Fraud activity Is it with one broker???

rickyric_ny · #1 16th February 2007, 11:59 AM

I am a daytrader. just wanted to know did any body come across this Cheat.

XYZ stock moves nice some days when I place a "buy" order the stocks does'nt move from that point onwards the stock falls and hits my "Stop loss". I felt india bulls is purposely playing this sort when I place a order. yesterday on a bull market, I traded with index. Index which use 2 move Rs.5 or Rs.10 with 5-10min. was struggling to move upwards came down Rs. -15 and went up beyond my price later (hope my operator could not make...as he gave a short sell call of that XYZ share and his SL triggered

...).I would like 2 know did any one faced this sort of problem. would like to know all the brokers or operator's or playing like this or only India bulls doing this fraud.

how could I track this and make a complaint in SEBI. please let me know???.

biyas10 · #2 16th February 2007, 12:06 PM

Quote:

Originally Posted by rickyric_ny

I am a daytrader. just wanted to know did any body come across this Cheat.

XYZ stock moves nice some days when I place a "buy" order the stocks does'nt move from that point onwards the stock falls and hits my "Stop loss". I felt india bulls is purposely playing this sort when I place a order. yesterday on a bull market, I traded with index. Index which use 2 move Rs.5 or Rs.10 with 5-10min. was struggling to move upwards came down Rs. -15 and went up beyond my price later (hope my operator could not make...as he gave a short sell call of that XYZ share and his SL triggered

...).I would like 2 know did any one faced this sort of problem. would like to know all the brokers or operator's or playing like this or only India bulls doing this fraud.

how could I track this and make a complaint in SEBI. please let me know???.

what are you talking about ?????

abhi_sh70 · #3 16th February 2007, 02:29 PM

I don't understand what do you mean by index ? You can check the Trade at the NSE site under Trade Verification by giving the required details or if you think the broker is manipulating then you can check the intraday chart of the particular scrip at the NSE site.

rickyric_ny · #4 16th February 2007, 02:58 PM

Quote:

Originally Posted by abhi_sh70

I don't understand what do you mean by index ? You can check the Trade at the NSE site under Trade Verification by giving the required details or if you think the broker is manipulating then you can check the intraday chart of the particular scrip at the NSE site.

index referred, trading on Nifty Fut.

nandu · #5 16th February 2007, 03:00 PM

Ricky,I know Motilal oswal and India Bulls are doing this dont have any idea abt. others.

beginner_av · #6 16th February 2007, 03:32 PM

Really! Thay have already started doing it? wow! what a story idea you have given me for writing a novel. thanks. just imagine...every client terminal runs a specific module. The moment u choose a stock and buy it along with a stop loss, u see quotes that only go down and hit your stop loss, while the actual market moves up, or remains steady. As soon as your order executes, the price moves and syncs with actual market price.

Interesting....

beginner_av · #7 16th February 2007, 03:35 PM

btw let me tell u something...a common perception is that brokers are out there to cheat u always. YES Many employees do that for a quick commission, but if brokers did it on a wide scale basis...there will ONLY be losers in the markets...and brokers will be out of business.

ps: i am not a broker. i am constantly struggling to find a good one.

jnj333 · #8 16th February 2007, 03:42 PM

This was posted on some other site, dont know how true it is but seems interesting-

"It is not difficult. It is easy, COMPUTERISED, and 'Facilitated'. It is infact as easy as clicking a mouse button or worse turning on an algorithamised software.

Most operators have software that works on top of a BSE or NSE trading terminal and does a host of thinks.

The facility the operator has is that he gets a message (even as an order is being typed at any terminal). The software operator has can automatically cancel order. The operator puts a bunch of orders say for 1 share or 10 shares (a host of them). Then at the end of the priority list there will be real big order. If a big buyer comes up, then the bunch of tiny orders get executed and slow up the system. The operator software detects the big order and automatically cancels the big order.

Today the word Operator refers to an establishment that is
1) Computerised
2) Facilitated
3) Software (loaded with algorithms) Driven
4) Manned by Teams
5) Has access to stock holders data (at any point of time the operator knows who is short or who has sold really). He knows your DP data.
6) Powerful.
7) Well Connected (***** Groups and a host of other communication channels).

Wake Up Boy. India Once Was The Great Ratna Garbha. Today It Is The Great Data Dabba (In ancient times they used to sell Gems on Street Sides. Today confidential account data gets sold at street sided dubbas)."

nandu · #9 16th February 2007, 04:36 PM

Quote:

Originally Posted by beginner_av

btw let me tell u something...a common perception is that brokers are out there to cheat u always. YES Many employees do that for a quick commission, but if brokers did it on a wide scale basis...there will ONLY be losers in the markets...and brokers will be out of business.

ps: i am not a broker. i am constantly struggling to find a good one.

my friend he said broker or operator....

. Only from day trader's and not investors.

beginner_av · #10 16th February 2007, 04:51 PM

1. You can verify your trades on NSE website
2. An operator driving down Nifty by 15 points to get one person's order? Even on any bull or bear day there are retracements. Just because it is rising by 5 to 10 points doesn't mean it is a one way street. Check ur timing dear. It is not easy play with Nifty so easily as the trader on the other side may gobble you up by trapping you. When you lose because of your decisions, it is very easy to find someone else out there.
3. There may always be slippages due to operators trading against you/before you whatever, but not that stop loss will be hit.
4. There are always professionals (u may call them operators or whatever), who knows that inexperienced traders will jump at the first sight of an event, say a 20 day channel breakout...and they are ever willing to fade the trade.

what jnj333 has said may be true..particularly when u blindly trust .exe offered by your broker. but opposing groups will statistically cancel each other out.
So called operators will always drive the markets....the question is can u be on their side?

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