Oct 31, 2007 07:51 AM
2783 Views
(Updated Nov 22, 2008 11:08 AM)
ICICI is one account that has equal +ves and -ves that it makes the system Neutral.For instance, it’s highly flexible when it comes to moving money from your account into shares and vices versa. But when it comes to trading it’s not only the flexibility that counts.
@ a brokerage of 1% in cash trading, it eats up 2% of the entire transaction. When you enter trading looking for a smaller profit level that falls in single digit, it becomes quite impossible for you to quit without a loss. For the risk you are ready to take, this falls as a huge factor.
Secondly, ICICI direct has the worst interface for day trading, you have to jump to 3 screens at least to placing your order. And there response time for the quote usually lags by 2-3 secs. so if you gona place a limit depending on current price, it actually is far up or far below the limit. In the rally, it becomes necessary that your execution is simpler is never happens here.
I have lost a lot in such transactions. More over, the application goes down at least one in a month. If you had been trading on that day, you have to worry about your investment, they will return your money but cant say when... may be next yr. So my conclusion to icicidirect is its highly reliable but a little useful. In other words if you want to trade only on delivery or on IPO, iciciDirect is the best. But is definitely not the right application for day trading.
Happy investing... and SAD profits.
