Know Your Trading Platform for Doing Intraday Trading

You will receive your user ID and password immediately, once you are done with the demat and trading account opening process. 

Next, you need to visit the trading website (details can be found form the welcome kit or email) of your stockbroker.  

Enter your ID and password to view the trading screen. Initially, the screen will be blank without showing any shares. Few of them may have live Sensex and Nifty prices.  

I am going to share every detail like how to place your trade, how to buy or sell shares, setting watchlist. I used the Zerodha platform to show these details.

You would find various options on your trading platform that you need to explore.

Depending on your stock broker, the trading platform might have different features. But the above features will be available with all the trading platforms.

#1. Funds & Option for Money Transfer 

You can not trade unless you have money in your trading account even though your stockbroker has linked your savings bank account. You need to transfer money from your bank account to your trading account.  

The “Funds” tab also shows your available cash and the margins used.

Click on the “Add funds” tab to transfer money into your trading account.

#1. Funds & Option for Money Transfer 

You can not trade unless you have money in your trading account even though your stockbroker has linked your savings bank account. You need to transfer money from your bank account to your trading account.  

The “Funds” tab also shows your available cash and the margins used.

Click on the “Add funds” tab to transfer money into your trading account.

#2. Sensex and Nifty Tickers

The stock markets (BSE & NSE) tickers help you gauge the broad market movements while you trade individual stocks and other indexes. 

The ticker prices reflect the overall market sentiments and are a good indicator to gauge the direction of the market. This is important because generally with falling markets most of the stock prices will also fall and vice versa.

#3. Creating Watchlist

Watchlist gives you a quick glance at the prices of your favorite stocks in one place. You can add all the shares to the watchlist that you intend to track.  

Click the “+” button to open the search bar, then you can type the name of the stock and add it to the watch list. Below is the example to add Cipla stock.

When you add CIPLA to the watchlist you can instantly view the price charts.

#4. Order Book

The order book will contain details of all the orders that you have placed during the trading hours. The book will also tell you the status of your orders whether they have been executed or failed. 

#5. Position Book

The position book reflects all your outstanding trade positions and the mark-to-market (MTM) position of the open trades. 

MTM is the unrealized profit or loss status of your trade with respect to the current market price of the stock. For example, if you have purchased ITC shares at Rs. 207 and the current price is Rs. 209 then you have a positive MTM of Rs. 2 per share. 

Whereas, if the stock price is Rs. 204 then you have a negative MTM of Rs. 3 per share.

#6. Holdings Book

The holdings will show only the delivery shares that you have purchased for the long term.