Hi,
Today was a frustrating day with the 'premium' software of reliance money. I was trading in Nifty options and for some reason I was getting delayed quotes on their smart trade software. I tried logging out, disconnect- connect and restart computer etc but the quotes were always delayed by almost 2 minutes.
I placed a buy order and waited a while for it to be executed. The order was showing as "accepted" in the system, inspite of reaching the price that I had placed a limit order for. I then went to check my ledger balance and the amount was deducted, n then I realized that the order was placed.
Immediately opened my tradebook and saw that there is nothing there. Even my net position was not showing any open positions. I went back to order book and it showed the trade still in the "accepted" position but dint show it as traded.
Ofcourse, I couldnt cancel the order because i got an error message saying "order already traded". And it dint let me square off the order, because i kept getting an error message "no open position" (or something like that). It was damn frustrating and finally I go through the usual routine of disconnect- connect and release-renew etc... nothing worked. I restarted the whole system and then I see the damn thing...
The order was placed and it was not showing in the open positions!
I lost about 10 mins and that single trade, nullified whatever advantage this "cheap" broker had given me over others. I lost more money than I can make up by using their lower brokerage.
I guess what I am trying to say is, you only get what you pay for. Atleast that is true with reliance. I am going to probably never trade with these *********** again. Once bitten, twice shy.
I take it this way... That I paid some money to learn a valuable lesson today. Reliability beats cheap anyday. The name of their firm, is such an irony
I had planned to go with RK Global since they had a 9 rupee brokerage scheme. I had called them last week to enquire about the same. Today, though I am a bit worried. I half expect them to be on the same lines as reliance.
Can anyone suggest me a good, reliable broker for options trading? I usually like to close my positions the same day. I am not a fan of paying XYZ amount upfront. I dont mind paying about 1k to 2k, but not really comfortable with anything more than that. The reason is again because I want to try, before I buy. Like I said, once bitten
Regards...
P.S: Let me say this again... you get what you pay for, particularly when it comes to reliance.
Today was a frustrating day with the 'premium' software of reliance money. I was trading in Nifty options and for some reason I was getting delayed quotes on their smart trade software. I tried logging out, disconnect- connect and restart computer etc but the quotes were always delayed by almost 2 minutes.
I placed a buy order and waited a while for it to be executed. The order was showing as "accepted" in the system, inspite of reaching the price that I had placed a limit order for. I then went to check my ledger balance and the amount was deducted, n then I realized that the order was placed.
Immediately opened my tradebook and saw that there is nothing there. Even my net position was not showing any open positions. I went back to order book and it showed the trade still in the "accepted" position but dint show it as traded.
Ofcourse, I couldnt cancel the order because i got an error message saying "order already traded". And it dint let me square off the order, because i kept getting an error message "no open position" (or something like that). It was damn frustrating and finally I go through the usual routine of disconnect- connect and release-renew etc... nothing worked. I restarted the whole system and then I see the damn thing...
The order was placed and it was not showing in the open positions!
I lost about 10 mins and that single trade, nullified whatever advantage this "cheap" broker had given me over others. I lost more money than I can make up by using their lower brokerage.
I guess what I am trying to say is, you only get what you pay for. Atleast that is true with reliance. I am going to probably never trade with these *********** again. Once bitten, twice shy.
I take it this way... That I paid some money to learn a valuable lesson today. Reliability beats cheap anyday. The name of their firm, is such an irony
I had planned to go with RK Global since they had a 9 rupee brokerage scheme. I had called them last week to enquire about the same. Today, though I am a bit worried. I half expect them to be on the same lines as reliance.
Can anyone suggest me a good, reliable broker for options trading? I usually like to close my positions the same day. I am not a fan of paying XYZ amount upfront. I dont mind paying about 1k to 2k, but not really comfortable with anything more than that. The reason is again because I want to try, before I buy. Like I said, once bitten
Regards...
P.S: Let me say this again... you get what you pay for, particularly when it comes to reliance.
