Recently few days back I was thinking this out myself that I do maintain a trade journal of my trades but I never really get to perfectly cross check the profit i earned with the Available cash at the close of it. As it is, Zerodha always blocks some of available cash as margin even if its not MTM losses. So never could we really check that today’s profit has been added or not.
And here I see a video of a trader who Lost money of a trade at 3:52 PM when actually the markets are closed. He closed the day with 11K profit but later in the day saw kite showing - 70K+ losses.
Why does this happen? Can someone from Zerodha team answer this. How can we be sure this is not quietly happening to any of us unless like we keep cross checking older trades again and again on Console?
This was just a display issue on Kite after market hours and didn’t affect the actual P&L. Also, this happened only yesterday and we’ve rectified this to ensure it doesn’t happen again.
@ShubhS9
Can this ever become a real thing? Real lose rather than a display issue? Like a historical trade turning to loss and thus reducing the money in account? After market close, the trade becomes historical and humanely its difficult to recall if say a week before trade randomly changed to negative and my portfolio shows negative p&l.
Also i also got this fear that this was actually stated so because it became public. What if the person never noticed. Would it still be a display issue or zerodha too wouldn’t notice and won’t rectify and it continued to error, resulting in losses for that user.
Apologies for the rudeness, but that’s just BS. The OP of the video also showed the third party app https://web.buzzzer.in/ which uses your API to get data from your “server” show the same P/L after 15:32.
This is not a “display” issue. It’s not even an issue on the client side, but on the server side. While you may have two databases and your console and contract notes “may” have been correct, because it uses a different database, you cannot simply downgrade the issue to a “display” issue just to downplay the huge messup in your server. Please own the messup regardless of how hard it is and people will respect you for it.
…and the author of the video doesn’t contest it in their subsequent response.
The author of the video is implicit in their acceptance that they haven’t actually lost any funds,
as they either knew that all along, or quickly understood in response to their support tickets.
Unfortunately, nuance doesn’t get views/clicks and they have to resort to such thumbnails / claims for popularity, diverting attention from actual issues (including the one they actually faced).
This is a good example of why communication needs to be specific and pedantic.
A straightforward brief answer is just as likely to be misunderstood.
Time for @ShubhS9 to next clarify what they mean by “display issue”.
Presumably an issue that affects the system that processes the display of information,
distinct from the regulated/legally-binding system that is involved in the actual trades.
Unless and otherwise they mean that OP purposely edited their video, their live audience, and their third party API Buzzer data, the wording “display issue” is a blatant downplay and a hands off attitude from zerodha.
If you watched the video, they were clear that they created support tickets and they are almost certain that they are going to get the money back. Their point is what if it was not recorded? What if they didn’t notice? Would zerodha have gotten away with it? If zerodha just said you made these trades, what’s there to stop them, if they didn’t record it? That’s a very valid concern and I don’t think it’s a clickbait video at all and they didn’t exaggerate anything. If you haven’t, I highly recommend you do watch with it without bias.
Unfortunately, i had to watch it earlier as i wanted to respond to it here.
To be clear, i am not defending Zerodha.
i am lamenting at what passes for Trading education and training
and the lack of awareness in both the person in this video
and folks who are falling for the narrative that Trading is easy,
and did not even bother to ask about Settlement/Contract notes.
To be fair, maybe the author of the video does understand all this, but are simply a victim of the times, with social media these days fully adopting the “No crisis should go to waste” strategy.
Without looking at the actual contract notes,
there is nothing to suggest that they had lost any money in the first place.
i hope one silver-lining of this clickbait video is that it opens the minds of folks who think trading is easy just because it is online (or in an app) these days. Hopefully, more folks will start maintaining their own spreadsheet/ledgers and trading journals and have a proper picture of their finances and trades.
On second thoughts,
probably a nicer response to folks getting their minds-blown by
learning about the relevance/importance of contract notes, would be - “Welcome to the club! You’re one of today’s lucky 10.000”.
