Comment on Pi - Final Beta Release

kars commented on 23 Jan 2015, 02:29 PM

Thanks for the reply. I am sure Pi will keep getting better. The main pain points with Pi for me as of now is (1) chart data not matching exchange/mw ohlc, (2) alerts for various price points, (3) not being flexible to customize color/font/blinking (4) the audio alarms reading the text is annoying (I just need beeps; I will check if Pi already does that in any setting combination) and (5) workspace arrangement and charts templates not getting applied automatically and we have wasting time doing the same settings change again and again.

It is not possible to please everyone. I agree. That’s why it is important to let us customize the look and feel to our liking. When one has to stare at this one app for hours every day, the app should not be adding more strain to the eye. Let us take this blinking in market watch: It may have its place in a dealer terminal, even then the active scrips blink for almost every update, so it is completely useless and only causes distraction and irritation. Please be honest here and answer: Is this blinking has any real use other than making the pictures/advertisements/videos colorful? A visual alert on trend change in market watch is very useful (clubbed with those custom price-points alerts it can be a major advantage of the platform) but this blinking for every update is ….

What I believe is we keep blindly copying others without giving a thought. 50+ years ago, when trades (the updates) happened infrequently, the blinking was probably the right approach. Today, If we add this blinking, we should make it customizable including an option to turn it off. The blink can be clubbed with custom price points, or it can change colors when crossing a set amount or percentage. There are many options to be useful and not be a distraction.

The reading of text in the alert for the sound alarms is another pain point. If you hear 1/2/3 voices starts speaking all of a sudden, will you find it useful or feel irritated? Simple beeps will be a better design as just need to know the app needs attention. This is the way ZT was supposed to work but it had a problem and people complained. We asked for sound alerts on order events and algoz triggers. You took the complaints and worked on it. I am happy that you put effort but have to tell you that the result is an over-engineered solution. BTW, I checked the nestclient.ini for ZT. The wav files are not properly mentioned and after correcting it I get beeps for order events. I would be real happy if that beep is continuous till I click some acknowledgement (or different .wav/.mp3 files for different kinds of events). But I guess I can live with it or find an workaround. (I also got a small program to start beeping if a window pops-up, so I will not miss alert/algoz popups).

The tradescript is a starting point and it has limitations. I am well aware that getting it extended is a difficult task. My doubt here is why you put so much effort (getting alert, ea, scanner based on tradescript) when it cannot be a serious solution? You could have delayed this feature and saved on resources. Infact, I would suggest that having a bare-bones Pi app and selling different kinds of Amibroker bridges coupled with your own datafeed will be a better business tactic.

My biggest doubt is why one has to spend money and efforts if the Pi is not so much different from other apps like odin, now, nest, icici etc. I agree that having control will be a boon to improve many things. But I could not understand why you cannot get this done from omnesys when you are already partnering with them? May be because Reuters coming to the picture?

When I saw the initial announcement of Pi, I was glad and thought it will be a totally innovative solution***. But it seems that Pi is trying to be just a better version of Nest Trader (or Odin) (and still needing much polish and finishing). That is a little disappointment.

But I have to agree that what ever you did so far is already way ahead of other brokers.
I only wish we get to the destination quicker.

*** I initially thought the Pi will be a truly innovative solution. Since Nithin is a trader himself and sound in technical matters, I used to wonder how much innovative Pi will be and how it will help in real “trading”. When day trading, we can use lot of help from the application in position sizing, money/risk mgmt, calculating breakeven points, margins etc. Consider this: I see a chart pattern/scrip price change and click “go long” button and mark my target and stoploss. Then I am presented a completed order forms with the qty and price filled according to my money mgmt settings (and exch lot size). Would it not be nice? Will it not help traders to be disciplined?

For short term or position trading a portfolio especially designed for short term. One of the most useful feature is VTC/GTC order in a stoploss mode. No broker offers this. The GTD order available from icici/sharekhan are profit booking and against trend following strategies. If regulations do not permit a SL order, we can have price point alerts valid till cancelled, with email, sms, even voice call or a real call from support desk in case if large positions. If I have to offer such a GTD SL order, I will also give a exclusion period like 10/20/30 minutes beginning/ending of the market session. The long term investments can use similar portfolio features but can include dividend/CA reporting, re-investment of dividends, even SIP kind of alerts/orders.

Options strategies can get a lot of help. There is a lot of menial work to be done today If the position is little more than simple long or short. The application can have a strategy designer and at a click open multiple order forms pre-filled. If such a feature is there, I am sure people will take more option positions.

Sorry for the long post again. I actually wanted to send email to Nithin personally and not share my opinions in the public forum. But I didnt find his id (should have searched better, I think). He can drop a note to my email if he want to hear more. I am OK if this post and earlier posts are removed from forum and taken to an private email thread.

bye…

View the full comment thread »