Zerodha....

[vikrit]

Right. More experience as traders. I am sure they are well educated in the Capital markets too. Now what is your combined experience as brokers ?? Or any kind of experience in retailing ?? Hardly any, I guess.

It's a big leap from a technician (of whatever skill level) to a shopkeeper. As a technician you want to maximise efficiency to maximise the profits from trading; as a broker you want to maximise efficiency to maximise participation from your customers. The customer's profits or losses are secondary. I'm not saying that they are not important - secondary. So, ultimately your schemes have to be primarily geared towards wider and deeper participation.

The 60 day challenge was a brilliant idea. A second round, ok. Carrying it on a continuous basis ?? I'm not sure. How many vendors run a promotional scheme on a continuous basis ?? They keep coming up with newer schemes all the time - keeps them hooked. After a while the charm of "zero" brokerage will get rubbed off, as the traders do their own math and come up with different conclusions and may or may not care to discuss with the community. After a while the competitors may come up with more attractive sounding schemes.. whatever, the market is dynamic and, at the moment, shrinking (lowering participation from the retail traders).

Hope you take this in the right spirit. As a broker, you want your customers to improve their bottomline, and as a customer, I want the same for the broker.

.......

good explanation. :clap::thumb:

there are two great things to understand for any marketer/businessman-

1. Advertising in the final analysis should be news. If it is not, it is worthless.

2. The only consistent thing in advertising/promotion is the absence of any consistent.

.

 

[Zerodha]

Right. More experience as traders. I am sure they are well educated in the Capital markets too. Now what is your combined experience as brokers ?? Or any kind of experience in retailing ?? Hardly any, I guess.

It's a big leap from a technician (of whatever skill level) to a shopkeeper. As a technician you want to maximise efficiency to maximise the profits from trading; as a broker you want to maximise efficiency to maximise participation from your customers. The customer's profits or losses are secondary. I'm not saying that they are not important - secondary. So, ultimately your schemes have to be primarily geared towards wider and deeper participation.

The 60 day challenge was a brilliant idea. A second round, ok. Carrying it on a continuous basis ?? I'm not sure. How many vendors run a promotional scheme on a continuous basis ?? They keep coming up with newer schemes all the time - keeps them hooked. After a while the charm of "zero" brokerage will get rubbed off, as the traders do their own math and come up with different conclusions and may or may not care to discuss with the community. After a while the competitors may come up with more attractive sounding schemes.. whatever, the market is dynamic and, at the moment, shrinking (lowering participation from the retail traders).

Hope you take this in the right spirit. As a broker, you want your customers to improve their bottomline, and as a customer, I want the same for the broker.



Good answer :thumb:

Very well said TP..

We want to be the number 1 broker in the country by August 2014 and that is the target we have set for ourselves..

The only difference between us and probably another broker is that we probably understand what a trader needs better...

60 day challenge was an amazing idea, but we Indians are very penny wise pound foolish.. We are always looking for a shortcut and one of the main reasons for a country like ours not being in the league of superpowers.. WE have to adapt to change it where it is even for both you and us... Personally I think it would make more sense to change it from 60 day to a 200 trades challenge or similar... We will keep you all posted...

But TP, this post makes a lot of sense and very well put...

Thanks..

 

[shekharz]

@ Zerodha

200 Trades Challenge (or similar) is quite a pretty idea.

By the way, when NEST is supposed to do equities as well as commodities so that we may trade both from same program without worrying about fund transfer between both separately.

Cheers

shekharz

 

[fxgood]

I understand that it is property of exchanges. But they (NSE) are giving out warning to brokers, and in turn traders are warned by brokers. So we end users/traders are suffering.

Exchanges should understand that it should at least provide basic necessities such as tick data for free to traders.

See, what we are getting from NOW is tick at an interval of 1~2 seconds, provided that trade happens. We are not getting all the ticks that are being generated by the trading in exchanges.

NSE is free is sell it's premium version of tick data in which perhaps all ticks are available.

Do you trade faster than 1 - 2 sec manually?

 

[timepass]

Personally I think it would make more sense to change it from 60 day to a 200 trades challenge or similar

Very good idea. This will be attractive for the compulsive trader, the addict.

Another thought would be to re-define the term "profitable". Maybe "profitable" could mean cost minus brokerage. That would give a big fillip to the options traders.

 

[chandra1]

[......]

Difference between SL-L and SL-M is as below:
Assuming you have bought Nifty @ 5100...
You can place a SL-L (Stop Loss-Limit) with trigger at 5080 and Limit Price at 5076. Hence if the price comes to 5080, a sell order is sent to the exchange at 5076 and depending on the best buy the order gets executed. However, if the price of Nifty falls from 5080 to 5075 in one tick, although your trigger is activated the Stop loss does not get executed as the limit sell is at 5076.
However, if you place a SL-M (Stop Loss Market) you will be allowed to enter only the Trigger Price. Assuming you put the trigger at 5080, the moment Nifty hits 5080, it gets sold at whatever is the "Best Buy" Price in the market.

1. So, one can conclude that it is better to place SL-M than SL-L.
And even one wants to place SL-L order, then he should place SL-M order instead of SL-L order and put the trigger price equal to what we want to put in limit price in SL-L. Am I right in my conclusion.

2. What will happen if, suppose trigger price is 5049 and Nifty falls from 5050 to 5048 in one tick. The SL-M will get executed or not.

3. Can we change/modify SL-L or SL-M or trigger price before the activation of trigger price placed in the order. What will be the procedure. How to do it.

Thanks

 

[Arjun20]

Check out the first link, real time tariff... NSE charges a data vendor Rs 56lks(equity +fno) and Rs 500/exchange/month for data vending..

As NSE members we are warned that we can't release any tool that could cause them a loss of this revenue.. NSE actually categorizes people who receive data in any other way than through their data vendors as piracy..

So if someone is vending data without paying NSE their fees( the typical guy who charges Rs 300/400 per month), eventually NSE will catch upto them and stop it from happening.. A lot of authorized data vendors are pushing NSE to take strict action against those who are doing it illegally...

We are in talks with a popular vendor to give out data at discounted rates to our clients...

Cheers..

Zerodha,
how Yahoo and Google provide data for free? .And even some free/paid tools also provide real time yahoo/google data LIVE.

 

[Sunny1]

Zerodha,
how Yahoo and Google provide data for free? .And even some free/paid tools also provide real time yahoo/google data LIVE.

yahoo/google have different package from nse..

Rates for vending and rates for broadcasting are different ...check out nse site

 

[Arjun20]

deleted....

 

[Zerodha]

thanks Sunny.
But i am NOT at all indicating towards rates , whether it's broadcast or TV release etc.
I am indicating towards website's data used by commercial entities .How other's use their broadcast is beyond their control ? Isn't it violation ?

By commercial entities, you mean the vendors who pull data off websites which gives data.. Yes it is a violation!! Doesn't that guy on the street sell you the latest dvd for Rs 50, even if it is a violation... As long as there are guys selling it, people will buy it..