Intra Day with Reliancemoney Insta Trade

S

saivs

Member
#1
#1
hello,

I recently started about a week ago with online trading with reliancemoney. I have been doing some stock buying (delivery) for short term, though i'm actually trying to get a hang of the whole situation and feel.

Now i'm a bit confused about the Intra day in Reliancemoney INSTA TRADE. I am always dealing with cash only (No - Margin/ATST). Now what I am not able to figure out what intra is day all about??? I read the definition and the meaning of it. But what I want to know is, how do I go about it?? When I buy a certain stock at any point of time in a day, then do I need to sell it the same day?? Or can I keep them if the stock doesnt take the Northward direction and instead takes the route South??

There are some options under Product Type drop down box, they are Delivery, ATST, & Margin. Now what I understand is that I dont have the support for Margin because when I opened an account with reliancemoney, it was evident that there would be NO MARGIN for this specific account type. Atleast thats what I assumed. Cos I opened a bank account with zero balance which is linked with reliancemoney. So I guess that I dont have support for margin.

In the above case, then how do I do intraday trades? Do I need to use ATST( Aquire Today Sell Tomorrow) for intraday? But the name suggests something else other than intraday. So i'm a bit confused.

Can, anyone familiar with the reliancemoney insta trade account, kind enough to guide me how to do intraday??? I want to get familiar & learn.

Saivs
 
R

rutanju

New Member
#2
#2
INSTA DAY is one and the same as INTRA DAY which means you buy or short a specific equity any time of the day but you have to clear your position by end of trading day In most case by 2:50 PM or 3:10 PM depending on the brokerage firm.

Now I dont know about reliance money brokerage structure but in case of other firms this is a feature used by lot of daytraders widely because of 2 reasons.First is that you get 5 to 6 times the exposure and second is your brokerage ranges from .01 to .05 paisa per 100 which is way cheaper compared to delivery brokerage generaly .15 to .25 paisa.

hope this was the answer to your question.
 
K

kosaraju12

New Member
#3
#3
i was also a bit confused in the begining when i was operating reliance money insta trade the best thing to do is go to the reliance money outlet near by at the end of market closing time thats when they will be free to explain u in detail and clarify any doubts. its not that easy to explain this way u need to see it to grasp......

sandy123
 
S

saivs

Member
#4
#4
kosaraju12 said:
i was also a bit confused in the begining when i was operating reliance money insta trade the best thing to do is go to the reliance money outlet near by at the end of market closing time thats when they will be free to explain u in detail and clarify any doubts. its not that easy to explain this way u need to see it to grasp......

sandy123
Click to expand...
Thank You very much, will do the needful. Will walk in tomorrow to a nearest office.
 
L

lucastp_532

New Member
#6
#6
do not think about brokerage at all , it is cheap, and u can use exposure , but never take a delivery unless you are sure about the stock or ull make loss.:)
 
P

pulimath

Member
#7
#7
Dear Friend,

Please dont misguide person

In RelianceMoney Insta Trade is a web based trading platform where streaming quotes are displayed and we can place orders by right clicking the respective trickle instantly

It is not for intra day tradinging only and is usualy given to high volume traders

Another platform is easytade in which you have to place order for scrips using a full trading screen which is slow

Got clear now ?
 
V

ventech_2004

New Member
#8
#8
Hi Friends,

Its my second post in this site. I have never posted before in any other site. I felt compelled to help you out.

In Reliance there are 2 trading platforms.
Reliance Easy Trade-For putting orders and following up with order book.
Reliance Insta Trade-For Streaming Quotes.

You can put orders in both this platforms. But its ideal to use easy trade. Its more user friendly than Insta Trade. Believe Me!

In Reliance there are three types of order. They are Delivery, Margin and ATST.

Delivery-U can buy for the money u have in your account. You cannot short in this.
Margin-U can buy or sell upto 5 times the amount which u have in the account.
ATST-U can sell the shares which are in T+1 and T+2 via this.

