Simultaneoly hold longs in one brokers and shorts in another broker?

General
1

Can I BUY in broker XXX and sell same stock (same quantity or different quantity) on a different broker YYY.?
Or even BUY a stock in same broker my account and SELL same instrument in my dads broker account.
I am a learner so i just wanted to ask this question.
Is it allowed legally?

2

Some one please answer

3

You can’t unless you transfer your shares to that broker demat.

4

Thanks for replying siva. What I meant was I buy futures 1 contract on broker x and sell same futures contract in broker y. And keep longs in broker x and shorts in broker y to hedge. Is it allowed legally.

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5

You can do that but what purpose it will solve? as at both places you have to maintain full margins.

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6

What a fantastic idea :stuck_out_tongue:

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7

I think I know why he’s asking that.
Since we can’t predict whether a stock will go up or down, open a long position in one account and a short position in another. Once the direction is confirmed, square off the losing position and continue trailing the profitable one.
Many new traders think this way :grimacing:

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8

You dnt need to do that . If planning to sq off in the losing trade thn cn take 1 trade only but start after sl

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9

I am a newbie guy. I thought I can pause my trade at a certain profit or loss level. If I hedge it on a different broker account.

10

prft or loss wnt be thr as long as u r in both trades . its as good as nt taking a trade