Zerodha....
- Thread starter bharath.mang
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- Tags bakwaas now cheapest brokerage nest nest plus new broker zerodha zerodha trader
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I must appreciate Sachin for the way he is addressing the fears and concerns of traders like us. Traders contribute to the bulk of the revenue for any trading firm and it becomes very difficult to please this segment since 90% of all traders loose money in their first 3 years. Very few traders take responsibility for a bad trade and normally likes to blame the service providers for their misfortune. Thankfully, Zerodha scores very high in speed of execution and cost of execution front, forcing the trader to take responsibly for his own actions.
I have been monitoring the progress of this thread and i feel Zerodha team is on the right track. I think its time they start their "educating the trader on how to trade" segment. They are proving to be the most promising trader friendly facilitator (not a broker) and most of their customer needs lessons on capital preservation, risk management, trader psychology and trade management.
After all, a trader will be able to give business every day if and only if he has enough (financial and emotional) capital to trade another day. SO it is in Zerodha's interest if their customers are profitable. Hopefully some of us will be able to take benefit of their initiative and help ourselves become profitable.
Again, thanks to Sachin and his zerodha team, for raising the bar for broking firms in India, our expectations from them keeps growing.
All the best...!
I have been monitoring the progress of this thread and i feel Zerodha team is on the right track. I think its time they start their "educating the trader on how to trade" segment. They are proving to be the most promising trader friendly facilitator (not a broker) and most of their customer needs lessons on capital preservation, risk management, trader psychology and trade management.
After all, a trader will be able to give business every day if and only if he has enough (financial and emotional) capital to trade another day. SO it is in Zerodha's interest if their customers are profitable. Hopefully some of us will be able to take benefit of their initiative and help ourselves become profitable.
Again, thanks to Sachin and his zerodha team, for raising the bar for broking firms in India, our expectations from them keeps growing.
All the best...!
Hi All,
I wanted Nithin to answer this query, and this is what he replied to what linkon7 had posted.....
Thanks Linkon for your words, Traderji has given us an amazing platform to bounce our ideas of active traders in the market. Wonder why no one has ever done it before... Anyways, I personally am making note on every single feedback being posted and we are hoping to be most customer friendly trade facilitator in the next 3 months.
..All our clients would know where to reach me personally, would love to get all feedbacks on all that can be improved with Zerodha...
I have been associated with capital markets for almost 13 years( most of it as a professional trader)... Over these years, I switched brokers many number of times, took a sub-broking license, managed many portfolios and got to interact with all kinds of people involved in the capital markets.
The conclusion I came to was that, most of the people are really cold towards what happens to their clients.
When a new client goes to a broker with a margin cheque, the RM is given a target of making atleast 50% of that as brokerage...
Tips are decided over drinks by big broking companies to meet the monthly brokerage targets...
Products are offered to client without keeping his interest in mind... and so many other things that all of you must already be aware of...
When the idea of Zerodha came through, it was to breakaway from all the typical broking firms(not just in price, but also in the way we support)...
As Sachin had put it in a post before, trading is a battle, every day we battle over our trading systems, fear and greed. Reduced cost helps your trading system become more profitable, but that's not all there is to it...
Today I receive mails from a lot of people saying they are for the first time able to make money of the markets. But what I have realized is that they make up for only 10% of our active traders.
Trading on Zerodha is , like having a ferrari to compete in a race where everyone else is driving a ford. There is no point of having a ferrari if you don't know how to use it..
We are trying to figure out ways we can be of help for traders who want help on their trading. Thing about trading is that there is no one right way of making money, people who claim that they know are just fooling themselves.
We will definitely not get into the business of giving tips, tips are what really hurts people in the stock markets. People don't want to accept it, but it is like when a kids mother does his/her homework in school, helps no one...
We also don't want to get into making presentations on the same boring indicators that every other book in the market carries.
We are working on a very interesting trading system to help all those who need it...
Also, Trading like music is god gifted. Not everyone can be good traders, it is very important to have a stop loss on every trade of yours and on TRADING itself. Not something that your typical broker would do, but we are contemplation on having a f&o rehabilitation center for people who accept that they are addicted to it even if they know they can't make money of it.
We men have big egos and don't want to accept defeat. But a lot of times in life it is very important to know when to retreat...
I have gotten calls already from a lot of big brokers trying to figure out why we are trying to spoil the market. But what I can tell you all is that online broking can be done this way and can be very profitable. I was watching the movie Rocket Singh the other day and I realized that we are doing something very similar today with stock broking...
We have just started, I hope all of you will spread our word, we will over the next year take all the feedback and try our best to make Zerodha the best place for traders(in price and service)...
Do drop by our office whenever you are in Bangalore,
Wish you all a very merry christmas and a happy & prosperous new year..
Nithin
I wanted Nithin to answer this query, and this is what he replied to what linkon7 had posted.....
Thanks Linkon for your words, Traderji has given us an amazing platform to bounce our ideas of active traders in the market. Wonder why no one has ever done it before... Anyways, I personally am making note on every single feedback being posted and we are hoping to be most customer friendly trade facilitator in the next 3 months.
