Zerodha....

[BUZZ]

Re: Zerodha Stamp Duty....

@buzz, Margin required to hold nifty overnight is 24k and intraday is 10k....If your broker is letting you buy 1 lot of nifty for 3000 in your account, hmmm... Wait for a market meltdown and you will know the risk you are taking....

If 100 clients of your broker have taken long nifty with 3k as margin and if nifty suddenly falls down 200 points(only 200, 4%)...He will be down 7k per lot... If the 100 guys are long 1000 lots, your broker risks a default of Rs 70lks... So be cautious when you are getting such leverages from your broker, you never know the next 2008 might be around the corner...

Market meltdown? You think people are that stupid they don't use their Stop-loss for their intra-day and positional calls?

Please bear in mind I was talking about intra-day trading not the positional. If you are risk taker you still can take risk for positional calls too.

And I am sure not only me, many people do that.

But that is not the issue that I raised.

Well, if you get such a wonderful margin without even having a single penny in your ledger book account then what else you want?

[margin against your purchased shares]

So now it again proves that IL&FS (where Zerodha clients deposit their shares) does not co-ordinate with Zerodha.

Hence Zerodha clients would not get any margin against their shares held in demat.

Did you guys [ Zerodha) worked on the above?

 

[newbie12345]

Re: Zerodha Stamp Duty....

It's true, I realized it today - with reference to quotes.

I keep observing the comments of a particular person on the market movements,
particulary NIFTY. Today, I get a message from him - "Gone.." in the second
half. My Amibroker chart sees no such thing, thanks to ManshiRT. I look at
NOW's market watch, the price remained almost the same. Then, after 3 or
4 seconds, a big fall started below the support area.

Now, the person who sent the message must have taken atleast a second to
type it, and the transmission might have taken another one second. Three
seconds after I receive the message, I notice the fall in Market Watch. So,
there is atleast a lag of 5 seconds, with reference to the watch window of
the person who has sent the message.

All along, we have been listening to Zerodha about the co-located servers,
and we have been believing them. Friends who have multiple systems could
have observed this, but who knows? their other systems might be worse than
Zerodha.

Then, I thought. May be, there was some truth in what Buzz said, but no one
was caring to listen to him.

Ultimately - how really "real" are the real quotes from NOW?

Hi Murthy,
I had my eyes glued to the screen and there was a brief pause before Nifty fell through support. Swift moves on GDFL and NOW show the same slackness if you would call it that because they have the same data vendor, DotEx.
I have compared NOW(Zerodha) and NEST(Way2Wealth) with TradeTiger, IIFL and RKGlobals DIET ODIN.
Trust me, TT, IIFL and ODIN are easily half a second to two-three(RKGlobal) seconds behind NOW and you probably know the reason why. Maybe the guy who typed the message did so because he might have seen a HUGE sell order that came through or must be at the desk of some brokerage with the right terminal.
Am attaching the chart where I saw a definite pause before Nifty fell through that trendline support and broke another support level. But hey, we always get caught in such minor details and nag about it when the major move comes only in the last one and a half hours of trade every day where smart money decides the course of the market for the rest of the day and screws greedy day scalpers like me content with making 5 points a trade and then giving up 20-30 points in one ugly move when it really happens.
I took a trial of ManshiRT a long time ago but could never get it to work with NOW so I renewed my subscription with GDFL. All I can say is, the data freeze
from GDFL and on NOW happen at the same time. It is annoying but there is very little one can do about it. GDFL's data feed is flawless except for a few minor freezes once in a while.
Nifty Fut 5 Minutes Chart/
Check the chart... it might probably answer your question.

 

[newbie12345]

Re: Zerodha Stamp Duty....

Market meltdown? You think people are that stupid they don't use their Stop-loss for their intra-day and positional calls?

Please bear in mind I was talking about intra-day trading not the positional. If you are risk taker you still can take risk for positional calls too.

And I am sure not only me, many people do that.

But that is not the issue that I raised.

Well, if you get such a wonderful margin without even having a single penny in your ledger book account then what else you want?

[margin against your purchased shares]

So now it again proves that IL&FS (where Zerodha clients deposit their shares) does not co-ordinate with Zerodha.

Hence Zerodha clients would not get any margin against their shares held in demat.

Did you guys [ Zerodha) worked on the above?

