Zerodha Part 2

[suraa21]

Erroneous trade in my a/c with ZT

Problem with ZT-Zerodha-Trader.
I was having a short position in currency segement. Yesterday, when I check my mail,95 lots were bought back. Dont know who and why has bought back those position.
In backoffice,it is shown Call n Trade.
If there is margin shortfall,it should not allow us to trade.
I have not used CALL n Trade ,but it is showing CALL n Trade in Back office ledger.
The what if analysis/RMS position shows Wrong Cash margin available.

customer care response on this Issue,they said they will call back in 15min,but No response after 1.5 hour yet.

 

[PartTime_Trader]

Re: Erroneous trade in my a/c with ZT

Problem with ZT-Zerodha-Trader.
I was having a short position in currency segement. Yesterday, when I check my mail,95 lots were bought back. Dont know who and why has bought back those position.
In backoffice,it is shown Call n Trade.
If there is margin shortfall,it should not allow us to trade.
I have not used CALL n Trade ,but it is showing CALL n Trade in Back office ledger.
The what if analysis/RMS position shows Wrong Cash margin available.

customer care response on this Issue,they said they will call back in 15min,but No response after 1.5 hour yet.

And thanks to Zerodha, you got to make your first post after 3 years :lol:

Hope ur issue is sorted out

Cheers
::thumb::

 

[manish9300]

in new version of NSE NOW , OHLC chart is not working....NOW gets hanged everytime i click OHLC.....please solve this issue quickly....

hi zerodha,
please post reply to above!

 

[Zerodha]

Re: Erroneous trade in my a/c with ZT

Problem with ZT-Zerodha-Trader.
I was having a short position in currency segement. Yesterday, when I check my mail,95 lots were bought back. Dont know who and why has bought back those position.
In backoffice,it is shown Call n Trade.
If there is margin shortfall,it should not allow us to trade.
I have not used CALL n Trade ,but it is showing CALL n Trade in Back office ledger.
The what if analysis/RMS position shows Wrong Cash margin available.

customer care response on this Issue,they said they will call back in 15min,but No response after 1.5 hour yet.

Suraa, you will be getting an email response on this also but here is the issue:

Firstly all positions which are squared off by our Risk management team will show as call n trade charges as they were executed on our dealing terminals.

Your account balance was Rs 4.3lks yesterday morning and were holding 315 lots. You had an intraday loss of Rs 1.3 lks, leaving your account balance of around Rs 3lks. With Rs 3lks, you could hold a maximum of 220 lots as per NSE SPAN and hence the remaining 95 lots were squared off by the risk management team.

Nothing wrong with the platform, just one of those unfortunate days where currency was moving around quite a bit and could have happened to anyone.

Best of luck,

 

[Raghuveer]

Re: Erroneous trade in my a/c with ZT

Suraa, you will be getting an email response on this also but here is the issue:

Firstly all positions which are squared off by our Risk management team will show as call n trade charges as they were executed on our dealing terminals.

Your account balance was Rs 4.3lks yesterday morning and were holding 315 lots. You had an intraday loss of Rs 1.3 lks, leaving your account balance of around Rs 3lks. With Rs 3lks, you could hold a maximum of 220 lots as per NSE SPAN and hence the remaining 95 lots were squared off by the risk management team.

Nothing wrong with the platform, just one of those unfortunate days where currency was moving around quite a bit and could have happened to anyone.

30% loss in one day! Is this % loss common among traders?
1.30 lakh loss per day.... Again is this absolute loss amount common ??

Best of luck,

You are right. He sure needs lots of luck.

 

[Zerodha]

Re: Erroneous trade in my a/c with ZT

30% loss in one day! Is this % loss common among traders?
1.30 lakh loss per day.... Again is this absolute loss amount common ??



You are right. He sure needs lots of luck.

Leverage is a double edged sword especially on currency where you get almost 100 times, I am sure Sura on days when has gone right has made more than 30% in a day.

