Upstox - RKSV - Trade in Rs 20 Max

[mohan.sic]

There are multiple connections between the trader and the exchange. Glitches happen. It's how they are dealt with that makes a difference to the customer.

But i am not referring to order routing nor order placement delay that happened.
Every Broker will have a real time risk monitoring system ... When 20 k margin account is showing 80 k loss, it should sound like a ambulance na....
My reference here is to the fault which falls purely under the ambit of a brokers risk management system.

 

[headstrong007]

But i am not referring to order routing nor order placement delay that happened.
Every Broker will have a real time risk monitoring system ... When 20 k margin account is showing 80 k loss, it should sound like a ambulance na....
My reference here is to the fault which falls purely under the ambit of a brokers risk management system.

That was my main point and it could be risky for all.

@TP, Actually Glitches happen. But how RMS deals such glitches actually makes a difference to the broker & customer. Beyond a certain limit of loss, broker can't able to refund the customers but brokers can go bankrupt!

What If the trading capital was 5cr and the loss 4 times = 20Cr? Or same things occurred in multiples big account together? Then few crores of cumulative refund would not be not so easy!

Brokers can go bankrupt for such BIG RMS mistake. Then there will be no value left for the whole hard work and the sincere effort for so many years to build a good brokerage business.

So, RKSV must be careful, identify and fix up the what actually goes wrong in the backend. Why system stopped monitoring MTM when both the target and stop executed(such things are rare but not uncommon, can happen again in the volatile market).
It's good that capital was only about 20k, not 20 Cr. It's good to learn from mistake too.

 

[Snake.Head]

There are multiple connections between the trader and the exchange. Glitches happen. It's how they are dealt with that makes a difference to the customer.

It not about Glitches...We where believing @RKSV Reply only when @headstrong007 point out RMS failure We got to know what was wrong and main reason for loss.
very special thanks to @headstrong007 to bring this notice.
I have been trading with RKSV for last 2 years till this April ,this kind of issue put serious risk for trader money.
Lately they don't listen to customer feedback + Delayed basic thing in trading platform,Which they have been promising since last 2 year
Repeated request from customer have gone unnoticed
That why i switch to fyers

 

[timepass]

Yes, we have seen that the machine glitches are compounded exponentially by human glitches. I think what happens is that someone does notice the glitch, sees the positions going wrong, but decides to either ignore it or pass it on to another person. Then the problem remains till EOD when the auto-square off team does the closing.

This is what happened with me with a different broker. That's what seems to have happened here.

I think what the brokers need is for the problem to be brought to the attention of a higher placed person right away. Apparently the problem is initially noticed and ignored by junior level employees who are as likely to get nervous as the customer, when looking at loss making errors.

 

[Contra]

@RKSV

Do you have any plans of reviving your forgotten subsidiary Trade Academy? That place is a virtual ghost town for the last several months.

People who have paid money for services aren't getting any response from TA support.

Example: https://talk.tradeacademy.in/t/no-support-from-tateam/591

If you don't intend to offer the promised services then it's just basic ethics not to collect payment in the first place.

 

[Snake.Head]

@RKSV

Do you have any plans of reviving your forgotten subsidiary Trade Academy? That place is a virtual ghost town for the last several months.

People who have paid money for services aren't getting any response from TA support.

Example: https://talk.tradeacademy.in/t/no-support-from-tateam/591

If you don't intend to offer the promised services then it's just basic ethics not to collect payment in the first place.

Guys who used host and those Class have already left RKSV and Now take class for SASonline webinars

 

[Contra]

Guys who used host and those Class have already left RKSV and Now take class for SASonline webinars

It seems like all the talent has left RKSV. Prateek Singh was a good & experienced instructor. I've attended a lot of his webinars last year via Trade Academy. Right now, the TA site has an abandoned feel.

 

[cloudTrader]

Hi RKSV ,

ITM CE position strike 24,600 Expiry 17th May 2018 is quoting at around 2376 at Offer price and the Bid is showing 2153 , so there is a spread of about 200 points. What should be done on the expiry day ? Should the position be left for exercise wherein STT is levied at higher rate or should I sell at the Bid today itself ?

I am unable to decide, would you please help me out to confirm that selling at bid would be better than paying STT or vice versa ?

Thanks.

 

[soft_trader]

Anyone facing problem placing orders today through NEST?
It is taking ages for the orders to go from open validation pending -> open
Changed from bharti to tata and it seems to get a little bit better. Still not instant though.

 

[timepass]

Anyone facing problem placing orders today through NEST?
It is taking ages for the orders to go from open validation pending -> open
Changed from bharti to tata and it seems to get a little bit better. Still not instant though.

Working ok with another broker.