Upstox margin slips to -40k on an intraday position.

[VJAY]

Many are coming into trading for making big money ...first start with equity and some one advice him to go with futures as it only need 1lac for taking position of 8lac ...its ahh for him ...jump into future without knowing its basic things ...I interacted many guys who lost many lacs in it they only come to me after loss happens....before that they no need any advices... Last week one of my friends friend came to me (newbie in trading) I explained him about what not to do in trading I never said him how big we can make from trading...I explained him only about MM and position sizing with many concrete evedences...after he left ...some days later my friend told me that he said I not know anything in trading

Anyway now exchanges make strict on margins which good for newbies ...they not get into it without knowing basics..

 

[FnOtrader80]

Update: Have cleared my negatives which, No BS, wiped my savings. Closing my account with them.

Great you cleared your dues , which was right thing to do morally. Please don't lose heart or morale, consider this loss as learning fees which we all have to pay to the market God. All the best for you next innings.

 

[Newbie Day-Trader]

Update: Have cleared my negatives which, No BS, wiped my savings. Closing my account with them.

Why? Did they threaten you with legal action?

 

[VJAY]

Why? Did they threaten you with legal action?

Legally they can't win ...as far as without clear margin they not maintain its their fault.they need to keep special margin for trading future in these type of circute scrips ...when there is no margin its against margin policy of exhange.....yes legal things go on ...never ends

 

[Newbie Day-Trader]

Legally they can't win ...as far as without clear margin they not maintain its their fault.they need to keep special margin for trading future in these type of circute scrips ...when there is no margin its against margin policy of exhange.....yes legal things go on ...never ends

I hope you're right but I thought that traders are legally liable to pay back negative balances; nonetheless, I'm not sure if most brokers will pursue legal action because the cost of legal fees to lawyers could easily exceed the dues, unless the dues are running into many lacs or crores; not to mention, it gives a bad reputation to the broker & traders would be less likely to want to trade with them.

 

[stoch]

Anybody traded with Hotforex and know by real experience that they offer negative balance protection (NBP feature)?

 

[lemondew]

People are often excited about trading but When you tell someone to book a lot of losses and once you are on profit hold on to it and not book it early people loose interest. People want winning formula not interested in loosing streaks.

Many are coming into trading for making big money ...first start with equity and some one advice him to go with futures as it only need 1lac for taking position of 8lac ...its ahh for him ...jump into future without knowing its basic things ...I interacted many guys who lost many lacs in it they only come to me after loss happens....before that they no need any advices... Last week one of my friends friend came to me (newbie in trading) I explained him about what not to do in trading I never said him how big we can make from trading...I explained him only about MM and position sizing with many concrete evedences...after he left ...some days later my friend told me that he said I not know anything in trading

Anyway now exchanges make strict on margins which good for newbies ...they not get into it without knowing basics..

 

[TraderRavi]

why people giving lectures on not to trade in futures when the trade in question is in equity.

 

[TraderRavi]

I am not anybody related to upstox and also not having account with them. I opinion is in favor of upstox rms. I I observed the chart of rcom on that particular day. And noticed that it was locked at UC for quiet about 15 min at 12.05 Rs price. But at that time your loss would be around 220000 so rms did not throw an order. When UC open price jumped and your loss reached more than 32000 so rms throwed a square off order which executed at the said price. Here main culprit is position size and volatility.

he shorted 40k shares @ 11.60 . squared off at 13.30 , loss around 66k. from where do you getting loss of 2.20 lakhs ? may be you want to say 22k.

 

[VJAY]

he shorted 40k shares @ 11.60 . squared off at 13.30 , loss around 66k. from where do you getting loss of 2.20 lakhs ? may be you want to say 22k.

Thanks Ravi bhai.....now only I seen as its equity....its short trade thats why all including me jumped to giving lectures ...any way may be our lectures help some who looking jump into f&o