General Trading Chat

[cloudTrader]

I have to second this. I have been trying to analyze my past trades and what I have observed is that many a times the prices at which orders are executed (especially SL-M exit orders ) are strange. To elaborate, I do not find these prices on either my datafeed or broker platform at the time of execution. I am using Fyers btw. havent used Zerodha in a long time

Recently I was in a trade through Upstox. I had written far OTM CE in Banknifty Weekly Options. I was relaxing as the position was in a nice profit. Suddenly with a minor move in the spot, this CE hit the Stop loss inspite of the fact that the CE stop was almost 30 points away and there seemed to be almost no chance of such a move. Even Gamma spike could not have managed to hit that stop but it happened. I was really shocked with the speed at which it happened and then within few seconds of my position getting squared off at a loss , the price of the CE was back where it was a couple of minutes back. Several orders were hit within matter of seconds. I was watching the snap quote window and it seemed as if this particular strike had a nasty move. I really am skeptic of how things are working, something is not good.

 

[augubhai]

I have been seeing a lot of issues being reported about the glitches in discount broker softwares including Zerodha and Upstox. Even without these glitches, just planning and executing trades can be stressful. So are traders going for unreliable or experimental softwares put up by brokers?

Find a reliable configuration of trading software/datafeed/internet that can be used to execute your trades, even if the softwares do not have any fancy bells and whistles. If you do have to try out some new softwares, do it in a way that glitches do not impact your bread and butter trades.

I use only Upstox Nest for trade entries, and I find it to be comparatively stable, though glitches do occur. I do use the Upstox mobile app, but only for trailing stops when I am away from the terminal. I do not use any of their other new/fancy trading tools. For data feed, I use GDFL, though I am not too happy with it. I run the Nest (and browse) on one laptop, and datafeed and charts on a different laptop. In case there are issues with GDFL, then I take the data from Nest VWAP Statistics. I do not use NestPlus. I have a backup net connection, in case one connection fails. I have been using this setup/configuration for many months now, and am happy with it... Peace of mind so far. Glitches, when they occur, are minor or manageable.

I am not canvassing for any particular broker. In fact, just on Friday morning, I was unable to log into Upstox Nest, with a message saying that it was under maintenance. There was no support forthcoming, and I had to figure out the solution on my own. Also, yesterday MIS positions were squared off at 3 PM itself. Though Upstox sent out an SMS in advance about this, this definitely affected my trading plan. Still, though I want the setup to be totally glitch free, I think that my current setup has reduced the stress caused by glitches. Seeing all the issues being reported, I thought that I should share my experience.

 

[onequorauser]

Recently I was in a trade through Upstox. I had written far OTM CE in Banknifty Weekly Options. I was relaxing as the position was in a nice profit. Suddenly with a minor move in the spot, this CE hit the Stop loss inspite of the fact that the CE stop was almost 30 points away and there seemed to be almost no chance of such a move. Even Gamma spike could not have managed to hit that stop but it happened. I was really shocked with the speed at which it happened and then within few seconds of my position getting squared off at a loss , the price of the CE was back where it was a couple of minutes back. Several orders were hit within matter of seconds. I was watching the snap quote window and it seemed as if this particular strike had a nasty move. I really am skeptic of how things are working, something is not good.

SO did the price actually reach the price at which your order was traded? What I am trying to say is that the price on their own platform had not reached the price at which it was actually traded.

 

[onequorauser]

I have been seeing a lot of issues being reported about the glitches in discount broker softwares including Zerodha and Upstox. Even without these glitches, just planning and executing trades can be stressful. So are traders going for unreliable or experimental softwares put up by brokers?

Find a reliable configuration of trading software/datafeed/internet that can be used to execute your trades, even if the softwares do not have any fancy bells and whistles. If you do have to try out some new softwares, do it in a way that glitches do not impact your bread and butter trades.

I use only Upstox Nest for trade entries, and I find it to be comparatively stable, though glitches do occur. I do use the Upstox mobile app, but only for trailing stops when I am away from the terminal. I do not use any of their other new/fancy trading tools. For data feed, I use GDFL, though I am not too happy with it. I run the Nest (and browse) on one laptop, and datafeed and charts on a different laptop. In case there are issues with GDFL, then I take the data from Nest VWAP Statistics. I do not use NestPlus. I have a backup net connection, in case one connection fails. I have been using this setup/configuration for many months now, and am happy with it... Peace of mind so far. Glitches, when they occur, are minor or manageable.

