Sharekhan Trade Tiger .. beware of TRAPS

Discussion in 'Investors Grievances' started by s^3, May 30, 2009.

  1. s^3

    s^3 New Member

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    Sharekhan has provided Trade Tiger as a front end to monitor and trade in stocks.
    It is a very good and useful tool; but .....

    Yes, there are certain traps wherein the user can fall prey and loose money when Sharekhan auctions your stocks saying that you have short-sold the stock.

    Use this thread to publish the TRAPS that you have noticed so that the other forum users will not be sitting duck targets.


    ======================

    I have come across the following :

    1. You buy ( say ) 100 instruments of Stock Options today

    2. Tomorrow you buy 50 instruments of the same.
    So you have 150 with you.

    3. Now tomorrow you sell 150 instruments. Balance left with you is nil.

    4. Try to find the shares available with you after that transaction using FNO reports/Turnover and click the + mark on left to open sub-view.

    You will find the following :

    Instruments BOUGHT = 50
    Instruments SOLD = -150
    Instruments in BALANCE withyou = 100

    5. The system will even allow you to SELL those 100 'virtual' instruments.

    When you are in tension you will sell those 100 instruments and .. YOU ARE TRAPPED.

    Sharekhan will say that you have short-sold 100 instruments and they will auction your holdings. If by chance the stock appreciates by the auction time then you are in soup.

    ( My wife sold such virtual 50 stock options at 160 Rs each at 3:29 PM last Friday [ Where is time to settle the account? ] .. next day ( Monday ) the circuit breakers occurred and same stock rose to 760 Rs. Sharekhan has sold ALL her stocks worth 90000 and are demanding another 10000 Rs. No one answers the querry saying that 'the case is not handled at my level'. )

    I know that they will sue my wife for 10000 extra amount and we will have to fight out a long legal battle ...

    BUT.. Who is responsible for this wrong signal given by the Sharekhan Software.

    That is why I feel that they have introduced several such TRAPS in thaeir softawre and if you have fallen prey to them please PLEASE post such instances here.

    ===========
    S^3
     
  2. s^3

    s^3 New Member

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    Sharekhan appears to have now modified the Trade Tiger software.

    Whenever an order is placed, it displays the order status ( whether it is normal order or otherwise ) before the order goes to Exchange.
     
  3. g_venkatramesh

    g_venkatramesh New Member

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    I am using share khan Trader Tiger for the past 1 year, i never faced these kind of problem, its absolutely working well.:)
     
  4. sureshnk

    sureshnk New Member

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    I am confused. If it is the stock then it is delivery trade. It can't be sold next day unless BTST. If it is options, system won't allow to shortsell unless there is sufficient margin money for the contract.
     
  5. jkjauhari

    jkjauhari New Member

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    I registered with sharekhan about two yrs back. Local rep refused to give signed contract stating that this is against their procedures? when i threatened, their HO sent the contract. Sensing the dubvious intentions, i de3cidec to forego the regn amount of Rs 6K and informrd them (Repeatedly). I contonue to get unwanted advice and bills despite my informig them.
     
  6. senthiltvr

    senthiltvr New Member

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    Hi

    I am new to trading please help me

    I am using sharekhan Trade Tiger software. I have some doubts

    1. Trade tiger Version 1..... or Version 2... whcih is best ?

    2. Can I put Stoploss in Trade tiger if yes how explain with example ?

    3. What is disclosed quantity ?

    4. what is triger price ?
     

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