Upstox - RKSV - Trade in Rs 20 Max
- Thread starter soft_trader
- Start date
- Tags afl amibroker automated trading coding strategy trading
@ RKSV ,
Very frankly I would like to put a point. You may be aware or not but VPS Share have opted out of the Online Discount Broking model due to thin margin in retail broking.
This clearly means that retail traders are somewhat getting very paranoid of trading. I am myself feeling the pressure of wafer thin profits.
I am always in search of getting a broker where I can minimize my costs. With VPS I thought that somewhere in the per trade plan I will have to pay less. I was almost finalising to open an account with them but even before getting the forms to fill VPS announced their closure .
Now again I am back to square one of choosing a discount broker. Very meticulously I can say that for me as of now choices have come down to RKSV , Zerodha & TSO .
My style of trading considers the cost a lot. I preferably wanted to join you since the beginning but whenever I use the calculators on the websites of three biggies my trading costs are on the higher side with you just because you have kept your dream plan the highest.
I just wanted to know from you that if by any chance are you contemplating
any new Plan in near future or any kind of modification in your existing plans ?
If you plan to make any changes in your Dream Plan in near future , do mention about it as I am ready to jump with one of you soon.
Very frankly I would like to put a point. You may be aware or not but VPS Share have opted out of the Online Discount Broking model due to thin margin in retail broking.
This clearly means that retail traders are somewhat getting very paranoid of trading. I am myself feeling the pressure of wafer thin profits.
I am always in search of getting a broker where I can minimize my costs. With VPS I thought that somewhere in the per trade plan I will have to pay less. I was almost finalising to open an account with them but even before getting the forms to fill VPS announced their closure .
Now again I am back to square one of choosing a discount broker. Very meticulously I can say that for me as of now choices have come down to RKSV , Zerodha & TSO .
My style of trading considers the cost a lot. I preferably wanted to join you since the beginning but whenever I use the calculators on the websites of three biggies my trading costs are on the higher side with you just because you have kept your dream plan the highest.
I just wanted to know from you that if by any chance are you contemplating
any new Plan in near future or any kind of modification in your existing plans ?
If you plan to make any changes in your Dream Plan in near future , do mention about it as I am ready to jump with one of you soon.
@ RKSV ,
Very frankly I would like to put a point. You may be aware or not but VPS Share have opted out of the Online Discount Broking model due to thin margin in retail broking.
This clearly means that retail traders are somewhat getting very paranoid of trading. I am myself feeling the pressure of wafer thin profits.
I am always in search of getting a broker where I can minimize my costs. With VPS I thought that somewhere in the per trade plan I will have to pay less. I was almost finalising to open an account with them but even before getting the forms to fill VPS announced their closure .
Now again I am back to square one of choosing a discount broker. Very meticulously I can say that for me as of now choices have come down to RKSV , Zerodha & TSO .
My style of trading considers the cost a lot. I preferably wanted to join you since the beginning but whenever I use the calculators on the websites of three biggies my trading costs are on the higher side with you just because you have kept your dream plan the highest.
I just wanted to know from you that if by any chance are you contemplating
any new Plan in near future or any kind of modification in your existing plans ?
If you plan to make any changes in your Dream Plan in near future , do mention about it as I am ready to jump with one of you soon.
Very frankly I would like to put a point. You may be aware or not but VPS Share have opted out of the Online Discount Broking model due to thin margin in retail broking.
This clearly means that retail traders are somewhat getting very paranoid of trading. I am myself feeling the pressure of wafer thin profits.
I am always in search of getting a broker where I can minimize my costs. With VPS I thought that somewhere in the per trade plan I will have to pay less. I was almost finalising to open an account with them but even before getting the forms to fill VPS announced their closure .
Now again I am back to square one of choosing a discount broker. Very meticulously I can say that for me as of now choices have come down to RKSV , Zerodha & TSO .
My style of trading considers the cost a lot. I preferably wanted to join you since the beginning but whenever I use the calculators on the websites of three biggies my trading costs are on the higher side with you just because you have kept your dream plan the highest.
I just wanted to know from you that if by any chance are you contemplating
any new Plan in near future or any kind of modification in your existing plans ?
If you plan to make any changes in your Dream Plan in near future , do mention about it as I am ready to jump with one of you soon.
Ah, that's sad news to hear about VPS. On our pricing, sure there is some competitive analysis that goes into creating it just like others. But there's also the other side of the coin as to what we hope to use it towards.
Many people have told us that "well ABC is able to do it for Rs X and you are doing it for Rs Y" - truth is business modeling gets tricky and hard to justify when we just look at it like that and cut our prices
To your point, we don't see us reducing our prices soon... rather we will be using the cash to introduce new tools that will assist investors and traders like you.
Hope that helps and doesn't sound too opaque for an answer.. I really hope you do join us though
Hey traderite,
Ah, that's sad news to hear about VPS. On our pricing, sure there is some competitive analysis that goes into creating it just like others. But there's also the other side of the coin as to what we hope to use it towards.
