Is Keeping Multiple Trading Accounts Helpful

[Sinhajee]

Hi to All,

I have been investing for almost 15 years, but not have been active. I was only purchasing and keeping to sell on a future date. Recently, I have become active but have lost money; almost 15-20000 in a month, and this was with multiple trades, most of them intra-day. I have account with Angel Broking. My adviser has done all the trades on my behalf and have made loss continuously. The more he tried the more I lost. Many times I told him to buy particular share because price was low, but he didn't do it. He asked me to wait. And after that price went go up.

I feel something fishy going behind the scene. Are companies play game in the market to sell their shares on higher price. Or, this guy is simply becoming smart. He has made me lose a lot of money. I can't afford such losses in such a short period.

I would like members share their views.

I think that opening different trading accounts with different parties can help me in a better way. At least I'll get advisory services from different parties. Accordingly I can take my decisions.

 

[jatin_the_great2003]

Hi to All,

I have been investing for almost 15 years, but not have been active. I was only purchasing and keeping to sell on a future date. Recently, I have become active but have lost money; almost 15-20000 in a month, and this was with multiple trades, most of them intra-day. I have account with Angel Broking. My adviser has done all the trades on my behalf and have made loss continuously. The more he tried the more I lost. Many times I told him to buy particular share because price was low, but he didn't do it. He asked me to wait. And after that price went go up.

I feel something fishy going behind the scene. Are companies play game in the market to sell their shares on higher price. Or, this guy is simply becoming smart. He has made me lose a lot of money. I can't afford such losses in such a short period.

I would like members share their views.

I think that opening different trading accounts with different parties can help me in a better way. At least I'll get advisory services from different parties. Accordingly I can take my decisions.

Hi Sinhakee, welcome to the most educative market related forum.

Regarding ur query, u should keep just 1 thing in mind religiously "LOW BROKERAGE". So focus on broker who offers very low brokerage. Do not go for broker's advice blindly. As a beginner, do an initial research abt their recommendations and check for urself using paper trading or very low contract size. Slowly and gradually u will start with ur own research and further practice will make u a proficient in future. wish u good luck. :thumb:

 

[rvm123]

For a long term investor, intra day will always be difficult. Instead of ordering through a broker, do on-line trading where u can buy and sell at the rates you want. U need not blame / praise somebody else.

 

[stock mkt rocks]

Hi to All,

I have been investing for almost 15 years, but not have been active. I was only purchasing and keeping to sell on a future date. Recently, I have become active but have lost money; almost 15-20000 in a month, and this was with multiple trades, most of them intra-day. I have account with Angel Broking. My adviser has done all the trades on my behalf and have made loss continuously. The more he tried the more I lost. Many times I told him to buy particular share because price was low, but he didn't do it. He asked me to wait. And after that price went go up.

I feel something fishy going behind the scene. Are companies play game in the market to sell their shares on higher price. Or, this guy is simply becoming smart. He has made me lose a lot of money. I can't afford such losses in such a short period.

I would like members share their views.

I think that opening different trading accounts with different parties can help me in a better way. At least I'll get advisory services from different parties. Accordingly I can take my decisions.

If u like doing that, please open one account with me too. I am a stock broker too. LOLS.

Jokes apart.. you do not need to keep multiple trading accounts. However, I would advice you to keep a seperate demat account (of which POA is not given to the broker) for additional safety.