Yes, you can retain your seat of the first round if you choose to freeze or lock the seat. The counseling procedure allows you to lock a seat when you are alloted so that you can have this seat permanently. After freezing your seat, you will not be considered for further counseling. If you choose the float option, then also you will retain your round 1 seat but as soon as you get something better in the next rounds, your round 1 seat will be eliminated and you will move onto a better seat. SO choose your options wisely.