Hi Zerodha,
When it comes to investments in Equities , ppl may invest on recommendations of friends/relatives/professionals/TV experts.....so and so.
When it comes to trading, that too intraday/swing, there will be hardly few who don't see charts and do trades as per recommendations of others.
Now for EOD charts, theres already lot of sources available and needless to mention.....free.
For Intraday charts : Either traders pay for Java based charts OR take aid of ODIN charts OR use Amibroker/MS/etc etc with paid data feeds.
Out of them we have good indicator collection (ie. AFL ) for Amibroker for which many provide datafeeds for as low as 500pm.
But Metatrader4 which has large number of free trading systems/indicator and which is very user friendly. Curr very few foreign brokers provide charting/trading thru MT4.They have large number of Demo a/c.But they do not score the same number for real a/c as ppl do not incline to open 'REAL account due to various reasons ( like reliability concern, brokerage etc etc ). I don't think any INdian broker provide MT4 for obvious reasons.If i am not wrong, then u have to lease MT4 server or something like that stuff.
There are Lot of traders who apply their MT4 systems on Demo MT4 which have limited symbols ( that too with price mismatch with indian exchanges), just to analyse and subsequently trade.
Since Zerodha is volume topper in India. It can consider providing MT4. Afteralll ,'Economies of Scale ' matter a LOT. Zerodha surely can have first mover advantage.
Traders will not mind even if Zerodha put some minimum brokerage condition for it.
( Pls Note- I am not aware of server lease or required procedure , but i read somewhere it's something like that in TJ's thread named 'Free MT4 data...'.)
Hope u will do SWOT analysis and feasibility study of above concept.
Regards
Meena
I totally agree with you. But AFAIK, MT4, by Metaquotes is given to only Forex brokers. And so, I don't think MT4 is used by any stock brokers around the world. But, yes a platform like MT4 is what our markets need and we will be getting there, how soon or late I am not sure, as I have been waiting for one good platform which gives tools for trading and with ease. Some of the platforms that you mentioned like charting on ODIN and yeah I have seen KeatproX's charts, they provide 3D charting (I expect better features than the 3D candles), I really don't care about it, coz the 3rd Dimension doesn't give me any picture or depth of sentiment, rather eats up my PC's resources, also the servers hosted on ports which everyone can't connect, I have seen couple of data vendors for charting also do that, to whom I had to call and tell, hiding is not the solution for security, it doesn't take more than few seconds to find out what port you are using, and should use better ways to secure themselves. Even coming to pure paid technical analysis software developed here for our markets, like IRIS or Falcon, they have some of the features which are very good, but they lack in others a lot compared to Esignal, Ami/Metastock, I don't know when they will get there, also pricing wise they are now quite comparable to Esignal, so they have to excel in adding features, else people here would go to Esignal than IRIS/Falcon. I hope our brokers/software/data vendors understand the features that really matters and important, how its there in Amibroker, or MT4 (they are not trading terminals, but just taking examples, how a software should be), simple, precise and fast and importantly which are needed, what really matters and used.
One more important thing is we will never get best of two things in one, very good trading platform as well as very good technical analysis platform in one and by your broker itself. Coz, they are two different markets, addressed by two different entities. Still, there are great platforms which has decent features from both worlds for trading and technical analysis for traders, like Lightspeed trader, DAS trader Pro, Thinkorswim, interactive brokers's, like other day I was mentioning tradeinterceptor even on mobile there are great tools. I hope the vendors here, look to get some features and/or match in the future. Also, how much I wish some of the things which is considered as Algo trading is also waived off too for us.
We just saw a first wave of change in our markets about 2 years back (you know who brought that first wave, you know who am referring to
), definitely, there will someone who will get the first mover advantage out of it for our markets for this also.
Cheers!
