Opentrade – learn following star traders
We have stopped accepting fresh subscriptions to Open Trade w.e.f. 25th April, 2018. This platform will be shut-down soon. If you have an active subscription, please create a ticket here for a refund. We apologize for the inconvenience.
Traders,
Over the last 5+ years, we have stayed away from providing any kind of advisory. One of the biggest reasons for us not giving tips is , as a brokerage there is a vested interest in making clients trade, which creates a conflict of interest. We, unlike most brokerages out there, did not want to give tips/advise just to generate revenue rather than for the value of it. Instead, we tried to educate and share knowledge as much as possible using Varsity, Zconnect, and Tradingqna. We introduced backtesting, expert advisors, and advanced charting through our trading platforms Kite and Pi. We built Quant to help analyze personal trading behavior, and more.
We also started the 60 day challenge to give an additional incentive to traders to stay profitable and not just to trade for the heck of it. It got us the desired results, but interacting with our 1 lakh clients, we knew there could be more that can be done to build a community of winning traders.
We observed that:
- Most people don’t have the bandwidth or the background to spend hours trying to master trading the markets. What makes it even more difficult in India is that there is no practical introduction to trading and investing in schools or colleges making it tougher for people to comprehend the concepts.
- People end up following tipsters paying thousands of rupees a month. Such tipsters come with no credibility, and there is no real data to prove whether their tips actually make money or not, and more importantly the nature of tips (buy above this, sell below this, etc) don’t teach you anything about how to invest or trade the markets.
That said, we also realized there is this small community of traders who are extremely talented and passionate. But, the biggest problem they face are:
- Not enough trading capital. A client with Rs 1lk returns 10% in a month which is brilliant, but that is just Rs 10,000, which in today’s world, is not enough to survive trading full time (more than 90% of our traders have less than Rs 1lk in their account). To earn more, he starts over trading taking bigger risks, and eventually ends up making a loss. Most of the times before blossoming into a great trader, the career ends.
Introducing opentrade.in, our answer that will hopefully be the solution to the above pain points. Here is how it works:
- Clients of Zerodha who have a positive track record on their accounts (stars) with us may opt to register on Opentrade. We will select the best traders after careful scrutiny. Their identities will be kept anonymous, and they will all be called by unique star names – Sirius, Canopus, etc.
- The stars will be tagged based on the nature of their trades – investor, arbitrageur, swing trader, etc.
- The Quant reports of their trading activities at Zerodha will be made public on the platform.
- All clients of Zerodha will now have an option to analyze these reports, and follow their favorite stars for a subscription fee that will be shared with the stars.
- From the time you start following a star, you will get his/her realtime trade updates via Email and on the platform. You will also be able to track all open positions and holdings of the stars.
- To ensure privacy, quantities on positions and trade updates will be normalized. Also, trade updates will be limited to only highly liquid contracts – top 500 stocks, and F&O on equity, currency and commodity.
- You will be able to follow one or multiple stars of your choosing.
By putting up these talented stars on a pedestal, we give them an opportunity to earn an additional stream of revenue and stay focused and profitable in their trading activities. The more profitable this star stays, more number of paying followers he will add, ensuring that the star focuses on using his talent to carefully pick trading and investing opportunities.
As a subscriber, learning from and tracking star traders live should give you the leverage needed to push yourself to be a part of the winning community.
We are going live by end of Jan 2016, if you wish to get on the invite list visit opentrade.in
If you are a profitable trader with a good track record and like to be featured as a star, you can raise a query here
Please note: Support for Opentrade will be online-only and the Zerodha support team won’t be able to answer any queries on the phone.
Happy Trading,
Nithin Kamath
CEO @ Zerodha and partnering startups through Rainmatter to help grow and improve the capital market ecosystem in India. Love playing poker, basketball, and guitar. @Nithin0dha on Twitter. | Personal website: https://nithinkamath.me
One more weapon added on zerodha’s arsenal.
I joined Zerodha very recently. This kind of innovations none can even attempt.
I hope to benefit from this.
When it will be live
Some regulatory issues, very soon.
is their any option in Open trade that our trades get automatically executed as per our following stars?
No.
hi Sir, now a days i cant see the latest winners blog in 60 day challenges. what happen?.
Dear sir..
Does opentrade.in works on Android phone as screneer.pro doesn’t work..pls clarify.
Zerodha was about to start opentrade in the end of Jan 2016. What happened?
Small little hurdles, we will update you on the latest status soon.
Eagerly waiting on updates regarding opentrade.in
what kind of hurdles Nithin can you please elaborate?
The beta of opentrade is live now.
Dear Nitin,
I appreciate your efforts to improve upon the trading experience but few things I would like to put here for your organization primarily and your clients in general. These are not sugar coated words…
Observations:
1. Your customer service is not at all professional. Most of them do not even know what are the organizations capability, products and services etc.
2. When you have problem they will try to push it on you and pretend as if there are not responsible for anything.
3. Recently I took OPENTRADE. There is not way to purchase single credit and you have to purchase 5 credits. Now if you do not like that particular “Star” trading portfolio you want to change to the next, you loose your credit. This is crazy. The customer should be able to browse through any star within the 1 month period.
If I do not like the service then I cannot refund and what happens to to other 4 credits if I have not availed of it. This does not show any professionalism. I am actually facing these issues.
I hope you will look into it.
Regards
Anand
Anand, let me check on this. If you want the 4 credits reimbursed, you can always send an email to [email protected]
Hi,
Thank You for creating such a good tool.
but i have one question why don’t you provide option to buy one credit on OpenTrade.
it will be help for small or learner people
What is the criteria for getting selected as star trader ? How will u evaluate the performance ?
Hi Varun, Please write to us on [email protected]
Wounderful …. Thanks Nithin Sir
i love u nithin sir…i want bo-co on kite plssss
excellent initiative by Zerodha. – looking to learn from the best in the business! 🙂
Where every broker working here just for making money by charging high or providing tips asking customers to trade very often I have seen traditional brokers trading in customer’s accounts, Zerodha is the first and perhaps only which is trying to help traders to learn how to trade better themselves, it shows Zerodha is not here just for making money. If there would have been history of Indian Stock Brokering Time should be divided into Pre-Zerodha and After-Zerodha 🙂 Well thanks of making Indian stock traders to international level. Opentrade will be very helpful for many traders and it will be far better than Tips providers who don’t bother about money management, It would be great if trades of STARS are notified real time in trading terminal too. I checked KITE (web based trading) recently and WOW !!!! trading experience in KITE is superb. I have never liked web based trading before using kite.
Its smooth fast and does perfectly what it is supposed for. charts are better than nest plus. Even on mobile it performed better Nest Mobile. Congratulations !!! Team Zerodha for Kite and Opentrade. 🙂
I agree
Yeah.No doubt in that.Kite is exceptionally good and user friendly.But lately,kite as well as Q(backoffice app) is working very slow.And all other sites are working normal(so no problem with my connection or anything).Just having some issues with these two.So as a investor and a zerodha customer,would be really glad if this issue is resolved as soon as possible.
