Upstox - RKSV - Trade in Rs 20 Max

[mohideen171]

Hello Members,
Today my RKSV account got approved.:clap: More excite now as my previous account balance with other company for the past few years was ruined due to huge brokerage. That is for currency Rs.25 per lot. Please don't faint. So my breakeven comes over 6 paisa. I wasted my money there.
Now hope i can do multiple trades with RKSV and do a wonderful Money Management.

Experienced Traders on currency please give me your advice and suggestions.
Thank You:clapping:

 

[DSM]

RKSV - First the compliments :

1. Am using NEST platform. The transition from NOW was seamless, and quite happy with RKSV's services.
2. Generally queries over phone or this thread get resolved quickly. Thanks for that.

The one problem that I have encountered - when I am travelling, or am not online, and when I have to call RKSV - the line is busy for sometime, and then there is waiting..... Once connected however, there is no issue.

If this problem of waiting could be looked into and resolved - that would be great! Maybe if you folks look at the call log, you may know how much time a client had to wait. However, the log may not tell you how many customers called and disconnected because the line was busy....

Appreciate if this can be resolved.

Thanks.

 

[RKSV]

RKSV - First the compliments :

1. Am using NEST platform. The transition from NOW was seamless, and quite happy with RKSV's services.
2. Generally queries over phone or this thread get resolved quickly. Thanks for that.

The one problem that I have encountered - when I am travelling, or am not online, and when I have to call RKSV - the line is busy for sometime, and then there is waiting..... Once connected however, there is no issue.

If this problem of waiting could be looked into and resolved - that would be great! Maybe if you folks look at the call log, you may know how much time a client had to wait. However, the log may not tell you how many customers called and disconnected because the line was busy....

Appreciate if this can be resolved.

Thanks.

Hey DSM,

Thanks for the compliments. Much appreciated.

Now on to the areas of improvement -- yes we have tools to measure call loads and availability. There was a period about 3-4 weeks ago when we had extremely high call volumes. This was a one off event because of (a) severe currency and commodity volatility along with (b) migrating users from NOW to NEST.

We do have logs that tell us when calls kick in and when they don't. We have upped our support staff since then and are planning on increasing our call and trade staff by 100% in the coming month. This will alleviate high pressure market days and longer than normal waiting times at 9:15AM. As for (b), most users have been migrated to NEST so that has already gone down.

Our goal is to fully segregate call and trade and technical team. Next is to get our CnT pickup times in less than 10 seconds in the coming months. Nothing matters more to a trader than the speed of execution -- and that counts both online and offline.

Hope that helps.

 

[neon_786]

Hi RKSV,

Do you allow the premium received from writing options to write further options?
For eg: If I write Nifty 5200 CE @ Rs.735, the margin blocked maybe around 50k.. But I receive a premium of Rs.37000..I want to know if I can use this 37k to write further options.

 

[DSM]

Gladdens my heart! More Power to you! :clap::clap::clap:

Hey DSM,

Thanks for the compliments. Much appreciated.

Now on to the areas of improvement -- yes we have tools to measure call loads and availability. There was a period about 3-4 weeks ago when we had extremely high call volumes. This was a one off event because of (a) severe currency and commodity volatility along with (b) migrating users from NOW to NEST.

We do have logs that tell us when calls kick in and when they don't. We have upped our support staff since then and are planning on increasing our call and trade staff by 100% in the coming month. This will alleviate high pressure market days and longer than normal waiting times at 9:15AM. As for (b), most users have been migrated to NEST so that has already gone down.

Our goal is to fully segregate call and trade and technical team. Next is to get our CnT pickup times in less than 10 seconds in the coming months. Nothing matters more to a trader than the speed of execution -- and that counts both online and offline.

Hope that helps.

 

[RKSV]

Hi RKSV,

Do you allow the premium received from writing options to write further options?
For eg: If I write Nifty 5200 CE @ Rs.735, the margin blocked maybe around 50k.. But I receive a premium of Rs.37000..I want to know if I can use this 37k to write further options.

Hi neon,

Yes you'll get the premium but it will only arrive the next day (T+1).

 

[neon_786]

Hi neon,

Yes you'll get the premium but it will only arrive the next day (T+1).

I can use this premium to take further short option positions?

 

[mohideen171]

Hello RKSV,

I am currency futures trader. Now i am interested in Currency Options. Don't know how to calculate break-even for this from your calculator.

If i wish to buy USDINR strike price 62 PE at Rs 0.20 what would be my break-even?
Without a RM how could the beginners learn to trade.
Regards

 

[RKSV]

Hello RKSV,

I am currency futures trader. Now i am interested in Currency Options. Don't know how to calculate break-even for this from your calculator.

If i wish to buy USDINR strike price 62 PE at Rs 0.20 what would be my break-even?
Without a RM how could the beginners learn to trade.
Regards

Hi sir,

The break-even is 0.0011 on the Freedom Plan. On Dream Plan, it will depend on your quantity. The more quantity you buy, the smaller your break-even.

You don't need to know the strike price of options to figure out the break-even. You just need the current price (Rs. 0.20) of the option. See this link.

On learning to trade, we are seeing if we can partner with other firms who specialize in education. RMs may not necessarily be the best on teaching you how to trade. We have a partner, FinIdeas who have free and paid videos on their site to help you learn how to trade options.

 

[RKSV]

I can use this premium to take further short option positions?

Yes you can.