If your SL and Exit for Bracket and cover were cancelled due to the NSE connectivity issue today morning, it has been reinitated. If you had taken a counter position using MIS/CNC make sure to exit them.
Hey. How will I know that it is not a software glitch and i need to take counter order ? I saw my money went down 45k because of zerodha. I called 50 times to know whats happening, heard 3 options: “not a registered no, try again”, call dc within 6 sec, and did not connect at all.
After 2 hrs around 11:30 my BO stoploss in SBI got executed and I could not do anything. Who is gonna pay for this?
@nithin zerodha should take responsibility of my loss. If you are cancelling the orders, let us know by sms or keep your call line open. i was not able to square up my positions and assumed my SL must have triggered as it was impossible to understand looking at my executed orders that which order got cancelled. I am not a big investor. So 45k is my two months saving.
for this sentense "This is risk with bracket orders as a product itself, can happen to any broker who is offering this."
What is the use if on earning day your kite is not working properly…in this week our order not executed and other broker just work perfectly fine…everyone earn profit with bank stock and we were just watching the price…
if you are comparing your issue with other broker then just compare there good quality to your services…
i appreciate alwasy to your and your team but whenever there is problem dont just show apologies do some improvement
I always play with BO. But still now I am not able to understand this case. As for example Tarzan took a position in SBIN at 200 with target 2 and SL 1 rupee. So he got his first target but it hits the SL. AM i right?
I guess this happens when we keep a very thin SL. Correct me Nithin
Instead of telling, few milliseconds are essential to complete an order, trace back which trade pair (buy-sell or sell-buy) already being completed and don’t allow the second sell or second buy to happen. If all it happened, have a provision to cancel it.
On 25th, same thing happened to me. There was no cancel option for the order. I tried calling whole day to your number always busy or number not registered. I mailed on 25th regarding this no response from your end. I have been calling from that day they simply say RMS team is looking into the problem. I came down to your office also, I was convinced the way your software implementation. I kindly request you to look at the problem and let me know who will recover this loss.
Kotak says that companies like Zerodha are going to close and is it true that companies like Zerodha make pool account & keep our money in that?
Your actively answering for all other questions why is your Customer care and you are sitting quite when it comes to 25th October issue?
So many investors have lost lot of money on 25th Due to that Target and SL order got cancelled automatically.
I have enquirer d with other brokers no brokers had this issue its only your brokerage firm… I feel you guys are incapable of handling such issues its almost 2 weeks and no response yet.
Retail investors have micro fund if they loose money for these type of issues they will start loosing trust in your firm. Trust me what ever I have saved in your brokerage have lost in that single day
I used to admire you and your firm because of the way Zerodha was into exploring and building the new products now I have second thought.
In-fact I have referred so many people to Zeroda now most of them are questioning integrity of your firm…its high time you resolve those issues.
LOL!!! Your customer care no. has a very poor response time. The call hardly gets connected, chances are 1 out of 20.
Are you serious? Intraday traders obviously dont have much margin balance that’s why they are using leverage facility. How can you expect an intraday trader to take a counter position in CNC which maybe worth 5- 10 Lacs.
Hardly anyone keep 5- 10 lacs in his trading account. And 90% of day traders dont have such high capital.
You should take the responsibility of providing free counter trade. Because you have CRORES of money. If you cant help your customers then it will harm the trust of people.
I’m sure your tech team must be looking at this but the better option would be to lock the SL trigger while Target order is in process. That’s what usually happens in all booking platforms. right?
If there’s only one seat and if your order is being processed, the other person can not book it as it is locked whole the previous order is being processed.
Hmm… like I explained in my comment above, there is time taken to react when target order is hit right? It is fast, but it can never be same time. The same way you would take time to process what I write, every program will take time, it can be in milli seconds, but everything needs time. In that time, if another thing happens, not possible.
that is Why I hate Bracket Orders and also dont use Stop Loss orders either.
I always use NRML orders only. dont set stop loss. Dont set stop loss is because my stop loss limit is more than Daily range.
for this Dont trade in High beta High volatility stocks which swing more than 3% in a day. ( But these days most stocks moving more than 3% I just stopped trading in stocks and doing in Nifty Futures )
If we find something easy and convenient to trade that is also easy route to destruction.
sl depend upon how much stock is voletile,
“Very tight target and stop-loss” is the moral here in this scenario.
What should be the optimal ratio of target and stop-loss Mr. Kamath, where we can control those milliseconds and not get into this scenario?
I have the same question @nithin. for example Nifty futures - How much should be the gap between SL and target, for BO orders, for such things to not happen?
I’d say keep it atleast 5 points.
Thanks for the suggestion.
I would like to raise my concern regarding to BO issue which rejected SL and Target and incurred huge loss without my fault. there is no satisfactory response from your team
I submitted JustDial Fut Sell BO order of trigger price 381 with SL and target of 10 Rs. I found that order was executed at 10:28 AM on 2nd Feb and created 2 orders ( 391 SL and 371 Target ) in open order. within a min i found that my SL triggered and both orders removed from Open Order tab. post that i did couple of trades on Justdial.
Now I found that 381 BO was kept open in Position which system did not allow to exit because it’s removed from Open order tab. I called your support number but as usual no luck. I did not get any call/message from your support team to know what’s going on and how to exit it.
Your system did not provide any way to exit that position and your RMS team submitted counter NRML order at 12:50PM ( waiting for more than two and half hours to reach the loss to maximum at 461). Still there was no message and call from your support team what’s happening.
My request to you is, I had positive margin in account then who should be responsible for this loss which is not my fault.
If your system provided the functionality to exit the order even it’s rejected by NSE then i could control my loss and exit at 10:30 Am when price was at 395/396.
Why did not your RMS team called to customer to protect them and took action immediately to stop the loss at 10:30AM.
I had positive balance which got wiped off and also got an email to pay additional -Ve margin of 84K.
I kindly request you to look at the problem and let me know who will recover this loss.
Would appreciate if you fix this BO issue asap which can help others to avoid similar situation in future.
I think you raise this issue with SEBI and you will get a favourable response and resolution.
What A dammm Disaster Man.
I really feel sorry for your loss.
I know the full process to recover your Loss.
Let me know if you are interested.
You need to register your complaint here if you traded in NSE.
Here, You first register yourself and provide all the details related to that trade where you faced this Loss.
It’s Totally online process.
In 1-2 days your NSE Zonal officer will contact you.
You can sort out the issues with him and he will help you out in this matter.