..All our clients would know where to reach me personally, would love to get all feedbacks on all that can be improved with Zerodha... I have been associated with capital markets for almost 13 years( most of it as a professional trader)... Over these years, I switched brokers many number of times, took a sub-broking license, managed many portfolios and got to interact with all kinds of people involved in the capital markets.
The conclusion I came to was that, most of the people are really cold towards what happens to their clients.
When a new client goes to a broker with a margin cheque, the RM is given a target of making atleast 50% of that as brokerage...
Tips are decided over drinks by big broking companies to meet the monthly brokerage targets...
Products are offered to client without keeping his interest in mind... and so many other things that all of you must already be aware of...
When the idea of Zerodha came through, it was to breakaway from all the typical broking firms(not just in price, but also in the way we support)...
As Sachin had put it in a post before, trading is a battle, every day we battle over our trading systems, fear and greed. Reduced cost helps your trading system become more profitable, but that's not all there is to it...
Today I receive mails from a lot of people saying they are for the first time able to make money of the markets. But what I have realized is that they make up for only 10% of our active traders.
Trading on Zerodha is , like having a ferrari to compete in a race where everyone else is driving a ford. There is no point of having a ferrari if you don't know how to use it..
We are trying to figure out ways we can be of help for traders who want help on their trading. Thing about trading is that there is no one right way of making money, people who claim that they know are just fooling themselves.
We will definitely not get into the business of giving tips, tips are what really hurts people in the stock markets. People don't want to accept it, but it is like when a kids mother does his/her homework in school, helps no one...
We also don't want to get into making presentations on the same boring indicators that every other book in the market carries.
We are working on a very interesting trading system to help all those who need it...
Also, Trading like music is god gifted. Not everyone can be good traders, it is very important to have a stop loss on every trade of yours and on TRADING itself. Not something that your typical broker would do, but we are contemplation on having a f&o rehabilitation center for people who accept that they are addicted to it even if they know they can't make money of it.
We men have big egos and don't want to accept defeat. But a lot of times in life it is very important to know when to retreat...
I have gotten calls already from a lot of big brokers trying to figure out why we are trying to spoil the market. But what I can tell you all is that online broking can be done this way and can be very profitable. I was watching the movie Rocket Singh the other day and I realized that we are doing something very similar today with stock broking...
We have just started, I hope all of you will spread our word, we will over the next year take all the feedback and try our best to make Zerodha the best place for traders(in price and service)...
Do drop by our office whenever you are in Bangalore,
Wish you all a very merry christmas and a happy & prosperous new year..
Nithin
Friends,
Only recently I decided to open my trading account with Zerodha and I'm still in the process of completing my formalities. I just wanted to share some of my experiences , especially with options trading and how I believe Zerodha might open up new strategies.
I've been getting killed by costs in option trading by my current broker (ICICI) and its interesting to notice how costs play a role on the psychology of trading. While I say this, I do not automatically mean that by bringing our costs low we will win, but it will give us a different and possibly the correct perspective on options trading.
Let me give you a live example from last week and demonstrate the correlation between costs and psychology.
On Thursday 23rd Dec, I bought 20 lots of NIFTY 5900 CE @ 104. Up until Friday 11 am this call came down to 91. But the most interesting fact was , NIFTY had tried and failed 3 times to breach 5960 moving the odds strongly in favor of a bounce back.
My call at 91 was now playing on my mind not because of the loss, but the cost. Logic was dictating that I should hold this call or maybe even buy more.But cost was playing on my mind so I closed the call at 95 - at a loss and huge cost. 2nd half of friday saw the NIFTY cross 6000 , and the odds were all pointing towards that. The NIFTY 5900 CE ended the day at 145.
What is the point - the point (for me atleast) is that cost was on my mind when I should have taken decisions based on what the CHARTs and SCREEN was telling me. With Zerodha, I expect to now only focus on merits of the trade with my breakeven being at 0.25 - 0.30 points.
In Summary
- You will still lose money if you are a bad trader, zeroda or any other broker cannot save you
- Most importantly for me, what zeroda will do is free my mind to focus on the right things and thats a BIGGER MUCH MUCH BIGGER contribtion ZERODHA will make for me.
So lets all still focus on learning how to trade and not expect that low costs automatically mean winning - because that would be asking for a lottery and markets are actually not lotteries.
Thanks,
Ravi.
Only recently I decided to open my trading account with Zerodha and I'm still in the process of completing my formalities. I just wanted to share some of my experiences , especially with options trading and how I believe Zerodha might open up new strategies.
I've been getting killed by costs in option trading by my current broker (ICICI) and its interesting to notice how costs play a role on the psychology of trading. While I say this, I do not automatically mean that by bringing our costs low we will win, but it will give us a different and possibly the correct perspective on options trading.
Let me give you a live example from last week and demonstrate the correlation between costs and psychology.
