Is urge to trade getting the better of you? Zerodha’s ‘Kill Switch’ is a remedy, says Nithin Kamath – Delhi News Daily

If your urge to keep trading gets the better of you, Zerodha users have an escape route through its ‘Kill Switch’ feature, founder & CEO Nithin Kamath said, adding that traders on its Kite platform can enable the feature and be stopped from placing any bets for the rest of the day.

Citing his experiences as a trader and owner of a brokerage platform, Kamath said that one of the most common mistakes he sees is over-trading and revenge trading. He further said that the best trade in such situations is to not make any trade.

“The other common trading mistake I have seen over and over again in all my years of being a trader and running a brokerage is over-trading and revenge trading. Sometimes, the best trade is the one you don’t take,” Kamath said in a tweet.

“This is why we launched Kill Switch. If you get the urge to keep trading, you can enable it, and you won’t be able to place trades for the rest of the day,” the founder & CEO said.

How to disable the segment on Kite

Zerodha users can use the ‘Kill Switch’ feature to disable a specific trading segment or take a break from trading. This feature is part of the nudge initiative, which aims to prevent traders from experiencing burnout due to excessive trading.1) Tap on your User ID2) Tap on profile

3) Tap on Segments

4) Tap on the toggle button for the particular segment and then of to ‘Continue’.

Also Read: Zerodha staffer owns 3,100 stocks — nearly the entire NSE universe trading today. Here’s what Nithin Kamath says

The segment gets deactivated within 5 minutes. Before you disable a segment, ensure you have no open orders or positions. Once you disable a segment, you can re-enable it only after 12 hours. The time displayed for re-enabling the segment is using the 24-hour clock.

Here’s how to enable a segment

1) Visit console.zerodha.com/account/segment-activation.

2) Click on the toggle switch for the particular segment and then Continue.

3) Select email or Mobile to receive the OTP to your registered e-mail ID or mobile number and click on Continue.

4) Enter the OTP you received and click on ‘Verify’.

Also Read: IPO investor alert: Zerodha CEO Nithin Kamath flags how tax arbitrage game by VC firms is driving valuations

Things to keep in mind

Once the GTT triggers, if you have disabled the segment, your orders will be rejected. The same applies to basket orders and SIPs that get triggered. Even if you disable the segment, your demat account remains open with Zerodha. Hence, you will still be charged the Account Maintenance Charge (AMC).

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)