Zerodha - Number One Discount Broker in India

[Pawan_Arora]

I haven't read your whole post, but the first line itself made me laugh.. Over reacting ??? lol ... have you ever lost 10000 or 20000 due to such an issue ? then you would have known the pain. think about people who tried to take advantage of the sudden drop with huge quantities. they would be fckued like never ever man... 30 points in nifty is not a joke.

I have lost more than 10 times you are stating not because of this issue but because of not keeping TSLs in system not one time, but numerous instances.. We are in the most riskiest business and we should accept Loss in a dignified manner and should take full responsibility for our Loss/Profits and not to blame FIIs, NEtwork problems, Power outages, Manipulators, Hanged Laptops and our Brokers.

 

[ram2010]

I think many of the people here are over reacting, There can be technical faults once in a while, Why to make such hue and cry over split milk, They have already fixed the issue.

This is a loser's talk that I lost my money because of Zerodha's Terminal, Come'on guys We all should have our stops in place well in advance, What if a big fall had happened in matter of few seconds, What would have you done then?
There had been days when u would have gone for a pee and come back to only see nifty crashed 300 points from the last price you have seen.Then you might have complained NSE that why you did you allow HFT(High Frequency Trdaers) traders which resulted in Flash Crash.

Most Profitable Professional traders do not enter trades by looking at the terminal watch list, They have their entry triggers and stop loss triggers well placed in advance.

1) How many times you wrote a complain to Electric department that your power supply glitch had rebooted your router, which resulted in glitch in internet connection and you lost money and I am going to sue you for that.

2) How many times you have wrote a complain to your Internet Service Provider that Your service did not work for 5 mins and you gonna sue them for the Losses made in markets.

You have your right to raise your concern, but the same message can be given in much polite way.

Do not forget that Zerodha started this revolutionary Discount Brk concept in India and every Trader is saving 2-3 nifty points per trade which could have resulted in couple of hundred points in a month for a day trader. Just one instance of a Glitch and you lost some 40-50 points and you are blaming and talking of Sueing Zerodha, Not worth buddy.. Better, you foucs your energy to work on your Trading methodology.

Re-Iterating- Most Professional traders do not enter trades by looking at the watch list, They have their entry triggers and stop loss triggers well placed in advance.

Having said all this, Zerodha off course have to take the necessary action and I am sure they will mitigate all such risks ASAP.

Why some brokers terminal - sharekhan, sbicapsec, zerodha etc goes off on market crashes. why its not happening on ordinary days?

 

[Rehab]

Yeh lo aur ek!

Join Date: Jan 2014
Posts: 1

Hilarious!!:rofl:

Can we at least have someone who has not joined yesterday defending Zerodha? That would be more believable.

no man..not defending Zerodha..I just like Pawan's reply..
I'm too in some loss but just because of my stupidity..Trading is certainly a risky business.We must have-2 Machines,2 Internet connections,2 Brokers Account with enough Margin..a good charting software..Rest you know better than me as you are an old user on TJ..

I think,Pawan Arora is the same Zerodha Winner Guy..no?
http://zerodha.com/z-connect/zerodha-60-day-challenge/winners/software-engineer-up-400

 

[Venu_CA]

We were waiting to get the complete details, For around 15 to 20 minutes, there was delayed feeds showing up on the terminal, and this because both our primary and secondary leased lines for feeds connecting the exchanges were down. All orders were going through, but the feeds were delayed.
Connectivity risk is there with the brokers and as well as the exchanges itself, but the positive side to it was that since we have a backup to the backup, the issue was fixed within 20mins which if otherwise could have taken a lot more.

Pawan_Arora

I totally agree with what you have written.
Such technical problems may and will happen sometimes. It can be corrected and preventive measures can be taken.
But have you thought why people are angry ? It is not because they lost money but because of Zerodha's arrogant and irresponsible response. They never regretted for the inconvenience and never said a word of apology. Instead they are asking the traders to be grateful to them for solving the issue within 20 minutes. Is this the right way to deal with their clients ?

Pawan, You are a new member here. You just created an ID here to defend Zerodha. Why?

