Upstox - RKSV - Trade in Rs 20 Max

[Gandhar.]

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.

plz keep updated on that front
can be useful to trade ITM options instead of futures on good liquid scrips

 

[DataRam]

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.

This is absolutely wonderful.

Can you give an example for selling an Option also through CO ?

If its still in the pipeline due to RMS then no worries , I will wait for the answer.

 

[sachin928111]

co for options are very risky. is there any co or order type where in a co ur first order is a limit order and sl is market order.it will be much safer for both client and broker as well. the example u have given will it be same for futue means if i place a stop of 10 pts in nifty will i need 500 or 1000 in ac?

 

[TradeRaid]

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.

Let me hear this correctly,

are you saying that while buying options, if the premium is at Rs 100, if I use cover order you will let me buy this at Rs 500 instead of Rs 5000 if SL is at 90 on CO? that I guess will be very risky for your RMS, but if you are offering it would definitely be interesting.. ..

 

[RKSV]

Let me hear this correctly,

are you saying that while buying options, if the premium is at Rs 100, if I use cover order you will let me buy this at Rs 500 instead of Rs 5000 if SL is at 90 on CO? that I guess will be very risky for your RMS, but if you are offering it would definitely be interesting.. ..

Hi TradeRaid,

Just gave an example for the sake of it. Option sell is more likely than option buy but both of those will be evaluated heavily before offering it to clients. The timeline is a few months away. By the time we're closer to launching it, we can give you more details.

 

[RKSV]

co for options are very risky. is there any co or order type where in a co ur first order is a limit order and sl is market order.it will be much safer for both client and broker as well. the example u have given will it be same for futue means if i place a stop of 10 pts in nifty will i need 500 or 1000 in ac?

It won't work the same way in futures. You can take a look at the Margin files to see the amount required.

 

[RKSV]

Hey guys,

We've partnered with MarketScientist (http://marketscientist.in/) for weekly videos and updates. Our goal is to push out interesting news at the beginning of every week. MarketScientist already delivers news and videos on Zee Business and BusinessWorld and we'll be making exclusive videos with them in the coming weeks.

Traders who want to track economic events in the coming week and know what stocks to trade can take a few minutes of their day to get their weekly dose. Additionally, we will also try to cover trading strategies and basics of trading for beginners.

Check out our first collaboration here -- how earnings reports affect stock prices and our case in point: Asian Paints. http://www.youtube.com/watch?v=3V9XHNaanY8

Eager to hear your suggestions and what you want to get covered. These videos will progressively get more exciting and better over time!

 

[musicjunkie]

Excellent

Prateek - also known as MJ-

 

[somehownew]

Dear RKSV,

I had transferred 62000rs into my account as margin money and on 22nd Jan 14 (yesterday) bought Asian paints Futures 1000qty expiry on Feb at 473.7rs

I was able to see 1000qty in my Holdings end of the day on 22nd and today morning too. I did not do any trading today, but RKSV 'SOLD' my 1000qty at 477.4rs today

Now two things:
1. How on earth RKSV can sell my futures contract without my conscent, I wanted to hold it more thats the reason I bought it for Feb exipry on the first place. Grrrr, I hope there is some valid explanation for this else I am gonna close the account and start negative campaiging about you to my friends.

2. I see my total available balance as rs 64874.55. As per the brokerage calcularor for dream plan the brokerage(I know what I mean and that I am speaking of final amount debited here including brokerage and SEBI fees) should not be more than 200 rs (2 buy orders of 500qty each and 1 sell order FORCEFULLY done by rksv of qty 1000)
The profit should be 3500rs approx after deducting brokerage of 200rs(200rs arrived by 2 buy 500qty and 2 sell 500qty, although only one sell 1000qty the brokerage should be little lesser than 200 but never mind), then my final balance should be 65500rs,

I really need an explanation on how the calculation arriving at 2874rs profit was done(should be 3500rs even though RKSV forcefully on its own will sells the holdings of its client whenever it wishes) . else this RKSV can very well be deemed as FRAUD

I will be questioning this tomorrow morning at the back office too, today they fooled me into saying 'we will call back shortly' and made me wait like a pig but never called back and gave false info that back office will be open till 10pm, I just ended up getting that voice message when I called back at 7pm after a long wait.

About me: I am a new joinee into rskv pool who got his account activated on monday this week with a asterix star.

asterix star - apparantly my Dmat account has not been linked by rskv guys even though i had given them my existing Dmat acc details and they even made me send the details again. Now just waiting for them to link my rksv trading account to my already existing dmat acc. I was earlier in HDFCsec there brokerage was high and service was poor too so I decided to slowly shift to another side.

