RKSV - Unlimited Online Trading - Part-2

soft_trader

Well-Known Member
#1
I don't know about the new features. They said that it was a bugfix for win7. Downloaded it from RKSV website.
Oh! got it. It is the patch for windows 7. I have once installed that that patch, but after installing that NOW used to hang every now and then so reinstalled NOW without that patch. Since then, NOW working great!! :cool:
 
#2
Re: RKSV - Unlimited Online Trading @ 1947/-

Hi RKSV,

I have recently opened an account with RKSV. traded just last 2 days. I have couple of questions regarding your exposure and square off..

Margin Exposure(futures):-
I have been told that if i execute an order with MIS then only i will get 50% exposure if its NRML then it requires 100%

if i carry forward position to next day ( has too be changed NRML to carry) 100%. Next day morning after market opens still margin is 100% and i cant convert this overnight position to MIS. so you are not giving exposure Futures 50% on positions from day 2 onwards .. this is not good .

I have been told by your customer care executive that if i want to have exposure the funny suggestion was given tat i have to clear and then buy again in MIS section so that i will get exposure. who will bare all the STT.Clearing etc... charges

the way this works in ZERODHA..everyday overnight carry forward they need 100% margin but next day market open all these positions automatically converted to their regular intraday exposure.. YOU ARE CLEARLY LAG in this exposure front.

Also i have been told tat if i execute order with MIS and if I want convert this carry forward I need to manually change this order to NRML if not these potions will be squared of even if i have sufficient margin in my account . this is also not good . your system suppose to do all these stuff ...another basic LAG.. ZERODHA does automatically .

if i have money in my account it should allow to carry automatically if i want too.. if i don't want to carry i will close my position

please answer my queries

Thanks ,
Nextgen_trader
Hi Nextgen_trader,

The goal of our risk policies is that they are safe and clear to understand, and definitely not to make things more confusing. It was a deeply thought out decision on our part to opt for two product codes.

Bifurcating margin positions and carry forward positions was a choice to give our clients complete freedom as to which positions do and do not get automatically squared off by their broker. Let me give you an example.

Suppose we did not bifurcate margin positions and applied intraday margin rates up to 3:15 pm, and automatically switched over to 100% applicable margin at 3:15 pm. At 3:15 pm, assume that you are over-margin and need to have positions squared off.

It would be cumbersome for you to call us every time and tell us which positions to square off, and suppose this did not happen- how would we know which positions we should square off? We do not want to take subjective decisions -- it can lead to discrepancies.

This is why we opted to have two product codes- one for MIS, and one for NRML, each with their own applicable margin rates. If a product is in MIS, it will automatically get squared off; if it is in NRML, it will be carried forward. Separating MIS and CarryForward allows the user to know exactly which positions he's prepared to have squared off at 3:15 pm and which ones he is going to hold.

The ideal solution would be for NSE NOW to let the trader convert their carry forward positions to MIS the next day. However, this is not possible since converting carry forward positions is not possible on NSE NOW .

Sorry to hear that the risk policies are not to your liking. Our RMS team has standard policies across the board for all of our clients. Should you have any other questions, let us know.
 

Nextgen_trader

Well-Known Member
#3
Re: RKSV - Unlimited Online Trading @ 1947/-

Hi Nextgen_trader,

Sorry to hear that our RM policies won't fit your trading needs. On our FAQ (www.rksv.in/faq.php), we say that "Futures are allowed to trade on 50% of applicable (span plus exposure) margin. To carry forward the positions, the customer would need 100% of the applicable margin."

To help customers understand our RM policies better, we have also started uploading applicable margin rates (intraday and carry forward) on our dropbox site. This is there on every page of our website -- just click the box icon on the bottom right under the facebook icon.

Anyways, wish you the best of luck in your trading sir!
I do understand to carry forward 100% margin require. next day again it should be as per your 50% exposure for intrday until 3 and again opt for 100% margin.

no where mentioned this in your website...tat you don't give exposure 50% on T+1 positions future while trading intraday. you should have mentioned clearly tat you will be locked 100% margin from T+1 day onwards @ FUTURES even intraday

you are correct.. It doesn't simply suit my needs ..
 

Nextgen_trader

Well-Known Member
#4
Re: RKSV - Unlimited Online Trading @ 1947/-

I agree to certain extent it would be cumbersome.BUT, Not agreeing 100% as the above example of amine will create lots confusion to most of people like me .

RKSV Comment :-The ideal solution would be for NSE NOW to let the trader convert their carry forward positions to MIS the next day. However, this is not possible since converting carry forward positions is not possible on NSE NOW ..


This would defiantly impact these day because of busy life every one don't sit in front of terminal so you are expecting to give call every time to change it NRML and go for potions you have given no choice . you wont cover call n trade price in your regular fee. Is this your plan

in simple words you are correct... it doesn't suffice my needs
 
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#5
Re: RKSV - Unlimited Online Trading @ 1947/-

Hey guys,

We've upgraded our phone systems and now have two numbers. 022-6130-9999 works, along with a new number 022-2654-4100. Two different phone providers so, if for some reason, our primary number doesn't work for you, our second one should.

Additionally, we've added an IVR to help navigate you to the correct concerned person on the first ring.
 

Nextgen_trader

Well-Known Member
#6
Re: RKSV - Unlimited Online Trading @ 1947/-

I agree to certain extent it would be cumbersome.BUT, Not agreeing 100% as the above example of amine will create lots confusion to most of people like me .

