Zerodha Part 2

[rag_bh]

Is there any physical settlement for Alumini, zinc mini and Nickel mini lots?

 

[Zerodha]

Received mail from Zerodha, which is also available here,
http://www.zerodha.com/z-connect/blog/view/update-june-26-2013

Now Point 2 says,

" 2. MCX-SX, the new stock exchange has shown a gradual increase in their turnover. All of you who are enabled on MCX-SX (Stock and Currency Exchange) can start trading from July 1st 2013. You will need to install a new version of Zerodha Trader, do send an email to [email protected] for the installation file. As an inaugural offer, there will be no brokerage charged for trading on MCX-SX (Equity) until Aug 31st 2013. If you are not enabled, fill, print, sign, attach relevant documents and courier this form to us."

Need clarification from Zerodha on the Bolded Red part, which talks about MCX-SX(Equity), but not about MCX FNO, So Zerodha is this inaugural offer only for Equity trades, or is it applicable to FNO trades on MCX too? Please reply.

By equity we meant the equity exchange and not the currency exchange. So stocks and f&o on MCX-SX will be free

 

[rag_bh]

I get "Security is already matured" for above when i try to close positions

 

[Zerodha]

Zerodha,

I am in profit in commodities in 60 days challenge. I have claimed that from the backoffice 2-3 days ago. But still I have not received the brokerage back.

Firstly, congrats,

Secondly, the refund will happen within 2 weeks from the close of challenge.

 

[Zerodha]

Is there any physical settlement for Alumini, zinc mini and Nickel mini lots?

They are all cash settled , so lucky, u don't have worry about taking delivery of zinc and nickel..

U would have received a note on the terminal saying that trading is allowed from exchange on this only till 5.35pm on the expiry day, which is today.

You cannot take fresh positions now,

The existing positions will be cash settled based on the closing price at 5.35pm and your funds will be credited/debited and settled tomorrow.

Cheers,

 

[columbus]

I am still using ZT.3.10.57.97.7.Perhaps may be this feature is available in NEW version.Please Clarify it.

You can customize the time frame, right top of the chart , you can make it 3 mins ..

Zerodha,
I am unable to do so.ZT.3.10.57.97.7 is the latest version??

 

[columbus]

today not able to login in NOW , stopping/hanging at 84% download scrips..............anybody else facing the issue..........

On FIRST day of every series this problem occurs.Because so many scrips
(Equity+Futures+Options) are to be loaded.

 

[Zerodha]

Zerodha,
I am unable to do so.ZT.3.10.57.97.7 is the latest version??

My bad,

Right click on the chart, under set interval you can see an option called configure..

Click on this,

Now you will see an interval box on the right top of the chart. set it to your required interval in minutes..

 

[virgoakb]

Cover orders not available on NOW.

You cannot use the profits for converting more MIS positions to NRML because that is not a realized credit. There will be short penalty charge if we let you hold, from the exchange side.

Cover order is a complete intraday product, you cannot convert it to NRML. You will have to square off the cover order product and take a fresh position as NRML.

thanks. in line with above please consider the below scenario.

Say I have some amount X in my account. I use up the FULL AMOUNT to buy/sell say Y number of future lots as NRML and I intend to hold my position till expiry.
Suppose the stock price keeps going up and I am in MTM profits. But as the stock price moves up my understanding is that the overnight holding margin also increases. Please correct if I am wrong here.

Due to increase in holding margin per lot, the total overnight holding margin for Y lots would become more then my initial amouunt X, but would be substantially less the the sum of X and my total MTM profits (gained over the last few days since I entered into this trade)

NOw my question is what would happen to my position of Y lots.

will I be required to square off my positions to realise the MTM profits and create new positions if I intend to hold longer?
Or will I be allowed to hold positions as my MTM is in huge profits? For this to happen, will the MTM profits be credited to my account periodically, like after end of every trading day or after every 3 days or after every increase of 1% or some other method?

To summarise,

My current understanding based on what you said above is that the MTM profits you make during the trading day are not added to the limit on the same day. and the unrealised profits are not available for trading on the trading day.

But what happens on the morning of the next trading day. Do you add the MTM profits (I made yesterday) to the trading limit on the morning of the next trading day? (even though I have not sold my future lots and I am still holding them as I expect more gains today)

To be more clear I would like to give an example. So for example I have 100,000 and I purchase 4 future lots (25000 overning margin per lot) and make a profit of 10,000 by 12.00 PM. Now I intend to hold these positions till few more days or till expiry. During the rest of the day I cannot do any other trade as my full 100,000 is blocked as futures margin, and I also cannot use the notional 10,000 as its still unrealized. So at end of trading day I have 100,000 capital, 10,000 Unrealized MTM profit and I was not able to use the extra 10,000 for trading during the day. So that's my current understanding. Please correct me if I am wrong.

My question is that during the morning of next trading day, will you add the 10,000 profit to my capital and will I be able to use it for trading? (Considering I am still holding the 4 lots and I wont be able to use for trading the 100,000 I initially had in my account)

thanks.

 

[Gandhar.]

Firstly, congrats,

Secondly, the refund will happen within 2 weeks from the close of challenge.

do we have to claim the brokerage after completion?? IF PROFITABLE?