Zerodha - Number One Discount Broker in India

[Punter786]

Bro still not clear, can you brief in a step by step fashion,what you have done from start and what/how Zerodha has underlined that the action came from your side. Also requesting you to upload images in photobucket as everyone including myself won't be able to access the image site you are in now. Please do brief as everyone herein Traderji can understand crystal clear.

They told me that their log etc. shows it was done from my account and I took their word for it.

Uploaded it all again here for you. http://s945.photobucket.com/user/ra...v-133_00_45PM_zpsaa6fb662.jpg.html?sort=2&o=0

Basically they clarified that in Nifty futures CO if you have one open position then you can take another position and the RMS will allow it (yes even if you have one lot worth of margin!) and the second position if happens to be an opposite position then it will square off the first.

 

[Punter786]

@Akhill, @TradeToLearn,

Please also tell the world why I did Not book the profit.

 

[TraderRavi]

They told me that their log etc. shows it was done from my account and I took their word for it.

Uploaded it all again here for you. http://s945.photobucket.com/user/ra...v-133_00_45PM_zpsaa6fb662.jpg.html?sort=2&o=0

Basically they clarified that in Nifty futures CO if you have one open position then you can take another position and the RMS will allow it (yes even if you have one lot worth of margin!) and the second position if happens to be an opposite position then it will square off the first.

if they are saying so then its bad as CO position cant be squareoff by another CO, as per zconnect.

 

[Zerodha]

Zerodha
A typical newbie query.

If i SS equity using MIS ( liquid mid/large cap scrip), there are almost nil chances of trade remaining open at 3.30 pm.

But let's assume that it doesn't get squared off either by me or system. Consequence will be i will be penalized and shortfall qty will be bought in auction.

Can you pls tell me rules. Will penalty be fixed amount or it's proportional to quantity ?

This should answer all your queries

http://zerodha.com/z-connect/queries/stock-and-fo-queries/consequences-of-short-delivery-nse-bse

 

[Zerodha]

About the incident with Punter, don't remember the exact prices, but here is the gist.

1. Short Nifty future using cover order, there is a pending Buying SL order.

2. Long nifty future using cover order, there is a pending selling SL order

In the admin Position, it will show 1 long nifty CO and 1 short nifty CO, and since the position is completely hedging each other, the margin required is 0, but technically there are still 2 positions being held.

At 3.20, both the pending SL gets squared off automatically by the RMS showing total traded for the day as 100 buy and 100 sell.

So, the fact that margin blocked would have shown 0 at a certain point and Buy qty and sell qty would have shown 1 each, can cause the illusion that there is no position being held. But cover order as a product gives you the facility to take opposite positions on the same contract and hold it simultaneously...

Hope this clarifies to everyone..

 

[doshiv]

Are you sure that latest version of ZT works on Windows Vista ? Please double check for me, or ask other clients . Mr. Linekar & I tried to run the previous update for more than 2 hrs some months back & at last came to the conclusion that updated version of ZT doesn't work on Windows Vista . I am using previous version of ZT on Vista. Thats why I am unable to trade on MCX-SX also . It gets installed but doesn't run. Even though it is my own PC , I will double check your presumption. Thanks for your support. Anyone using latest version of ZT on Vista ?

Zerodha , please give your explanation.

 

[LivetoTrade]

About the incident with Punter, don't remember the exact prices, but here is the gist.

1. Short Nifty future using cover order, there is a pending Buying SL order.

2. Long nifty future using cover order, there is a pending selling SL order

In the admin Position, it will show 1 long nifty CO and 1 short nifty CO, and since the position is completely hedging each other, the margin required is 0, but technically there are still 2 positions being held.

At 3.20, both the pending SL gets squared off automatically by the RMS showing total traded for the day as 100 buy and 100 sell.

So, the fact that margin blocked would have shown 0 at a certain point and Buy qty and sell qty would have shown 1 each, can cause the illusion that there is no position being held. But cover order as a product gives you the facility to take opposite positions on the same contract and hold it simultaneously...

Hope this clarifies to everyone..

Zerodha, so this means, one can place 2 Cover Orders for the 7k+ odd limit

 

[Gandhar.]

Zerodha, so this means, one can place 2 Cover Orders for the 7k+ odd limit

what will be its use if they are opposite

 

[amsin21]

They told me that their log etc. shows it was done from my account and I took their word for it.

Uploaded it all again here for you. http://s945.photobucket.com/user/ra...v-133_00_45PM_zpsaa6fb662.jpg.html?sort=2&o=0

Basically they clarified that in Nifty futures CO if you have one open position then you can take another position and the RMS will allow it (yes even if you have one lot worth of margin!) and the second position if happens to be an opposite position then it will square off the first.

Thanks for the clarification. Opposite of open position squares off, agree and fine. But the moment the system accepts the positions without transaction password, isn't a system glitch and dangerous, as if I'm not in my seat with screen not locked ... think, raising this concern as you didn't mention anything about this part in your briefing, but has in your initial post.

I was going through the images, one more clarification, image inserted from the message addressed to me in earlier post. Asking virtual permission from Punter786.

Admin position : sell avg : 6094.20, buy avg : 6105.60, net buy qty : 50, net sell qty : 100, net qty : -50, LTP : 6067, MTM : 790 (MTM should be 1360 right? ie; (6094.20-6067)*50)

 

[columbus]

NB: Please go through all the screenshots (Order book, Trade Book, RMS cash credit, Contract note) attached carefully. You can see the order number and time etc.

In the contract note you would notice that the order number 2013112831379175 is shown as bought at 15:22, whereas the screenshot of the order is showing this exact order number as bought at 14:27 PM!! So the same order number was bought twice at two very different time!! http://2imgs.com/6fee2f05d6

Thanks for reading this long-winded post Do ask if you have any question for me. Do share if you have gone thru, or heard about, any similar experience.

Let us not suffer silently. Enough is Enough.

Sorry punter786 to know about it.
In case of doubt,You can click on Order No. in TRADE BOOK/Order book ,it will give total history of order.Perhaps it will help other boarders.