Trading intraday or futures and options is an extremely volatile business. When in a major drawdown, usually the smartest thing to do is take a break for few days. This is what I would advise any friend or client who would ask me what to do in such a situation.
The chances of blowing up is much much higher when in a drawdown. The tendency to take much bigger risks to make up for the loss. The smart thing is to take a break for a few days. But saying and doing are two different things. When having those losses, the mind constantly is hoping to hit a lottery and recover. So people end up trading compulsively.
So you click on take a break from trading, end of day all MIS and F&O products get disabled (no intraday or F&O trading). If after a few days break, you intend to start trading again, we restore the access. But this would be again done overnight, giving the trader enough time to think if he really wants to get back trading immediately. Take away the option to just compulsively trade. Only equity delivery trades will be allowed on the account during that period.
I know you all would think it’s crazy to offer this utility as a brokerage firm, and would cause us a revenue hit. But if we can help our clients to take the right decisions in life, we will hopefully make up for it in some other way.
What do you all traders think? Would it make sense to launch such a feature on Kite? Do you think you would ever use it?
- Not sure