Many people have told us that "well ABC is able to do it for Rs X and you are doing it for Rs Y" - truth is business modeling gets tricky and hard to justify when we just look at it like that and cut our prices
To your point, we don't see us reducing our prices soon... rather we will be using the cash to introduce new tools that will assist investors and traders like you.
Hope that helps and doesn't sound too opaque for an answer.. I really hope you do join us though
Ah, that's sad news to hear about VPS. On our pricing, sure there is some competitive analysis that goes into creating it just like others. But there's also the other side of the coin as to what we hope to use it towards.
Many people have told us that "well ABC is able to do it for Rs X and you are doing it for Rs Y" - truth is business modeling gets tricky and hard to justify when we just look at it like that and cut our prices
To your point, we don't see us reducing our prices soon... rather we will be using the cash to introduce new tools that will assist investors and traders like you.
Hope that helps and doesn't sound too opaque for an answer.. I really hope you do join us though
Agreed.. I think after a certain point it isn't about costs anymore..We're a country obsessed with quantity not giving due consideration to "quality".. I think its about time brokers like you started making a difference by offering and empowering retail brokers with tools that were never heard of before.. Out of the current list of Discount brokers I only see 2 brokers coming close to doing it.. Zerodha and RKSV...I already have an account with Zerodha...Waiting till I get the Collateral margin benefit from RKSV before I open an account
If I trade 50 Lots of NIFTY Options in one trade where should be I ashamed of Quantity . Where from Quality comes in for NIFTY lots ?
Which TOOL you are mentioning that was never heard off ?
CLOSE TO DOING IT , by the way close to doing what ?
When you are not getting a deal [collateral margin] according to your trading style you are ready to WAIT , if some other person is asking for something according to his/her preference you jump in with your conclusions without knowing what other is expecting.
I don't need Collateral Margin & I trade with Cash , does it make your demand for Collateral Margin invalid anyway ? Should I outline your demand as illogical just because you will get good tools , good customer service from RKSV.
1) Certain Point: If you're still paying Rs.70/lot I'm sorry to say that you're living in a delusional world...With so much talks about Discount Broking on Traderji, having made 85 different postss, you're telling me you are still paying Rs.70/lot.. Just go back to the Main topic of this discussion "Brokers & Trading Platforms" and you'll see what I'm talking about.. What I meant when I said "Certain Point" was, RK Global had it at Rs.9/order, Zerodha started off by offering it at Rs.20/order, someone came up with 15/order, someone at 9/order.. I mean how much lower can you go?
2) Quality: I never asked you to be ashamed of ANYTHING..Quality comes in terms of what the broker has to offer in terms of service.. I don't want to go to someone who is offering the lowest cost cos the thought of saving my capital means more to me than save a few 100 Rs a month.
3) Tools: I have been trading through Zerodha for the last 1.5 years.. The tools I have gotten are:
a) The ability to write my strategy using a product called algoZ.
b) The ablility to calculate margins for position I take: http://zerodha.com/margin-calculator/SPAN/
c) The ability to view all circulars under one link: http://zerodha.com/marketintel/Circulars/
d) A brilliant blog like http://zerodha.com/z-connect/ where my queries on taxes were answered...
e) Resolving queries and taking feedbacks on blogs like Traderji... I mean who even did this 4 years back? I can't remember of any? Such active discussions..
**I am not promoting Zerodha
Isn't this empowering a retail client? Whoever had thought of giving such tools to a client? Wouldn't you be happy if you got some amount of edge in trading.. You know how hard it is to make money..I'm not saying these tools will make you money but they increase your chances of making money however small % it may be.
Close to Doing it: Doing whatever I mentioned on top..
Collateral Margin: I am not demanding anything.. I just highlighted why I wasn't trading with RKSV..Its nothing for you to infer..
And above all of it, there was no reason for you to use all those colours to highlight your points.. No necessity to be so aggressive.. Bad Trading Day mate?? Me and you are retail clients both sailing in the same boat..
@RKSV: I follow what Mr.Raghu Kumar has to say in the newspapers and I find it quiet intersting that someone from the younger generation is giving a thought about the retail clients and actually thinking about us... Thank you..
You are trading with Zerodha , is it questionable ? With your kind of thoughts of living in delusional world all the broking houses will go down except Zerodha because people associated with other brokerage houses are not living in the world which you visualise.
Terms of service , presumably you have set some benchmarks for the kind of service you want maybe which only one broker can provide to you who is of your choice, and all other brokers fall short of the kind of service you expect. I think every individual knows of what quality he expects and what to do when he doesn't get that or should I presume that only you know about quality.
After I highlighted ill explained things in your previous statement you bothered of stating your points about tools which are indispensable for you and you never heard of them before. While making your previous statement you thought that others might not be knowing all this which you have been enlightened with after coming recently to traderji.
What was being asked in a query to RKSV about their forthcoming chances of revising their plans you jumped in with sermon of the world of knowledge you have about what is wrong and what is right.
You questioned about Collateral margin in some previous pages also , if you are not so desperate then why appearing time & again with your expectations. If I would have jumped like you just as you did today in my conversation about my personal query to RKSV, I would have advised you to concentrate on the customer quality assurance of RKSV and the tools which they might introduce in near future which people have never heard off and trade with cash only and don't expect Collateral Margin as it might be a quantitative aspect rather being qualitative.
