Comment on PI – OVERVIEW AND FEEDBACK - Part 2

George P commented on 11 Jan 2015, 01:14 AM

Dear Nithin ,
I would like point out few things ,
1.lets start with your one comment “I was saying, the last time around we realized that most of our time was spent answering and supporting people who hadn’t placed a trade with us also. “Though I am a active trader (I generated 5645 rs from sep to dec and total brokerage with all the taxes was around 11 k)

2. I would like to say why would I place an order over ZT with limited features and Pi which was not working. As a scalper I mainly depends on the charts . After the critical update ZT terminal was working fine most of days . But charting in ZT was barred from any indicators , and zoom in ( a basic feature) was limited . Now I will be using ZT to place an order only and to see NSE, BSE THE LIVE TICKER) . You know Nithin I can actually see those data in my windows mobile NSE app. 🙂

3. Nithin you are a dynamic CEO , I love you for that . Those who place trade ZT last month either they are having another platform to look at the charts or they are purely gambling . 🙂 I dont have any other platform to look at the charts . So why I would take the risk of gambling (I know You need luck and timing in trading also still ) as I am a scalper.

4. All those 45 – 50 k people who are in Zerodha family are not HNI , superactive traders I guess (I may be wrong ) . Most of them like your business policy . You brought a revolution “Discount Brokerage ” others are following you steps. Zerodha became so popular because you listen to the people and caters their needs . And you know Nithin in this market panics a lot , it applies to Zerodha family members also . When Pi was not working and at the same time ZT crashed you I panicked , like me lot of other people they must have panicked . I lost 40k . I appreciate that You told us that you will refund the brokerage and You have done it , but I lost 40k because of this technical glitch. So Nithin I will not put my hard earned money over a faulty trading system. Now as per you those who didnt put their hard earned money (again I dont have any other trading platform , I didnot have that amount of money to buy expensive live data feeds ) they are inactive trading . And who must be a gambler or have other trading platform as they have more money are active traders !!!

5. About you comment on Sharekhan ,
Sharekhan is a full time old brokerage house , they have their own HNI’s and lot of small time retail investor and traders have paid a huge amount of money as (costly brokerage ) , but Zerodha’s business model are totally different from Sharekhan , You are Discount broker (a life saver for the small retail investors and traders ) . Zerodha’s CEO replies to all the members and few non members ( people loves you for that ) . People , I love you because You reply to all the queries . You fair in your business . You know there are few more Discount Brokerage houses offers same brokerage or than You . Still I am with you because of the love for Zerodha . For You Nithin . Thats the only reason people are joining you . Because others are offering Nest , almost same brokerage . So when you said “…..spent answering and supporting people who hadn’t placed a trade with us also. ” I felt little bad . People , I will place trade if we got the basic things are working fine . ZT ‘s chart was untraceable ad the indicators were not there . If You had given them the OLD ZT with all the charts and indicators I dont think that you could ever say this active or inactive traders . 🙂

6. Now Pi , I have beta tested it and it was a refreshing experience until that D-day when you upgraded your servers and everything went wrong . Now you are saying people have to generate 300rs as a brokerage for a month . That counts 3600 rs brokerage a year . Say I dont use Pi for placing a order (or generate your mentioned brokerage) for a year , I will be qualified as a in active trader so I have to pay 3600rs as a platform using fee ! What do you say I am occasional trader and I do mainly investing as your brokerage charges are competitive , for investing also I do need to look at the historical and weekly charts of the particular stock , He/she has to pay for the trading platform uses charge . Dont say he/she can use kite , trade.zerodha or ZT , as they either dont have charting and ZT charting is unspeakable . So that that investor has to pay max 20 rs+ stt and other charges + platform uses charges !!!!! I think again a panic will start spreading . 🙂 For a trading scalper like me its oki , but for positional trader , occasional trader it will be a costly affair. Your platform usage charge alone will make you a moderately charged brokerage house.

7. Now before charging upfront money or your desired brokerage ,
a . First make Pi a stable trading platform. Let the traders regain confidence on Pi.
b. Let it run on all the traders desktop and take the feedback .
c. Do the final release bug free .Make it popular . Add all the indicators .
d. Pi should not be a resource monger application , make it right .
e. In Your blog when you were reply to a member , You wrote we have miles to go to catch Ninja trader or MT4 . By God’s grace You and your dream child Pi will be there one day . When Pi will be very powerful trading platform , that day will you charging us for platform use like the Sharekhan 10000k 😛 or may be more that that 😛

I know making trading software is not a easy and you are burdened by a huge infra cost and You were bog down by many unavoidable circumstances . You did a personal apology for that I respect you for that . I know that it was not you fault , You are great leader . Keep the spirit . I will tell my friends to trade and investing on Zerodha if this business continues (By Gods grace ,I hope that it will ) . These increasing number of love and membership towards Zerodha will compensate your huge infra cost . Always remember we , I love you and Your Zerodha for your business model and the interaction I can have with you . We love you , just dont forget us . 🙂 .

View the full comment thread »