Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
d
The backoffice stores the password in an encrypted manner, this is why you'll see that when someone requests to resend the welcome letter the passwords are shown as **** and not as plain text.. Sometimes we'd have to check the reports at user level to ensure the correctness of the implementation and the Admin does this through an Admin level access which would allow him to login to any user account and to do this he wouldn't need to know the user's password. All user passwords are stored in an encrypted way and is not made available to any admin..
@yusi and TP, this is specially for you guys 
Remember the issue about Backoffice passwords being kept unencrypted by Zerodha? Read the following email conversation that I just had with them last week (exactly after a year the issue was raised).
Me:
Zerodha:
Me:
Zerodha:
Me:
Do we need any other proof that the passwords are stored unencrypted? BTW, I am still waiting for him to send the activity logs. I am hopeful he would oblige me in this regard.
@Zerodha (Sachin)
This is not a post to rant about it or any sort of complaint. I would reiterate that I still don't have any ill-feelings about your service (as mentioned last year). Just want to set the standards at an acceptable level..
Remember the issue about Backoffice passwords being kept unencrypted by Zerodha? Read the following email conversation that I just had with them last week (exactly after a year the issue was raised).
Me:
Zerodha:
Me:
Zerodha:
Me:
Do we need any other proof that the passwords are stored unencrypted? BTW, I am still waiting for him to send the activity logs. I am hopeful he would oblige me in this regard.
@Zerodha (Sachin)
This is not a post to rant about it or any sort of complaint. I would reiterate that I still don't have any ill-feelings about your service (as mentioned last year). Just want to set the standards at an acceptable level..
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That welcome letter shows the passwords as asterix doesn't mean they are stored encrypted at your servers - they were changed to show only asterix once I had raised this issue last year. (This is the root of the cause which turned my attention - and now you are trying to establish this as evidence in your favour 
.
Moreover, the passwords are not yet kept encrypted even if there was an automated login by the Admin to the client account (which was actually done manually as appears from the email conversation) - there are other ways to know about these stuff
.Moreover, the passwords are not yet kept encrypted even if there was an automated login by the Admin to the client account (which was actually done manually as appears from the email conversation) - there are other ways to know about these stuff
3 points out of 50
It is more than 3 points during last week of exp. For little higher price option ( 80-120 pt) it looses even 6-10 pt per day during range bound market.
If intraday margin block is less (like 5k, we can sell huge lots and make good profits).
NO, i could bring up 50 points, these are three of them
1) option selling is the riskiest form of trading, bar none.
We don't face gap up or gap down in intraday, so here the risk is less.
Also a day trader who successfully trade with nifty futures every day, he used to the market movement. We already buy and sell nifty futures many times.
SUBJECTIVITY
2) lol, u mean someone at zerodha will pre determine "range bound" days
Yes, experienced day traders can predict the range bound market to some extent after comparing various time frame charts. They can see the market as a whole. They change there strategy and indicators according to it. Some advanced traders use swing trade with options too only in the buy side. There are various traders exits in this world and you don't know all of them.
You are counting on an "experienced" trader to be at Zerodha's desk doing analysis and then handing out credit. Do u you know weather a market will be range bound that day or not? Lol, no one does and u certainly do not increase or decrease margins at a brokerage firm based on "your" market outlook ..... in other words ..... SUBJECTIVITY
3) every brokerage firm that does go broke, gave out too much margin (to themselves or their customers) at some pt.
Please understand my view is only for intraday not positional. For intraday 5000 means 100 point, too much for a option. They can square of whenever capital goes below 80% like they do for MIS position for Nifty Future. All of brokers using cover order facility for Index Future where risk is less. There is mot much risk as they can cut off loosing trades even at 70% during intraday. Still we can get a benefit of 70 pt approximately for a Rs 100 option. There is NO gap up or down in intraday so it is definitely possible. Brokers already stop such margin facility during volatile day when there is RBI announcement or budget etc.
They can discuss and change the parameters for Stop Loss.
SUBJECTIVITY
I think I have tried my best. Please note, the risk is different for Intraday when they square off all position 10 min before market closing or cut off position with 80% loss.
Thanks for ur replies, but they reek of subjectivity, do you see the problem here?? I see it clear as nite n day, doesen't matter if i do not know all the exits in the world .... anyways i was pointing it out to you, so that u could see why? Intraday does not matter, liquidity does, the nifty FUT and the option are two different animals, matter of fact regular trading is fairly "simpler" (its still very hard), then option trading which is a 100 times more complicated because of the third dimension (time), no brokerage firm in their right mind will increase credit in these circumstances, certainly not based on weather they think the market is range bound or not "that" day, lol/. Have a good one.
It is more than 3 points during last week of exp. For little higher price option ( 80-120 pt) it looses even 6-10 pt per day during range bound market.
If intraday margin block is less (like 5k, we can sell huge lots and make good profits).
NO, i could bring up 50 points, these are three of them
1) option selling is the riskiest form of trading, bar none.
We don't face gap up or gap down in intraday, so here the risk is less.
Also a day trader who successfully trade with nifty futures every day, he used to the market movement. We already buy and sell nifty futures many times.
SUBJECTIVITY
2) lol, u mean someone at zerodha will pre determine "range bound" days
Yes, experienced day traders can predict the range bound market to some extent after comparing various time frame charts. They can see the market as a whole. They change there strategy and indicators according to it. Some advanced traders use swing trade with options too only in the buy side. There are various traders exits in this world and you don't know all of them.
You are counting on an "experienced" trader to be at Zerodha's desk doing analysis and then handing out credit. Do u you know weather a market will be range bound that day or not? Lol, no one does and u certainly do not increase or decrease margins at a brokerage firm based on "your" market outlook ..... in other words ..... SUBJECTIVITY
3) every brokerage firm that does go broke, gave out too much margin (to themselves or their customers) at some pt.
Please understand my view is only for intraday not positional. For intraday 5000 means 100 point, too much for a option. They can square of whenever capital goes below 80% like they do for MIS position for Nifty Future. All of brokers using cover order facility for Index Future where risk is less. There is mot much risk as they can cut off loosing trades even at 70% during intraday. Still we can get a benefit of 70 pt approximately for a Rs 100 option. There is NO gap up or down in intraday so it is definitely possible. Brokers already stop such margin facility during volatile day when there is RBI announcement or budget etc.
They can discuss and change the parameters for Stop Loss.
SUBJECTIVITY
I think I have tried my best. Please note, the risk is different for Intraday when they square off all position 10 min before market closing or cut off position with 80% loss.
Thanks for ur replies, but they reek of subjectivity, do you see the problem here?? I see it clear as nite n day, doesen't matter if i do not know all the exits in the world .... anyways i was pointing it out to you, so that u could see why? Intraday does not matter, liquidity does, the nifty FUT and the option are two different animals, matter of fact regular trading is fairly "simpler" (its still very hard), then option trading which is a 100 times more complicated because of the third dimension (time), no brokerage firm in their right mind will increase credit in these circumstances, certainly not based on weather they think the market is range bound or not "that" day, lol/. Have a good one.
That welcome letter shows the passwords as asterix doesn't mean they are stored encrypted at your servers - they were changed to show only asterix once I had raised this issue last year. (This is the root of the cause which turned my attention - and now you are trying to establish this as evidence in your favour .
Moreover, the passwords are not yet kept encrypted even if there was an automated login by the Admin to the client account (which was actually done manually as appears from the email conversation) - there are other ways to know about these stuff
.Moreover, the passwords are not yet kept encrypted even if there was an automated login by the Admin to the client account (which was actually done manually as appears from the email conversation) - there are other ways to know about these stuff
