Upstox - RKSV - Trade in Rs 20 Max

[RKSV]

Hi,

Any plans of getting NCDEX? Required for a strategy I am planning to trade.

Hey neo,

It's in our pipeline but we have a couple other things lined up.

 

[RKSV]

Hi guys,

Just want to announce that we have released cover orders for Cash and Futures. Margin files have been updated here -- https://www.dropbox.com/sh/000ebfc8vkgsc1p/XMM0EIdHYN/Margin%20Limits.

We will release it to clients fairly soon.

Also, we are working on a new back office tool. You can take a look at the work in progress here -- http://keystone.rksv.in

 

[DataRam]

Hi guys,

Just want to announce that we have released cover orders for Cash and Futures. Margin files have been updated here -- https://www.dropbox.com/sh/000ebfc8vkgsc1p/XMM0EIdHYN/Margin%20Limits.

We will release it to clients fairly soon.

Also, we are working on a new back office tool. You can take a look at the work in progress here -- http://keystone.rksv.in

Here comes the good news ..... :thumb:

Backoffice will look glamorous ..... whoa !!!

 

[RKSV]

Guys, we've officially launched cover orders!

We have started with Futures and Equities for now and we'll soon be bringing it out for currency and then options. We're also going to roll out bracket orders soon.

For those of you who don't use them or want a quick run through, take a look at our blog and help desk:

Blog: http://www.rksv.in/blog/2014/01/introduction-cover-orders/

Help desk: http://help.rksv.in/solution/articles/181256-what-are-cover-orders-

Margin files have also been updated so you get an idea of the lower margins involved with COs!

 

[Gandhar.]

cover orders for options?
how will that benefit in buying options?

 

[saakk]

Guys, we've officially launched cover orders!

We have started with Futures and Equities for now and we'll soon be bringing it out for currency and then options. We're also going to roll out bracket orders soon.

For those of you who don't use them or want a quick run through, take a look at our blog and help desk:

Blog: http://www.rksv.in/blog/2014/01/introduction-cover-orders/

Help desk: http://help.rksv.in/solution/articles/181256-what-are-cover-orders-

Margin files have also been updated so you get an idea of the lower margins involved with COs!

With cover order i can only modify my SL rit??? but can i also put a target order for my trade....

Exa: If i go long nifty (using cover order) say 6300 and put my SL 6290, and i want to put a order for selling it at 6320... can it be done???

 

[RKSV]

cover orders for options?
how will that benefit in buying options?

Here's an example on options. Let's say it's trading at Rs. 100 (the premium price) and you want to place a cover order with a stop-loss at Rs. 90. The margin required for this trade is (Rs. 100 - Rs. 90) * 50 = Rs. 500. Without the cover order, the margin required would have been Rs. 100 * 50 = Rs. 5,000.

Usually the broker has a "safety" or "reserve" factor on the cover order margin. If a broker sets that "safety" factor to 2X, then instead of Rs. 500 for margin, it would be Rs. 1,000.

 

[RKSV]

With cover order i can only modify my SL rit??? but can i also put a target order for my trade....

Exa: If i go long nifty (using cover order) say 6300 and put my SL 6290, and i want to put a order for selling it at 6320... can it be done???

Nope... target orders are considered automated/algo trading by the exchange. We are pushing for them to include it as part of the standard trader's toolkit without any special approvals. Hopefully that comes in soon after we launch COs for other products.

 

[Gandhar.]

Here's an example on options. Let's say it's trading at Rs. 100 (the premium price) and you want to place a cover order with a stop-loss at Rs. 90. The margin required for this trade is (Rs. 100 - Rs. 90) * 50 = Rs. 500. Without the cover order, the margin required would have been Rs. 100 * 50 = Rs. 5,000.

Usually the broker has a "safety" or "reserve" factor on the cover order margin. If a broker sets that "safety" factor to 2X, then instead of Rs. 500 for margin, it would be Rs. 1,000.

SL cover orders for futures are in range of around 3%
is there any such limit for options ? if yes whats it?

 

[RKSV]

SL cover orders for futures are in range of around 3%
is there any such limit for options ? if yes whats it?

Working on all that right now Fine tuning the RMS system so that it accepts COs on all scrips' liquid options in a safe way.