friends
please read old posts on 5paisa.com
1.They have frequent server failures and if you cant make out whether their server failed or yopur internet connection failed,then you are finished if you are day trading,
Reason:THEY DONT HAVE AUTO SQUARE OFF FACILITY
2.They have a special skill under above circumstances that they wont help you but push you to go for auction.
what is the result?
The day trader who goes to make 2 rupees profit will end up paying 20 rupees in auction.
One of our friends ended up loosing about 80000 plus in a single day trade as 5paisa server was out and they wont bother to do anything to help clients except causing losses
Think 100 times before going to 5paisa.com for daytrading if you cannt bear 80000 loss in a single day trade.
If it is Indiabulls,they stop your daytrading by 1500 hrs and promply square off your pending positions by 1510hrs latest.
DONT TRADE IF YOU CANNT LIMIT YOUR LOSSES.
AND
DONT TRADE WITHOUT AUTO SQUARE OFF FACILITY TO KEEP YOUR SHIP AFLOAT,NOT SINK.
Daytrading precautions
1.Never trade without stoploss(protection against power failures,server crashes,internet connection failures or pc failure-crash)
2.Never trade with that broker who does not have auto squareoff
3.DONT EVER DAY TRADE WITHOUT enough of spare money,and instant electronic fund transfer favility over net in case of shortage.
4.Keep a limit of how much worth of positions you take.If you have trading money of 100000, play only with 50000.
5.DONT GIVE CHANCE TO GO FOR AUCTION.
IF POSSIBLE DONT DAY TRADE at all.
rEMEMBER
YOU HAVE TO MAKE MONEY.of course you broker can also make money.but NOT at your expense. Ideal situation can be 2 to 1, you make 100 rupees you can give 50 rupees to your broker.
If not,AT 1 TO 1 RATIO, it is not worth trading.
Last of all,you are not in trading to make your broker rich.
win -win IS OK.
WIN-LOOSE NOT ACCEPTABLE.
The moment you find your broker is your limitation to make money,leave him go and open another trading account. It does not matter to open one more trading account with another 5000 rather than keep loosing money in tens of thousands.
Opening a couple of extra trading accounts is not a penal offense nor you will be punished.GO FOR IT.
Remember the saying when you make trading losses
"If you keep doing same old things same old way, you keep getting same old results.when results are negative,change your way of doing things. Of course,if youare getting good results,record them ,sharpen your skills,keep doing those profitable things again and again."
If you cannt do it by it by yourself, if you cannt make money in trading,if you are getting hit everytime you trade,then GET HELP.COME to traderji,post your problem.and surely a solution will be found.till such time hold your trading.
Happy trading and with at least equal profit to brokerage sharing with your broker.
ford
Want to loose your shirt,pant(underwear excluded)?
tHEN DAYTRADE with which broker? answer is there.
