FYERS

[Tejas Khoday]

@Tejas Khoday
I have read your answer to query in quora about api, can an individual get access to it, is there any automated trading in fyers.

Hello @BRINKS , APIs are ready but we have not yet made them available to the general public. Our systems are systems are being upgraded regularly and once all the major upgrades have been made, we will make them available. Currently, it is not a priority.

 

[Tejas Khoday]

@FYERS

Checked your margin calculator but it does not show OPTIONS. Thus posting question here.

What would be the margin for carry-over position for this pair in RELIANCE: Buy FUT and Sell 920 call (both March exp)?
(NOTE the competition: Zerodha: Rs. 1.68 L and Astha Rs. 0.84 L).

Thanks
pos_trader

@pos_trader , We are implementing the SPAN margin calculator on our website soon. Post that, you can calculate option selling margins too. Margins requirements will be equivalent of Zerodha. It looks like Astha Trade does not charge "exposure margins". I have no comments on this.

 

[Tejas Khoday]

Hi @Tejas Khoday ,
I have Few requests for you regarding Fyers Web.
As i have only a single monitor, i place the Fyers Web Window on one side and the stock screener window on the other side.
By doing this, the Fyers Web automatically adjusts its layout, and gets pretty messy as seen on the Image attached to this reply. Things which which annoys me are:
1. The reload Page button appears right above the button which is used to hide the Header. This makes me accidentally click on "Reload Page" instead of that thin button below the "Reload Page" button. and this is happening a lot of time.
2. As the "Reload Page" button appears on the second line of Header, it just widens the height of the header, thereby decreasing the Chart Area.
3. Because of such happenings, it doesnt allow me to "Favourite" multiple Intervals, because suppose when i favourite "1H" interval, it pushes all the button to the right side, and thereby stacking rest of the buttons next to reload Page.

What i want:
1. Since Footer at the bottom is having only the "Dashboard", the rest of the space on footer is just getting waste. Therefore, it would be Great if you place "Fund Transfer", "30 day Challenge" button at the bottom on Footer, next to the "Dashboard" button.
2. As the "Reload Page" Button merely Refreshes the page, their really is no need of that button. since The Traders, who can do complicated stuffs like Fund Transfer, Must be knowing how to refresh a browser's page. it's just as easy as pressing "F5" key on keyboard. So i request you to completely Eliminate the "Reload Page" button.
3. As seen in the Image, the Open High Low Close Values in Red(at top right Corner), are very Difficult to see, if possible, make it a little Bolder so that we can easily read those values in Red without wasting a second.

The changes i Requested takes maybe no more than 2 hours to implement, Hope you will implement all the requested Edits soon. View attachment 24221

1. Thanks for the suggestions. We have put a lot of thought in this and currently, we will not be changing the UI & automatic resizing functionality. I recommend you use it on full screen for the best effects if you are unable to get another monitor. With regards to the OHLC data & other indicator values visibility, please use white/default background. All the values are easily visible.

2. Yes, you can press F5 or the reload page icon on the browser but sometimes the browser will not fetch the latest files from our server. Instead, the files will get loaded from cache (That is not what we want obviously). This is the reason why we introduced the "Reload Page" button.

 

[Tejas Khoday]

@Tejas Khoday Am facing the same issue, and i have told you about this issue on this thread itself. Please Fix it, its taking too long to load. Also the Save layout doesn't work seamlessly.

Hello @bluewolf, please send me your client ID by personal message. The team will get on call and via remote viewing, we want to see this happening in real-time. Because from our end, the load time and save layout work just fine.

 

[headstrong007]

Makes sense, but all the top 16 active contracts in the links you provided were Bank Nifty weekly options. If leverage is provided on them, then the premium deterioration on expiry day can happen in a jiffy especially with ATM & OTM contracts. We'd have to do a study on liquidity before we can implement it. Many of the top traded contracts lost 100% value in a single day last Thursday. Once there is an adverse move, then liquidity can dry out suddenly. It is do-able but a systematic implementation is tricky. We'll have to observe this over a period of time before taking a call.

Yes, premium deterioration on expiry day can happen very fast, specially last hours. That's why also many traders trade with next week option options on Thurs day. I do that too. Even from Weds day, next week options start gaining trading volumes/liquidity. On Thurs day liquidity is no problem on next week options.

