1. Paisa will take 2 days to come to your account. But you can still use the money (money in your account + profit money from todays trade) to do trading.
2. I believe you might not be in profit of 75 paisa, but you might have to take minor losses as there are STT charges and other charges. Call customer care for more details..they expalin it really good in sharekhan
3. After you buy a share, lets at rs.100, you can put a stop loss sell order of rs. 99. Enter sell price as market order, and in the stop loss field, enter value of 99. So, if the share reaches rs.99 value, you shares will be sold and you will be making loss of rs.1 per share. SO, stop loss is used to cut your losses. Again, call sharekhan call centre to understand how to put stop loss orders.
Following is the extract from Saint's post about stop losses. Read it...
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STOPS
Whenever there is a trade that we get into, we put in a stop. The stop is that area where we say, "Enough is enough!" The stop is not put in after one has lost 80% of our portfolio and one has given up with life. I see it quite often here where one gets in on a tip because someone says so, and then take a huge loss and then say that the trade was stopped A stop is a predetermined level, put in BEFORE the trade is got into, the word BEFORE being an important word. I hope I do not sound lunatic when I say this:
BEFORE the trade, BEFORE the trade, BEFORE the trade, BEFORE the trade, BEFORE
That stop that one has determined BEFORE the trade can be a mental stop. A mental stop is one that is not exactly broadcasted to the broker, etc it's a technical level the break of which one does not stay in the trade any longer. Now, the irony of this mental stop is this: Please DO NOT keep the mental stop in the mind. WRITE DOWN the stop If one entered SATYAM at 650, with a stop at 620,and a potential target of 750,write it down.
SATYAM, entry-650, stop-620, tgt-750, rew:risk=3.33:1,etc etc
If SATYAM hits 620,that is it, one is out of that trade. One either looks elsewhere, or plans a reentry into Satyam, but what one never, ever, ever ever, ever, ever, ever does is to let the stops get blown through, then hold it, pray to God, run to the nearest temple, church or mosque, pray even harder, and then try to strike a bargain with God if HE manages to pull the stock back up, beat the chest, shout at one's wife, have sleepless nights, all the while allowing it to slide, all because one wants the stock to get back to breakeven.
Trading is a profession. It's a business. It is not a place where one hopes to strike lucky, you could, maybe once, maybe twice but the person who does not have a strategy ,a plan ,will in the long run come to ruin. As the famous saying goes, "Plan your Trades and Trade your Plan."
A predetermined written down stop is vital for long term success, it is vital for our mental balance, and only a disciplined trader adhering to his/her plan can see the multiplication of wealth, and a regular flow of profits.
Once again, to re-stress a stop is planned and written down BEFORE the trade!!!!!!!
I apologise for sounding like a broken down tape recorder on this one but I do hope that as a beginner to trading, one does realise its importance.
There are many types of stops the ones that come to mind
(A) INITIAL STOP
As described many times, this is the stop that we put in before we even put in that trade. This stop can be placed with your broker if in intradays, else, a written down exact point after which no more nonsense is going to be taken from this trade.
(B) TRAILING STOPS
As the stock moves higher, we use trail stops. Again, there is software that does it, of which I have no idea. There are very many methods that does it using pivots, or moving averages, or two-three previous bars break method, etc
Whatever the method used, the most important point is that once the trade moves in the direction required, the stop has to move up to breakeven first, and then upwards, till stopped.
C) TIME STOP
When the trade does not go your direction in that specified time, and money could be deployed elsewhere, and the initial stop is also not taken out, one employs the time stop or boredom stop.
So, that covers that the moment we get into a trade, and the trade never sees green, and hits our INITIAL stop, that's it. We are stopped out. The trade goes in our direction. We apply TRAIL stops. After getting into a trade, and nothing exactly happens, and that wasn't part of our strategy, then we could employ a TIME stop.
Whether we take a TIME stop or not is our call to make but no compromises if the INITIAL stop is hit. We are out, and that's that.
Now, as discussed before, a stop is a predetermined point. Another issue, a fault by many and is a crime punishable by the guillotine a stop once placed has to be respected, once that point is reached, one cannot push back that stop. Part of the trading discipline, part of the plan of attack.
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