I am not canvassing for any particular broker. In fact, just on Friday morning, I was unable to log into Upstox Nest, with a message saying that it was under maintenance. There was no support forthcoming, and I had to figure out the solution on my own. Also, yesterday MIS positions were squared off at 3 PM itself. Though Upstox sent out an SMS in advance about this, this definitely affected my trading plan. Still, though I want the setup to be totally glitch free, I think that my current setup has reduced the stress caused by glitches. Seeing all the issues being reported, I thought that I should share my experience.

I agree with you partly. The thing is I prefer trading off the trading view platform that fyers has becuase it is pretty visual and moving stops, entering breakouts etc becomes easier compared to seeing it on a datafeed and entering the orders manually.

I do use Truedata for filters and scans but trading off a visual platform is much easier. I do use NEST from finvasia and have -so far-found no complaints but it is a question of ease. Also while trading wild momentum, shifting becomes much easier on a visual platform as you are only moving it to the next pivot without worrying about the price at that spot. This is especially true in options

I would really like to see these guys pull up their socks and get their act in order.

 

[travi]

SO did the price actually reach the price at which your order was traded? What I am trying to say is that the price on their own platform had not reached the price at which it was actually traded.

Referring to this post and the one before, you have to understand that there are around 200 ticks generated on NSE servers and in the best case official vendor can source only 2. In most feeds you get only 1 tick per second. This was mentioned in one of the webinars by Truedata.

Another point is the orders are queued in the Exchanges servers, the broker has nothing to do once the order is passed to the exchange.

Slippage incase of Mkt orders is very common, the magnitude depends on how liquid that instrument is "at that moment" and how far its queued.
Now what happens in 200 ticks/sec is what you will either have to trust or knock at their doors

 

[vikas2131]

I agree with you partly. The thing is I prefer trading off the trading view platform that fyers has becuase it is pretty visual and moving stops, entering breakouts etc becomes easier compared to seeing it on a datafeed and entering the orders manually.

I do use Truedata for filters and scans but trading off a visual platform is much easier. I do use NEST from finvasia and have -so far-found no complaints but it is a question of ease. Also while trading wild momentum, shifting becomes much easier on a visual platform as you are only moving it to the next pivot without worrying about the price at that spot. This is especially true in options

I would really like to see these guys pull up their socks and get their act in order.

Substantial investment will be required if they want to improve their services and they have shown no willingness to do so until now

 

[onequorauser]

Referring to this post and the one before, you have to understand that there are around 200 ticks generated on NSE servers and in the best case official vendor can source only 2. In most feeds you get only 1 tick per second. This was mentioned in one of the webinars by Truedata.

Another point is the orders are queued in the Exchanges servers, the broker has nothing to do once the order is passed to the exchange.

Slippage incase of Mkt orders is very common, the magnitude depends on how liquid that instrument is "at that moment" and how far its queued.
Now what happens in 200 ticks/sec is what you will either have to trust or knock at their doors

I understand what you are saying but the price should eventually reflect the candle. Even if every tick is not, at least the OHLC should. I am saying that the price at which some of my orders were executed was outside the range of the candles

 

[deba72]

Recently I was in a trade through Upstox. I had written far OTM CE in Banknifty Weekly Options. I was relaxing as the position was in a nice profit. Suddenly with a minor move in the spot, this CE hit the Stop loss inspite of the fact that the CE stop was almost 30 points away and there seemed to be almost no chance of such a move. Even Gamma spike could not have managed to hit that stop but it happened. I was really shocked with the speed at which it happened and then within few seconds of my position getting squared off at a loss , the price of the CE was back where it was a couple of minutes back. Several orders were hit within matter of seconds. I was watching the snap quote window and it seemed as if this particular strike had a nasty move. I really am skeptic of how things are working, something is not good.

Please read my story here http://www.traderji.com/community/t...f-currency-orders-in-nse.106655/#post-1294331

 

[nikhil_chinapa2]

Any one using ZERODHA Sensibull for options trading , any comments or review welcome ?

 

[cloudTrader]

SO did the price actually reach the price at which your order was traded? What I am trying to say is that the price on their own platform had not reached the price at which it was actually traded.

I did't see my stop loss price on the Terminal & in the snap quote window but my stop loss got triggered. When I was seeing price as 18 of CE on terminal , I got msg of my stop loss hit at the price of 32. At that point in Banknifty spot there was no spike whatsoever.