Zerodha....

[shekharinvest]

Zerodha,

Completed the form but found following issues

1.> Your page numbering seems to be erratic

After the pricing page it starts with Page 1 then Page 2 again Page 1, 2 and the next is page 5... Are page 3 and Page 4 missing ?

Similarly for Signatures F1>F2>F2>F3>F6>F7 ... F2 is repeated twice but F4 & F5 are missing.

Is the form downloaded by me incomplete ?

2> There is no provisioning for Nomination while opening the trading only account. What happen to My money lying in your account How can one (successors) reclaim in the absence of Nomination ( Hypothetical question ? No.)

SHEKHAR

 

[rookitrader]

Suppose a share is trading at 100/-. By mistake I place a limit sell order at 10/- or a limit buy order at 1000/-.

Now I have few queries

1. Will this order get executed at my limit price (as it becomes the best offer price) or at current market price? Are there any checks and balances in the exchange to filter out such obviously erroneous orders?

2. If the trade does get executed at the limit price, are there any chances for me to be able to cancel this order after execution?

3. Are there any precautions that I can take, such as some settings on NOW, which prevents such order entries?

All these are hypothetical queries as thankfully till now I have not made any such mistake. I cant take a risk of actually testing such scenario on NOW as I am not sure of consequences.

Thanks,
Amit

I have the experience placing such an order.Instead of stop loss order i kept limit buy order just to check,(thought if wrong I will be making a little contibution to the govt. coffers) and the order was executed luckily at the market.So even the limit buy or sell price is way too different from the market price, it should be executed as market order.
any suggestion to avoid this is welcome

 

[shekharinvest]

Suppose a share is trading at 100/-. By mistake I place a limit sell order at 10/- or a limit buy order at 1000/-.

Now I have few queries

1. Will this order get executed at my limit price (as it becomes the best offer price) or at current market price? Are there any checks and balances in the exchange to filter out such obviously erroneous orders?

2. If the trade does get executed at the limit price, are there any chances for me to be able to cancel this order after execution?

3. Are there any precautions that I can take, such as some settings on NOW, which prevents such order entries?

All these are hypothetical queries as thankfully till now I have not made any such mistake. I cant take a risk of actually testing such scenario on NOW as I am not sure of consequences.

Thanks,
Amit

Amit

1.) They are as good as Market orders If you have not placed a trigger price. Limit orders for Rs. 10 will not allow the system to sell below Rs. 10 but anything above it will be executed similarly limit Buy will not allow you to buy above 1000 but anything below that will be bought. Orders are executed at the current Market prices.

2.) You can't cancel the executed order.

3.) Order far away from Market price are generally rejected by the Exchange. Each stock has it's separate range depending upon previous days closing and volatility factor as decided by the exchange. It could be anything between 5 - 20%. Sachin could give more precise info.


SHEKHAR

 

[Zerodha]

when are you paying the associate percentage ..........i think you forgot about this

We haven't forgotten, just a few roadblocks we faced...It is all sorted, you will see a dashboard on backoffice, where you can track how much you are making every month in the next 10 days...Also all they payouts due to till date will be made as soon as we have it up on the dash board...

Cheers...

 

[Zerodha]

Hey Sachin

Sorry for the late reply, but I received the forms you sent (each are attached twice ; looking at 'em I guess I might escape to web filling would save everyone's life

More questions though

- How the SBI thing is coming up.

- If one regularly changes a stop loss order for a particular stock; will be it charged* each time.

- The Zerodha education thing, when ready will it be free or paid.

- I could see you (not only you) are after intra-day trading, where is some emphasize on long term delivery based holding - any education on that ??

- Do you or NSE TAME has or plan have something like this - where you pick based on several filters - http://www.google.com/finance/stockscreener

- Do you hate people who aren't intra-day warriors but trade once week etc. like some dead thingy.

SBI guys have promised to have it up by April 1st week...

We are charging only on executed orders, placing, cancelling or modifications have no charges at all....

Education, the first few modules are going to be free, but based on response we are planning to have it paid, but a price which definitely would be close to being free... ...

at 20rs/order for your delivery trades, we definitely are pushing delivery based trades also, just that not many on traderji seem to be doing it... ....

We will soon have a professional charting tool for our clients, we are testing data and as soon as we are confident on its reliability we will start giving to our clients.... Again at a cost but probably 1/10th of the market cost....

