Upstox - RKSV - Trade in Rs 20 Max

[Creep]

Guys,

When markets are moving fast, you need market orders.. I know it is a very easy to thing to say put a limit order at a lower price, but what if I have 3 different positions?? What about the opportunity lost!!!

The option should be with the client to choose what he wants.... We are in the market and know our risks...

So tomorrow, can the broker stop you from buying a stock saying it is too risky as it may go down???

It is a stupid logic and the only broker in the country that I have heard who doesn't allow market orders.. Hence wanted to know if it is legal or not and if it is illegal for them, any recourse from the exchange to recover this...

 

[sumosanammain]

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[ashishv30]

Any reply ?
Or any of RKSV clients can inform me ?

Hi
Which KRA are you using for KYC ?
Thanks & regards
ashish

 

[RKSV]

Any reply ?
Or any of RKSV clients can inform me ?

Hi ashish,

We use CVL KRA.

 

[RKSV]

http://www.rksv.in/blog/2013/03/importance-of-delta-hedging-in-options/

Good article on delta hedging that we just put up. May be useful for you guys and gals that are trying to learn more about options trading.

 

[DSM]

I can't agree more with you. The option should be with the trader to use Market or Limit order. I use both - Limit orders about 70% of the time, Market order the balance 30%.

RKSV, you guys need to not only see your risk management (which you will be able to cover as traders require margin) but also that of your members. Leaving your members holding the pot is not right.

Await your comments - And please, do respect us, we know what we are doing when we place market orders.

Guys,

When markets are moving fast, you need market orders.. I know it is a very easy to thing to say put a limit order at a lower price, but what if I have 3 different positions?? What about the opportunity lost!!!

The option should be with the client to choose what he wants.... We are in the market and know our risks...

So tomorrow, can the broker stop you from buying a stock saying it is too risky as it may go down???

It is a stupid logic and the only broker in the country that I have heard who doesn't allow market orders.. Hence wanted to know if it is legal or not and if it is illegal for them, any recourse from the exchange to recover this...

 

[RKSV]

I can't agree more with you. The option should be with the trader to use Market or Limit order. I use both - Limit orders about 70% of the time, Market order the balance 30%.

RKSV, you guys need to not only see your risk management (which you will be able to cover as traders require margin) but also that of your members. Leaving your members holding the pot is not right.

Await your comments - And please, do respect us, we know what we are doing when we place market orders.

Hey DSM,

Agreed, the guys here on the forum are much more informed on market risks than most traders. The problem is that the other 80% is not so aware of the risks and sometimes puts us at a difficult position.

We are not banning market orders entirely forever. We will roll out new changes in the software soon (expected 1-2 months) with market orders enabled. The risk management parts will be updated on our side so that it's more protected for everyone.

 

[jatin_the_great2003]

Hey DSM,

Agreed, the guys here on the forum are much more informed on market risks than most traders. The problem is that the other 80% is not so aware of the risks and sometimes puts us at a difficult position.

We are not banning market orders entirely forever. We will roll out new changes in the software soon (expected 1-2 months) with market orders enabled. The risk management parts will be updated on our side so that it's more protected for everyone.

This is bad. I was thinking of opening an account with you people today but thankfully i will drop the idea now.

 

[indiatrader]

A lot of discussion seems to be going on regarding market orders . My two paisa on this

1. A market order actually goes with a price of zero and hits the best/closest price on the market. For example, if I am selling something via a sell order, my stock/future/currency will be sold at the first available buy price standing in the market. If my current price is 1000 ( say), that price can be at 990, 970 or 900 depending on the liquidity of the stock.
2. A limit order is obviously trying to sell at the price which is specified by me.

Now, if the price is at 1000 and I give a limit sell order at 950 ( or at the lower freeze level), it is equivalent to a market order.

I don't understand the hullabaloo regarding the unavailability of market orders, seriously

 

[sumosanammain]

A lot of discussion seems to be going on regarding market orders . My two paisa on this

1. A market order actually goes with a price of zero and hits the best/closest price on the market. For example, if I am selling something via a sell order, my stock/future/currency will be sold at the first available buy price standing in the market. If my current price is 1000 ( say), that price can be at 990, 970 or 900 depending on the liquidity of the stock.
2. A limit order is obviously trying to sell at the price which is specified by me.

Now, if the price is at 1000 and I give a limit sell order at 950 ( or at the lower freeze level), it is equivalent to a market order.

I don't understand the hullabaloo regarding the unavailability of market orders, seriously

Try punching in 2 different prices when the market is moving fast..... the markets in Nifty futures very frequently moves 3 to 5 points in 30 seconds, which is common time required to enter 2 different prices for trigger and price.

Now, trading even a minimum qty of 500 nifty, which is why someone would be at rksv in the first place, to save bkg, its a hit of 1500 to 2500 per order. And thats just for one order. Typical day traders execute 5 to 10 trades per day, and assuming even fast movement in only 1 of those trades, a 2500 loss per day, translates into 50,000 per month. And if it happens 2 times a day which is ABSOLUTELY common, then its a figure of 1,00,000 per month.

5 rupees in nifty futures 30 seconds is very very very common to say the least.

So, a trader who comes to rksv to save bkg, is overall, digging a deep hole for himself.

Even if he is trading ONE lot, it would come to 10,000 per month.......