Today, I wanted to sell the shares worth 10,000/- in the intraday instead by mistake I sold 10,000 shares. As I realized my mistake, I immediately squared off the position with a loss of 22,000/-
I explain how it happened. On the Kite web, I usually select the Longterm radio button and then enter the amount in the quantity textbox by selecting the amount icon. Then I select the Intraday radio button such that the number of shares are calculated for that amount. Today, by mistake I entered 10,000 by keeping the Intraday radio button itself.
So, instead of selling 10,000/- worth shares, I sold around 22 lakh worth shares.
So, my request is to provide options to set the maximum transaction limits, may be, for different types of instruments. For example, if I set my maximum transaction limit for intraday equity to 1 lakh then even if I make a mistake the system should not allow me to place the order if the transaction worth is going beyond 1 lakh.
Such idea is already implemented by banks to set the limits for online, debit card and credit card transactions.