Trade Smart Online

[timepass]

Hello timepass,
There was a technical issue and was resolved within 5 mins.

Technical issue on EXPIRY day !!!.. Within 5 min it was down to 33.....anyway, thanks.

 

[lvgandhi]

Hello lvgandhi,
It seems you placed 3 basket orders:
1. One at 9:12am. This got rejected as the market had not opened

2. One basket order during the market. This was to square off the july position and create a fresh August position.

In case of a basket order the individual order first goes through the RMS and only if it goes through, it goes as a live order to the exchange. So your August contract order got rejected due to lack of margin as it was to create a fresh position. However, the July contract passed the RMS and went to the exchange and got executed.

3. Another basket order during the market itself. This was to create the August position and to also square off the July position (which had already been squared off).

Since the July position was already squared off margin was not available. Hence the August order got executed. Since a position was already there in August series, your July order got rejected this time. The orders will be sent to RMS in the same order in which you enter them in the basket. In this case the August order must have been entered before the July order so the new position was created in August series and not in July.

When using a basket order, it'd be advisable to check the status of each order in the order window.

First two are OK.
First order placed placed before market opens ensures not entering password before placing further orders. It was not basket order.
Second one was basket order. Here it was first rejected as most probably it first saw AUG series. My request is software should analyse all orders in basket before rejecting the basket order as a whole. However the same order was executed afterwards. This I came to know by seeing order and trade timings. Hence my subsequent order was rejected.

 

[binarytrade1]

You should know binary options trading strategy automatedbinaryoptions.co/?p=16

 

[lvgandhi]

We looked into the log again and realized due to some confusion our earlier post is not relevant. Please ignore the same.

Below is a condensed version of the log. Please refer to it.

7/24/2013 9:12 BANKNIFTY13JULFUT SELL rejected 16278 : The markets have not been opened for trading
7/24/2013 9:29 BANKNIFTY13JULFUT SELL complete NA
7/24/2013 9:29 BANKNIFTY13AUGFUT SELL complete NA
7/24/2013 9:30 BANKNIFTY13AUGFUT SELL rejected RMS:Margin Exceeds
7/24/2013 9:31 BANKNIFTY13JULFUT SELL rejected RMS:Margin Exceeds
7/24/2013 9:32 BANKNIFTY13AUGFUT SELL rejected RMS:Margin Exceeds

From this log it seems that your basket order at 9:29 got completely executed and was not rejected. If you have a screenshot saying it got rejected please share it with us and we'll talk to NOW about it.

Thanks for the effort. I don't have screenshot. I got msg it was rejected. That is why I placed orders at 9:30,31 and 32. Then I checked trade book as I said earlier and found order was executed at 29 itself. If I did not get orders rejected at 9:29, I would not have placed later orders.

 

[Trader J]

Thanks for the effort. I don't have screenshot. I got msg it was rejected. That is why I placed orders at 9:30,31 and 32. Then I checked trade book as I said earlier and found order was executed at 29 itself. If I did not get orders rejected at 9:29, I would not have placed later orders.

As I know, Basket order will put order in sequence one by one, so there is chances for except some order and will reject other orders, for example if you have 5 orders in one basket, may be 2 except and 3 reject as per margin limit.

 

[IRH]

Hi,

do you provide a installation based trading platform like ODIN with all the technical analysis tools? Do you charge for it?

Also can I operate multiple accounts through a single ID from this platform? I have completed NSE capital and derivatives markets dealer modules.

Thanks and regards.

 

[eastern]

Hi TSO, I am new to trading. I want to open an account with you. I would be trading in F&O actively. As it is a business do I need to have a current account or normal savings account would do. As I would be transffering funds few times to & from the trading account every week the number of transactions in the bank account will go up. Will there be any problem with this as in the Terms-n-conditions of every bank it is mentioned that :

"Disclaimer on Misuse of Savings Account Product: The Savings Bank Account is essentially an account to
build up savings and should be used to route transactions of only non-business/non-commercial nature. It should
not be used as a Current Account. If the Bank at any stage finds that the Savings Bank Account is being used
either for the purpose for which it is not allowed or for the purpose of routing transactions which are dubious or
undesirable, the Bank reserves the right to close such Savings Bank Account."

So what you would recomment? Savings or current account.

 

[TradeSmartOnline]

Hi,

do you provide a installation based trading platform like ODIN with all the technical analysis tools? Do you charge for it?

Also can I operate multiple accounts through a single ID from this platform? I have completed NSE capital and derivatives markets dealer modules.

Thanks and regards.

Hello IRH,
Sorry for the delayed reply. There was some issue with our userid and had to get it resolved with Traderji. Now it is working so here we are.

Yes, we do provide an installation based trading platform like Odin. It is called NOW and is provided by NSE. It has technical analysis tools too. Please fill in your details on our website tradesmartonline.in and we can provide you a demo id.

Sure. We can provide you with multiple accounts through single id in this case.

 

[TradeSmartOnline]

Hi TSO, I am new to trading. I want to open an account with you. I would be trading in F&O actively. As it is a business do I need to have a current account or normal savings account would do. As I would be transffering funds few times to & from the trading account every week the number of transactions in the bank account will go up. Will there be any problem with this as in the Terms-n-conditions of every bank it is mentioned that :

"Disclaimer on Misuse of Savings Account Product: The Savings Bank Account is essentially an account to
build up savings and should be used to route transactions of only non-business/non-commercial nature. It should
not be used as a Current Account. If the Bank at any stage finds that the Savings Bank Account is being used
either for the purpose for which it is not allowed or for the purpose of routing transactions which are dubious or
undesirable, the Bank reserves the right to close such Savings Bank Account."

So what you would recomment? Savings or current account.

Hello eastern,
Just a word of caution. Since you are new to trading, our suggestion would be not to directly jump to F&O. With F&O profits as well as losses both could be bigger.

People trade even with savings account. Under normal circumstances, the number of transfers from your bank do not need to be very high. However, if you still anticipate a higher number of transactions, better go for a current account.

 

[eastern]

Hello eastern,
Just a word of caution. Since you are new to trading, our suggestion would be not to directly jump to F&O. With F&O profits as well as losses both could be bigger.

People trade even with savings account. Under normal circumstances, the number of transfers from your bank do not need to be very high. However, if you still anticipate a higher number of transactions, better go for a current account.

Thanks for your advice. I am anticipating high value transactions frequently, so I am thinking of current account.

Another thing, is a trade license mandatory to open individual current account? Because a PSU bank where I enquired asked for it. Do I need to opt for a trade license to trade in stock market as a business?