Position window showed I made profit of Rs. 506 and I was happy.
Then, in end of day contract note email, it showed loss of Rs.16. So, the charges, though not very high, ate up profits.
Why can’t zerodha show more accurate p&l in positions? I know it can’t be accurate due to few factors but at least to the extent possible it should be improved.
Or may be show gross profit & provisional profit?
@nithin, @Bhuvan
Stumped! How this happened ? Is this because of charges or technical error?
Yes, due to charges. I have edited the question.
you should have considered your break-even point while taking position.
vijender88 i didn"t understand what to said
basic principal of profit everywhere:
your profit is not the difference of entry and exit, your profit is the difference between break even and exit.
break-even means entry + charges
even for me its the same case. coin platform gets updated in the last.
Even moneycontrol is dynamic. The calculations of invested funds is also wrong
thank you i understood and i will check before buying a stock
How much percentage do we allow for the charges?
I understand there will be charges but positions p&l should reflect it to reasonable approximation in real time. Please.
My 2 bits …
Well, just 506 profit means nothing much because, it has to be compared to number of calls done … did the profit happen just in one call or many calls ? What was the stock price ? Brokerage is calculated over total volume traded… etc etc …
For this case lets consider that Rs 506 came out of just one trade … then put your buy, sell and lot size values on brokerage calculator on zerodha’s site and compare how much brokerage and taxes should have been charged for that trade.
It’s from many trades & I don’t dispute the charges. But, my point why can’t the p&l reflect this at least approximately?
Also it does not show charges for single option, it shows for all time like from april till now …
it should show for single option buy sell , not for all buy and sell
Even though the idea is really awesome and worth implementing, I think there are 3 reasons why that this might not happen:
- People are used to seeing the math in black and white. Meaning that every broker in the world shows the P&L as (Current Price- Buy Price) * Qty in case of longs and vice versa for shorts. Now, if any broker (like Zerodha) starts adjusting these values for approx. brokerage and other charges, people will most likely get confused and start calling the support center. It would be painful for call center folks to start explaining the whole arithmetic to every caller.
- In a very narrow sense, it’s not in the best interest of the broker, at least in the short run. If traders see losses early, they might taking fewer trades - which will directly impact broker’s top-line (I know this will be debated but it’s true).
- Let’s say you trade with broker X who shows the positions as-is and broker Y who always shows you lower profits/bigger losses (however realistic they might be). We may think we are all rational being but the inner emotional self always look for optimism and hope and would be biased to trade with X where you see yourself as a better trader.
Having said all that, if Zerodha does implement this feature, I will have a whole new level of respect for @nithin and the his team.
~Neha
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The reasons are well articulated by @Neha_Raghuraman. I would suggest you to read/understand the role of retail investors in stock market and conflict of interest between retail investors and broker. Simply put the broker is much happy when you loose than when you gain, but that doesn’t mean you can’t make money. All you have to do is follow the shark (institutions)!
FYI i faced the similar issue, made a profit of 200 but at the end of the day charged 869. I am newbie and learning. Have made losses in one month of trading. It hurts but I am happy to have learnt few things.
Also, get all the tax filling information. I am finding it complex at present.
Also final charges, brokerages etc are calculated when the trade is completed and keeps changing depending on the LTP or positions. But if they can give the breakup of everything on kite itself that would be awesome.
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Hi,
The reason I believe this is not possible is because in some cases if you buy in Intraday and if you wish to convert it Delivery, then the brokerage & tax amount changes.
And the same applies for vice-versa cases also.
Also, there is penalty for options buying so, there is too much backoffice work involved.
This is best done after market hours.
It becomes to complex for the system to keep a track like this and the simplest option is to show buy, sell and profit and at the day’s end apply the brokerage and taxation accordingly.
Every broker functions this same way, so I don’t think Zerodha is at fault here.
I think icici direct does a very good job here. It’s been sometime I used it so can’t recollect the details.
I still feel zerodha should try it’s best to display the charges as an approximation and where possible. Yes, it will involve work, may be bit complex, but that’s no justification as it helps millions of us!!
Agreed it is no justification to not provide to what a customer wants.
But again I will retain my stand because if Zerodha starts displaying that way it will just cause confusion as many will not be able to understand that way and will flood the support system.
The best option will be to get a rough estimate from brokerage calculator.
In intraday, for 1 lakh turnover something between 15-20rs. gets cut in charges.