ThankYou
There have been no issues with Kite, Q yes has been slow. We are working on moving away to our new backoffice platform which should fix this issue.
Team Zerodha believes in innovation approach ..and here is another example of it.
Brilliant work..
God Bless you Nithin.
Wow…
A greart idea again. Kudos Nithin.
This is very good initiative and very much innovative.
Nithin kamath can you provide free quoting of all nse bse mcx scrips on a small platform like the metatrader app there is no need for you guys to build a new app dedicated to that kite is good but every time I have to login and provide passwords even if it is to just check the markets the money control app is good but doesnt allow for technical analysis the metatrader app is super awesome and quick for low bandwidth conn (india come on) but so for a forex broker named gci only offers 10 nse scrips I have to make do with that.There is a facility for you other brokers to add there acccount in metatrader you guys can provide a special password for all your account holders to access market data via metatrader I am a zerodha trader
Akhil, we can’t give live data feeds on third party platforms because of exchange regulations. We are about to launch Kite mobile, should solve your problem.
Dear Sir, only one thing in which zerodha is BEHIND is mobile app. I want an app like metatrader or one which can execute orders faster.
Very soon.
hello sir ,
when will open trade start its operation in our platform, can i join and follow the good trader (star). is it in near future
Yes, some list bit of approval process left.
Nitin sir:- one thing i would like to change in zerodha is , policy of pledging the shares for margin…as of now, per script value should be 50k for pledging which is impossible for small trades…plz do something on this…
You will have good news on this very soon.
ok thanks please make an app like metatrader ,low data requirement , quick startup , atleast all the indicators in metatrader 4, no req of authentication for position monitoring and analysis , there is no requirement for trading via the app kite is enough for than purpose.
forgive me if i am wrong but cant you guys associate with the metatrader company there site has an option for this
No metatrader currently can’t be used with Indian exchanges.
What do you mean by normalizing ? I am sure no trader would want his open positions/holdings to be made public
In the first release we wont’ be showing quantity of open positions/holdings. So if I am holding Nifty futures, it will just say Buy Nifty future (will not show any quantity). Only if the star trader is open to showing his positions to the public can become a star on the platform.
Great initiative – However when it comes to F&O hardly anyone who is successful trades naked positions, so with hedging knowing quantities involved is supremely important. One way of hiding actual quantity but still giving the followers the complete picture is to show multiples. So if a star has the following trade setup
FEB NIFTY 7500 PE – BUY – 15000
FEB NIFTY FUTURES – BUY – 7500
FEB NIFTY 7900 CE – SELL – 7500
This can be shown as
FEB NIFTY 7500 PE – BUY – 2X
FEB NIFTY FUTURES – BUY – 1X
FEB NIFTY 7900 CE – SELL – 1X
This will give the follower an idea of the trade setup without revealing actual quantity.
In my opinion a trade setup isn’t complete without revealing the quantities.
Cheers,
Ravi.
Yes Ravi, what you just did was normalization. We will do it soon.
Hi Nitin
Will you pls make it possible to buy one credit at a time so that small trader can buy and follow their star.Moreover star who are using algo trading may not be included as its not possible for small traders to take positions in that high frequency manner.
There is no star on this list who does algo trading.
Great initiative! However, as far as I can see, you still haven’t implemented normalization, have you? Can you please share your release plan? Without some hint of quantity, it is not possible to follow a star trader. Thanks a lot in advance.
Best,
Arjun
PS: I am already a user and I have used 5 credits. However, the ROI is zero since you do not publish quantitities
Also, the portfolio can not been seen for star traders as it just shown ‘loading’ wheel rotating.
Checking on the portfolio issue. It should show with a % weightage. The idea with the platform was to be more educative than anything else. Showing quantity etc, might lead to complications.
Thanks, the portfolios are fixed!!
please let us know the amount quired
Amount for? About pricing, we will let you know soon.
ys agree,
super idea…i think many will be benefited….
yes how is going boy…
Super..bbbb…. always invention of NEW things.. Zerodha
My wish has been fulfilled. Thanks a lot Nithin!
zerodha team !!
you are making unbelieveable moves.. many innovative weapons !!!
its pleasure to be a part of zerodha family where you teach people how to get knowledge to trade rather than to give tips. i congratulate all of you for this great ethics !
thanks ZERODHA team !!!
Awesome initiative. one of its kind. and Win-Win situation for all…..
Good one. It is similar to copy trade or social trading with forex brokers. This kind of trading is provided by most of the forex brokers. In Indian stock market, it is first of its kind from Zerodha.
Regards
Ramana murthy
Zerodha ….
More than a Brokerage House….
Best place to trade with……
Feeling Proud.. to be with Zerodha….
Nithin,
very interesting and highly innovative, Kudos!!
Thanks!!
Great!…way…to go forward…Nitin
I like this idea…..keep adding such new ideas
Think of allowing the star trader alert as semi automated trade on the follower’s Pi terminal, with follower’s position size. I assume you will add drawdown measurement of each star and some way of depicting risk/reward/drawdown ratio of each star’s trade/trades/portfolio
Invite
Dear Nithin
Requires your intervention in bringing all the BSE scripts in KITE Platform. I am asking this to the support team for quite some time but they always say something which is not pleasing me at all.
Also the new tool open trade is going to rock the market sooner than later, as a fundamental investor I would also like to wet my hands in trading as well with help of tradings stars. Kudos
Thanks
Ram, BSE is on its way. Thanks
Nithin Sir. Super. I am proud of that i am the part of Zerodha (Associate Partner)
All the best for the new venture. Wonder how Zerodha comes up with such path breaking innovative ideas. First zero brokerage and now this. All the best.
I am small investor with portfolio of ₹10000. Hardly earn 18 000 pm
How much fee would be charged
If affordable, I would be able to pay
If with 10,000 you can earn Rs 18000 a month, you should enlist as a star on the platform. I am sure there will be many who will pay to follow you.
I think he means that he has a salary of 18k per month.
Hello please give me tips and I will give you some return
sir u r making 18000, with 10000? gr8888.
sg rao
9406081599
ONE question how will trader get benefited by sharing his trades are you guys giving extra money to profitable traders who are sharing their ideas
Yes of course. There will be a fees to follow the stars, and most of this money will be shared with the star.
Sir,This opentrade u mean suppose Mr.X has bought shares in say for eg Ashok Leyland n is sure of going up ,will he give us target where to exit or we have to just follow wherever he exits v too should exit please let me know Mr. Nitin. Thank you
Ashok, you will get to know when the person exited. He will not give target and all of that.
