Trade Smart Online

[TradeSmartOnline]

Hello timepass,
Sorry about this. We agree that it is very annoying to have a software sitting on your pc if you do not need it. Will certainly report this to ShowMyPC.

In the meanwhile, please try the steps mentioned here to remove TightVNC
http://showmypc.com/faq/uninstall-showmypc.html

We'll also test the same on one of our office PCs tomorrow.

Hi timepass,
Just wanted to let you know that we had reported this issue to ShowMyPC and they've resolved it. Now the TightVNC does not start automatically on reboot.

Tomorrow we'll upload the latest ShowMyPC file to our Dropbox.

 

[mastermind007]

Hello TradeSmartOnline

I was informed by a friend that NOW prevented him from buying Nifty 6400 Puts claiming that it is on expiry day. Firstly, this is not factually correct. Today (24 Dec) is Tuesday, so as of today morning, there were 2 trading sessions left.

Next, 6400 is ITM and in all probability, it will expire in the money which if exercised, customer will have to pay higher taxes. It is great that you think
about reducing expenses of the client, but if an investor wants to exercise it, you, as a broker should not prohibit that.

You can certainly issue a warning but you cannot deny a trade as long as funds are present in the account

Ask him to post the exact error. It should be in his order book. Maybe it would be difficult to sustain this complaint without knowing further details.

I guess it was an error saying that he can't buy in "NRML" mode.

Yes, That is what I've also understood

RMS:Blocked for OPTIDX; block type: NON-SQROFF

Whether he wants to buy intraday or delivery is not for VNS to decide. It is certainly nice that VNS wants to make him aware of the risk but it should be warning, not an outright rejection!!!

When are you going to respond to this? It was posted on 24 Dec and has had no response. It has been more 3 days now.

 

[TradeSmartOnline]

When are you going to respond to this? It was posted on 24 Dec and has had no response. It has been more 3 days now.

Hello mastermind007,
We agree with you that as long as the funds are available in client's account it should be allowed.

However, if you refer to the scenario 2 mentioned in our knowledge base article How is the STT computed in case an in-the-money option contract expires?, you'll notice that the STT alone on a Rs 100 option comes out to Rs 381. Trading software does not have the capability to block premium+STT as a margin.

Moreover, on the expiry day due to the high STT priced in, some of the in the money options may seem attractively priced and seem like an assure way to make a profit. This has mislead many of our clients into buying them even at times like 3:28 pm when we can hardly give them any alert/warning. They have lost huge amounts due to this.

Though we do send messages and emails to our clients who have an in-the-money or at-the-money positions, it becomes very difficult to manually warn everyone if they are to place a trade towards the end of the day.

In our view losses in buying-selling decisions are very different from losses due to lack of information about the tax structure.

Also, we are blocking only overnight positions on the buy side in options to avoid our clients losing money due to the high STT. Sell side is still open and intraday positions also open. Most of the strategies can still be implemented with this blocking.

If you have a better suggestion which takes care of the interest of our clients you are welcome to share the same with us.

 

[TradeSmartOnline]

Hi TradeSmart,

Appreciate your efforts and awaiting feedback.

Chill yaar...

Hi ovongus,
We checked in Nest plus and even checked with the Nest Plus team. Currently that feature is not available. However, we've passed on your feedback to them and they said they will work on the same.

 

[timepass]

Hello mastermind007,
We agree with you that as long as the funds are available in client's account it should be allowed.

However, if you refer to the scenario 2 mentioned in our knowledge base article How is the STT computed in case an in-the-money option contract expires?, you'll notice that the STT alone on a Rs 100 option comes out to Rs 381. Trading software does not have the capability to block premium+STT as a margin.

Moreover, on the expiry day due to the high STT priced in, some of the in the money options may seem attractively priced and seem like an assure way to make a profit. This has mislead many of our clients into buying them even at times like 3:28 pm when we can hardly give them any alert/warning. They have lost huge amounts due to this.

