Zerodha....

[Zerodha]

Re: new cheapest broker is here. Zerodha

Zerodha,

It seems there is a new rule which i came to know day before yesterday, which requires that I have to send a photo that too with my pan card holding. Is it a new rule according to SEBI/NSE/BSE

As it is we are submitting all documents which is a proof in intself

Because of a lot of fake PAN cards and problems of benami accounts, exchange has tightened their screw on in person verification. We can do it either by you coming on a webcam or if you can have the PAN card holding photo, it gives us a proof that it is not a benami account. The reason we are doing this rigorously unlike other brokers is to make sure we follow right systems and not follow any short cuts, which at the end of the day is good for all people doing business with us.... Cheers...

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

:thumb::clapping:
Would be even better if this can be applied to all hedged positions where the amount of risk is known before placing the trade.

We have been on it for the last 15 days on setting up rules on our risk management which will identify these kind of positions... The problem is not entering the trade, it will let a client enter...It is a little technical..
The problem happens while exiting... if 6000 calls and puts are written and 6200 calls and 6200 puts are bought say at 150 150 and 70 70.. The max risk on this strategy is say max 100 points.. The problem happens, when he exits his one short option position... Suddenly he will be holding a short option position just with 7 k in his account, whereas he would need 30000.. So these kind of orders have to be able to be placed on spread order window.. Where a client enters and exits everything at market prices....
We are working on it though..Unfortunately, people who have designed trading platforms in India haven't given too much thought to this aspect of the business....

 

[Prashant Patel]

Re: new cheapest broker is here. Zerodha

Should I have to fill in the form or that will be done by you, as I have signed on all pages!

 

[summasumma]

Re: new cheapest broker is here. Zerodha

We have been on it for the last 15 days on setting up rules on our risk management which will identify these kind of positions... The problem is not entering the trade, it will let a client enter...It is a little technical..
The problem happens while exiting... if 6000 calls and puts are written and 6200 calls and 6200 puts are bought say at 150 150 and 70 70.. The max risk on this strategy is say max 100 points.. The problem happens, when he exits his one short option position... Suddenly he will be holding a short option position just with 7 k in his account, whereas he would need 30000.. So these kind of orders have to be able to be placed on spread order window.. Where a client enters and exits everything at market prices....
We are working on it though..Unfortunately, people who have designed trading platforms in India haven't given too much thought to this aspect of the business....

Hi,
Good to know that you are trying to implement this less investment hedged position strategies in option.
Please consider Credit Spread also. That is, suppose for todays price (nifty@6000) if i,
short 5900 CALL @ 180,(@80+premium)
long 6000 CALL @ 110, (@110+premium)
then i got credit of 70 POINTS immediatly which i can take home if market goes down @ expiry and maximum i can loose is 30 POINTS(when market goes up @ expiry)... so with just 1500Rs(30pts) i should be able to enter this trade.
This means im risking juz 1500 bucks on whatever direction market moves for sure.
IMO, this should be easy to implement when the orders are executed @ same time for both the legs which techincally needs little modification during ENTRY/EXIT (may be 1 additional field).

Thanks,
...Summasumma

 

[youngindian]

Re: new cheapest broker is here. Zerodha

Hi,

Just got GPRS activated. Can someone help me how to download NSE mobile application. When i try to register my number it is saying that the number has been already registered. I am getting this because, i have registered few days back before i have GPRS activated.

Zerodha/Any Traderji Member, please help how to get this NSE mobile application into my mobile.

Once i get it installed in my mobile, can i use to watch the Nifty futures or should i have a trading account with some broker even for having a watchlist.

Appreciate your response.

Thanks,
Chanti

 

[kakadia]

Re: new cheapest broker is here. Zerodha

Hello Zerodha,

Though this has been discussed earlier, I have a question on clearing charges.
I had placed an order as below with my current broker.

order: Sell 4 lots NIFTY 5700 at Rs. 175
Total premium: 35000

The transaction charge and clearing charge applied are:
Transaction charge: 17.50
Clearing Charges : 35.25

I can understand the transaction charge as 0.05% x 35000 = 17.50
But I don't see they charged 0.03% on 35k as clearing charge.
When I asked, they said clearing charge is 0.003% and is applied on strike+premium.

so for my case it is 0.003%[(5700+175)x200] = 35.25

I am confused now. what is the exact equation for clearing charge?
Can you confirm, for Zerodha, whether it is applied on total premium only or (strike+premium)xqty?
which is true from below for Zerodha for clearing charge?
- 0.03% of premium
- 0.003% of (strike+premium)xqty

 

[anayash]

Re: new cheapest broker is here. Zerodha

Should I have to fill in the form or that will be done by you, as I have signed on all pages!

arey PP...just put in ur name...email ID...n phone no. in zerodha form....n signatures wherever required....baaki sab vo log bharenge!!

IL&FS form mein sirf signatures kar....rest will be filled by them!:thumb:

 

[ltnikhil]

Re: new cheapest broker is here. Zerodha

good to see so many people thinking on same lines

 

[ltnikhil]

Re: new cheapest broker is here. Zerodha

hi zerodha
can you enlighten me some more about calender spread strategies and in what condition they give profit/loss.

 

[Prashant Patel]

Re: new cheapest broker is here. Zerodha

arey pp...just put in ur name...email id...n phone no. In zerodha form....n signatures wherever required....baaki sab vo log bharenge!!

Il&fs form mein sirf signatures kar....rest will be filled by them!:thumb:

caught it!!!