Btw, are you the same Ashok Kukreja, who was our client in the reliance money days. IF you are, it has been a long time, how are you doing? 🙂
Hi Mr. Nitin, Good Evening yes I am the same Ashok Kukreja who was with u in Reliance money. Bcoz of u I have joined Zerodha. Long time, you got married good. I am in the same house plz drop in with your wife we will welcome u warmly. God bless u n ur family. Thanking you, looking forward to meet u .yours Ashok Kukreja
Good afternoon Mr. Nitin, hope u had received my message earlier, sent few days back. I am same Ashok Kukreja, how r u ?. Nitin Sir u have done many things for your clients guided made it easier etc etc. One suggestion selling Equities in carry forward cnc style how much investments that much stock ( on sell) v can buy puts but one thing they keep losing premium n the other is the size of lot is very big. So as u have introduced many good things y can consider this just suggestions. Yours Ashok Kukreja
Hi Ashok, you should come to our office sometime. We are very close to where we had the reliance money office. Carrying forward equity shorts are not allowed in India, until the regulators put a mechanism we can’t do it.
Hi Nithin,
Awesome Initiative, Zerodha Proves Excellence & its just a Start…i Hope many more to come in future.
One suggestion of mine, In Pi Charts “Fibonacci Retracement” is there,you guys should add “Fibonacci Extension” tool as well in Pi, it will help Traders more.
Keep it up..!
Yep, after the next release of Pi which is planned in a few days, we will start working on adding new indicators and tools.
Sir,This opentrade u mean suppose Mr.X has bought shares in say for eg Ashok Leyland n is sure of going up ,will he give us target where to exit or we have to just follow wherever he exits v too should exit please let me know Mr. Nitin. Thank you
Hi Nitin, Could you give up a heads up as to what are the new indicators and tools your will be adding ?
On Pi for now no new indicators. We are making those fixes like changing time frame from within the chart and all of that.
Pi tools
1. Fibonacci extensions, ray and channel tool would be much appreciated.
2. In Fibonacci extensions and retracements it would be nice to also have an option for user defined Fibonacci percentages.
3. By using a short key to snap to candle/bar High and Low while using tools would be a really helpful feature to have.
sir, when u introduce next updated pi please add andrews pitch fork (apf) and wooddies cci indicator sir please its my humble request.
Also people who started following star trades if its not against the rule can u all share ur experience, means able to catch star traders trade, how profitable it is compare to ur earlier trade. coz I to want to start following…….
regards
What about Trend Blaster Indicator, would it also be added in new version of Pi, Also when the new version of Pi is scheduled to be released. We are eagerly awaiting new version of Pi & Mobile version of Kite.
New release of Pi maybe next week, but this one won’t have new indicators as such. You will be able to switch timeframes from within the chart.
I cant get answer for my questions.
1. When Kite Android will be released.
2. When Pi will get Trend Blaster Indicator along with other indicators.
1. Next week we are doing a private alpha release. You should get it very soon.
2. We have a new release planned for Pi next week, after this release we will start working on adding new indicators.
Dear Nitin, when the next week is coming, I could be able to trade only if Kite along with updated Pi be available as Pi current version is unstable, sometimes I am unable to login for long.
There is no issue in Pi in this version also, the new version has new features. Can you send an email to [email protected] with your client ID.
Zerodha promises are quite slow.
1) Kite Mobile is still pending and no feedback till date.
2) Pi updated version still not available despite several times next week promised.
1. Can you send an email to [email protected] asking for beta access.
2. This will happen this week most likely.
Hi Nithin,
I am new to zerodha and interested in pi back testing. Is there any training i can attend or one webex sessions with somebody from zerodha to understand the testing thoroughly.
Aljo
Teaching to code strategies is not very easy, I guess you will have to learn this on your own. But check this link on expert advisor, here is sample codes, you can get the user manual from within Pi, and ask all your coding related questions here.
Innovative way thanks nithin
HELLO NITIN sir
please if possible add super trends analytical program in ur pi platform it will b of grt use.. thank u
Mind blowing concept Nithin! Cant wait to see it in action! All the best
Can we see mobile version of Kite?
when you are going to launch of Kite android(Mobile)
Soon, we are testing it.
“more than 90% of our traders have less than Rs 1lk in their account” one reason could be safety of the money.
Please refer: http://insiderview.comparebrokerages.in/orion-broking-bankruptcy-lesson-to-learn/
Can you think of pioneering transparency of a brokerage firm on daily basis (on the margins provided etc..) ?
Hmm.. don’t know if this is possible.
Best innovative idea till now. I’ve more than 1lk rs last year. This is the best chance for me to start with new hope.
They should not charge for atleast one month so that people can judge them and decide wether to subscribe him or not.
Thank you nithin sir.
Sir, when is the Kite mobile app coming up?
Sir we want better. Trading software to trade. for windows Phone users..plz
pl make an app for ios too
Sir this is good initiative but as you told that 90% of your clients have less then 1L their acc. So we all are small treaders. But it is very unfortunate that from 1 Dec. 2015 Zerodha have changed policy to provide colletral margin on pledging equity holding now minimum equity value must be above 50K to get margin for trading. So plz change this rule and provide us flexibility to pledge any value equity to get margin for treading as small invester don’t invest 50K in single equity !!
So please review your policy as earlier so that we can tread.
Regards,
Vijay
Yes vijay, you will get some good news on the pledging side very soon.
Thank you so much Sir waiting for good news on shae pledging.
Add me
Our’s Zerodha Mobile software is not good and its very slow for windows phone..its take 5 mint to trading plz update this ….. Like kotak security…….
Zerodha
Hi Nithin,
Superb !! . What will be the subscription fee ?
Will share with you all soon.
This is the concept prevailing in developed markets, was waiting for a long time to get implemented in Indian markets. Glad that Zerodha is introducing it.
I have already following the similar concept, subscribers who are following me, instead of sending SMS/email alerts to subscribers, the system will place automatic orders on all customers account immediately. This is made possible using Symphony Fintech Algo execution platform.
Can Zerodha implement the feature of auto trades on subscribers account? If possible,it would be great, then I can move all my existing customers to Zerodha platform from Composite Edge.
Thanks,
Karan, technically it is very easily possible. The issues is with regulations, doesn’t allow it.
Nitin
There is no basket order yet in pie .. I have been told that it will be added from last few months , unfortunately its still not added .
I need this option soon
Now i dont even feel opening nest after using pie .
Kindly work on this
Let me follow up with the team.
This is something out of the box idea, great going zerodha, super. I made a right choice by trading with you guys. Hurray.
Thanks Nithin sir,It is great idea,
how the star will be paid.. on what basis??
if he gas the followers of 10 members..
then how he will earn..
per person how much will be paid??
weather it will be paid on profit percentage or fixed??
How much exact number will be shared with the stars directly, but majority share will go to the star. It won’t be based on profit percentage and all.
