Making Losses Due to Revenge Trading? Turn on Zerodha’s KILL SWITCH in Kite and Chill Out!
Updated: Aug 30, 2021
India’s largest brokerage company Zerodha has come up with an exciting feature, ‘Kill Switch’ on its Kite platform.
Without any doubt, it is highly beneficial for all types of traders. But any stockbroker will encourage more trades as they get more revenue through brokerage, but Zerodha is innovative and has dared to bring this feature.
It will bring some losses in the short term for Zerodha for sure, but it will help its reputation as India’s largest broker by bringing in more clients in the long run.
What is Kill Switch?
Kill Switch is a new nudge in the kite platform which allows users to avoid trading for the next 12 hours (once enabled).
“If you’re making losses, this new feature helps with your trading discipline and risk management by allowing you to instantly disable trading in one or more segments on Kite, forcing you to take a break from trading. Once a segment is disabled, you can only re-enable it after 12 hours” Nithin Kamath said in a post published on the Zerodha website.
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How to Use Kill Switch?
If you want to use Kill Switch and disable trading,
Visit console –> Accounts –> Segments
Then turn on the kill switch for any selected segment, and it will be disabled within 5 minutes.
Once disabled, a trader can reactivate it only after 12 hours.