1. You can also think of shifting the leverage to next week option on Thurs day(exp day) and no leverage on the current week contract.
2. You can also think, cut off leverage timing 2pm/2:30pm on Thurs day on current week options which are about to expired.
3. Another easiest way to start with.. stop giving leverage on exp day, still 4 days left per week.

Something is always better than nothing. Just like traders Risk Measurement is a must for brokers and innovative ideas always help....

**********
For options traders, leverage on writing (selling first) makes more sense. As premium is very low for buying not many traders need leverage for buying options(rather they want place stop loss and target inside the system as quickly as possible using the BO-CO, not the leverage). Also giving leverage on the sell side(intraday) is less risky as still margin blocked per lot is much more compared to capital used using prem buying. As generally margin blocked for OPTIONS SELLING FIRST is huge, presently many brokers considering good intraday leverage there.
For example, selling Rs 150 priced weekly option with 100 pt stop loss and another 200 pt if, u take for slippage in worst case on most liquid contract. Still, 300 pt on 40 units per lot is max Rs 12000. Whereas selling an option first even on intraday requires about 25,000-30000 margin which seems illogical.
Some brokers already allowed Rs 12000-15000 to sell bank nifty options intraday. Risk management varies from brokers to brokers still it is evident that there are lots of space to reduce intraday option selling margin within the good risk management system.

 

[bluewolf]

we will not be changing the UI & automatic resizing functionality.

You got me wrong, theirs no need to change much, am just requesting you to only place these "Fund Transfer" "30 Day Challenge" "Reload Page" buttons at the bottom beside "Dashboard". That will clear the crowd on the Header. Please do this small change, that will help immensely.

 

[onequorauser]

@Tejas Khoday - This is in line with my previous note on market orders in options. Previously I was told by the support team that one cannot enter market orders but one can close an existing position (by clicking the X button on the visual order) Now even this option seems to be working only sporadically. I had sent out at least 4-5 instances where it wasnt working in the afternoon and then it started working again later in the day. Today the support team tells me that it does not work at all. I dont see how getting out at Market can affect the risk profile of any client.

The point of trading through charts to to make execution quick and hassle free. This goes out of the window if I cannot even exit with one click.

If you are worried about the illiquid options being bought and sold at unreasonable passive orders, you can disable it for such options. for trading in highly liquid, ATM, slightly OTM and ITM options getting in and out at market is a requirement. People use them in lieu of futures.

Also after the upgrage, I have noticed that orders are not placed exactly where the you click the + button on the right. They appear at different spots which makes matters worse when scalping

I would request you to look into it once again or atleast enable the market order for liquid options

 

[kaly422000]

is bank of maharsathra in payment gateway list. i can not use payment gateway. what is the procedure to transfer through imps. sud i upload latest ministatement screen shot to email. any way what is the email after imps payment?
i think no proof required for neft payment

 

[afin]

Yeah, why not? Do give me your inputs on Bank Nifty weekly contracts volatility on expiry days.

After days of traveling in the tribal areas, finally I am back to some decent internet

Yes! I think that you should restrict leverage in BN option contracts (i.e., not provide COs on BN options because there is significant premium deterioration at times), but enable us to buy OTM contracts. Currently the other Bangalore based discount broker does not do that, much to my annoyance because in many cases, I lost some very good opportunities of making money on those trades. There were many instances I predicted the direction right but because buying OTM options was not allowed, I didn't make money.

 

[afin]

Yes, premium deterioration on expiry day can happen very fast, specially last hours. That's why also many traders trade with next week option options on Thurs day. I do that too. Even from Weds day, next week options start gaining trading volumes/liquidity. On Thurs day liquidity is no problem on next week options.

1. You can also think of shifting the leverage to next week option on Thurs day(exp day) and no leverage on the current week contract.
2. You can also think, cut off leverage timing 2pm/2:30pm on Thurs day on current week options which are about to expired.
3. Another easiest way to start with.. stop giving leverage on exp day, still 4 days left per week.

Something is always better than nothing. Just like traders Risk Measurement is a must for brokers and innovative ideas always help....

.

I am personally of the opinion that the above is difficult to remember. It is just too many rules. As a trader, I would want to go with simple heuristics and not keep a tab on too many rules by the broker