Upstox - RKSV - Trade in Rs 20 Max

[nifty.trader.game]

Hi RKSV

don''t u provide market order ?
After Nest trader up-gradation i knew that many people is getting that.

 

[RKSV]

Hi RKSV

don''t u provide market order ?
After Nest trader up-gradation i know everybody is getting that.

Hi nifty trader,

We provide market order on all sides of Equity, Futures, Commodity Futures, and Currency Futures and just selling side on Options.

The only one that's missing is buying options using market order. You can sell options using market order but buying options using market order is the only one missing due to risk management.

 

[SuperSaiyan]

Hold on Question Rksv... I just discovered something new...

The CO order it executes at mkt price right will that work in buying option ?
if yes
then how do i convert Co order to normal if i want to carry forward position ?



Rksv lol nothing against you are my nice broker lol

what exactly is risk management ? IF one had intelligence to do risk management would he ever trade option ? lool can take futures and be safe.
why u wanna do risk management on client money i don;t understand that logic
which other broker gives us freedom

Look at your PL statement of client 90% of them are in loss aren;t they ? Don;t lie to me

anyways i understand Even moon has dents on its surface
You are my moon

Cheers smiles No one is Perfect
Evil smile

 

[DataRam]

@ RKSV ,

Have you prepared any Algo strategy for us [your clients] ? I feel that when we are using Nest Trader , we should also be in a position to use some strategy for semi-automated trading. Or can you help your client to prepare a strategy or atleast some guidelines on how to reach to that level where we could try something on our own in Nest Trader terminal , some kind of brief documentation kind of thing.

Thanks.

 

[DataRam]

Hi rksv,

i have one clarification regarding "mis" and "cover order" trade.

---

can i take position at same time in same scrip through mis and coverorder at a time.

For example:-

i take long on bhartiartl 100 qty under mis at rs 350 and sl given at 345. ( this is one position)

i take short on bhartiartl 100 qty under coverorder at rs 350 and sl given at 355. (this is one position)


can i take two position at same time like above ??

One disturb another one (mis and coverorder)

pls clarify

thanks rksv in advance.

This was a good question . I really liked what you mentioned about two different kind of orders on same scrip.

 

[DataRam]

@ RKSV ,

Have you prepared any Algo strategy for us [your clients] ? I feel that when we are using Nest Trader , we should also be in a position to use some strategy for semi-automated trading. Or can you help your client to prepare a strategy or atleast some guidelines on how to reach to that level where we could try something on our own in Nest Trader terminal , some kind of brief documentation kind of thing.

Thanks.

In Nest Trader , strategies which can be used are of very basic type , but yes the running of the script is tremendously fast.

 

[RKSV]

Hold on Question Rksv... I just discovered something new...

The CO order it executes at mkt price right will that work in buying option ?
if yes
then how do i convert Co order to normal if i want to carry forward position ?



Rksv lol nothing against you are my nice broker lol

what exactly is risk management ? IF one had intelligence to do risk management would he ever trade option ? lool can take futures and be safe.
why u wanna do risk management on client money i don;t understand that logic
which other broker gives us freedom

Look at your PL statement of client 90% of them are in loss aren;t they ? Don;t lie to me

anyways i understand Even moon has dents on its surface
You are my moon

Cheers smiles No one is Perfect
Evil smile

Hey SuperSaiyan,

Thanks for your comments and suggestions Will take it in stride.

No, CO for options doesn't work. We will allow shorting CO in options in the coming months though..

The reason why we blocked buying options in a market order was because for every informed trader we had, there were 4-5 uninformed traders who accidentally placed market orders when buying options. Every month, we booked a loss on these errors. Sometimes the client paid up, many times they just ran away. One fine day we were hit with an 8 lakh loss and decided it just wasn't worth it.

The problem isn't with liquid options like nearby NIFTY options -- it's more with the other 99% of scrips that are illiquid. Unfortunately the RMS won't let us specify what to allow and what not to allow. Additionally, we thought of enabling the feature just for traders who understood the risks and asked for it -- RMS system doesn't let us do that either. It's either on for everyone and everything or off.

NSE NOW was even worse -- either you could allow market orders on all segments or not at all. So you couldn't even place market orders on Futures before -- now with NEST, we have it enabled everywhere except for option buying which is the only problematic part.

Hope that helps.

 

[RKSV]

@ RKSV ,

Have you prepared any Algo strategy for us [your clients] ? I feel that when we are using Nest Trader , we should also be in a position to use some strategy for semi-automated trading. Or can you help your client to prepare a strategy or atleast some guidelines on how to reach to that level where we could try something on our own in Nest Trader terminal , some kind of brief documentation kind of thing.

Thanks.

There is a paid NEST plugin called Nest i3 that other brokers have tried launching. The problem is it is extremely buggy on the server side so we haven't gone that route. Algo trading is something we are very keen on and want to make it easy/simple for many.

From our founders experience in the US -- algo trading in retail wasn't very profitable for retail traders in the US. Brokerages launched it as a marketing tool but when they actually analyzed the PnL of client developed algos, it wasn't very promising. But we will look into see how we can maybe change that...

 

[saakk]

Can i go back to NOW software if i want to???

 

[RKSV]

Can i go back to NOW software if i want to???

Shoot us an email at [email protected] and we'll see what we can do. Worst case, we can move you back yes