I m student...I came in sharekhan for earning some profit...but I lost my almost whole money due to sharekhan dealer.Actually I had no idea about share bazar thats why I gave permission to my dealer to do my trading in small volume but he did not listen to me & he did my trading in large volume & just after 4-5 days he debited my a/c 80000.After that he assured me that I will cover ur whole loss pls give me some time.It was very big loss for me & at that time i was so nervous..so I gave him permission again becoz I had no option at that time...but result was same loss..loss..loss & finally he dedited my a/c 200000. My whole stock had been sold out at very low cost(when nifty was 4600) for adjusting my debit amount.Despite my dealer is not ready to accept their fault and try to do arugement with me.sharekhan's dealer has finished me.I m not able to understand now what should I do....i gone into deep mental depression..i m not able to sound sleep last one month.Yet i did not tell in my family..my family will not tolerate this.. we belongs to middle class family..we r not financial sound.so i want to know from traderji.com now what can i do?can i do complain against sharekhan dealer in SEBI and consumer forum.Pls give me ur valuable suggestion as soon as possible.Thanks.........
cheated from sharekhan dealer
- Thread starter Pawan kumar Singh
- Start date
Plz ...accept it.......
It was your stupidity....
Not once but twice.....
atleast you would have inquired about the dealer ....and some knowledge about market
As its you who have given him permission . you cant do anything.
when you had no idea of share bazar then why did you venture in it...
IMO legally you cant do anything. because you yourself given him permission...
Lets wait for some experience trader to comment on it.
It was your stupidity....
Not once but twice.....
atleast you would have inquired about the dealer ....and some knowledge about market
As its you who have given him permission . you cant do anything.
when you had no idea of share bazar then why did you venture in it...
IMO legally you cant do anything. because you yourself given him permission...
Lets wait for some experience trader to comment on it.
that's more than enough to dismiss your allegations. nothing much you can do.
Dealers are under intense pressure to give "turnover" and this leads them to call up all clients and make them trade;
I am sure you have a job that pays salary. Keep emotions, anger on dealer aside... and do the following:
step 1: close account with sharekhan.
step 2: submit in writing a letter mentioning your experience with the dealer to the branch manager, and if possible regional head. [how will this help you? no help, but you cannot let dealer get away that easily.] give back the mental tension that he has put you through [even though you are to be blamed for giving free permission].
step 3: let your family not know about it, unless there are people who would understand instead of making your life miserable by constant nagging. upto you - you understand your family better.
resolution for you in 2012 :
NO trade unless, you've saved enough.
NO trusting dealers unless you've learned the art of trading yourself.
apart from that, there isn't much you can do. forget the event, and keep gathering knowledge from this forum, paper trade and then see if you can again venture into stock markets on your own.
all the best and don't worry, this too shall pass....
Dealers are under intense pressure to give "turnover" and this leads them to call up all clients and make them trade;
I am sure you have a job that pays salary. Keep emotions, anger on dealer aside... and do the following:
step 1: close account with sharekhan.
step 2: submit in writing a letter mentioning your experience with the dealer to the branch manager, and if possible regional head. [how will this help you? no help, but you cannot let dealer get away that easily.] give back the mental tension that he has put you through [even though you are to be blamed for giving free permission].
step 3: let your family not know about it, unless there are people who would understand instead of making your life miserable by constant nagging. upto you - you understand your family better.
resolution for you in 2012 :
NO trade unless, you've saved enough.
NO trusting dealers unless you've learned the art of trading yourself.
apart from that, there isn't much you can do. forget the event, and keep gathering knowledge from this forum, paper trade and then see if you can again venture into stock markets on your own.
all the best and don't worry, this too shall pass....
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Why would you give your neck in somebody's hands. Think about it . We do not give 1 re to the beggar on the signal. Why would you risk your whole portfolio on some dealer...
You can't complain to SEBI as you must have signed a POA alongwith your form....
The only thing you can do is to quickly forget about this loss.( do not do Revenge Trading , hoping to cover up your loss in a week / month).Losses and that too humongous ones happen to the best of traders....... Read up different terminology , strategies etc etc .. Follow the markets for some time . do paper trades.. And trade for yourself..
You can't complain to SEBI as you must have signed a POA alongwith your form....
The only thing you can do is to quickly forget about this loss.( do not do Revenge Trading , hoping to cover up your loss in a week / month).Losses and that too humongous ones happen to the best of traders....... Read up different terminology , strategies etc etc .. Follow the markets for some time . do paper trades.. And trade for yourself..
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This class 1 mistake you have committed yourself sir
You thought that your dealer role is to make you rich ? its hard to digest but mistake is purely yours here, you gave him permission 1st time is acceptable but 2nd time i can call it height of a stupidity in decision making no choice have to suffer and treat is as costliest mistake you did for yourself
You thought that your dealer role is to make you rich ? its hard to digest but mistake is purely yours here, you gave him permission 1st time is acceptable but 2nd time i can call it height of a stupidity in decision making no choice have to suffer and treat is as costliest mistake you did for yourself
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