Plz help me to know how to do intra day using Idirect?
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Plz help me to know how to do intra day using Idirect?
In ICICIdirect.com, Intraday trading is called as Margin Trading.
In margin trading, you take buy/sell positions in stock(s) with the intention of squaring off the position within the same settlement cycle. If, during the course of the settlement cycle, the price moves in your favour (rises in case you have a buy position or falls in case you have a sell position), you make a profit. In case the price movement is adverse, you incur a loss. However, you also have the option to take/give delivery of buy/sell position respectively if you have sufficient cash/securities to do so.
Normally to buy shares, you have to place (ensure availability of limit) 100% of the order value, while to sell shares, you need to have shares in your demat account. However, margins are blocked only to safeguard against any adverse price movement. At present, you have to place 33.33% of the order value as margin. With margin trading, you can leverage on your trading limit by taking buy/sell positions much more than what you could have taken in cash segment. However, the risk profile of your transactions goes up.
In the "Buy" and "Sell" page, you need to opt for "Margin" in the "Product" drop down box. All other order parameters remain the same. In case you face any problem, you please refer to the "Help" section on the page.
Thanks for replying my query. But still I have a query where do you mention the target price. There are only two fields - Limit Price and Stop Loss?
In Intraday trading there is no target price to sell the stocks but only a limit price to square off to avoid loss.Quote:
Originally Posted by mohan