In reliance there are only specific stocks which u can trade. The stocks available for trading in various baskets like Delivery, ATST and Margin are available in the scrip list. U have to select it accordingly to see it.

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.

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.

PROS of Reliance Money: -
1. One Paisa brokerage for Buy or Sell which ever is higher in Margin Trades
2.Only Rs.12/- per order. Irrespective of the quantity.

CONS of Reliance Money: -
1. Server gets disconnected frequently.
2. Server is damn slow even with P IV, 256 KBPS Airtel BB.
3. At times the link between NSE and Reliance gets disconnected. So your order would be executed but it will not show that. After the end of the trading it would be flushed showing that you have either shorted or longed.
4. Pathetic customer care service 022 39886000. Long wait in the queue. Average time more than 15 minutes.
5. Frequently gets disconnected during the trading day causing your sugar/pressure to sky rocket.
6. When the server gets disconnected even the customer care people can't help.

Thanks and Regards
 
S

saivs

Member
#9
#9
ventech_2004 said:
Hi Friends,

Its my second post in this site. I have never posted before in any other site. I felt compelled to help you out.

In Reliance there are 2 trading platforms.
Reliance Easy Trade-For putting orders and following up with order book.
Reliance Insta Trade-For Streaming Quotes.

You can put orders in both this platforms. But its ideal to use easy trade. Its more user friendly than Insta Trade. Believe Me!

In Reliance there are three types of order. They are Delivery, Margin and ATST.

Delivery-U can buy for the money u have in your account. You cannot short in this.
Margin-U can buy or sell upto 5 times the amount which u have in the account.
ATST-U can sell the shares which are in T+1 and T+2 via this.

In reliance there are only specific stocks which u can trade. The stocks available for trading in various baskets like Delivery, ATST and Margin are available in the scrip list. U have to select it accordingly to see it.

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.

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.

PROS of Reliance Money: -
1. One Paisa brokerage for Buy or Sell which ever is higher in Margin Trades
2.Only Rs.12/- per order. Irrespective of the quantity.

CONS of Reliance Money: -
1. Server gets disconnected frequently.
2. Server is damn slow even with P IV, 256 KBPS Airtel BB.
3. At times the link between NSE and Reliance gets disconnected. So your order would be executed but it will not show that. After the end of the trading it would be flushed showing that you have either shorted or longed.
4. Pathetic customer care service 022 39886000. Long wait in the queue. Average time more than 15 minutes.
5. Frequently gets disconnected during the trading day causing your sugar/pressure to sky rocket.
6. When the server gets disconnected even the customer care people can't help.

Thanks and Regards
Click to expand...

hey Ventech,

Thanks for the information dude. I really appreciate that. I had been facing some probs with the instatrade account. Now recently there had been some issues that I needed clarification for....agree with u in all aspects, the CustomerSupport is pathetic( if this word conveys the deepest meaning).

I need some clarification, I shorted(5) some scrips and I was not in posession of the scrip. So what is the procedure that they follow??? I had 20k fund in my account at the beginning of the day and by evening it was not showing.....only a small amount was showing. Do they impose any fine or anything of that sort, apart from the scrip price(rs.3200), do they charge/fine ??? I'm just too confused about the entire process, and believe me I had been calling customersupport for the past 2days and they put me on hold and its never answered and I had been baffling myself for the past few days to resolve.

So if u can pls do answer my point. Thanks in advance.

Sai
 
F

fast_rizwaan

Active Member
#10
#10
Saivs,

Short will automatically get covered by 3:10 pm. So, You must cover (square-off) your position before 2:55pm.

The Ledger balance shows wrong amount after 4pm till 11pm. see your ledger balance in the morning.

You can see your current position - loss profit by going to "Today's Position" in Equity (in instatrade) and Reports (in easytrade).

As RM has auto-square-off at 3:10pm, you'll not be paying any fine/charge, except the price-difference between your short-cover and brokerage+stt+turnover tax which comes around 0.02%.
 
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