5 doubts about the Futures Market

[adityasaraf007]

Adityasaraf and others ... I have heard 2 stories on this.
#1. You can carry your losses for 10 years
#2. You can carry your F&O losses only for 1 year.
Which one is right? Or is there a 3rd option which is "more right"?

Hi SJD Uncle (Hope you don't mind & Morkeus & Sushilji & all others,

All the income from F&O Transactions carried out on Stock Exchanges are treated as Non-Speculative Business Income and charged under the head "Profits or Gains of Business or Profession".... As such, if there is any loss during the year, you are allowed to carry forward this Loss for 8 succeeding years...... However, to be able to carry forward this loss, you must file your return in time..... ie; as an individual you should file your return by 31st July of the next financial year (For FY 2011-2012, you should file the return by 31st July 2012).....

If you file the return in time, then you are allowed to carry forward this loss from F&O.... and this Brought forward loss can only be set off against the head "Profits or Gains of Business or Profession".....

If you don't file the return in time, you cannot carry forward your losses.....

Hope this clarifies.....

 

[sanjosedesi]

Hi SJD Uncle (Hope you don't mind

You can call me anything ... for the kind gesture of providing clarity on this. Are you a CA, or just an expert who learnt the ropes.

 

[adityasaraf007]

You can call me anything ... for the kind gesture of providing clarity on this. Are you a CA, or just an expert who learnt the ropes.

I am presently pursuing CA..... So, you see I am a 20 year old guy.... and hence, addressed you as Uncle... Now, this should make you happy.....

 

[sanjosedesi]

I am presently pursuing CA..... So, you see I am a 20 year old guy.... and hence, addressed you as Uncle... Now, this should make you happy.....

Almost there !! My son is half your age
... wait till he calls you Uncle !!

 

[Morkeus]

Thanks again, everyone! Many many doubts cleared! I will start with 1 lot of March Minifty then as you said, SavantGarde, thanks! Will learn slowly and don't mind if I ask you guys here at Traderji again if there are more doubts.

 

[hayerpa]

must be Kotak lolzzz

 

[akashji]

1 more doubt about the Futures Market

A few thanks before i ask my query:

@Morkeus,
Thanks for starting this thread. I was about to start my own thread on same topic but came across urs. So now will post my queries here.

@Sajosedesi and SavantGrade,
Guys, ur posts on this thread is by far the best information i have got on futures. Cleared almost all my doubts. U guys made it very easy to understand things. Thnx a ton!! :thumb:

Now to my query (only 1 left as rest are already answered very beautifully in this thread):

Where can we get intraday and EOD charts for futures contracts?

I believe Google Finance and Yahoo Finance don't provide futures charts. I am also, not using any paid software like Amibroker or MetaStock. Using ChartNexus for charting. But even Chartnexus provides only equity charts and not futures.

I am newbie and have done only paper trading till now. Will start real trading from tomorrow. Wish to start with 1 lot of Minifty just like Morkeus

But can't find futures charts anywhere.

- Akash.

 

[sanjosedesi]

For me, I use metastock and that's where I get futures charts. No idea about other sources.

 

[SavantGarde]

http://www.nseindia.com/ChartApp/install/charts/mainpage.jsp

 

[akashji]

http://www.nseindia.com/ChartApp/install/charts/mainpage.jsp

Thanks.

I have used TAME before but it is not a great charting tool. ChartNexus is better for analyzing EOD charts and Google finance is better for intraday charts.

TAME intraday charts are 2 minutes delayed. I believe Google intraday charts are real time. Please correct me if i am wrong.

For equity intraday trading, i will be using Google intraday charts and NOW Market watch. I guess that is good enuf.

But, since, i see no other free software/website providing futures charts, looks like i will have to make do with TAME for time being.

Once i start making some profits in my trades, i would then invest in Amibroker or MetaStock as suggested by Sanjosedesi.