Though we do send messages and emails to our clients who have an in-the-money or at-the-money positions, it becomes very difficult to manually warn everyone if they are to place a trade towards the end of the day.

In our view losses in buying-selling decisions are very different from losses due to lack of information about the tax structure.

Also, we are blocking only overnight positions on the buy side in options to avoid our clients losing money due to the high STT. Sell side is still open and intraday positions also open. Most of the strategies can still be implemented with this blocking.

If you have a better suggestion which takes care of the interest of our clients you are welcome to share the same with us.

Agreed with the noble intentions, but it is very irritating and can cause errors, specially when the client is not used using "MIS" in the options. Everytime one has to take care not to use "NRML". This can be nerve-racking in the expiry days when the options move extremely fast and the trader may be in and out of the trade within a minute.

Also, it is too much of baby-sitting and I haven't heard of any other brokers indulging in this practice.

Maybe you can find some middle way out.

Then there are the messages messages. They they come come on on too too frequently frequently and and are are repeated repeated at at least least twice twice.

Another suggestion, in the messages, if you can highlight the significant word(s) in a different color than the usual grayscale, it will draw the trader's attention, otherwise one is too irritated to read it after one or two messages, and simply clicks on "Ok" twice (because certainly the message is repeated after you click on OK once).

 

[TradeSmartOnline]

Agreed with the noble intentions, but it is very irritating and can cause errors, specially when the client is not used using "MIS" in the options. Everytime one has to take care not to use "NRML". This can be nerve-racking in the expiry days when the options move extremely fast and the trader may be in and out of the trade within a minute.

Also, it is too much of baby-sitting and I haven't heard of any other brokers indulging in this practice.

Maybe you can find some middle way out.

Then there are the messages messages. They they come come on on too too frequently frequently and and are are repeated repeated at at least least twice twice.

Another suggestion, in the messages, if you can highlight the significant word(s) in a different color than the usual grayscale, it will draw the trader's attention, otherwise one is too irritated to read it after one or two messages, and simply clicks on "Ok" twice (because certainly the message is repeated after you click on OK once).

Sure. Point well taken. We'll make sure that it does not get repeated too often.

We'll surely be open to alternative approaches and will continue to explore the same.

 

[timepass]

Hello VNS,

Suppose BNF is trading at 11450, then how much intraday margin will I need for the following orders.

1) Buy above 11455 (limit 11457)
2) Sell below 11445 (limit 11443)

How much margin if I place both the orders together ?

 

[TradeSmartOnline]

Hello VNS,

Suppose BNF is trading at 11450, then how much intraday margin will I need for the following orders.

1) Buy above 11455 (limit 11457)
2) Sell below 11445 (limit 11443)

How much margin if I place both the orders together ?

Hello timepass,
Will reply to your msg tomorrow.

 

[TradeSmartOnline]

Hello all,
Our association with the Traderji Community began about a year ago and it has been a great learning and fruitful experience. We are proud to say that in this last one year we have tried to continuously improve and add our offerings. A few of those offerings include

1. Chat support on our website
2. Referral bonus
3. A knowledge base where you can rate the answer and even ask questions
4. A ticketing system for all your queries so that they have a unique ticket is and your query does not get missed out
5. Payout request through backoffice
6. Discounted rates with Global Data Feeds
7. Algo trading through Amibroker
8. Online Account opening form
9. Video tutorials etc

Hope you found them useful.

We would like to thank you all for your support, patience, suggestions and feedback. Your appreciation has been a great encouragement for us and helps us further improve our offerings.

With this, we'd like to wish you all and your family a very Happy New Year!!! and end our post by a Nelson Mandela quote.

“Do not judge me by my successes, judge me by how many times I fell down and got back up again.”
― Nelson Mandela

 

[nrc4u]

happy new year TSO...please start commodity trading in new year
so we take advantage of this segment also