RKSV Comment :-The ideal solution would be for NSE NOW to let the trader convert their carry forward positions to MIS the next day. However, this is not possible since converting carry forward positions is not possible on NSE NOW ..


This would defiantly impact these day because of busy life every one don't sit in front of terminal so you are expecting to give call every time to change it NRML and go for potions you have given no choice . you wont cover call n trade price in your regular fee. Is this your plan

in simple words you are correct... it doesn't suffice my needs
Hi RKSV,

I misread it as i was in hurry to office . sorry for tat ..and my earlier response was related to other concern that you don't allow MIS entries to carry forward AUTOMATICALLY as a positions even if i have sufficient funds in my account. Has to be changed to NRML from MIS. One has to depend on you @Call service if they don't have Terminal/Web access..


RKSV Comment :-The ideal solution would be for NSE NOW to let the trader convert their carry forward positions to MIS the next day. However, this is not possible since converting carry forward positions is not possible on NSE NOW ..



The question was here. If its NSE NOW issues .. how its working with ZERODHA in same NSENOW application. We get exposure intraday as market opens next day for T+1 future position automatically converted to intraday exposure. its something like 60% of the span margin...exactly i don't remember it

also folks i am not advertizing/promoting ZERODHA here . just comparing to finalize better options which suits for me!! as i can sit in-front of terminal until 1- 1:30 PM . No access to web app/terminal after 1:30. Has to depend on mobile@call.


Thx,
KP
 
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#7
Re: RKSV - Unlimited Online Trading @ 1947/-

Hi RKSV,

I misread it as i was in hurry to office . sorry for tat ..and my earlier response was related to other concern that you don't allow MIS entries to carry forward AUTOMATICALLY as a positions even if i have sufficient funds in my account. Has to be changed to NRML from MIS. One has to depend on you @Call service if they don't have Terminal/Web access..


RKSV Comment :-The ideal solution would be for NSE NOW to let the trader convert their carry forward positions to MIS the next day. However, this is not possible since converting carry forward positions is not possible on NSE NOW ..



The question was here. If its NSE NOW issues .. how its working with ZERODHA in same NSENOW application. We get exposure intraday as market opens next day for T+1 future position automatically converted to intraday exposure. its something like 60% of the span margin...exactly i don't remember it

also folks i am not advertizing/promoting ZERODHA here . just comparing to finalize better options which suits for me!!


Thx,
Nextgen_trader
Hi Nextgen_trader,

No issues, these are valid questions. NSE NOW allows the broker to change a product code's margin limits.

If we convert our client's NRML positions to 50% of span margin in the morning and then convert it back to 100% at 3:15 PM, the issue of which positions to square off (when the client is over margin after 50% to 100% conversion) still crops up.

As a broker, we don't want to convert your positions from intraday and back then square off positions because you are over margin.
 

Nextgen_trader

Well-Known Member
#8
Re: RKSV - Unlimited Online Trading @ 1947/-

Hi KP,

No issues, these are valid questions. NSE NOW allows the broker to change a product code's margin limits.

If we convert our client's NRML positions to 50% of span margin in the morning and then convert it back to 100% at 3:15 PM, the issue of which positions to square off (when the client is over margin after 50% to 100% conversion) still crops up.

As a broker, we don't want to convert your positions from intraday and back then square off positions because you are over margin.
i never traded with 100% exposure ... even if i do by mistake i close before 3:00 and will carry only the positions as per my margin. i usually carry positions based on my individual risk and margin i have..

if some don't close and auto closing positions by broker has to be subjective matter to the individuals.No Comments how they take it. IF YOU MENTION THIS IS STRICT RULE to check margin and close before 3: 00 pm all exposure positions or else auto close . Any one can understand It!!

people l like me don't decide every entry time to go for position or close intraday it self..
As having exposure should give more comfort to future traders @intraday prospective .... i am n't expecting these all intraday exposure positions to carry overnight without having sufficient margin. MUST to have Proper RISK Management..to manage Longer run..


as suggestion may be you need to re look into this exposure prospective .. then it will be good and can definitely WIN more clients...very good in the compositions prospective :lol: :lol: in the market .

Thx,
KP
 
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Nextgen_trader

Well-Known Member
#9
Re: RKSV - Unlimited Online Trading @ 1947/-

Hi RKSV,

Couple of question before i choose my suitable options.

As per your service. One has to convert MIS execute orders to Convert NRML orders to carry as positions.

I understand that F8(Trade book) is the short cut option to convert these entries (MIS/NRML) in the terminal.

Does NSE NOW mobile app(Android) has this feature to convert MIS orders to convert as NRML.

If yes wats the procedure to do it in NSE NOW mobile app.

If not wat are the other options only call service . if you change this through call service . do you charge for this as per your call n trade.

Thx,
Nextgen_trader
 
#10
Re: RKSV - Unlimited Online Trading @ 1947/-

Hi RKSV,

Couple of question before i choose my suitable options.

As per your service. One has to convert MIS execute orders to Convert NRML orders to carry as positions.

I understand that F8(Trade book) is the short cut option to convert these entries (MIS/NRML) in the terminal.

Does NSE NOW mobile app(Android) has this feature to convert MIS orders to convert as NRML.

If yes wats the procedure to do it in NSE NOW mobile app.

If not wat are the other options only call service . if you change this through call service . do you charge for this as per your call n trade.

Thx,
Nextgen_trader
Hi Nextgen_trader,

You can call us and do it. No charges. Only charge is call and trade at Rs. 25 per order.

For mobile, I believe the answer is no. Will suggest it to the NSE NOW team as something clients are asking for though.

Enjoy the weekend!
 

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