Upstox - RKSV - Trade in Rs 20 Max

[RKSV]

So, after 2 months you dont care about the losses that you right now feel that we would make if market orders were available.

So, you love your customers only for the next one or two months, and after that , as said by you, you will open them up for the so called dangers of market orders.

WHen people started trading with you, market orders were there. Now they arent. Maybe next week you will take 100 % margin of 280000 per Nifty lot, as you may feel that trading on margins is risky for your beloved clients.

No, in 1-2 months we will improve the risk management side of the software so that market orders will work and protect both client and us.

Currently as it stands, it doesn't have any protection on illiquid stocks where the depth is very thin. Problems like that will be addressed so that we can enable market orders on products like Nifty and Nifty options.

 

[mkbsiva]

I dont think HNI/FII/Institutions and big fishes have any extra previlege. I have seen some software which analyses the order flow and flashes a pop up on the screen indicating large amount of buying/selling is coming in some counter. But this information is available to anyone who is seeing the buy/sell quotes, only thing is in the software the computer does the work and sends alert. But I doubt whether FIIs and Institutions trade on this. I have seen some high value scalpers using this software.

We retail traders have an advantage that we can trade at the optimum points as per our charts and we can move/reverse quickly...and that is our biggest edge on the larger guys as they cannot move fast.

Smart_trade

I went through this press release PDF doc sometimes back...

http://www.nseindia.com/content/press/Realtime_FAO_L3.pdf

in this document, under the level, 4.5 {page 14}, it is said that the client can see market data up-to 20 bid and ask price.

If one can see the bids and ask up to 20, that's the privilege smart money has over the retail crowd.

 

[TraderRavi]

I went through this press release PDF doc sometimes back...

http://www.nseindia.com/content/press/Realtime_FAO_L3.pdf

in this document, under the level, 4.5 {page 14}, it is said that the client can see market data up-to 20 bid and ask price.

If one can see the bids and ask up to 20, that's the privilege smart money has over the retail crowd.

NSEs real time data is provided in three levels (level 1, level 2,level 3 and tick by tick). Level 2 provides market depth data upto 5 best bid and ask prices and Level 3 provides market depth data upto 20 best bid and ask prices.

http://www.nseindia.com/supra_global/content/dotex/data_products.htm

 

[quinox]

NSEs real time data is provided in three levels (level 1, level 2,level 3 and tick by tick). Level 2 provides market depth data upto 5 best bid and ask prices and Level 3 provides market depth data upto 20 best bid and ask prices.

http://www.nseindia.com/supra_global/content/dotex/data_products.htm

This is something i did not know. In US market they have this level 2 order book, but i did not know that in India also it is available. I think we should ask RKSV/Zerodha to contact NSE and get this information for us....i.e whether there are players who have access to the 20 best bid/ask data.

@RKSV......could you please get in touch with NSE and confirm the above ?

 

[timepass]

This is something i did not know. In US market they have this level 2 order book, but i did not know that in India also it is available. I think we should ask RKSV/Zerodha to contact NSE and get this information for us....i.e whether there are players who have access to the 20 best bid/ask data.

@RKSV......could you please get in touch with NSE and confirm the above ?

Yes. Also, at any level, do the stoploss orders show up in this list ? Or do they show only buy and sell orders.

 

[sumosanammain]

Yes. Also, at any level, do the stoploss orders show up in this list ? Or do they show only buy and sell orders.

It even shows the gender of the trader that entered the order, and what that trader had for breakfast.

Level 5 quotes will also show what type of clothes the trader is wearing. So, if the trader is wearing a suit, he is considered an institutional trader and if a trader is wearing pajamas, he is considered a retail client trading from home.

There are many more levels..... want more details? )

 

[timepass]

It even shows the gender of the trader that entered the order, and what that trader had for breakfast.

Level 5 quotes will also show what type of clothes the trader is wearing. So, if the trader is wearing a suit, he is considered an institutional trader and if a trader is wearing pajamas, he is considered a retail client trading from home.

There are many more levels..... want more details? )

Does it show the gender of the computers that the orders came from ??

 

[marimuthu13]

Does it show the gender of the computers that the orders came from ??

It also shows P/L summery of the trader..LOL..

 

[DSM]

RKSV, Do clarify. You are qualifying your statement to mean that 'we can enable market orders on products like Nifty and Nifty options' What about the rest of the futures stocks? Can you give us a clear answer on this.?

What is your defination of illiquid stocks.?

Also, can you tell us how RKSV is at risk, when I have the margin to trade x no. of lots.? Unless, you think that too is not adequate.? Do give us a practical example as to how this margin can place RKSV at risk.? BTW, for extreme (rare) event, that RKSV may feel they are exposed to, there is a product called insurance.

The problem with brokers in India is that once they have sufficient no. of clients, they change their rules as per their whims. So even if a few disgruntled clients leave, they are fine with that.

Sorry to say RKSV, you disappoint.

If you reply, do give an answer that does not insult the intelligence of the TJ members.

No, in 1-2 months we will improve the risk management side of the software so that market orders will work and protect both client and us.

Currently as it stands, it doesn't have any protection on illiquid stocks where the depth is very thin. Problems like that will be addressed so that we can enable market orders on products like Nifty and Nifty options.

 

[DSM]

It is already settled they big players have access to order levels that we retail dont, down below the post.

What we should be wondering is about the orders lined up in RKSV systems, that they have access to before sending in the system! This could give the trading desk of RKSV an advantage.

OK. Thanks for the info.

Could you also clarify whether any HNI/FII/Institutions or any big fishes has the privilege of viewing more than 5 orders in the order book?