Sir, How to download kite on laptop any link u r giving I have already downloaded pi. Please guide Thanking you
Kite is a web application, just login to kite.zerodha.com on your web browser. This http://zerodha.com/z-connect/tradezerodha/kite/kite-introduction explains how to use it.
instead of asking to follow other traders why don’t you make effort to bring them together to conduct few sessions and provide training so that any one can learn and trade.
we want to learn fishing don’t want fish
Like I have said in the post earlier, I think the best way to learn driving is by sitting next to a good driver and experience what he is doing.
Nitin, you are absolutely right. will the stars share the details(later or end of the day). why they selected the script for buy and what the reason for exist so and so. if they explain really will help for learning
How this will be helful for intraday
There are profitable intraday traders with us. You will be able to learn how they stay in profit.
It is very good idea, but how one chose a star from the list of stars to follow him , how can we judge who is the best to follow so that we can make more profit and also the star make more money for his afford…
WE will share performance reports with you to choose from. You will also be able to see their favorite contracts and all. More number of followers would mean, Star earning more.
Mr.Nithin it is a very great idea and so far no one got this type of idea. We have to wait and see how it works. any how I want to try this method.
Nitin ,
great initiative to help small individuals like me .
Would it be possible to categorize star traders in Open trade based on scripts for example i would like to follow a star trader in Reliance and match my compare my trading accordingly.
Is that the way its going to be ?
a)I also read one of your comments on the next release of Pi . Please consider the volume bars in color. It will make life easy for trading on Pi.
b) Lock position for horizontal lines so that they dont shift on scrolling.
Honestly i like to share here that indicators in charts are a industry by itself, The more you use them the crazier you will get. Stay simple & watch the screen .
Quant contract wise report will be shared of the stars, so yeah you will be able to see which are the star traders fav contracts. We will not categorize base them on that though.
e best in the business
superb !!! excellent … keep innovating … I am very sure that u will some day bring some excellent such innovative plan for sub brokers also….
That is super news
Good job ZERODHA again.
That is good idea.
Couple of questions
1. How do the followers know where to exit. Will there be some kind of alert? Watching all the time is not feasible.i guess, Sl orders will not be revealed.
2. How will stars know who r following. Should they chat with the followers.
3. How will one learn the ideas behind the trades. I guess no star will disclose his idea.
1. You will get to know as soon as the star has exited
2. We don’t want any interaction between star and followers. Will put unnecessary pressure on the stars.
3. If you keep following the star, I think u will start getting a hang on what they are doing very soon.
New year and a new great idea too.
Wow… Now that’s awesome.. Great thought Nithin.. Just one more request.. Please consider launch of kite as mobile app as soon as possible.. Current app is really not worth it..
How is a profitable trader identified? I might be in a notional loss now but I may be invested in fundamentally good stocks which will go up soon, say based on results?
Profitability in terms of booked profits.
I have over traded in options and lost lots of money, currently in net loss of huge amount taken over loans. I don’t even have capital to start with.
My only mistake, over trading in options.
I can share positional equity trades which will be profitable for cash delivery based investors. I see a hope that this Income can generate funds for me to raise capital. Is this possible? I am not a paid tip provider or financial adviser in personal life, but I have good sources in non-f&o related stocks.
Great idea. Would like to take advantage of this whenever you launch.
Dear Nithin,
Very good initiative..
Pls prepare a list of FAQs for the STAR initiative & share.. Lot of clarity is still require how it will be executed..
Many Thanks
Hello
There is one option in icicidirect called click to gain n click to invest where they provide intraday, weekly n month short or long tips (85% accurate) for free. I think zerodha should come up with such options too…
Bhavesh, I guess we both know this that there is nothing called 85% accurate tips. 🙂 , if they were, we both would definitely not be getting it – especially for free.
When are good till cancelled orders coming on kite?
On our list, will take some time.
Amazed to hear the new idea Nithin ! Will all the guys having an account with Zerodha be allowed to join OPENTRADE ? If the answer is YES, it’s awesome 🙂
Yes. 🙂
Zerodha is simply superb.. it’s a great innovative idea to give something to the customers when most of others take everything from them. thanks for helping others to grow.. we are with you Nithin Bhai !!!
Hi,
How about traders who are profitable with other brokers, can they also apply and switch to Zerodha?
For now star can be only traders with Zerodha. Btw, you can send an email to [email protected] with tradebook, contract note etc. We could probably do something.
Thanks
Who it work in opentrade pl call 09862649698
Wow, what an idea Sirjee. Long live Zerodha.
Can I expect something like PAMM accounts in future??
Hmm.. the regulations around it are grey, so maybe not until we have clarity.
Is it possible to share the strategy of the star we intend to follow?? Only then its good..
Strategy is something the Star will not share.
Amazing,the things you guys at Zerodha think up. Terrific idea !
Very good move.I’m a big fan of zerodha.it’s a win win situation for every one.
Dear Nitin ,
You are rock start & super duper mega star zerodha & team rocks i am so proud of you
Wow….u guys just nailed it….Excellent Job !!!
how one will get access to this new initiative?
You can get on the invite list by visiting opentrade.in, we will let you know once the platform is live.
Very useful, Thank you sir
NIthin sir, Please update Zerodha Mobile for Windows Phone users. Its taking more time to load and to use. If good version provided, Zerodha is the only mobile app going to rock compared with all other brokerage firms.
Suresh, Kite android will be out soon followed by IOS. Windows, hmm.. it might take time.
Dear Nithin
My sleepless nights start today. Great idea. Eagerly waiting for the event. Thanks..
I’m newcomer to trading and I Like zerodha..Nitin…if you provide kite mobile app..make sure it is available for BlackBerry also..my personal request..
Great initiative !!!
Would be great if you can share the subscription fee ?? Atleast aproximately.
Will it be based on the stars rating?? And it varies from one star to another???
Please clarify. THANKS
We are thinking of around Rs 500 per star per month.
Reasonable
Many Congrats to Zerodha for this initiative …
Following requests are still pending, I wish they will be fulfilled soon…
1) Bracket order in commodities in Kite and PI
2) Kite on Android Mobile
3) Draw Down Control setting at least for intraday (MIS) trade. This way position will be auto squared off if it goes below certain “User Set” draw down level , which may be some fixed amount …say 500 Rs. or which may be % of capital say 1 or 2% draw down limit. This will enforce loss control discipline for loser like me.
4) Easy(using keyboard) or Auto Scrip shift in Kite Charts. Manually clicking is Really cumbersome.
5) Price voice alert in Kite — If scrips crosses above or below set value, user gets a voice/popup notification.
6) Paper trade on Charts facility. There should be a Big historical database of many years and a facility for a trader to practice mock trading with some Virtual Cash. This way trader can sharpen his skills himself.
