Zerodha have enabled a new feature on its Kite app for its users

Zerodha, discount broker has initiated a ‘Kill Switch’ which is a new feature on its Kite app. This feature enables its users to take a break from trading eventually restraining over-trading.

Through a post published on the Zerodha website Nithin Kamath explained that if an user is making loses, this new feature will help with your trading discipline and risk management by enabling the user to instantly disable trading in one or more segments on Kite, forcing the user to take a break from trading. As per information, trading in a segment can be re-activated after 12 hours of being disabled.

Nithin Kamath further affirmed that the company is also looking into developing the Kill Switch to be triggered automatically on the grounds of predefined loss or drawdown level fixed by a user. He disclosed, “We are also working on allowing you to define the maximum order and position size for every instrument as a percentage of our overall trading capital.” Furthermore, he explained that the feature will help the user to avoid taking larger position due to the anxiety involved through greed or fear when trading.

The feature ‘Kill switch’ will also provide the users to temporarily deactivate their trading accounts or the particular segments. Zerodha users will also required to leave all the open positions and cancel all open orders prior to disabling a segment

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