On Thursday 23rd Dec, I bought 20 lots of NIFTY 5900 CE @ 104. Up until Friday 11 am this call came down to 91. But the most interesting fact was , NIFTY had tried and failed 3 times to breach 5960 moving the odds strongly in favor of a bounce back.
My call at 91 was now playing on my mind not because of the loss, but the cost. Logic was dictating that I should hold this call or maybe even buy more.But cost was playing on my mind so I closed the call at 95 - at a loss and huge cost. 2nd half of friday saw the NIFTY cross 6000 , and the odds were all pointing towards that. The NIFTY 5900 CE ended the day at 145.
What is the point - the point (for me atleast) is that cost was on my mind when I should have taken decisions based on what the CHARTs and SCREEN was telling me. With Zerodha, I expect to now only focus on merits of the trade with my breakeven being at 0.25 - 0.30 points.
In Summary
- You will still lose money if you are a bad trader, zeroda or any other broker cannot save you
- Most importantly for me, what zeroda will do is free my mind to focus on the right things and thats a BIGGER MUCH MUCH BIGGER contribtion ZERODHA will make for me.
So lets all still focus on learning how to trade and not expect that low costs automatically mean winning - because that would be asking for a lottery and markets are actually not lotteries.
Thanks,
Ravi.
Hi ...All
Merry Christmas and Happy New Year ....
Trading More than 3 weeks with Zerodha....
I am very much satisfied with the Sofware (NOW) , Excellent Brokerage (thank God I dont have worry about minimum brkg commitment )
Rarely I face disconnect issue and software reconnects in blink of eye ..It does not at all feel like disconcect
only Am waiting for back office upgrade .....
Brkg and Sofwatre were only my concern while selecting brokerage ....
Only thing lacks is there no facility to transfer intraday data to charting sofware like amibroker ...I wish such feature should be there ..(ODIN has facility which saves data in harddrive )
Hope NSE upgrades its charting facility soon ....
Merry Christmas and Happy New Year ....
Trading More than 3 weeks with Zerodha....
I am very much satisfied with the Sofware (NOW) , Excellent Brokerage (thank God I dont have worry about minimum brkg commitment )
Rarely I face disconnect issue and software reconnects in blink of eye ..It does not at all feel like disconcect
only Am waiting for back office upgrade .....
Brkg and Sofwatre were only my concern while selecting brokerage ....
Only thing lacks is there no facility to transfer intraday data to charting sofware like amibroker ...I wish such feature should be there ..(ODIN has facility which saves data in harddrive )
Hope NSE upgrades its charting facility soon ....
Hi Columbus,
Back office has all the required menus and reports.. Works on ajax technology and hence faster then traditional back office reports... What we are working on is to make it visually more appealing so it becomes easier for you... But otherwise, all the reports are available, do leave your number will take you through all the menus... cheers... Sachin
Back office has all the required menus and reports.. Works on ajax technology and hence faster then traditional back office reports... What we are working on is to make it visually more appealing so it becomes easier for you... But otherwise, all the reports are available, do leave your number will take you through all the menus... cheers... Sachin
Flate brokerage rate may not be so profitable for small traders. This is a psychological matter when you can get more with same price you will definitely try to grab more. This may yield poor money management .Here I am quoting few lines from Special Report on Money Management by Van K. Tharp, Ph.D
Ralph Vince did an experiment with forty Ph.D.s. He ruled out
doctorates with a background in statistics or trading. All others were
qualified. The forty doctorates were given a computer game to trade.
They started with $10,000 and were given a 100 trials in a game in which they would win 60% of the time. When they won, they won the
amount of money they risked in that trial. When they lost, they lost the
amount of money they risked for that trial.
This is a much better game than you’ll ever find in Las Vegas. Yet
guess how many of the Ph.D’s had made money at the end of 100
trials? When the results were tabulated, only two of them made
money. The other 38 lost money. Imagine that! 95% of them lost
money playing a game in which the odds of winning were better
than any game in Las Vegas. Why? The reason they lost was their
adoption of the gambler’s fallacy and the resulting poor money
management.
So take care about money management along with brokerage So that you need not to be seat along with Ralph Vinces 38 doctorates.Best of luck.
Ralph Vince did an experiment with forty Ph.D.s. He ruled out
doctorates with a background in statistics or trading. All others were
qualified. The forty doctorates were given a computer game to trade.
They started with $10,000 and were given a 100 trials in a game in which they would win 60% of the time. When they won, they won the
amount of money they risked in that trial. When they lost, they lost the
amount of money they risked for that trial.
This is a much better game than you’ll ever find in Las Vegas. Yet
guess how many of the Ph.D’s had made money at the end of 100
trials? When the results were tabulated, only two of them made
money. The other 38 lost money. Imagine that! 95% of them lost
money playing a game in which the odds of winning were better
than any game in Las Vegas. Why? The reason they lost was their
adoption of the gambler’s fallacy and the resulting poor money
management.
So take care about money management along with brokerage So that you need not to be seat along with Ralph Vinces 38 doctorates.Best of luck.
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