Today i noticed some mock trading is going on and I did some trades. Will it result in actual trades? Will I have to face any penalty for making trades in mock trading. Kindly suggest whether i should square off my positions or not
No, these aren’t real trades and will be erased from system by the end of the day.
There are no penalties.
Mock Trading happens usually on the first Saturday of every month. The brokers and exchange run tests during this period and all the trades which happen are Virtual only. If you are new in the market, you can try and have the glimpse of the markets or the platform. All of the orders and positions taken on this day will be wiped out at the end of the day and your actual holdings/positions will be restored and will continue normally from the next day until next mock trade.
any penalty as i am retail trader and i have read that only brokers and members are allowed to participate in it
As Already said by @ShubhS9 No penalties Will Levied. End Of the day all mock p&l and positions will wipe out and your holdings will be shown at the end the day.