Intra Day with Reliancemoney Insta Trade

sanx · #11 2nd February 2008, 02:02 PM

Where can I see the transaction history in reliance money ?

Ex- I have 50 k balance in ledger , i took 45 k delivery of a stock , the remaining 5 k should should show in ledger right , and if suppose i get a dividend of 500 rs it should show up on my ledger right ? and I should know where that money came form . Is there a detailed transaction showing where the money went and came back from like in ICICI bank linked to demat .

sattimes · #12 4th February 2008, 09:09 PM

Quote:

Originally Posted by sanx

Where can I see the transaction history in reliance money ?

Ex- I have 50 k balance in ledger , i took 45 k delivery of a stock , the remaining 5 k should should show in ledger right , and if suppose i get a dividend of 500 rs it should show up on my ledger right ? and I should know where that money came form . Is there a detailed transaction showing where the money went and came back from like in ICICI bank linked to demat .

hi,

u can check in ledger report ( not in trade tab, but in the home page when u login)

But the dividends are not credited directly as in IDirect, they will send u the cheque , which u have to deposit personally

rakeshmalik · #13 5th February 2008, 09:38 AM

dow.nikkie,...hengseng..shanghai all red...market may go..bearish..be carefull.

parag2122 · #14 6th February 2008, 09:22 PM

HI,
THIS IS MY FIRST MESSAGE TO ALL,REGARDING BROKER SERVICE...I HAD MY F/O POSITION IN LAST MONTH AND ON 22nd JAN, AT LOWER CKT IN SENSEX, THEY SQUARE OFF MY POSITION WITHOUT PERMISSION ( EVEN NOT TOO MUCH SHORT FUNDING)AS MARKET WAS RECOVER AFTER OPEN AT 10.55AM...THEY RUN FILE FOR SQARE OFF FOR ALL OPEN POSITION AT10.54 AM. ...SO I LOST NEARLY 3.5 LAC ..WHILE ALL ARE NORMALLY CHECKING POSITION FOR SHORT FUND AT END OF THE DAY..SOTHEY DEMAND FOR SHORT OF MARGIN..TO SAVE THEMSELVES THEY CLEAR OFF ALL CLIENTS POSITIONS,,,OTHERWISE THEIR TERMINAL MAY CLOSE ...AND THIS BROKERAGE HOUSE CHARGING 15K IN ADVANCE YEARLY FOR LOW BROKERAGE...CAN ANYONE IS HERE TO CLARIFY FOR THIS?........IS THIS FAIR?........ AS THAT WAS MY FIRST DEAL WITH THEM.......AFTER MANY INQUIRIES THEY WERE NOT AVAILABLE IN OFFICE ALL SENIORS ARE ON LEAVE FOR 3 TO 4 DAYS FOR PERSONAL REASON...AND AFTER 7 DAYS THEY REPLIED THAT MARGIN WAS 108% SHORT ...AT THE CIRCUIT TIME @9.56A.M ON 22nd JAN...IF THEY NOT SELL AT SAME TIME THEN END OF DAY MY POSITIONS WAS RECOVERES ALMOST95%...SO NO NEED OF SHORT FUNDING BUT THEY CANT THINK THAT WAY...PLEASE POST YOUR VIEWS ON THIS ISSUE........THANKS IN ADVANCE..

hareshbhaip · #15 23rd February 2008, 07:37 PM

Dear Freinds,

Is Reliancemoney is providing SHORT?

NO NO and NO, If u r not having delivery in yr account, it does not take any sale order, so where is the problem to cover?

Ambani bandhus are ADVANCE is all sectors, but TOO SLOW in Trading Platform. Most Bogus Platfrom for trading eventhough its brokerage is LOW but Platform is not FAST.

H PATEL

ucalegon · #16 24th February 2008, 03:39 PM

I've used Reliance Money a lot and have some things to say:

1) Sometimes you can place an order and it goes into a status called "In Process". And you will never know if that was executed or not, which is a pain. Even cust service can't help - I got a reply saying "sorry but we don't have a reply from the exchange". What's the point of that? I once thought I had squared off but the order hadn't gone through, showed me "in process" and later when I called htem up I had to square off again, at a considerable loss.

