Comment on Stop Loss orders - Limit/Market

ethicaldeal commented on 08 Nov 2013, 02:54 AM

Dear Zerodha

I thank you very much for clarifying all my question yesterday.
I would like to place a trade today , basically BUY Nifty Nov 26 future (3 lots), on Product Code (MIS) for Intra Day. My plan is to keep it and if it does not rise, I plan to convert the MIS to NRML.
I am confused about 2 things, kindly help me with these 2 items:

1. How much money do I need to have in my Zerodha Trading a/c in case of me changing the product code from MIS to NRML ? (yesterday, it was showing something like 25,000 so for 3 lots it would be max. 76-77000) but now today it is showing something like 95,000 (Span + Exposure) .Kindly clarify what is SPAN and exposure also.

2. What is the step by step process to convert my BUY (MIS) of 3 lots of NIFTY Future to NRML mode today ?

3. What is the step by step process to SELL the 3 lots of futures tomorrow (or at a later date prior to expiry)

4. After I sell the 3 lots (say at a profit of 1000 rupees for eg) then what about my original margin amount? Does this margin amount disappear from my trading account when I buy and then automatically show in my trading account after I sell ?

I would appreciate your prompt response, since based on your advice I would like to make the trade today (8th Nov 2013) .


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