BUZZ, believe me there are traders like me who have sat back and watched 2 lakhs go up in smoke in a couple of hours, hoping for God to descend from the sky and turn the market in my favor so that I can save 10 thousand and plan my next trade, instead of acting, as stoploss after stoploss got taken out. My RM called me and said - Why aren't you getting out? I said, no, I am sure the markets will bounce back. He wished me luck and hung up. I was to blame for my stupidity. Simple.

Call us whatever you want to. Given that there are many more like me, you know why Zerodha wouldn't want to take the risk just because their clients want to bet big. Don't you see the positive side of it? They are saving the trader from taking risky bets too. It is better to avoid punching above our weight is what I've learnt after burning a lot more than just fingers in the markets.
If all goes well, we live to see the next trading session otherwise it means a complete wipe out of our accounts.

Your 3k per lot is mouth watering indeed. Could you name your broker ?
Maybe you are a gifted cum disciplined trader who only makes winning trades. I'd love it if you could share your market views and trading calls with all of us

BUZZ, I haven't come across any broker who charges Rs.20 per trade with no brokerage commitment,margin commitment or enrolling for a prepaid plan and no Terminal charges.
Zerodha has started out as a brokerage firm focusing more on trading than offering every available investment product under the sun. They are barely a year old. Am sure they will roll out new services as they grow in size.
I would love it if they ran a pooled account like other brokers do, so that I could go short on select scrips and hold it for weeks, particularly those scrips which aren't traded in FnO. Alas, the guys at the top are high strung on compliance and we can't blame them

I'd recently come across this Rs.5 per ordercompany. Don't know how reliable they are and I don't intend to give Rs.1 Lakh upfront as brokerage.

What we forget as traders is, we focus more on brokerage and less on trading. To think of it, I was a more disciplined trader when I was paying Rs.50 per lot than now. I made fewer mistakes and respected stop losses and avoided taking rash decisions. But hey, I can't hold Zerodha responsible for my poor trading decisions.
Nifty hit lower circuit within a few hours in 2008. There is no guarantee that it won't happen again. Better to be safe than sorry. This comes from someone who hasn't always been on the winning side.
Btw, nobody at Zerodha has bought me lunch at Subway for me coming to their defense
I have my own issues with them regarding the delay in starting commodities trading but I will save the rant for now. It won't help the situation.

It is one thing to nitpick if the grouse is genuine, but it is quite unfair to flog them for a service they do not offer at present. And just because Broker X or Broker Y offers a particular value added service, you deem it fit to call them Frauds does not augur well for a grown up like you who has been a trader for a while. No offense meant. Cheers!

 

[Zerodha]

For opening a new account with Zerodha, if I choose not to open a demat with ILFS, do I have to pay the AMC for trading account each year?

Thanks Zerodha

Trading account has no amc..

If it is an equity trade and squared off by the system there is no charge...

If it is an f&o trade, there would be an additional charge of Rs 20 as call n trade, for positions squared off because of margin shortage....

 

[Zerodha]

Re: Zerodha Stamp Duty....

BUZZ, believe me there are traders like me who have sat back and watched 2 lakhs go up in smoke in a couple of hours, hoping for God to descend from the sky and turn the market in my favor so that I can save 10 thousand and plan my next trade, instead of acting, as stoploss after stoploss got taken out. My RM called me and said - Why aren't you getting out? I said, no, I am sure the markets will bounce back. He wished me luck and hung up. I was to blame for my stupidity. Simple.

Call us whatever you want to. Given that there are many more like me, you know why Zerodha wouldn't want to take the risk just because their clients want to bet big. Don't you see the positive side of it? They are saving the trader from taking risky bets too. It is better to avoid punching above our weight is what I've learnt after burning a lot more than just fingers in the markets.
If all goes well, we live to see the next trading session otherwise it means a complete wipe out of our accounts.

Your 3k per lot is mouth watering indeed. Could you name your broker ?
Maybe you are a gifted cum disciplined trader who only makes winning trades. I'd love it if you could share your market views and trading calls with all of us

BUZZ, I haven't come across any broker who charges Rs.20 per trade with no brokerage commitment,margin commitment or enrolling for a prepaid plan and no Terminal charges.
Zerodha has started out as a brokerage firm focusing more on trading than offering every available investment product under the sun. They are barely a year old. Am sure they will roll out new services as they grow in size.
I would love it if they ran a pooled account like other brokers do, so that I could go short on select scrips and hold it for weeks, particularly those scrips which aren't traded in FnO. Alas, the guys at the top are high strung on compliance and we can't blame them

I'd recently come across this Rs.5 per ordercompany. Don't know how reliable they are and I don't intend to give Rs.1 Lakh upfront as brokerage.

