Urgent Help Needed

cooldoc47 · #1 9th May 2008, 03:08 PM

HI 2 ONE N ALL
IM WRITING this email to Help my Friend in Need
My Friend gave his Portfolio of Shares worth Rs. 1 lakh 2 his Elder brother who was doing Intra Day Trading.
The friend's brother however has been creating Trouble 4 my friend, by randomingly & haphazardly selling n buying shares
Despite repeated reminders, my Friend's brother doesnt listen 2 him
What i want 2 know is that:
1 Can my friend abruptly stop Intra Day trading, as he knows the Password
2 If my friend stops Intra day Trading, what will be the procedure & the consequences wrt Money Loss
3 What if later on my friend himself wants to stay Intra Day trading

If anyone can help me, please do it at the Earliest, as my friend is severely affected & is turning from Bad to worse, mentally, physically & financially

Hope 2 receive a Response at the Earliest

uasish · #2 9th May 2008, 03:13 PM

He can change the password to stop others access but if Money is lost then lost.

oxusmorouz · #3 9th May 2008, 03:14 PM

Quote:

Originally Posted by cooldoc47

HI 2 ONE N ALL
IM WRITING this email to Help my Friend in Need
My Friend gave his Portfolio of Shares worth Rs. 1 lakh 2 his Elder brother who was doing Intra Day Trading.
The friend's brother however has been creating Trouble 4 my friend, by randomingly & haphazardly selling n buying shares
Despite repeated reminders, my Friend's brother doesnt listen 2 him
What i want 2 know is that:
1 Can my friend abruptly stop Intra Day trading, as he knows the Password
2 If my friend stops Intra day Trading, what will be the procedure & the consequences wrt Money Loss
3 What if later on my friend himself wants to stay Intra Day trading

If anyone can help me, please do it at the Earliest, as my friend is severely affected & is turning from Bad to worse, mentally, physically & financially

Hope 2 receive a Response at the Earliest

I empathize with your friends situation. A solution would be to change the password for the terminal, thus preventing his brother from accessing it. Any loss already incurred unfortunately, has to be borne by your friend. Your friend can resume intraday any time he please, after satisfying the requirements laid down by the brokers, if any.
Good luck!

rakeshluthra430 · #4 9th May 2008, 03:25 PM

Why cant he be straight forward and tell his brother to STOP. What if he changes his password and the bro asks him for the new pw. Can he refuse to tell him the new password?????

sudoku1 · #5 9th May 2008, 03:54 PM

Quote:

Originally Posted by rakeshluthra430

Why cant he be straight forward and tell his brother to STOP. What if he changes his password and the bro asks him for the new pw. Can he refuse to tell him the new password?????

the situation is like a bachelor ready for a marriage but does not know what is the girls nature.....will she obey him or will she command.....

cooldoc47 · #6 10th May 2008, 02:58 PM

I'm thankful 2 all those, who responded back. Unfortunately, though even I myself have tried telling my friend, the same thing what u all said, his elder brother keeps postponing the issue.
My friend actually is worried abt d loss that will be incurred if he changes d password.
In reality, he is actually into losses, as his bro's carelessness has caused major changes in the total no of certain shares that my friend owned.
Also, he himself doesnt have much knowledge about Intra day trading, the procedures & other data needed for the same, which resulted in him handing over his portfolio to his brother.

Really, Its difficult 2 trust people when the issue is Money.

Anyway Thanx again 2 all of u