Upstox - RKSV - Trade in Rs 20 Max

[rmji]

Hi,

I saw this post, and have faced a similar situation. But sometimes a curse is a boon.

There had been situations where I made a big loss in commodities. But then I can rest assured that the loss is limited to the amount present in the commodities account. The loss does not spill over to the equity account. The knowledge that the transfer can happen only the next day will keep me in check and prevent myself doing a counter trade (done in frustration) to make up the realized loss.

If you check my status, I had 50K in commodities account and 50K in equity account. But due to a very bad trade, my 50K in equity accounts got reduced to 0 and I had to infuse another 15K from my bank. Since I am limited to 15K, I play options only. And now it has become 29K, yes, in very slow intervals. But on the other hand, if I had that 50K from commodities account, I would have traded futures to make up the 50K loss of equity, and looking at the trend that followed, I would have lost that amount too.

So I would recommend that we not introduce something that will destroy the discipline that has been enforced because of the incapability of the brokerage firm, and become a disciplined trader indirectly. Please note the word "indirectly", it does not mean that most of the traders are indisciplined. I just want to highlight this discipline as an extra layer of discipline over the discipline that you already have. Thanks for understanding.

Instead of recommending not to introduce something which could be of convenience to many other traders your purpose of keeping MCX-NSE funds separate could be easily achieved.

There are two ways to achieve that...

* Keep MCX and NSE accounts at two different brokers or

* If you want both accounts at RKSV then you can keep both at RKSV but under different family names.

After reading your story, i thought let me put my piece of advice which might be of some help to you.
You said you had put 50k in NSE and lost all.
To trade in options is to play with fire. Knowing that, I too trade in options at RKSV . But I have my own rules of trading and one of them is never play in options with 100% of funds. I play with max 10% of my total funds and to keep track of this daily at 3.25pm i check Margin/Amount uitilized against total Cash available in RMS in NEST. Because i strongly believe all options that we buy are sold by FII's and their main objective is to make it zero. So by hook or crook and ignoring all news events FII will keep market at such levels where retailers options becomes zero.

Leverage is the thing that wipes out account completely. The safest way to play is to trade in equity cash without leverage.

 

[SexyTrader]

We can't do it from our side :-/

SEBI / FMC laws require us to hold two separate accounts. Can't transfer funds from one account to another -- that's illegal. Sorry boss.

Why would anyone in their right mind suggest mixing the funds of MCX & NSE/BSE ?

They should be seperate accounts just the way it is ! :thumb:

Also commodity trading is not the same as stock trading, so why mix funds ?

Dont make mistakes funding your respective accounts, all is fine You cannot blame the broker for that :lol:

 

[trade4putuval]

Instead of recommending not to introduce something which could be of convenience to many other traders your purpose of keeping MCX-NSE funds separate could be easily achieved.

There are two ways to achieve that...

* Keep MCX and NSE accounts at two different brokers or

* If you want both accounts at RKSV then you can keep both at RKSV but under different family names.

After reading your story, i thought let me put my piece of advice which might be of some help to you.
You said you had put 50k in NSE and lost all.
To trade in options is to play with fire. Knowing that, I too trade in options at RKSV . But I have my own rules of trading and one of them is never play in options with 100% of funds. I play with max 10% of my total funds and to keep track of this daily at 3.25pm i check Margin/Amount uitilized against total Cash available in RMS in NEST. Because i strongly believe all options that we buy are sold by FII's and their main objective is to make it zero. So by hook or crook and ignoring all news events FII will keep market at such levels where retailers options becomes zero.

Leverage is the thing that wipes out account completely. The safest way to play is to trade in equity cash without leverage.

Thanks for the redundant advice.
Perhaps it is important you see the right message instead of deviating from the subject under discussion.

By the way, where did you get the notion that I traded in options and lost the money. :rofl:

 

[rmji]

Perhaps it is important you see the right message instead of deviating from the subject under discussion.

The first part of my post is on the subject for people who wants to keep funds separate and it ends there with the solution.

By the way, where did you get the notion that I traded in options and lost the money. :rofl:

If you read it again....I never said you lost money in options. It says "You had put 50k in NSE and lost all":!.
After that is the piece of advice that might help you and others as you trade in options.

 

[rmji]

Why would anyone in their right mind suggest mixing the funds of MCX & NSE/BSE ?

To have single ledger... http://www.traderji.com/brokers-tra...-online-trading-part-2-a-256.html#post1087503

One of the purpose to keep separate funds is not to have spillover effect on another exchange if one exchange goes bust.
By the way, NSE and BSE are two different exchanges. If we go by the rule their fund should be separate too.

Also commodity trading is not the same as stock trading, so why mix funds ?

Also Currency trading is not same as stock trading, so why mix funds ?
eg: BSE equity funds are mixed with NSE currency funds. :rofl:

 

[trade4putuval]

After that is the piece of advice that might help you and others as you trade in options.

FYI, i trade in futures, but since my account balance is below 15K, I can trade only in options, and hence trading in options.

Besides, I have been trading since the past 10 years, and have learnt lot of things than what you have mentioned about FII. If we think about what FII and the other big bosses do, then we will never be able to trade in the stock market. We all have our own style of working in this market.

I rest my case here because this is an RKSV thread and we are entering into a debate that can be endless. Good week ahead!

 

[test123]

rksv said no means no they don;t ....
they will tell u bla bla rules like they are gandhi and have to maintain 2 sepearte account
But when there is debit in MCx and u place nse withdrawal they will not transfer your money Treating it as same account .
thats how it is ^^^

either way i am fed but with this broker soon i am change may be will goto zerodha or may be new broker

I am just waiting for rksv to make One more server down error the day they do it ( soon they will) I m done will move to another broker

 

[franz.kafka]

..........

 

[sumantra]

rksv said no means no they don;t ....
they will tell u bla bla rules like they are gandhi and have to maintain 2 sepearte account
But when there is debit in MCx and u place nse withdrawal they will not transfer your money Treating it as same account .
thats how it is ^^^

either way i am fed but with this broker soon i am change may be will goto zerodha or may be new broker

I am just waiting for rksv to make One more server down error the day they do it ( soon they will) I m done will move to another broker

RKSV is not giving the profit/loss report appropriately. there are several discrepancy in the report. Reported it to them several times, but of no solution.

 

[SexyTrader]

There is a saying " If one does not know how to dance, the ground appears curved/crooked for dancing to that one" :lol: Never mind the "dance" was bad to start with