIDirect except normal BUY/ SELL of shares and MFs, so I dont know much about it. Maybe you can help me.

Thanks,

Pranay
 
#7
Dear Pranay,

My suggestion. AVOID DAYTRADE. As Disciple said it is full time job. You should have watching your position all day long. May be with day trading you wont be able to do justice with either of them, i mean your job and day trading. Try short term (3days to 14 days) insteed.

After all you are the judge, and this is my suggestion. Best of luck.

Happy Trading.

CopperDesk.
 
#8
i think most of us are day traders.as copper said, you have to be full time day trader. rates and trend change in minutes. so medium term delivery calls are best for you. Happy profits
 
#9
jaideep said:
How much would you like to trade with? A good amount & frequent day-trades will get you a DIRECT LINK that you can download to your computer & get a Live Terminal. Then again, can you track the scores between 1030 & 1430? That's the key question my friend.:)

Even im a ICICI DIRECT A/c holder can u pls tel how can i get the link and the terminal. Did u mean i can open an a/c wid another broker or can i get a terminal with iCICI itslf???
 
#10
copperdesk said:
Dear Pranay,

My suggestion. AVOID DAYTRADE. As Disciple said it is full time job. You should have watching your position all day long. May be with day trading you wont be able to do justice with either of them, i mean your job and day trading. Try short term (3days to 14 days) insteed.

After all you are the judge, and this is my suggestion. Best of luck.

Happy Trading.

CopperDesk.

Thanks Copperdesk,

I guess you experts' advice is the one to follow.......daytrading is not for me. but i surely will get into it full-time someday. So I will keep following this site. Will surely start with short term as you suggested. Now, where do I get good tips from? I dont have a broker who can advise me. Any sites, communities, you can suggest?

Pranay
 

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