People run difft strategies, we have clients whose stoploss is the capital in the trading account, but they run extreme leverage positions.

One of our winning clients from last year challenge runs something similar, when we spoke he explained us his strategy.

50 lk trading capital, but keeps only 5lk in the trading account which is also his SL. On this 5lk, he takes extreme leverage positions like OTM options knowing that even if he blows out this 5lk, he can take 9 similar chance sand the law of averages would just catch up.

Profits are continuously taken out to keep the trading capital at only 50L. No TA, no QA, FA or whatever, just betting with a brilliant money management strategy... Was up over 200% last year..

Food for thought, with markets tanking and people being in a pessimistic mode...

 

[manojborle]

No it is not there in spam box.
i am using gmail, I will send my email id with my client id
Thanks

I had sent mail to customer care as per your instruction but still the problem is not solved. Today also I did not receive contract note

 

[Smart_trade]

Re: Erroneous trade in my a/c with ZT

Leverage is a double edged sword especially on currency where you get almost 100 times, I am sure Sura on days when has gone right has made more than 30% in a day.

People run difft strategies, we have clients whose stoploss is the capital in the trading account, but they run extreme leverage positions.

One of our winning clients from last year challenge runs something similar, when we spoke he explained us his strategy.

50 lk trading capital, but keeps only 5lk in the trading account which is also his SL. On this 5lk, he takes extreme leverage positions like OTM options knowing that even if he blows out this 5lk, he can take 9 similar chance sand the law of averages would just catch up.

Profits are continuously taken out to keep the trading capital at only 50L. No TA, no QA, FA or whatever, just betting with a brilliant money management strategy... Was up over 200% last year..

Food for thought, with markets tanking and people being in a pessimistic mode...

Very high leverage play in OTM options. Law of averages would catch up but will the person be able to take a 6th or 7th trade if all earlier trades are loosers.

On returns side if returns are 200 % of Rs 50 L then great...but if 200 % of 5 L then only 10-15 Lakhs on 50 L capital so about 20-30 % per annum.

Anyways, different people have different risk tolerence thresholds...

Smart_trade

 

[suraa21]

Hi Zerodha, Thanks to your reply.
Please carefully look into ledger details available in Back office. The cash margin available was 4.78lk.
Also, as per the RMS policy, I heard the positions will be squared off when the MTM loss is 80% of the margin/total capital. Please confirm if this correct.

Even if you were to consider the exchange margin ,
opening balance in a/c was 315*1517 = 477800 (Check backoffice)
nowthe MTM loss is 157500 ( 32% loss)
net balanceshoudlbe 320300

You could show the MTM lossin in everyday statement (As done by Angel broking) without square off the position.
If at all the MTM loss was 380000+(>80%),then it should have been square off. This is my understanding.Hope you could clarify this.

 

[Zerodha]

Hi Zerodha, Thanks to your reply.
Please carefully look into ledger details available in Back office. The cash margin available was 4.78lk.
Also, as per the RMS policy, I heard the positions will be squared off when the MTM loss is 80% of the margin/total capital. Please confirm if this correct.

Even if you were to consider the exchange margin ,
opening balance in a/c was 315*1517 = 477800 (Check backoffice)
nowthe MTM loss is 157500 ( 32% loss)
net balanceshoudlbe 320300

You could show the MTM lossin in everyday statement (As done by Angel broking) without square off the position.
If at all the MTM loss was 380000+(>80%),then it should have been square off. This is my understanding.Hope you could clarify this.

I was giving round figures on this, but I guess there is some misunderstanding..

If Rs 1500 is the SPAN from NSE, we as brokers need to make sure that this much is collected from the client end of the day. If we don't collect there is a short margin penalty levied by the exchange. Every member on NSE has to follow this rule..

So just to correct u, to hold 1lot of USDINR overnight, you need Rs 1500 in your account, if not the position would be squared off to ensure no exchange penalty is levied... Hopefully this clarifies...

Cheers