upstox stole my 20,000

#81
i had placed bracket order buy quantity of 3000 for pc jeweler on 4/5/2018
@ 9.30 am I didn't do anything manually after my order was placed.

And all my order was executed and completed before 12 pm but position book was stil showing pcjweler trade and mtm in negative balance.

and it was showing that i sold 5300 around quantities. First i placed 3000 buy quantity only so how can i sell 5300 quantity ? and second in bracket order i can not manually buy or sell any quantity while the order is placed.

And even if my stop loss was partially triggered, I should gain profit not lose bcause pcjweler went upto 40% on friday, it didn't come down.

and even if it was mistake that i placed a sell order, i didn't have an option to square off the position because it said " there is no open order"
and at the end of the day it was showing me loss of -76000
how can i lose more than what i have in my fund ?? i only had 20000 rupees.

I called customer care and email team several times but nobody is solving my problem. They say that I need to add 76000 rs in order to start trading.
Please help me where I can complaint against it and get my money back or else I would have to quit trading

If they can wipe out my 20000 capital today then can wipe out 2000000 tomorrow, so there is point in trading

I think you should be alert from the next time and switch your account to some good stockbroker who gives reliable trading platforms.
 
#82
I think you should be alert from the next time and switch your account to some good stockbroker who gives reliable trading platforms.
Every broker is reliable till an issue happens.
 
#83
It happened to me with zerodha. I placed sell order to minimize my loss but order can't be seen, so thinking that still my order was not reached again placed an order to close my loss making position, but after some time I will see a fresh sell order executed. In MCX I lost money in this way. Finally on that day I called help line to make sure I don't have any open position and got a relief. So I totally stopped trading in MCX. In Zerodha or any discount broker one should be very careful because of their inability maintain proper hardware and other infrastructure to cope with the demand.
 
#86
upstox representative called me and told me the technicalities behind why i suffered such huge loss. As stated by him, Due to huge volatility in pc jeweler, both my stop loss and target were triggered together ??? ( which is complete opposite of what OCO means ) that's why i had that extra 3000 quantity in sell position. But I still should get an option to manually square it off in order book which wasn't there, leading me to such huge loss. He said they will get back with me in 24 hours for final solution of what will happen with my fund.

I am a beginner in stock market. And i have survived in stock market for 5 months without any huge losses and this is very demotivating to see that I might lose 20,000 capital when it's not even my fault. I didn't come in to stock market hoping I will get rich in one night. I have been using strict stop loss since day 1 and I am very serious about making a career in stock market. People might have lost lakhs and crores in stock market but I belong from a middle class family and 20,000 is a big capital for me. So i hope they help me or I would have to quit stock market. Tbh I have faced more technical glitches and issues than any wins or losses since I started trading.

Good to see your problem got resolved.If you don't quit the stock market, don't trade like a moron .Don't use 1 min chart or those fancy order types for getting excessive leverage. With 3000 shares even with 0.5rs slippage in stoploss will hurt you big for yor account size. If you can't trade with 3x-5x Ieverage then you shouldn't be trading. I was in the PCJ trade on that day and the kind of volatility the stock had ,the stoploss was at least10 rs(LOD) in 15min chart .I traded 60 shares around double capital as you and got decent gains from 140 to 174. You got to reduce the size when the moves are wild because it can go either way.Only with enough experience and courage you trade large in these situations.Stop scrapping for pennies(chillar) .
 
#88
Guys - I faced a similar problem, details on the thread below. Any advice on how to handle this? I don't have much knowledge here and can't do this alone.
http://www.traderji.com/community/threads/upstox-margin-slips-to-40k-on-an-intraday-position.106580/
This is not upstox thread. Just pointing it out, that's all.

This is the thread where they post semi-regularly, that is, when their fancy strikes - http://www.traderji.com/community/t...ne-trading-part-2.72820/page-483#post-1290614
 
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