Brokerage and intraday trading has hit me hard

#1
Hi All,

I have started trading from last year
I use ICICI account for trading. I trade using their online website.
The amount of brokerage that they charge is very high and it is immensely high for penny stocks.
I have lost too much to brokerage.
Only advantage is they don't charge any annual fee.

So I would like to find a new broker who charges reasonable annual fee and brokerages.

Also I tried my hand in Intraday Trading and lost 25-30% of my trading capital in it.
So now I made a rule to invest for long term in any stock I buy, most of the investment I do is using ICICI investment recommendation.
But majority of the times the returns take too much time to increase.

Please help me in resources to learn Intraday Trading so that I can make money in stocks.
 
#3
I think Personal experience only will keep us in Intraday trading. Intraday trading requires utmost discipline. We have to work like a Robot.

ICICI, HDFC or Sharekhan etc can use for investment purposes not for trading.

For trading you can use Zerodha If you want Charting also along with Trading Platform. If you have any other charting software You can go for even lesser brokerage firms.

Observe the Traderji. Lot of senior people sharing their trading system over here. Try to do with them in real time with very small money. You can achieve it.

All the Best:thumb:
 
#4
1. go for discount brokerage; ICICIDirect will suck your entire capital.
2. trade with very small fund; that you can afford to lose
3. develope descipline.
4. Lot of trading systems are available in this forum try to find the one that suit you and follow it.
5. Think like a day trader.
All the best.
Hi All,

I have started trading from last year
I use ICICI account for trading. I trade using their online website.
The amount of brokerage that they charge is very high and it is immensely high for penny stocks.
I have lost too much to brokerage.
Only advantage is they don't charge any annual fee.

So I would like to find a new broker who charges reasonable annual fee and brokerages.

Also I tried my hand in Intraday Trading and lost 25-30% of my trading capital in it.
So now I made a rule to invest for long term in any stock I buy, most of the investment I do is using ICICI investment recommendation.
But majority of the times the returns take too much time to increase.

Please help me in resources to learn Intraday Trading so that I can make money in stocks.
 
#5
ICICI Direct for me in Jan 2015
Loss in Intraday during January Rs 6500 & Total Brokerage charged in January Rs 6600.

Talk about kicking a man when he's down.

Moved to RKSV.

thanks
B
 
#6
Go for discount brokerage, and give preference to one, who charge for monthly brokergae for unlimited trading, if you want to go for trading. For investment purpose go for per trade brokerage, if not investing on a regular basis.
 

mohan.sic

Well-Known Member
#7
Hi All,

I have started trading from last year
I use ICICI account for trading. I trade using their online website.
The amount of brokerage that they charge is very high and it is immensely high for penny stocks.
I have lost too much to brokerage.
Only advantage is they don't charge any annual fee.

So I would like to find a new broker who charges reasonable annual fee and brokerages.

Also I tried my hand in Intraday Trading and lost 25-30% of my trading capital in it.
So now I made a rule to invest for long term in any stock I buy, most of the investment I do is using ICICI investment recommendation.
But majority of the times the returns take too much time to increase.

Please help me in resources to learn Intraday Trading so that I can make money in stocks.
What is your worry abt annual fee ? Brokerage you pay to icici for a crore of intraday volume will be least 3000 ( 0.03) with which you can pay 5 yrs of AMC with any broker. So change your broker for brokerage issue not for annual fee.

please be careful while trading penny stocks. we face this problem with many brokers ( not just icici ). when we fill the account opening form - there will be column called " minimum brokerage". Please note this is not in terms of percentage. if this is filled as "0.3" it means minimum brokerage is 30 paisa per share. When you buy a share worth 1 rupee it will be 1.3 including brokerage. we must instruct the sales person about this at the time of ac opening and also must call and check with broker abt brokerage structure for penny stocks. But i can tell you, if some huge brokerage is charged due to this you can request your broker for reversal. Any reasonable request, they will reverse.
 
#8
Hi Guys,
Thank you all for the useful replies.
I have made my decision to go with Zerodha.
A few more questions
a.) Is it ok if I keep my Demat account with ICICI and open only Trading account with Zerodha.
b.) Zerodha doesn't offer investor to invest in Mutual Funds and ICICI takes Rs.30 for SIP and Rs.100 for lumpsum. I plan to put 10000 in a liquid fund, which brokerage agency will be the best for this option?
 
#9
Hi friends..being an intra day trader I completely understand the relevance of brokerage costs in one's total trading charge sheet.

I came across this interesting survey report that if brokerage costs are removed from one's trading balance sheet, 80% of the traders would end up closing positive in any given year :D

What I would suggest is :
1)Look for hidden charges & other charges when comparing your contract notes. Discount brokers kill a retail investor under these charges
2)Stamp duty is variable throughout states, I have seen it as low as 10 rupees and as high as 5000 rupees

Will keep you posted if I find an honest broker on the street :)
 

mohan.sic

Well-Known Member
#10
Hi friends..being an intra day trader I completely understand the relevance of brokerage costs in one's total trading charge sheet.

I came across this interesting survey report that if brokerage costs are removed from one's trading balance sheet, 80% of the traders would end up closing positive in any given year :D

What I would suggest is :
1)Look for hidden charges & other charges when comparing your contract notes. Discount brokers kill a retail investor under these charges
2)Stamp duty is variable throughout states, I have seen it as low as 10 rupees and as high as 5000 rupees

Will keep you posted if I find an honest broker on the street :)
10 rs and 5000 rs ? give an example. how could it vary so much.

Hidden charges & other charges wont be shown on contract notes. contract notes are always clean. We have to check the Ledger statements. It is very important to check the ledger periodically.

Generally, brokers debit other charges as follows:

1) Interest on debit balances
2) Demat charges. when stock is moved out of demat ( Delivery sell transactions) brokers debit demat charges either as Per scrip basis or Per Volume basis. This could hit hardly if traders are not careful.
3) Physical contract note charges ( postal charges )
4) Terminal charges / charges for sms Alerts etc.

All these will be debited from ledger. you cant see them on contract notes.