TOTP for Illiquid Stocks- Why

[newtrader101]

Brokers are demanding TOTP for illiquid stocks and derivatives, saying its mandated by NSE.
Why? Since when did the authorities have so much concern for retail traders. They side with brokers on traders' grievances. They stopped the SL-M order. They banned retail traders from many instruments by reducing leverage.
This is just a ploy to not let traders on moving stocks.

 

[primitivetrader]

Brokers are demanding TOTP for illiquid stocks and derivatives, saying its mandated by NSE.
Why? Since when did the authorities have so much concern for retail traders. They side with brokers on traders' grievances. They stopped the SL-M order. They banned retail traders from many instruments by reducing leverage.
This is just a ploy to not let traders on moving stocks.

focus your energy/efforts/time on making profits in stock market there are more stocks in which you can make money than the above illiquid stocks.
broker did that, govt is doing that, sebi/nse is doing this its all manipulation. all are against retail trader et etc does not make money.
system is rigged and it will remain rigged till you and i will die and for more time. now choice is ours where to focus.

 

[newtrader101]

View attachment 48243

.....focus your energy/efforts/time on making profits ....
.......system is rigged and it will remain rigged till you and i will die...........
. now choice is ours where to focus.

Couldnt find the pranam smiley.
Wise words... some consolation to know people have realised this ...

 

[TracerBullet]

Brokers are demanding TOTP for illiquid stocks and derivatives, saying its mandated by NSE.
Why? Since when did the authorities have so much concern for retail traders. They side with brokers on traders' grievances. They stopped the SL-M order. They banned retail traders from many instruments by reducing leverage.
This is just a ploy to not let traders on moving stocks.

Its a good step. Illiquid stocks and options can and have been used to move money from compromised accounts.

 

[Romeo1998]

View attachment 48243

focus your energy/efforts/time on making profits in stock market there are more stocks in which you can make money than the above illiquid stocks.
broker did that, govt is doing that, sebi/nse is doing this its all manipulation. all are against retail trader et etc does not make money.
system is rigged and it will remain rigged till you and i will die and for more time. now choice is ours where to focus.

very true we must make the best use of the resources that we have if we keep complaining then there is a long list of things that we do not have and others have, instead we must be thankful for what we have been given so many other countries dont even have a stock exchange n have just 1-2 brokers who have very high charges
the best thing about the present time is education has almost become free for everyone, anyone with internet access can learn anything most people think hiring teachers will be helpful, but the amount of stress in learning with help of a teacher or on our own is almost same

 

[newtrader101]

Just to give an idea of what happened:
SIEMENS was very bearish at 2740 today morning. Its 2740 Sep PE option was at 30Rs lot 275. Couldn't buy because of above reason and app didn't accept totp repeatedly.

It went up to 45.
Profit lost=45-30=15
15x275=.4125

This has happened before also.

 

[TracerBullet]

Just to give an idea of what happened:
SIEMENS was very bearish at 2740 today morning. Its 2740 Sep PE option was at 30Rs lot 275. Couldn't buy because of above reason and app didn't accept totp repeatedly.

It went up to 45.
Profit lost=45-30=15
15x275=.4125

This has happened before also.

Try to complain to get totp issue fixed i guess, but stock options are known to be very illiquid - why do you trade them ?
Ability to execute is basic requirement for edge, can look at changing broker if needed. IB generally works stable, can consider them for options.

If unable to execute then edge is not tradable. Move to something else. A lot of my time when developing a system ends up in tweaking execution until it works ok

 

[newtrader101]

Try to complain to get totp issue fixed i guess, but stock options are known to be very illiquid - why do you trade them ?
Ability to execute is basic requirement for edge, can look at changing broker if needed. IB generally works stable, can consider them for options.

If unable to execute then edge is not tradable. Move to something else. A lot of my time when developing a system ends up in tweaking execution until it works ok

Thank you so much for the suggestion.

 

[newtrader101]

Another situation I'm in with a different broker. if you could suggest a way out:
Tried Axisdirect for sometime. However, their Ring application was misleading with its scanners and recommendations.
On a trade which gave a profit of 5% they took a brokerage of 2.5%, leaving nothing for me. On site they claim 0.5% brokerage.

The reason they're charging is I took the first year free DEMAT plan, paying only 499/- for ac opening. However, they now say its free only if I open an Axis bank ac, so probably they're trying to make up that loss. After I pointed out the 2.5% brokerage, they've deducted that amount from the amount they want me to pay for DEMAT.

Now should I continue to use their service, or complain to authority, or pay up and quit the broker?

 

[marimuthu13]

Another situation I'm in with a different broker. if you could suggest a way out:
Tried Axisdirect for sometime. However, their Ring application was misleading with its scanners and recommendations.
On a trade which gave a profit of 5% they took a brokerage of 2.5%, leaving nothing for me. On site they claim 0.5% brokerage.

The reason they're charging is I took the first year free DEMAT plan, paying only 499/- for ac opening. However, they now say its free only if I open an Axis bank ac, so probably they're trying to make up that loss. After I pointed out the 2.5% brokerage, they've deducted that amount from the amount they want me to pay for DEMAT.

Now should I continue to use their service, or complain to authority, or pay up and quit the broker?

Quit