Zerodha Part 2

[Zerodha]

Hi
Please tell me required margin to carry for next day with you if I have following positions as they are hedge so risk factor is low.
1. buy 1 lot of Nifty Future at 5900 and buy 1 lot PE of 5800 at 55

2. Covered Call of nifty Buy 1 lot of 5900 at 90 and sell 1 lot of 6100 at 23

I get to carry the above said position from other broker at lower cost so would like to know your offer for same....

Let me give you as per today's price.

1. If you do this together around 24k.

2. 14k for the second.

We have an interesting tool for this: http://www.zerodha.com/z-connect/blog/view/span-calculator

 

[jamit_05]

Jamit,

In trading, the competition is always with yourself and no one else. Control your greed/fear and following proper risk/money management. The idea with the 60 day challenge is to push this point home..

And as far as clients stopping trading to get back brokerage before challenge is concerned, there is so much more to get back at the end of the challenge than only the brokerage and we are hoping that the traders don't miss that point.
Cheers..

I only meant to show the loop hole in the Rules for 60-Day challenge. Since, most of us have more than one trading accounts. In any case, thank you for your response.

 

[aryabhatta]

Dear Zerodha,

for DEMAT account opening is it necessary to make you the POA? This is what the customer support people are telling me, and they said POA only gives power delivery obligations for the transcations completed to and from my account

but in the POA form it says this gives you the power to debit/credit/transfer to any other of your accounts. This is of great concern to me as it basically gives you power to do as you see fit with my DP account holdings.

I would like to ask if it is necessary to give you the POA?

Many thanks

arya

The POA clearly mentions the following which basically gives you deiscretion to do as you see fit with the holdings in the account

1. To operate the Designated Demat Account, hold, pledge, debit all or any of the Securities from time to time held by me/us in the Designated Demat Account and to give such instructions as and when the said Attorney may deem fit, to transfer all or any of the said Securities to any account(s) of Zerodha or in accordance with the instructions of Zerodha towards the fulfilling of all or any of my/our delivery obligations for and transactions completed on my/our behalf through the on-line or offline trading facilities of Zerodha . The Zerodhas beneficiary account details for the above purpose are mentioned more particularly in Schedule II forming part of the present PoA and I understand that any change to the same shall be communicated to me/ us by way of a written communication by Zerodha.

 

[jamit_05]

@Zerodha

I have a similar queries.

1) I do not wish to sign POA. Can I still open a Demat account with Zerodha. What formalities and expenses will increase on my side?

2) If I have already signed the POA and wish to rescind, is it possible?

 

[Zerodha]

Dear Zerodha,

for DEMAT account opening is it necessary to make you the POA? This is what the customer support people are telling me, and they said POA only gives power delivery obligations for the transcations completed to and from my account

but in the POA form it says this gives you the power to debit/credit/transfer to any other of your accounts. This is of great concern to me as it basically gives you power to do as you see fit with my DP account holdings.

I would like to ask if it is necessary to give you the POA?

Many thanks

arya

The POA clearly mentions the following which basically gives you deiscretion to do as you see fit with the holdings in the account

The format of what is in the POA is pretty much standard documentation and is what you will find in any POA that you sign with any broker.

Why the POA is required? Is it mandatory?

Yes it is mandatory if you want to trade completely online and every online broker will ask you for it, you would have signed with your present broker if he is online as well.

The reason it is mandatory is because without this there would be no way for us to debit your demat account when you sell the shares/or want to pledge it for f&o margins.

There should be no issues with this and guess if you would ask our clients, we have the best practice in the business. We never keep any stock in the pool like most of the so called big brokers do.

Hope this helps

Cheers,

 

[jamit_05]

If stocks are not traded, but kept for a prolonged period (Invested), then there is no use for POA. Right?

 

[Gandhar.]

what is the shortcut key to modify order in z trader???

 

[looser89]

can we trade in mcx with zerodha mobile nestmobile.

 

[Zerodha]

If stocks are not traded, but kept for a prolonged period (Invested), then there is no use for POA. Right?

For buying you don't need POA, but without a POA you can't really sell it online...

 

[Zerodha]

what is the shortcut key to modify order in z trader???

F3 for order book and modify button is there.. if you are not seeing pending orders press ctrl+3

also checkhttp://www.zerodha.com/z-connect/blog/view/orders-place-modify-cancel-view