What we forget as traders is, we focus more on brokerage and less on trading. To think of it, I was a more disciplined trader when I was paying Rs.50 per lot than now. I made fewer mistakes and respected stop losses and avoided taking rash decisions. But hey, I can't hold Zerodha responsible for my poor trading decisions.
Nifty hit lower circuit within a few hours in 2008. There is no guarantee that it won't happen again. Better to be safe than sorry. This comes from someone who hasn't always been on the winning side.
Btw, nobody at Zerodha has bought me lunch at Subway for me coming to their defense
I have my own issues with them regarding the delay in starting commodities trading but I will save the rant for now. It won't help the situation.

It is one thing to nitpick if the grouse is genuine, but it is quite unfair to flog them for a service they do not offer at present. And just because Broker X or Broker Y offers a particular value added service, you deem it fit to call them Frauds does not augur well for a grown up like you who has been a trader for a while. No offense meant. Cheers!

Your id says newbie???? are you kidding... ... You should be an experiencedbe.....

To add to what newbie has told, we are looking at adding so much more. Today because of all the support, we can offer so much more without any additional cost...

When we wanted to get out of the FT deal for MCX, they put a roadblock by showing their muscle like every lame big business in India does... We are through that roadblock and waiting for our internet based trading license for MCX... Also waiting for IBT for NSE... BSE is waiting for SEBI approval...

NOW is most likely to go paid from March-April... To ensure we don't have to charge any of you, we are already getting NEST with collocated servers ready, to ensure you get same performance with a much better user interface at zero cost... Programmed trading, cover orders, trailing stops, trading greeks, API's etc are all lined up with NEST.. Unfortunately this is such a high regulated business, that everything takes like forever...

But newbie, what you have written is an awesome read and the sub is definitely on me, if I could know your real name... .... :clap:

 

[arulmozhiselvan]

@zerodh: After installing the new NOW software every time when I tried to logout the application got frozen. I need to kill the exe manually from the task manager.
Did anyone facing logout problem with the latest NOW exe.

 

[Zerodha]

@zerodh: After installing the new NOW software every time when I tried to logout the application got frozen. I need to kill the exe manually from the task manager.
Did anyone facing logout problem with the latest NOW exe.

@arul, can you shoot your client id to [email protected] will get back to you on this.. This is not a generic problem...

 

[newbie12345]

@zerodh: After installing the new NOW software every time when I tried to logout the application got frozen. I need to kill the exe manually from the task manager.
Did anyone facing logout problem with the latest NOW exe.

I faced the same problem when I logged in after checking the NEST Plus checkbox at the login prompt. My OS is Windows 7 Home Premium.

 

[newbie12345]

Re: Zerodha Stamp Duty....

Your id says newbie???? are you kidding... ... You should be an experiencedbe.....

To add to what newbie has told, we are looking at adding so much more. Today because of all the support, we can offer so much more without any additional cost...

When we wanted to get out of the FT deal for MCX, they put a roadblock by showing their muscle like every lame big business in India does... We are through that roadblock and waiting for our internet based trading license for MCX... Also waiting for IBT for NSE... BSE is waiting for SEBI approval...

NOW is most likely to go paid from March-April... To ensure we don't have to charge any of you, we are already getting NEST with collocated servers ready, to ensure you get same performance with a much better user interface at zero cost... Programmed trading, cover orders, trailing stops, trading greeks, API's etc are all lined up with NEST.. Unfortunately this is such a high regulated business, that everything takes like forever...

But newbie, what you have written is an awesome read and the sub is definitely on me, if I could know your real name... .... :clap:

Programmed trading will be a life saver for an emotional moron like me. The sub should actually be on me
I understand what FT did wasn't fair, but hey, that's how the big fish play. Am sure it will be worth the wait... the markets aren't running away anywhere

 

[timepass]

I face this problem of the software hanging on exit quite often. My OS is win7 ultimate.

The other problem with charts continues, "The parameter is incorrect" error. Hope zerodha is listening.