7) Some Programming language to create own indicators/system for kite.
warm regards,
:), yep, all on our list of things to do.
Hi Nithin,
If possible please add SL order in BO and CO like we buy shares using SL(MIS) normal order at exact price .if this happen we can take more advantage of bo and co and can trade with high quantity()
Thanks a lot. zerodha only think about trader’s life, you are really great.
NIce work, hope small traders will be benefited.
your quant charts are pathetic. have provided a few snapshots to your support team, but they are not interested in fixing it. 🙁
Can you email it to [email protected]. Will get this checked.
Hi Nithin,
Great innovative initiative.
Is there a way that you can enable at least semi automated trades such that when a star takes a trade the subscriber gets a pop up screen on Pi where by clicking ok, the trade gets executed?
Also is the fees for subscription a fixed amount irrespective of the performance of the star?
Semi-auto, hmm we might doo something.
Yeah fixed amount per star per month irrespective of how he performs. But you can ditch the star at the end of every month, so he has the onus to perform.
i can not use zerodha pie(window software), because of third party software restricted in pc. i use only kite.
so opentrade feature will be included in kite too ?
Opentrade is a separate website, opentrade.in
Good work…keep it up
Sir,please add trade alert in kite
Thanks in advance
Hi nithin
What i understood is…we follow our star trader and we get to know which script he is buying selling, we should not ask why,obviously… That part we have to understand by the time…is it correct..
What is time laps between order excution and sms..will it be instant as required in intraday
Can anyone please tell me how to follow this or any other topic of Z-connect by email, so that I get updates in email for any comments posted. Sorry to ask this in this thread, but I am unable to keep a track of the discussions , it will be a great help for me if I can get updates through emails.
Thanks
Hi Nithin,
Would this be application to Equlity trading also
THank
Yes
Can we choose another star in middle
Yes
Nitin there may be time lag when we got SMS or mail there will be differ in the rate at which star enter or not and also the stoploss if he already nputed so that one can enter with risk involved or not and can you please reveal whether it is bracket mis or open order?
We will try to deliver it the fastest way. No, brackets, MIS, etc can’t be revealed.
1) other than SMS and email … I think a pop up in KITE or PI itself will do this fastest way!
2) The Star track record Profile should be comprehensive and if possible in one page like myfxbook. Please see the images attached here.
3)Any Star should have zerodha rating as well as follower rating depending upon his performance.
4) Any Zerodha 60 days challenge winner trader should be able to claim Star or atleast Winner position., which should enable him to start his follower business, this way he will be more focused on making right decisions to keep his herd with him.
5) There should be separate options Follow a star , or follow a zerodha 60 day winner. Zerodha may share its 10% revenue generated with zerodha 60 day winner if he gets some following and this way if more brokerage is generated. This is just like zerodha referral scheme. This way if anybody decided to follow a winner he may not have to Pay the subscription charges. Due to brokerage sharing the charges are taken care of themselves. But If one follows to many winners there may be issue with how and which winner will be paid. So for that I suggest give an option to let the user follow one and only one winner on any given day and thats all.
regards,
Zerodha really a innovative company and i like it. I like its logical approach as well as helping nature for public. Long live Nitin ji
Hi Nithin,
Awesome JOB & Too Many Thanks to You and to the Person who has Thought this Idea , For me You and your Team Are the Real Stars in True Sense . Thanks once Again Kudos !!!!
first improve your kite software
Great initiative.. How would you categorize the stars.. Would the stars be identified separately like option writers, traders in nifty futures , stock options , intraday traders etc..
Because each subscriber has a trading strategy. They would like to follow the stars who match their trading strategy.
Kudos to you guys!! Superb thinking.
Very good initiative
If you disclose real time “Trading Activity”, this may impact strategy of Trader.
Additionally, If there are huge Followers, then they may trade identical to their Star.
This will mislead whole game of actual star.
Any thoughts ?
The essential reason for running opentrade is to be a learning tool. Also we are limiting all the activity around liquid scrips, so shouldn’t really matter.
Sir, we expect a better user friendly and improved app of zerodha trading platform…The present zerodha android version app is not so user friendly, had lot of hurdles to put an order in that. And also like other brokers if zerodha starts margin funding for a small interest it would be nice to small investors like me.
on its way, both of them
Nice concept ….Keep go a head .
Superb idea Nithin ji. Is it available for commodities also? Crude oil or Silver?
As a office goer, I need a star commodity trader who trade in the evening. pls arrange someone.
yes & yes
sir
please update all shortcut keys of PI
some tools are tricky in Pi
it will be great for all traders
Check this http://zerodha.com/z-connect/tradezerodha/pi-tradezerodha/shortcut-keys-pi
Dear Sir,
The concept of following star trader is very good. However, I feel, mostly the trades will be in fno segment where the gains as well losses are more. Besides, one needs,substantial fund in his account. Will there be intraday trades in equity segment?
Nevertheless, good initiative by you for a loosing trader like me.
Excellent Nithin sir, you have been an excellent adviser about the market, really appreciate these kind of thinking, Thank you sooo much, this will definitely help us a lot to understand the core of Market…
It is a good idea ,if the Stars are marked as Equity Intra-day Star,F&O series Star,and Option series star etc.
So the traders belong to that catagory can choose those stars.Every star will have certain rules of trading.
Traders have to follow those rules strictly with sufficient margin.Otherwise traders cannot follow the trades.Traders must be ready to take long -short positions when it necessary without any doubt,as per direction of selected stars.Traders cannot quit the position in between the trades.If it do so it will be at their own risk.
Hi nithin sir, can you pls integrate bse stocks with kite..I cant use pi during office hrs…also, too many tools to learn and passwords to remember..pls allow us to trade bse stocks in kite…
Yes very soon.
Indian zulu trade 🙂
There is a system, in Indian trading platform to give a clue , where the markets are heading, and which is sector is lacking (presently BANKING stocks, INFRA stocks)and which one flourishing( presently GAS stocks) , There is /was nothing wrong , on part of brokerage house either full fledged or discount brokerage house , to suggest ALL CLIENTS , which sector to Go for or avoid.. this should not be called as suggestions from TIPSTERS.
though opentrade platform that zerodha , is a WELCOME IDEA , but make it COMPLIMENTARY from team Zerodha or NK…..
Very good idea. I am using kite and it is good but one thing please add bse stocks for trading
No there is lot of demo account trader.here only real money so confident to trade.
AS WE ALL KNOW THAT YOU (NITHIN SIR) IS THE BEST TRADER IN THE ZERODHA FAMILY.
WE CAN FOLLOW YOU OR NOT…………….
I CAN ALSO EARN PROFIT………
Three questions Sir.
1. Will we know before subscribing what order type the star uses? Like he uses SL-M, Sl-L etc?
2. Can we know which scrips the star trades before subscribing? If not specific scrips, atleast letting us know whether he is a nifty trader or other scrips trader will help.