We love all our traders, but we love intra-day traders a little more .... ...

 

[sumosanammain]

SBI guys have promised to have it up by April 1st week...

We are charging only on executed orders, placing, cancelling or modifications have no charges at all....

Education, the first few modules are going to be free, but based on response we are planning to have it paid, but a price which definitely would be close to being free... ...

at 20rs/order for your delivery trades, we definitely are pushing delivery based trades also, just that not many on traderji seem to be doing it... ....

We will soon have a professional charting tool for our clients, we are testing data and as soon as we are confident on its reliability we will start giving to our clients.... Again at a cost but probably 1/10th of the market cost....

We love all our traders, but we love intra-day traders a little more .... ...

I love you too :rofl:

 

[Zerodha]

Alright, another noob question.
Which figure of Nifty does one have to consider while calculating options prices(however ridiculous this may appear to the veterans).

NSE Cash - 5413.85
or
NSE F&O - 5435.00

Same query for volatility figures -
Underlying annual volatility of Nifty Cash which currently is around 24.82
or
Underlying annual volatility of Nifty Futures which is at 26.27

Not a noob question at all...

All options are settled at the end of the series to the spot(nse cash)... So ideally you should track the spot.... But the futures is trying to predict what the spot will close at... So if you are tracking options you need to track the futures because the futures is trying to predict what the spot would close at ... Same thing with volatility........ Cheers....

 

[2021]

SBI guys have promised to have it up by April 1st week...

will this instant transfer be chargable by bank like neft is 5 bucks per transfer?

 

[Zerodha]

i have a query (sorry if i sound dumb). while transferring money from my bank account to zerodha, where does my money reside? incase of ICICI i have an option to allocate fund to IPO,FnO, trading etc but money resides with ICICI.

when i use sharekhan, i have to txr money from icici to sharekhan and do all the trading and transfer it back.

now coming to zerodha, since you guys deal directly with NSE will my money be with zerodha or with NSE?

This confusion i got after i suggested zerodha to one of my friend who was looking for low brokerage option for big trades. He kind of confused (and scared )me telling "i dont want to keep money with less know firms.what if i sell my shares and before i could withdraw the money the firm closes the door, all my money is gone. but incase of banks your money will be with the bank".

i am sure zerodha is popular among traders but i was surprised by his caution statement.
i am new to money holding patter by firms, risk etc Senior members, zerodha kindly guide me

also, i have another question. Can we do BTST (buy today sell tomorrow ) like ICICI on zerodha? i buy some shares today but i miss intraday due to share price fall so i take shares on delivary. and next day see that prices are up and want to sell. is it possible or i have to wait for T+2 days before i trade the shares?

Also if i sell say 100 shares of 100 rupee each, will this 10,000 be immediately available to trade/buy shares further on same day?

99% of people who trade Indian markets are people who have no idea about it and hence a lot of notions keep floating around...

About your concern, Every broker of NSE has 5 different bank accounts, the important ones are called NSE-client account and NSE -settlement account.... All the client funds that come in and out are happening to the NSE client account... This account is always being monitored by SEBI and NSE.... Whenever a client makes loss, money goes from client account to settlement account and if there is a profit then it is vice versa.... Just because ICICI shows everything on one screen doesn't mean the money is sitting in your SB account, when you allocate funds in icici to trading, the money automatically goes to Icici NSE client account... Because ICICI is a bank come broker, it seems seamless.... But every broker has the same kind of arrangement, be it sharekhan, IB , icici etc.... The rules that monitor icici is the same that monitor us.... Broker has no access to NSE client account, hence even if we go under tomorrow, the funds stay in NSE client account and will go back to you( but note that it has never happened in the history of NSE till date)....

Yes you can do BTST with us also, but there is a little auction risk that is always there in doing BTST...

Yes you will have the funds available for purchase as soon as you exit the previous position....


Cheers....

 

[Zerodha]

Dear Zerodha,

I tried accessing your backoffice (from last friday) but all of the times i got below reponse

Oops! Internet Explorer could not connect to 122.166.124.149:8000

Could u pls let me know how to connect to your back office.

http://122.166.124.149:8000/

Hi,

Please go to our home page and click on the backoffice login link.... we have shifted servers, so if you have bookmarked previously, it won't work... Cheers...