futures doubt

riser3

riser3

Active Member
#1
#1
I am a new bie to futures didn't place even my first order and can afford only 1 lot

If I buy futures Nifty @ 2800 and Nifty gains to 2815 the premium i pay is about 20%(maximum)

the lot is mininifty ==> 20 do margin would be 11,200.

i found that geojit charges a maximum of 280 (buy brok + sell brok + taxes)

1 ) does that imply that if market raises just 15 pts(i.e. 2815) i would break even (no profit no loss) is it really true

2) also if it falls to 2700 by settlement day supposing the loss would be 100 x 20 + 280 =2280 will they give my money back 11,200-2280 =8930 is it true
 
L

learn2trade08

Guest
#2
#2
buddy,
hope there is some mistake with the 280 thing as brokerage...brokerage of 280 is way too high...the most that i have ever paid for one lot of nifty was 50 rs and that was some 2 years ago...please make sure 280 is the right figure and if it is so then i guess its time for u to DEMAND a lower brokerage or go for some other broker.
all the best.

riser3 said:
I am a new bie to futures didn't place even my first order and can afford only 1 lot

If I buy futures Nifty @ 2800 and Nifty gains to 2815 the premium i pay is about 20%(maximum)

the lot is mininifty ==> 20 do margin would be 11,200.

i found that geojit charges a maximum of 280 (buy brok + sell brok + taxes)

1 ) does that imply that if market raises just 15 pts(i.e. 2815) i would break even (no profit no loss) is it really true

2) also if it falls to 2700 by settlement day supposing the loss would be 100 x 20 + 280 =2280 will they give my money back 11,200-2280 =8930 is it true
Click to expand...
 
riser3

riser3

Active Member
#3
#3
Code: 
This is the Brokerage charges and etc etc .. charges by geojit to me for
intraday F & O .Is it normal or i can get a better deal .?

Square Off - 0.03%

Buy / Sell of 5 lots Futures...

Brokerage For the Day 750.00 0.00
Service Tax For the Day 90.00 0.00
Educational Cess For the Day 2.70 0.00
Exchange Levies For the Day 45.62 0.00
STT For the Day 138.00 0.00
Stamp Duty For the Day 40.60 0.00
The above charges were mentioned by an geojit trader in this fourm itself
so i simply divided each charge by 5 and got a figure of 214

150+18+0.54+9.124+27.6+8 ==214

i have other doubts too which i think are basic to any one who has traded atleast once so can u pls clarify

thanx for the fasst reply learn2 trade2008
 
T

terminator_123

Active Member
#4
#4
riser3 said:
Code: 
This is the Brokerage charges and etc etc .. charges by geojit to me for
intraday F & O .Is it normal or i can get a better deal .?

Square Off - 0.03%

Buy / Sell of 5 lots Futures...

Brokerage For the Day 750.00 0.00
Service Tax For the Day 90.00 0.00
Educational Cess For the Day 2.70 0.00
Exchange Levies For the Day 45.62 0.00
STT For the Day 138.00 0.00
Stamp Duty For the Day 40.60 0.00
The above charges were mentioned by an geojit trader in this fourm itself
so i simply divided each charge by 5 and got a figure of 214

150+18+0.54+9.124+27.6+8 ==214

i have other doubts too which i think are basic to any one who has traded atleast once so can u pls clarify

thanx for the fasst reply learn2 trade2008
Click to expand...
Ya these are correct charges... their fno brokerage is way too high ..
I opened account with rkglobal just for fno. Justtrade also charges quite less..

As for the calculations..you are correct about the break even...
Futures will be marked 2 market daily so your profit or gain will be adjusted daily until you square off... if your margin falls short due to market movements against you, they might square off the trade..
 
T

terminator_123

Active Member
#6
#6
riser3 said:
thanx for ur reply terminator

can u tell what's there comission(brok buy + sell + taxes) for 1 lot and does mininifty have some concession
Click to expand...
I haven't traded with mininifty before.. but I don't think there will be any concession as such..

For geojit, charges are like this..
75 for buy + 75 for sell + 2*18 service charges + some other stuff...
When trading nifty, I assume my break even as 4.5 points when trading with geojit to be on safe side... (4.5 * 50 = 225)

For RKGlobal its 1.5 points...
For Justtrade, if you go for their web based prepaid, it should come to 1 point or less...

I haven't tried any other brokerages for fno...
Also keep in mind that if you are a successful trader, brokerages hardly matter... Personally I feel having it a bit or so high prevents us from over trading... But since you are learning and trading with mininifty, suggest you go for any other broker...
 
T

terminator_123

Active Member
#8
#8
riser3 said:
also can we short nifty

i.e. eg. sell @2840 and buy @2800 will executing both transactions complete a contract

another doubt if a persone has a long and short contract will they both be squared
Click to expand...
Ya you can do that.. selling futures is same as buying futures... margin is also same..

If both the long and short contracts are of same quantity, its nothing but squareoff..
 
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