3. How many stars can we expect(approx)?
Thanks!
1. No
2. Yes, you will be able to see contract wise quant report of the star.
3. Depends, we will get to know in 10 days.
Is opentrader facility available only to Zerodha customers or any trader?
Yes.
While all traders are jung ho on this, I dont believe in this approach for the simple reason the more number of traders copying a trader means that the trade wont work, the market is irrational and market moves exactly opposite of what the herd thinks and the star performer will no longer become a star performer. This also shows Zerodha has an internal insight into where the market is headed because it can track positions of various star traders who are profitable and can either front run their own accounts or take leveraged positions against the herd so that they are profitable. As a profitable trader I am aware of all the tactics used by brokerages to stay float…. and neither I want them peeking into what I am doing nor I want them to publish my reports…. This is a clear signal to profitable traders to stay away from Zerodha….. else over a period of time, you will end up making no money….
Like I have said earlier, it is more a learning tool that we are building and not really a copy trade thing that everyone is trying to make it about. Every broker has insights on what his clients trade. As I have told earlier, only people who want to be part of it should email us back.
may i know to what extend you analyze client’s data only profit & loss ratio or A-Z like chart layout time frame watch list etc.,,
Only P&L
Dear Anonymous,
First of all, By posting this as anonymous, you make your post less credible. Your views and perspective are welcome and we respect it. But i beg to differ for a couple of reasons:
1) You assume that traders will follow this trade blindly. While this should ideally happen for their own benefit, there are some key human elements such as emotions, individual personality that play the biggest role in trading…..My poison can be your medicine in trading. Plus the number of people following are not likely to build up enough volume to be able to move markets or trouble market makers.
2) All brokerages will automatically have the ability to slice and dice your data anyway they want. It is just a matter of running a few reports. So it is not unique here…..If you want that kind of protection, you will probably need to be a direct member of the exchange….Also trading is such a random activity that 2 star traders may be in completely opposite positions and still making money based on the strategies they deploy…..There are too many variables for a brokerage house to depend on star traders for front running or leveraging. The way i see it, this is a risk that you would carry but it is a risk that i wouldnt bother about…..My positions are highly insignificant compared to the market (Though i dream that someday i could move markets:)) ….
I think this is a great innovative idea from Zerodha……Yes, it is a good start and ofcourse based on many suggestions above, it will have room for improvement. So full marks there…….
I love this concept. Plus making their open positions available is a stamp of Transparency and Trust. Its an awesome concept Nithin. Waiting for it to go live.
great news to investors of zerodha….i deeply appreciate the step,,,,ur kite platform was superb…recently pending order icon was missing…it was there before u added market watch….plzzz check it. In PI if zerodha could provide 5/15/30/1hr duration menu in a single window of the chart like we do in kite…it will be very helpful…rest of the thing zerodha rocks…
You guys are Rockstars! really innovative really disruptive!
nice initiative…congrats.
(1) when the trades et al open up for the public (customers of zerodha) the full p&l etc need be private.
(2) the market is made of “Bull” and “Bear” struggles for supremacy. Since the “Stars” positions/holdings/trades is to be made open, need to take care that the clients of zerodha (followers) dont go contra trade to force any opposite move of the underlying.
My view only.
The quantities will not be shown directly. And like I said, the idea is to make this a learning/education initiative. The best way to learn driving is by sitting next to a good driver.
Zerodha
Doing great help to traders.
I like kite because of its simplicity.
It will be wonderful if you can provide buy and sell options on the charts in kite.
I know it is available in Pi , however Kite is very simple and elegant.
Re posting In Case Nitin Anna Missed my earlier post,..sorry to repeat.
1) for alert other than SMS and email … I think a pop up in KITE or PI itself will do this fastest way!
2) The Star track record Profile should be comprehensive and if possible in one page like myfxbook. Please see the images attached here.
3)Any Star should have zerodha rating as well as follower rating depending upon his performance.
4) Any Zerodha 60 days challenge winner trader should be able to claim Star or atleast Winner position., which should enable him to start his follower business, this way he will be more focused on making right decisions to keep his herd with him.
5) There should be separate options Follow a star , or follow a zerodha 60 day winner. Zerodha may share its 10% revenue generated with zerodha 60 day winner if he gets some following and this way if more brokerage is generated. This is just like zerodha referral scheme. This way if anybody decided to follow a winner he may not have to Pay the subscription charges. Due to brokerage sharing the charges are taken care of themselves. But If one follows to many winners there may be issue with how and which winner will be paid. So for that I suggest give an option to let the user follow one and only one winner on any given day and thats all.
regards,
🙂 yep vishy, we will try to incorporate as much as possible.
“Nithin Kamath
The quantities will not be shown directly. And like I said, the idea is to make this a learning/education initiative. The best way to learn driving is by sitting next to a good driver.”
I can understand, the strategy of a trader will not be made public. But a follower needs to know the rules and the rationale the trader follows for her/his strategy. Will those be disclosed to the follower?
I want to join Opentrade as a Star trader (have emailed to you). If at all I am shortlisted, only following my trades blindly will not do the followers any good. They will need to understand the rules and thinking I apply to my strategy.
Also, I will appeal to you, don’t just go with the profitability of trader. Get to know if the trader has any system in work, what does the trader expects from the system, what should the followers expect from the trader, the profitability parameters of the system etc.
Hi Nitin,
Super thinking. First making Nil brokerage on delivery trades and now this knowledge following..absolute super..
You are doing things which full service (meaning expensive) brokerage houses are not even thinking at this stage..
cheers
Also, are you planning to bring Mutual funds on board?
Yep, we are testing it out, the platform is ready.
Are mutual funds only going to be available for people with Zerodha demat or also the ones with ILFS demat accts ?
IT will be available for ILFS demats as well.
In continuation of my message above,
The Star traders will have loss making months and profitable months. As happens with trading, the followers will tend to ditch the Stars they follow after a loss making month, without knowing the overall picture of the trader and then may lose out on the profitable months that would eventually follow. They would tend to jump from one star to other and would end up with trading losses as well as the fees they pay. A follower needs to understand the bigger picture, the philosophy the star.
Traders is a group of jumpy people, isn’t it? I should know, because I too have gone through that phase myself.
hi Nitin,
its an excellent initiative. Can we get a trial period for each of the star traders subscription, at a nominal cost of original subscription fees , or free if possible.
This is let us make our mind about following which star traders.
Thanks
harsha
We will share all pricing details soon Harsha.
hello sir, me a toddler in Zerodha , want to become Pirhana . Open trade will be extremely
benefited .
Thanks
I recently switched over from hdfc to Zeroda and find a world of difference. Indeed a great place to be and look forward to many further innovations from the team.