I am good as long as there is an explanation, and personally I feel to stick with costly broker than with Fraud but cheap ones. Hopefully rksv is not what I am thinking right now.

PS: I DO NOT one fine morning wish to see that on a day earlier an intraday order had been placed by my broker WITHOUT EVEN MY KNOWLEDGE (FORGET ABOUT MY CONSCENT) and my entire portfolio had been wiped out in that single trade.

Also should be noted that had I got a clear reply to my query when I called backoffice (assuming there exists a reasoning or explanation as to why this happend) I wouldnt be screaming or shouting around in a public forum like this. I for one value my brokers business, but only unless and untill the business itself as we speak is not based on lies. Also I do not have any right to judge or comment on RSKV as of now (except for that service thing where I was made to look like a fool waiting for a reply ). But soon I will have the right to, once I receive OR If at all I receive a clear responce and reason .

Also, I do understand that point 1 above might have got to do something with margin, I guess I got to spend more time understanding how system works rather than jump right into the battlefield hoping to learn on the go. But, I am still surprised about the point 2 I mentioned above (brokerage related)) there is nowhere a mention about hidden charges and comeon tell me about it 625rs more was deducted(with total deductions 850rs roughly) how on earth ?

 

[RKSV]

Dear RKSV,

I had transferred 62000rs into my account as margin money and on 22nd Jan 14 (yesterday) bought Asian paints Futures 1000qty expiry on Feb at 473.7rs

I was able to see 1000qty in my Holdings end of the day on 22nd and today morning too. I did not do any trading today, but RKSV 'SOLD' my 1000qty at 477.4rs today

Now two things:
1. How on earth RKSV can sell my futures contract without my conscent, I wanted to hold it more thats the reason I bought it for Feb exipry on the first place. Grrrr, I hope there is some valid explanation for this else I am gonna close the account and start negative campaiging about you to my friends.

2. I see my total available balance as rs 64874.55. As per the brokerage calcularor for dream plan the brokerage(I know what I mean and that I am speaking of final amount debited here including brokerage and SEBI fees) should not be more than 200 rs (2 buy orders of 500qty each and 1 sell order FORCEFULLY done by rksv of qty 1000)
The profit should be 3500rs approx after deducting brokerage of 200rs(200rs arrived by 2 buy 500qty and 2 sell 500qty, although only one sell 1000qty the brokerage should be little lesser than 200 but never mind), then my final balance should be 65500rs,

I really need an explanation on how the calculation arriving at 2874rs profit was done(should be 3500rs even though RKSV forcefully on its own will sells the holdings of its client whenever it wishes) . else this RKSV can very well be deemed as FRAUD

I will be questioning this tomorrow morning at the back office too, today they fooled me into saying 'we will call back shortly' and made me wait like a pig but never called back and gave false info that back office will be open till 10pm, I just ended up getting that voice message when I called back at 7pm after a long wait.

About me: I am a new joinee into rskv pool who got his account activated on monday this week with a asterix star.

asterix star - apparantly my Dmat account has not been linked by rskv guys even though i had given them my existing Dmat acc details and they even made me send the details again. Now just waiting for them to link my rksv trading account to my already existing dmat acc. I was earlier in HDFCsec there brokerage was high and service was poor too so I decided to slowly shift to another side.

I am good as long as there is an explanation, and personally I feel to stick with costly broker than with Fraud but cheap ones. Hopefully rksv is not what I am thinking right now.

PS: I DO NOT one fine morning wish to see that on a day earlier an intraday order had been placed by my broker WITHOUT EVEN MY KNOWLEDGE (FORGET ABOUT MY CONSCENT) and my entire portfolio had been wiped out in that single trade.

Also should be noted that had I got a clear reply to my query when I called backoffice (assuming there exists a reasoning or explanation as to why this happend) I wouldnt be screaming or shouting around in a public forum like this. I for one value my brokers business, but only unless and untill the business itself as we speak is not based on lies. Also I do not have any right to judge or comment on RSKV as of now (except for that service thing where I was made to look like a fool waiting for a reply ). But soon I will have the right to, once I receive OR If at all I receive a clear responce and reason .

Also, I do understand that point 1 above might have got to do something with margin, I guess I got to spend more time understanding how system works rather than jump right into the battlefield hoping to learn on the go. But, I am still surprised about the point 2 I mentioned above (brokerage related)) there is nowhere a mention about hidden charges and comeon tell me about it 625rs more was deducted(with total deductions 850rs roughly) how on earth ?

Will get to the bottom of this and have someone call you right away.

We don't place random orders for clients. It must be some sort of margin issue or some other RMS rule in place. As for billing, that's an odd number to show up. It's either a monthly fee that gets debited at the beginning of the month or Rs. 25 per trade + taxes.

Will get you an answer soon.