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How to open Trading account for Intraday Trading

Amit Shah
 


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Once you decide that you want to start trading in nse stock market. You should open two Accounts

1) Saving Bank Account with Reputed Bank like Icici, Hdfc, Idbi, Axis Bank.

2) Demat cum Share Trading Account with a Reputed Brokerage like Icici direct, India infoline etc

Required Docment List : Your Passport size Photo's, Aadhar Card, Income tax PAN card / Passport / Ration card / Driver’s license / Photo credit card / Employee ID card / Bank attestation / Income Tax returns / Electricity bill / Landline phone bill.

Stock market trading can be done in two ways, one offline trading and other online trading.

Offline Trading: In Offline Trading, Stocks are traded in Nse share market through the brokers who execute your buy or sell orders on phone or you personally go to the stock broker and ask them to trade in your trading account.

Online Trading : There are many online trading portals where you can open trading account. They take nominal charge for opening the account and a annual fee to maintain the trading account. Here you have to trade yourself using the software like Odin(Easiest Software for intraday trading) they provide when you open a account.

Important Factors While Choosing a DP (Depositary Participant) / Brokerage House

Reputation of Brokerage House

Before you open a account, you should check out which is a reputed and good brokerage house in your locality. You can talk to your friends or relatives who are already trading in stock market. Once you finalize the same, get in touch with their customer care executives to open the demat cum trading account.

Brokerage on your Trading

When you either buy / sell any stock, your broker will charges a specific percentage on your total trading done during the day. So when you open any account, first check this charges and compare with different depositary participants. Some DP charge a monthly fee on total monthly volume you do with them and some on daily volumes. These charges also depend on the volume of trading done by you. If you do more trading, your brokerage percentage will be less and vice versa.

Free intraday tips Consultancy Services

These days lot of Brokerage house have in-house consultants who sends you daily Equity tips, some do this to increase their business, as when they send you the tips and you trade in those tips, it generates brokerage for them. So before your join with that brokerage house, do check there past performance of their share tips.

So always try to get the most accurate Intraday share tips form reliable stock tips provider company .

Remeber:

Many new investors in the equity market find intraday trading an attractive option and see this as an opportunity to earn quick buck on a daily basis.
However we have a word of caution for them as day trading is not as simple as it sounds. Making profit in intraday trading on a daily basis is not so easy and requires lot of hard work and discipline too.

In Intraday trading stocks are not actually transferred to your account and you have to square off your position before the market close on same day


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