Hi Nithin, open trade is not good idea. One should analyse market on their own, and build their own strategies. Jst blindly following profitable traders won’t work good. No successful trader likes to disclose his trades to other traders. I’m successful trader of zerodha
It’s a very good idea.Traders having bigger heart will definitely tends to help others.There are so many peoples having time & money constraints. Peoples are there who lost lots of money in trading.They wants to trade but not having sufficient time or money or knowledge. If some big hearted successful traders will help these traders & will become there Guru,what is the problem???
Hi,
As a new trader, just want to know how to trade.. Hope this will be very much helpful many new traders like me. Kindly post the fees and other details……. Thanks in advance.
When Kite is going to support BSE shares
Very nice concept…keep it up.
sir
what will be the consequences if a star performer gave a tip and the share wont go in that direction …. all the followers will be doomed
hi nithin,
in kite tgere is no nifty an sensex indicators in extreme top right as like in pi …. if possible please introduce tge indiactors so that we could judge the upside or downside
Swapnik, followers will get trade updates. As I said earlier it an education exercise, this is for learning from the stars on how they trade.
is it compulsory to get paid call only ? if somebody(star/profitable trader) wants to share their ideas and tips without any charges then zerodha charge anything here ?
Milan, there is no concept of ideas and tips. Whenever a star trades, his trade updates can be seen by the followers.
Great idea.
Hi Nitin,
Would you be ranking the stars based on their track record?
No.
Open Trade Platform should be very good initiative. But you should start a some trading classes for Trader because when we should see the market from outside it looks very Better after trading make financial losses.
this is awesome when will this start is there a date
all is going fine.. but we are Waiting for BSE on kite and for Kite mobile app.
Nithin,
How much time it would take from the time a star placed trade to me getting sms/ email? I know it depends on coverage/ connectivity etc. But what is expected latency in best case?
Thanks.
We are testing it out, we will give you numbers soon.
I work on testing too. Wish I could be part of it 🙂 🙂
Your idea is great boss. But my suggestion is if u can make another option like copy opentrades.your brand will be the no 1 in the indian market as well as international,bcoz in meta trader copy EA option is available but still in indian market their is no broker providing same service. I think if you will think about this the more HNI outside india will think about your platform.
Shakti, there is a regulatory challenge in challenge in India. Doing it is quite simple.
Great news for traders like me having time & money constraints.
Nitin sir suppose I know a successful trader Mr X on having Zerodha account.
He is also a Zerodha winner.If his name will not be publish how can I identify that person ? In sprite of all these it’s great step.
It is important that stars get privacy and no additional overhead. People typically under-perform when in pressure.
Hi Nithin,
Just an idea to improve the Open Trade as a day trader:-
Without showing quantity of open positions/holdings, you can show the % of total margin used & update it with every trade, u can use a pie chart too. Then it would be more helpful to learners/followers and give inside info about money management.
Knowing the % of free money in hand to compensate the MTM loss or to add position is the key to money management. By margin used Trader can easily know an aggressive position too. But you must charge little extra for this, as value added service(money management) for showing % of capital used.
Happy Trading and Best Wishes
H.C.
All positions will be normalized. So at any time you would get to know what % weight-age every open position has.
Hi Nithin,
Rather than choosing a set of star traders, All the Zerodha Trading challenge winners should by default qualify as star traders and list them all whoever are willing to participate, and over a period of time a leadership board with automatically emerge…
Rather than selecting stars.. zerodha should define parameters to build the leadership board.. let the leadership board be formed in a nature way… Dont give anyone undue first movers advantage.. give all zerodha challenge winner A Star status.
There are trillion of stars in our Universe, makes sense to have 10000s of stars in zerodha’s opentrade skies too.. 🙂
Regards,
Mahesh Patil
Mahesh, you have too many stars, it will dilute the value of the good ones. If opentrade becomes popular, it will push other average performers to try to do much better as well.
How does it works? Open Trade.in is all blank.
Currently the site is still not live, you can get on the invite list by leaving your email ID.
Hi Nithin, Good initiative.
What about MM (position Sizing) ? This is heart of trading. Say I am following a trade of a star , then I should also know his MM. If he is betting 1% of his capital and some follower bets 20% then results will be opposite.
For the star, we should clearly know his type (day/swing), MM (%bet on each trade), past performance , % win & RR, consecutive losses & largest loss.
For a 60% wining system, its natural to have 12 loss making trades in a row, so MM has to be stressed than just entry & Exit. This will save many of them ….
You will be able to see normalized positions (weight-age) of every star. What % of the capital, currently not possible, but if opentrade works well, yeah definitely in the future.
+1 for this feature from my side too.
If the trading size in terms of % of capital is also known for the trade, then we can really learn about position sizing that the star uses, as well as how he employs pyramiding his position or scale-in, scale-out (if at all). Absolute quantities or amounts are of course not required, just % of trading capital is enough.
If I follow X star and trade his 100% trades than I will become star too. I am sitting with the driver and I know who is driving but other people doesn’t know who is driving so it could happen that someone will sit besides me since i am not driving.
🙂 as I said, this is not going to be one of those etorro kind of a copy trade model. The objective is to educate.
Compound interest of only 20% per month can generate 10,000% end of the year. Consistency is the key in the long run.
Beginners can try to learn about risk control by analyzing every trade rather than just copy trade. Beginners waste thousands of money in useless seminar, open trade idea could be much better with small fee.
Thats why its name is open trade. not copy trade. Good thinking.
Although, open trade would be popular soon only when a consistent trader registered here.
Best Wishes to Team Zerodha.
HC sir, I did not understand your concept of 20% compounding/month. If you have the time, can you please explain it in detail. I am a new trader and these things are new to me. It would be of great help of you can explain this concept, many thanks! Rajesh
Hi rajesh,
U can go through the link to see how a consistent return about only 20% per month an add up to big return in 12 months. Put annual interest rate 20%, number of year 12.
http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php
The key to success in the long run is consistency, to keep draw down (max % of loss from top) smaller. We don’t need to take big risk in a single trade. A consistent trader can easily protect profit and the capital if they don’t take big risk in a single trade. Someone can earn 200%-400% in 2-3 month then loose it all later. This happened to most of traders. But a good trader has risk control in place, there is 22 trading days in a month out of which 5-6 trending days. My personal opinion is a consistent day trader can have loosing day, loosing week but it is rare to loose a whole month.They try to minimize the draw down first by taking minimum risk, then capital automatically increases slowly by compounding. So look for consistency first(min draw down). Best Wishes..
hi nitin
what about ipo
IPO currently isn’t online. We’re looking at ways in which we can offer you this service.
How long does it take to include IPOs into Zerodha….i don’t wish to open another account somewhere else just for buying IPO shares?
Starting January 1st, 2016, SEBI has made ASBA mandatory for all IPO’s. As a result it’s a little difficult to provide online IPO facility for brokers who are not banks.
