R K Global Issues!

mammu · #**231** 1st September 2008, 06:06 PM

Quote:

Minimum 50% cash margin and rest in form of NSE approved shares with 30% hair cut.

Quote:

Delivery Exposure 100% against available cash margin

Quote:

Exposure against margin (Intraday) 6 times
Exposure against margin (Delivery) 1 time

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No exposure allowed against stock in your Demat account.
Margin on sale will be applicable or else pre pay - in required.

What does these lines means?

Also if I open account and only have 10k, can I trade atleast 1 mininifty intraday?

Just answer these questions and I will run to open an account.

milkyblack · #**232** 1st September 2008, 11:51 PM

Hi mammu,

Say you have 10K... then margin of 6 times means you can trade for an amt of 60K [for intraday only]

For delivery 10k.

If you have stocks worth 10k.. then you get a margin of 7k....

Your stocks I suppose will be in their pool a/c like in case of Religare to avail the margin... if you get them transferred to the demat then they do not provide margin....

With 10k... I do not about mini nifty... but for normal nifty you need 35k[approx]... but again with 10k intraday... Not advisable.... what if few streaks of losses... you will be out of the game[if trading with only 10k... and mini nifty]

Regards

mammu · #**233** 2nd September 2008, 12:54 AM

I can invest more but just for a month I want to trade with mininifty.

Also what is 30% hair cut? Seems very funny term!

pkapadia · #**234** 5th September 2008, 12:52 AM

To answer Mammu's Q about Haircut: Haircut is the rate used by Clearinghouses to reduce the loan value (I looked up in the Glossary

This means that if you have Rs. 100 worth of stocks, and Haircut is 30% then the broker will give you Rs. 70 as margin to trade in Cash contracts. There are many shares on which you get 1:1 margin like Reliance, LT etc. It also depends on your relationship with the Broker.

The margin on futures contract is in two parts: SPAN margin and EXPOSURE margin. For example, Religare charged (as of 19 June) 7.21% as SPAN and 3% as EXPOSURE on Nifty bringing the Total Margin to 10.21%. This keeps changing on a daily basis depending on volatility, market wide position etc. These days it is more like 20% (36,000). Every broker has Margin file (shld be in EXCEL format). Most brokers are within ballpark of each other. An excellent source of info is at Sharekhan's website. Click on Derivatives/Equity Futures & Options. Then click on Derivative Info Kit on the left side under F & O Tools. It's not updated everyday but 2-3 times a week, and carries a lot of useful information about ALL futures, tracks changes in PCR etc.

Paresh

pkapadia · #**235** 5th September 2008, 12:55 AM

I am also thinking of opening RKG account. Unfortunately, I can't install two ODIN's on the same computer, and I've no space for a second comp. I've read this entire thread from the first post with some apprehension about y'all's experience with RKG. Someone mentioned that they are using RKG's Web based trading software. I'd appreciate if they throw more light on its usefulness. I've a feeling that RKG's web-based software (probably Java software) can co-exist with Religare's ODIN on my comp.

For people with d/c problems, I note here FYI that I too faced that problem initially on my old comp with limited RAM (256KB only) until I switched to Core2duo with 4GB RAM (no typo). It used to get hung up if I had graphs open - they chew up a lot of RAM. I tend to have several pages open in my browser so wanted enough memory for speed. Now it runs fine, and does not hang up

I use Win XP/Firewall/AVG antivirus and Airtel broadband since lately BSNL in Pune started giving me trouble. With frequent powercuts, BSNL's external modem used to get disconnected even with UPS but Airtel's modem takes it in its stride and keeps working without a hitch

RKG uses three banks: Axis, ICICI, and HDFC. I intend to do just F&O with RKG. Does anyone have a preference of one bank over the other? I'd appreciate your input on this. All three are closeby to me and I already bank with ICICI.

Paresh

milkyblack · #**236** 5th September 2008, 10:51 AM

Quote:

Originally Posted by pkapadia

I am also thinking of opening RKG account. Unfortunately, I can't install two ODIN's on the same computer, and I've no space for a second comp. I've read this entire thread from the first post with some apprehension about y'all's experience with RKG. Someone mentioned that they are using RKG's Web based trading software. I'd appreciate if they throw more light on its usefulness. I've a feeling that RKG's web-based software (probably Java software) can co-exist with Religare's ODIN on my comp.

For people with d/c problems, I note here FYI that I too faced that problem initially on my old comp with limited RAM (256KB only) until I switched to Core2duo with 4GB RAM (no typo). It used to get hung up if I had graphs open - they chew up a lot of RAM. I tend to have several pages open in my browser so wanted enough memory for speed. Now it runs fine, and does not hang up

I use Win XP/Firewall/AVG antivirus and Airtel broadband since lately BSNL in Pune started giving me trouble. With frequent powercuts, BSNL's external modem used to get disconnected even with UPS but Airtel's modem takes it in its stride and keeps working without a hitch

RKG uses three banks: Axis, ICICI, and HDFC. I intend to do just F&O with RKG. Does anyone have a preference of one bank over the other? I'd appreciate your input on this. All three are closeby to me and I already bank with ICICI.

Paresh

Hi Paresh,

Two ODIN cannot be used! If you are used to ODIN then web based is little (lots) difficult to use... for me at least...

I have HDFC... No preference as such... transactions are smooth b/w RKG and HDFC... never faced any difficulty as such till now regarding transactions... both debit and credit.

Regards

arm · #**237** 5th September 2008, 05:46 PM

I will suggest HDFC as RKG has direct tie up with HDFC Bank. With others pay in - pay out may take more time and problems.

FYI: I use BSNL broadband with a beetel 220 bxi modem. No problems at all with UPS cut over - does not disconnect.

dp111 · #**238** 6th September 2008, 11:27 PM

Rs 9 on nifty option lot looks good and is the cheapest of all , if anyone crruently trading on rk global can share light if any hiddden carges they take , except statutory levis . thank you

milkyblack · #**239** 7th September 2008, 11:13 AM

Quote:

Originally Posted by dp111

Rs 9 on nifty option lot looks good and is the cheapest of all , if anyone crruently trading on rk global can share light if any hiddden carges they take , except statutory levis . thank you

There is no hidden charge... other than the ODIN s/w charge of Rs 336/- a month for F&O...

If also trading in the CM then another Rs. 336/-

Thats all!

Regards

pakatil · #**240** 7th September 2008, 12:31 PM

Dear pkapadia,

If you are keen on having two ODINs, consider installing VMPlayer / VirtualBox. Either of them should work well with 4 GB of RAM.

I am using Religare RacePro. Using their Web based portal is real pain!!

Cheers

The Following User Says Thank You to pkapadia For This Useful Post:
vpsarathy (2nd October 2008)