You jumped in my conversation as you had a blasting profit today probably making you feel you are the best ?
This is to make it clear that you are free to keep your point with RKSV and get an answer from them and let others also feel free like that instead of you commenting like a representative of RKSV.
At last would like to highlight that I have no hard feelings for you and take this as a quality statement.
Happy Trading.
Terms of service , presumably you have set some benchmarks for the kind of service you want maybe which only one broker can provide to you who is of your choice, and all other brokers fall short of the kind of service you expect. I think every individual knows of what quality he expects and what to do when he doesn't get that or should I presume that only you know about quality.
After I highlighted ill explained things in your previous statement you bothered of stating your points about tools which are indispensable for you and you never heard of them before. While making your previous statement you thought that others might not be knowing all this which you have been enlightened with after coming recently to traderji.
What was being asked in a query to RKSV about their forthcoming chances of revising their plans you jumped in with sermon of the world of knowledge you have about what is wrong and what is right.
You questioned about Collateral margin in some previous pages also , if you are not so desperate then why appearing time & again with your expectations. If I would have jumped like you just as you did today in my conversation about my personal query to RKSV, I would have advised you to concentrate on the customer quality assurance of RKSV and the tools which they might introduce in near future which people have never heard off and trade with cash only and don't expect Collateral Margin as it might be a quantitative aspect rather being qualitative.
You jumped in my conversation as you had a blasting profit today probably making you feel you are the best ?
This is to make it clear that you are free to keep your point with RKSV and get an answer from them and let others also feel free like that instead of you commenting like a representative of RKSV.
At last would like to highlight that I have no hard feelings for you and take this as a quality statement.
Happy Trading.
Hi RSKV
I do trade in nifty options. As you would agree they are highly liquid. I place market orders many times to buy and SL-M to exit.
I read on this blog, that you do not allow Market orders to go long in options.
In my view a trader should know the difference and harm of placing a market order in less liquid options contract. But not allowing Market orders to everyone is a problem for many including me. I was considering opening an account today with RKSV but without Market order I won't be able use RKSV account much even if I open now, as mostly I place market orders for buying. So I would defer opening the account for now and wait for you to give market orders for long positions.
So my first query is that will you allow this in future?
My second query is, does RKSV allow to make BASKET ORDER on the exe platform? Are there are restrictions on BASKET ORDER from your side?
many thanks!!
I do trade in nifty options. As you would agree they are highly liquid. I place market orders many times to buy and SL-M to exit.
I read on this blog, that you do not allow Market orders to go long in options.
In my view a trader should know the difference and harm of placing a market order in less liquid options contract. But not allowing Market orders to everyone is a problem for many including me. I was considering opening an account today with RKSV but without Market order I won't be able use RKSV account much even if I open now, as mostly I place market orders for buying. So I would defer opening the account for now and wait for you to give market orders for long positions.
So my first query is that will you allow this in future?
My second query is, does RKSV allow to make BASKET ORDER on the exe platform? Are there are restrictions on BASKET ORDER from your side?
many thanks!!
Hi Virgo,
On the second query -- yes we allow basket orders on the platform.
On the first query -- we are pushing for market orders on the option sell side fairly soon... While ideally we do want to leave such decisions to the trader, a simple mistake has turned out to be costly for us and the trader many times.
We had an instance where a trader was looking to buy a scrip priced at Rs. 20 - 30 for a quantity of 1,000 so he expected to spend Rs. 20k - 30k. However, on that illiquid stock, the full quantity wasn't available at 20 - 30 rupees and it soon went to almost 100 rupees. Since NEST RMS can't calculate the real time liquidity of every scrip, it allowed the order to go through. Immediately the client went in debit and we had to square off his position at a loss. Both us and the client had to share a loss of over 70K on a simple trade.
This is always the risk of buying options @ market price. Ideally if NEST could monitor option instruments and categorize them by "liquid" and "illiquid" realtime, it would be the best solution.
We are looking at other ways to address this problem. Maybe have some sort of market protection order when buying options.
On the second query -- yes we allow basket orders on the platform.
On the first query -- we are pushing for market orders on the option sell side fairly soon... While ideally we do want to leave such decisions to the trader, a simple mistake has turned out to be costly for us and the trader many times.
We had an instance where a trader was looking to buy a scrip priced at Rs. 20 - 30 for a quantity of 1,000 so he expected to spend Rs. 20k - 30k. However, on that illiquid stock, the full quantity wasn't available at 20 - 30 rupees and it soon went to almost 100 rupees. Since NEST RMS can't calculate the real time liquidity of every scrip, it allowed the order to go through. Immediately the client went in debit and we had to square off his position at a loss. Both us and the client had to share a loss of over 70K on a simple trade.
This is always the risk of buying options @ market price. Ideally if NEST could monitor option instruments and categorize them by "liquid" and "illiquid" realtime, it would be the best solution.
We are looking at other ways to address this problem. Maybe have some sort of market protection order when buying options.
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