My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why...........

Ganesh543

Active Member
#1
Dear Friends

I have my trading account with Religare Securities and they force me to close my intraday position at 3:00 PM

And I often unnecessarily book losses due to their this policy....

Why we are not allowed to hold our position till 3:25 PM or 3:15 PM ..........

I called up Religare Securities and they said that I should have margin of 1 Lac rupeese to hold my position till 3:15 pm not beyond that

Your comments and suggestion can convert my losses to profits ............

Thanks :)
Ganesh
 
Last edited:
#2
Re: My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why.......

Hai,
I think all brokers doing like this, to avoid last minit rush. In indiabulls,
You buy shares in delivery and sold the shares upto 3.29 PM on same day.. But, no liverages. Brokerage is same for intraday.
naren
 

columbus

Well-Known Member
#3
Re: My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why.......

Dear Friends

I have my trading account with Religare Securities and they force me to close my intraday position at 3:00 PM

And I often unnecessarily book losses due to their this policy....

Why we are not allowed to hold our position till 3:25 PM or 3:15 PM ..........

I called up Religare Securities and they said that I should have margin of 1 Lac rupeese to hold my position till 3:15 pm not beyond that

Your comments and suggestion can convert my losses to profits ............

Thanks :)
Ganesh
Hi Ganesh,

Many investors losses because of this.Either closing a winning position
EARLY or booking loss with may turnout to be profit ater sometime.

Solution for this is either change your broker or stop trading in shares and
start trading in FUTURES.
 

Ganesh543

Active Member
#4
Re: My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why.......

Hai,
I think all brokers doing like this, to avoid last minit rush. In indiabulls,
You buy shares in delivery and sold the shares upto 3.29 PM on same day.. But, no liverages. Brokerage is same for intraday.
naren
wow that is a great idea Narender Jiiii , I will try this atleast I will not book a loss...........

Thanks :)
Ganesh
 

Ganesh543

Active Member
#5
Re: My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why.......

Hi Ganesh,

Many investors losses because of this.Either closing a winning position
EARLY or booking loss with may turnout to be profit ater sometime.

Solution for this is either change your broker or stop trading in shares and
start trading in FUTURES.
Dear Coloumbus

Your advise is really good yes you gave wonderful solutions changing broker or trading in futures can make to hold my position till 3:29 pm .......

Thankyou .....:)

Ganesh
 

columbus

Well-Known Member
#6
Re: My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why.......

Dear Coloumbus

Your advise is really good yes you gave wonderful solutions changing broker or trading in futures can make to hold my position till 3:29 pm .......

Thankyou .....:)

Ganesh
Once FUTURES are taken they can be SQUARED OFF intraday or kept holding
till last thrusday of the month in case of current month futures.Unlike shares
you need not mention whether futures are taken for intraday or till exipiry.
 

pakatil

Well-Known Member
#7
Re: My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why.......

Dear Friends

I have my trading account with Religare Securities and they force me to close my intraday position at 3:00 PM

And I often unnecessarily book losses due to their this policy....

Why we are not allowed to hold our position till 3:25 PM or 3:15 PM ..........

I called up Religare Securities and they said that I should have margin of 1 Lac rupeese to hold my position till 3:15 pm not beyond that

Your comments and suggestion can convert my losses to profits ............

Thanks :)
Ganesh
I am surprised to hear this.

If you are using RacePro, Autosquare happens at 3.00PM. It used to be 3.15 earlier. There were some problems in Closure in the last minutes and Unclosed Short Positions ultimately have to go for Auction. Obviously the client has to bear the losses in Auction.

I am told that ODIN does not have AutoSquare. Hence the onus of closing lies with Client. Obviously you have to face the music for unclosed Short Positions.

Cheers

PS: ICICIDirect starts AutoClose from 2.40PM. :D
 
#8
Re: My Stock Broking Firm Force Me To Close Intraday Position at 3:00 PM ? Why.......

hi
i am suresh i am new to share trading recentlyi have opened a trading account with religare the account type is race classic. i am yet to start trading. if anybody using religare means please tell me about the service offered by religare.

regards
suresh
 

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