I think you are the same Pawan who won the Zerodha challenge with flying colors. Getting featured in the Zerodha site has helped you to get a lot of subscribers for your paid service. Showing gratitude is not a bad thing.

 

[Pawan_Arora]

Pawan_Arora

I totally agree with what you have written.
Such technical problems may and will happen sometimes. It can be corrected and preventive measures can be taken.
But have you thought why people are angry ? It is not because they lost money but because of Zerodha's arrogant and irresponsible response. They never regretted for the inconvenience and never said a word of apology. Instead they are asking the traders to be grateful to them for solving the issue within 20 minutes. Is this the right way to deal with their clients ?

Pawan, You are a new member here. You just created an ID here to defend Zerodha. Why?

I think you are the same Pawan who won the Zerodha challenge with flying colors. Getting featured in the Zerodha site has helped you to get a lot of subscribers for your paid service. Showing gratitude is not a bad thing.

Thanks Venu for your agreement with me. I wanted to share my view so I had to create the ID, because I have never written any post earlier, I was just a mute reader here. I also saw that issue yesterday and was curious to know how people are responding about this concern on Trader Ji and I did not really liked the way people were reacting. They are focusing outward than inward to improve results. Though I am very Gratitude of Zerodha and big Fan of their team but at the same time I would have replied similarly if people were blaming their loss on some other Broker also. That is why my main focus on my reply was more on managing our own risk management and less on defending Zerodha. But people took it otherwise.

 

[kumudhan]

Thanks Venu for your agreement with me. You got it Right, I am same Pawan. I wanted to share my view so I had to create the ID, because I have never written any post earlier, I was just a mute reader here. I also saw that issue yesterday and was curious to know how people are responding about this concern on Trader Ji and I did not really liked the way people were reacting. They are focusing outward than inward to improve results. Though I am very Gratitude of Zerodha and big Fan of their team but at the same time I would have replied similarly if people were blaming their loss on some other Broker also. That is why my main focus on my reply was more on managing our own risk management and less on defending Zerodha. But people took it otherwise.

but what i think is when ppl post their grievance in a forum, and that too in a topic dedicated to a particular broker they want a reply from a representative of that broker.thats why this topic was created.when ppl ask something to zerodha they need reply from them and not from madan, pawan or some other great men who won in 60 day challenge and are grateful to zerodha.

 

[akhill]

I have lost more than 10 times you are stating not because of this issue but because of not keeping TSLs in system not one time, but numerous instances.. We are in the most riskiest business and we should accept Loss in a dignified manner and should take full responsibility for our Loss/Profits and not to blame FIIs, NEtwork problems, Power outages, Manipulators, Hanged Laptops and our Brokers.

Good good sir.. I am spellbound by your dignified responsibility. Go ahead. I assume you have created your id for some better purpose in this forum rather than defending Z ppl who have become more and more pathetic these days because of their increased client base.

 

[Venu_CA]

I also saw that issue yesterday and was curious to know how people are responding about this concern on Trader Ji and I did not really liked the way people were reacting.

Pawan

How many people out of Zerodha's 35000 strong client base reacted harshly?
99.99% did not complain at all.Very few raised the voice and don't they have the right to do so?.

Did you like the way Zerodha responded ?. Even after a day they have not cared to respond and clarify what went wrong. The 70+ team did not get time ?

Zerodha Team, Read this a few times

“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so.” ― Mahatma Gandhi

 

[anup]

Ok.Zerodha Whatever has happened is past, now we cant change it..Now What assurance zerodha will give that same will not happen..

If the same thing is repeated can you wave off ur clientsbrokerage for 1 month...

And morover you should have appologised for the problem..

 

[throwawayacc123]

Ok.Zerodha Whatever has happened is past, now we cant change it..Now What assurance zerodha will give that same will not happen..

If the same thing is repeated can you wave off ur clientsbrokerage for 1 month...

And morover you should have appologised for the problem..

Zerodha cannot assure that this will not happen again. They know the faults in their system.

They will also not wave off any brokerage. They are a business.

If they apologize, then it means they have done wrong. Have you even heard of a company saying they are wrong and we will fix issues.

Only thing i can say is , give Zerodha another chance and if it repeats , we can always switch to another discount broker.