FYERS

[bpr]

It's not brokers but Day Traders who want compulsory square off for the intraday position. Pls think of other traders requirement too.

Many time when a trade goes on our favour, we like to keep that trade inside the system unattended with a stop loss and target order until the compulsory square off. We may leave the terminal or start trading other scripts. Compulsory sqaure off give day traders independence.


But, I understand ur requirement. The idea of not blocking full margin initially(in market time) for NRML by default is good.
Simply if we SELECT NRML then the system can block only MIS margin during the market hour and near closing the system will keep that NRML position for overnight[NRML] if there is sufficient margin.

&&&&&&
Now a days few brokers increased Intraday Square off time. Finvasia already has 3:25PM square off time.
There is a huge competition between brokers, even 10-15 mins extra can give the edge. Eventually, more brokers might increase the square off time.

ok think about it what if the broker mis square off system goes bad ...
what happens then ?? all positions say goes overnight
Everybody will blame the broker ?? broker will be on the hook ? why broker take such risk ??

 

[headstrong007]

ok think about it what if the broker mis square off system goes bad ...
what happens then ?? all positions say goes overnight
Everybody will blame the broker ?? broker will be on the hook ? why broker take such risk ??

No problem, that is part of the game. Tech glitch also happens. 4-5 such days per year doesn't matter.
Building wealth in trading is brick by brick strategy. Most traders are not taking too much risk in a single trade.
We also put the intraday partial target in the system at the different levels, so when a trending move goes near the end usually position size automatically reduces. Also, there are partial stop losses, so some stop hit near the end of the market. Position size already reduced automatically near the day's end. We know how to cut the risk in case system goes bad.

We traders need to take that risk. Similarly, the brokers also need to take the business risk. The market is risky.

I don't think any broker will dare to discard INTRADAY(auto square off) product. They will lose a large number of day traders like us. This is even riskier for them.
And most of the brokers are making side income for auto square off trades, charging call and trade also. They are making a good amount of money.

 

[Newbie Day-Trader]

Maybe brokers prefer auto-squareoff because it is their regulatory responsibility to ensure that they take in adequate overnight margins from the clients, which is why they'd want to avoid instances of clients leaving their positions open without adequate margins; not to mention, in case of a big gap in price the next morning, it might entail too much effort to recover shortfalls from the clients, & maybe that's why, brokers prefer to avoid that situation, to the extent possible. Just my two cents. I'm sure @Tejas Khoday will shed more light on the issue soon enough.

 

[afin]

Hey @Tejas Khoday I was checking the product out. I am very glad that you and your team had worked on the idea pitched! For a customer thats the best thing that could happen.

Other thing I want to point to you or rather seek clarification from is this: I was checking out the CO Nifty option product and observedthat the SL is in a trigger zone is in the range of just 5% - for both CE & PE. Is this a glitch or is the trigger zone set so low? 5% as SL for an index option CE/ PE is too low IMO. You might want to revisit that.

 

[Square]

This is your first post in the forum. Interesting.

"Somebody" at work. And we know who is that somebody.

 

[Tejas Khoday]

That's great news !!

1) What is that point no. 4 ?? Equity - <16x .. Couldn't understand it.

2) Will there be some message if there is a change in the leverage ? (SMS/ Terminal notification/ Mail)

Hello @timepass,

1. For intraday equity trades, the leverage will be up to 16x.

2. Yes, we did. Also wrote a blog regarding this. You can read it here.

 

[Tejas Khoday]

And option to link trade stop loss and profit target in single window Even if it without benefit of BO/CO Margin @Tejas Khoday

We are currently working on Bracket Orders. Last Saturday, we participated in NSE's mock environment to test the orders. We are not testing it in live markets and will soon invite beta users too.

 

[timepass]

Hello @timepass,

1. For intraday equity trades, the leverage will be up to 16x.

2. Yes, we did. Also wrote a blog regarding this. You can read it here.

1. I guess that's for MIS. Any change in the leverage for CO/BO ?

 

[Tejas Khoday]

But at present it would tie up the margin equal to 3 MIS orders.

@timepass, nope. It will only take up margins for 2 orders as mentioned below:

1. Leg 1 - Buy/Sell Trade (Margins blocked).
2. Leg 2 - Target/SL order (No additional margins blocked).
3. Leg 3 - Target/SL order (Margins blocked).

 

[Tejas Khoday]

1. I guess that's for MIS. Any change in the leverage for CO/BO ?

Our Cover Order leverage is already on the higher side when compared to the larger players.