2) Their brokerage is the absolute lowest. 2500 flat for Rs. 6 crores of margin (includes F&O) trades, of which 60 lakhs can be delivery. Good for a long term person or for swing or positional trades.

3) Currently their F&O margin is like three times the one given by Sharekhan. One lot of Infy takes about 80 K margin in RM, versus 28K in sharekhan (my experience on Thu)

4) Their servers are slow. VERY VERY slow.

If you are an intraday trader or someone who does tick level trading, or does very short moves you are hosed with RM don't take it. In fact it seems to me that the 10 points (in Nifty futures ) that I save by going to RM is sometimes ruined by the speed of execution - nowadays 10 points is about 20 seconds

Still, RM can be quite useful specially for options trading.

murali.cr · #17 7th April 2008, 09:57 AM

Quote:

Originally Posted by ventech_2004

Hi Friends,
Regarding Margin trades-Please!! Please !! Please!! Close the positions within 2.50PM Max. I have been trading with reliance for the past eight months. Believe Me. If you let them to square off they will buy at higher price and sell at lower price. U can think that they have nothing to do with that. But I have experienced it more than 20 times. They tend to bring down or up the total market. Maximum that will be against your open position.

Even I feel sometimes like that... But it can also be coincidence. Do you think that they have that much money and people to move the market just to gain little from our open position? So far I observed that it as a general trend to break the trend in the afternoon hours... Say from 9:55am to 1pm it follows a trend and then the same is broken and it goes wild

Quote:

Originally Posted by ventech_2004

If you are not able to close your position before 2.50 PM leave it. Dont do a buy or sell after that. Some times it may cause shorting or longing. Longing costs your limits and shorting takes it to auction on the third day. You cannot use the shares available in your demat in case if you have shorted.

Do you mean converting the Margin position to Delivery?

mk4r8 · #18 9th April 2008, 10:26 PM

rm trading is ok for small timers.... if u r regular trader then rm is not for u....

deb99891 · #19 12th April 2008, 01:42 PM

for daytraders reliance money is the way to getting poorer very fast
the site is full of bugs
in momentum trading usually the squareoff time of daytraders is in between 4-15 minutes with some good money taking into pocket.
In reliance money insta trade( as this is a browser based platform ) usually the trade confirmation comes within 3/4 minutes.
Actual Scene:
u took position> price moved to ur desired direction whatever small the move may be> now the price is pulling back bery fast > price gone adverse of ur original entry point> then u got the confirmation of the trade.
tell me what u will do in this situation?
is it a loss incurred by u or the fault of reliance money?
the fact is that u lossed money .
any loss is a tution fee taken by the allmighty market from traders.
what lesson u got from this loss?
so think of it
do not go for the their lowest brokerage structure.
none of any use incurring loss only for reliance money.
best way to go for any recognised on line brokers who are doing business since long
regards
deb

harry3360 · #20 15th April 2008, 07:49 PM

Hi All

I am telling you a real problem i faced using reliance money and i am looking for ur advice. I had bought shares of Ispat worth 10K in jan 2008 through delivery. They continued to show in demat account till last few days. Few days back i short selled some(around 250) ispat shares in margin. as the trade started going against me so i tried to square off the order. but RM didnt allow me to cancel the order even when it was showing up in the order book. when i clicked at cancel option it used get rejected and gave message the the order does not exist. Whole day i jus tried to cancel or modify the order without success. At the end of the day the order was gone from the order book. Through the ledger balance and contract notes i came to know that the sale of those shares have been credited into my balance amount.means i received the money (about 6K). Naturally this should not have happened as i was trading in margin and i shud have been in some loss if shorted shares were squared off at the end of day. After two days i chcekd my demat account and all Ispat shares were gone. I checked the history and there was no sale of ispat shares anytime through delivery. all trades were through margin. Even contract notes showed the trade as margin trades only. And the fact that i had only less than 200 shares in my delivery account so i could not have sold more than 250 shares through delivery trade even by mistake.

I have called up and mailed to reliance money customer care thousand times without any reply. The local RM contact office guys didnt solved the issue for 2-3 weeks now inspite of contacting them daily. Daily they used to say the servers are down or they are contacting mumbai office. One day some guy told that if the position is not squared of at end of day then shares can be sold from delivery. This is jus ridiculus.

Kindly advice what can be done.