Must have tool if you use Zerodha for options trading

@Arockiya_Raja sir this is a strange request but is it possible in that a kill switch be provided for options alone. Basically currently the kill switch is available but it disables both future and options. Kindly provide separate kill switch for futures and options, so that we can disable options but still be able to trade in futures.

hm. That’s not possible as both are coming under the same segment.

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Ok sir, @Arockiya_Raja but even in a segment there can be 2 product types and one might choose to not trade in 1 of that product. By the way 95 percent of the option buyers are in losses. Warren Buffett once famously said that “Options are weapons of mass destruction”.
I hope people will get a choice to block buying options for a certain time to be able to conserve their wealth and get time to rethink their strategies.
Plus max loss kill switch still not given sir(say 50k set as limit than kill switch takes you out).

@Amit_Rana1 i tried this smart limit but doesn’t seem to work…its getting rejected by kite with quantity freeze error though i’ve selected override option…

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and proceeds to sell Puts on Coke


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@AnshumanSharma . This feature is so useful and very important to cut loss. I have requested to Zerodha in other platforms and in twitter but no one in Zerodha is much keen to bring this simple but powerful feature.

@Arockiya_Raja - Cant we have this? Based on max loss exit all positions?

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@Amit_Rana1 - For some reason I am not getting F&O this month when i go to Console – Zerodha (Console> P&L)

All other features in kite - toggle , filters, and stuffs are working fine

@Arockiya_Raja sir please give max loss kill switch, it was promised to us by @nithin sir almost a year back. Why can’t we get a choice to decide maximum possible loss and avoid revenge trading.

Guys anyone here who wants max loss kill switch let us all ask for it together.

+1.

I have already requested Zerodha, tagged Nitin on Twitter. No luck, they are not even considering as of now.

May be will need to ask @Amit_Rana1 to add that feature of ‘alerting a prescribed max loss’ whenever it is reached as an alternative solution if possible. :slight_smile:

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@sumac100 that won’t work cause a losing person doesn’t understand restraints or alerts. It simply becomes revenge trading and risk reward everything else goes out the window.
Infact I am sure most of the operators are feeding on this only cause in second half both CE and PE start falling leaving no chance of recovery, only compounded losses.

@AnshumanSharma I agree losing mind doesn’t follow any rationale, and kill switch when prescribed max loss is reached may help there unless one is very disciplined but at least an alert with popup or so can make a trader take some action rather than watching his p&l go to negative. In any way, the majority of traders don’t have the ability to cut loss consistently so kill switch is the solution but at least traders who follow a system can take immediate actions if there is forced notification.

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Several exciting features are WIP. This has already been noted, need time to explore this feature.

Some backend changes are yet to be built. Need some more time for this.

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Then this feature will never come in 2022 :slight_smile: going by track record of Zerodha

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I implemented this sometime back. You can now see today’s P&L. It adds all closed positions (full or partial).

Click on the ‘total pnl figure’ then today’s pnl will show as tooltip. You can also see pnl of that position by hovering on pnl (have to click to enable)

quantity freeze and smart limit are two different features.

to avoid quantity freeze you have to check the box buy/sell button.

By default quantity freeze feature is disabled, you have to enabled it in settings. Once you enable then the check box will be visible.

It had some bugs and I wasn’t able to give time to fix so I have disabled it.

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As a workaround, you can group your positions together using ‘add or create new strategy’ feature. Once you do that, this group will show in dropdown. Then you select the dropdown, only the positions in this group will show. This also shows P&L of this group of positions in browser title.

Then you can enable auto-refresh from the settings. This way even if you are on some other tab, you can always watch the P&L of this group.

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@Amit_Rana1 Ok yes that i figured out. But i was trying to gte that feature of P&L for this month which is a cool one and very convenient one can know without the click. Yes understand for time shortage you couldn’t work further.

BTW while using Smart limit I’m getting an error “Zerodha has stopped accepting betterkite” or some notification/popup like that every time I use Smart Limit , although the order is getting executed , so not too sure if it is still getting placed at 5 paisa different to the best bid/ask.

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