Cant thank Zerodha enough for what they are doing. Definitely bringing a lot of change to people’s (like me) life… thank you team zerodha…
nithin will you share star risk reward ratio which he used earlier .
excellent Initiative Nitin sir…out of the box thinking implemented In a very simple way… just waiting for an equally good or one of the best mobile trading app….
Sms on mobile available for open trade?
Yes.
Hi Nithin,
If possible please add SL order in BO and CO like we buy shares using SL(MIS) normal order at exact price .if this happen we can take more advantage of bo and co and can trade with high quantity()
Hi Nitin- Opentrade is such a lovely innovation and an amazing idea. Thanks for giving us an access to the trading strategy of some of the stalwarts of intraday trading. The only issue i have is the lag in getting the alerts. I am also not getting any SMS alerts. Can anybody please look into it?
hi NIthin ,
first of all its very good initiative for all loss making indian retail traders.
but i would like to know few things on it .
see , there are 100 ways of trading .like [ cash , fut , orption ] with [ intraday , positional ] with [ stock , index ] with [ with hedging , without ] … like that many …
so , if i take permutation of all above , there could be many ways to trading .
and every strategy involves with a particular amount . i might not have that much amount of money .
so , how do i know , which STAR is ideal for me ?
which Star’s trading pattern is similar to me ?
Regards
debjit
You will be able to analyze this through the star quant reports which will be made available to you.
Hi Nithin,
What will these reports show?
For example, if the star is a Nifty trader, can we see the average Nifty points gained per month? And the max gain, min gain (or loss) of points achieved for any month?
This will help decide better by leaving out quantities and the compounding effect of returns etc.
Thanks,
Ishwar.
You will see that soon.
Ok. And can we can claim subscription fees for this expert learning as an expense when filing IT returns?
Yep
Nitin Sir i just opened a account with zerodha, i feel very happy with brokerage and your services. All is good but i need to learn the art of trading through technicals. I ask Zerodha experts so many times to guide me through technical indicators and charts but they always say that you have to learn it yourself, Will you pls start some training through teamviewer. So that new traders like me can learn technicals as it is very difficult to understand technicals from theory it needs practical hands to explain. I put some trades on Expert Advisors but scrip goes the other way. Pls guide through expert advisors which strategy is best to use, as sometimes it give you sell signal but rest of the day never give buy signal but scrip goes up. How it happen.pls put some light.
Hi Nithin,
May i know when the Bracket orders facility will be available in Kite ?
Thanks,
Ashok
No date as such, but we will let you know soon.
Hi Nitin,
Its good that you are working on the challenging conditions of a retail trader.But kindly make sure that your data is up to date and exactly matches with the candle sticks.I don’t know other traders have noticied it or not.
Let me give a real time example.
If we use any third party softwares like Ami Broker,Meta Stock,Investar India or our own free Google Finance,the Open,high,low and close of each candle at any given time frame of 1mn,3mn,5mn,daily should match with your data in PI or Kite.Unfortunately data mismatches between open,high,low and close.Kindly rectify it as it gives two different support/resistance in each terminal and creates a harrasment in taking decission to take a trade.
Check this: http://tradingqna.com/8843/technical-charts-google-finance-yahoo-finance-amibroker-match
hi nitin , you are doing very good jobs, please increase some more leverage for bo,co,and mis orders as a result small traders will be able to trade mainly in nifty future trading
Hi Nithin,
I am trying to learn trading from 5 years but haven’t been so close to success as in last few months with Zerodha, I am still making losses but slowly all is making sense to me..thanks for all these innovations and super Q and PI.
Hi, I’m new trader at zerodha and have a query which still remains unanswered by your demo/sales team.
Plz explain how to put order using stop loss:
Assume stock is at 100.
– Place a sell order if the stock hits 105 or above (don’t want to place limit order as this might remain dormant)
– Place buy order if the stock hits 95 or below (again don’t want to place a limit order)
– Do i need to place a sl or limit sell order if the stock hits above a trigger point and vice versa for buy order
Thanks
– SL selling order with trigger price as 105 and limit price as whatever price u want the order to be sent
-SL buy order with trigger as 95 and limit as the price at which you want to send this order when trigger is hit.
Nithin,
I recently opened account with Zerodha and got it functional today. Pi and Kite are great tools.
Zerodha is new age entity like Uber. A software company in brokerage business.
Well done guys.
Aniruddha Kulkarni
I am interested Nitinji, also is it possible to add pitch fork and woodies cci on indicators, pls add these two indicators if possible.
Hi Nithin/Zerodha team,
Congratulation and really a amazing Job you are doing.
Not sure if this question was asked earlier?
It would also be helpful if the stars can share on what bases they pick a particular trade/stock. They can share this at the end of the day if that is possible. This will be helpful for the followers in terms of learning.
Regards,
Vishal
Hi,
To follow a star do zerodha clients have to get on the invitation list?
Will the charge be deducted from our trading account?
As this opentrade is just starting, I would request the zerodha team to keep the fee minimal for the first month so that we can see if it is actually beneficial for the followers.
Thanks & Regards,
Rajat
The charge will have to paid online (won’t be deducted from trading account). If you are on the invitation list, you will be the first to be invited to be part of opentrade.
When shall it be startred?
By end of this month.
odd question :
do you agree that STT takes a toll on trading . It reduces the returns drastically especially if you are in the midst of covering up your losses in intraday trading.
Do you think this is a issue that has the traders attention .
Yep, I guess brokers and exchanges every year ask for a reduction to the FM before the budget.
Thanks, Nithin.
We appreciate your passion to help trader community. Hope this initiative will benefit both stars and followers. Wish you all the best.
Regards
Purushottam
sir,
1.Early morning telephone lines are too busy so for intraday trader it is a big challenge .
we need to wait for longer duration, so please increase number of telephone lines .
2. Charges for telephonic order are too high please revise it , its more then brokerage which is not a good will gesture.
Ratan, have you tried kite.zerodha.com on your mobile browser? It works very well, you will not need to reach our call center. There is a huge overhead for us in terms of people employed to support call n trade desk, don’t think it is possible to reduce the Rs 20.
Great Initiative. Got to ensure couple of things.
1) Need to make sure there any no regulatory issues in displaying star’s buy/sell to followers?
2) Got to have agreement signed with stars for the above reason.
Hope we have at least four to five stars for each category…equity / FnO / commodity / Forex.
3) Have the stars been identified already? I am waiting to be contacted :), so if you say identification is over, I can concentrate on other things 🙂
1. Yep
2. Yep
3. 🙂 we haven’t still finalized.
What is the stratergy to introduce the stars. How often will a new star come in, if the existing ones dont fare better. It is better to start with many stars, than to introduce someone after two three months. Also the quant report of the star since becoming a star , is more important, than his/her past…just a suggestion
Nithin & Team Zerodha this is simply brilliant and can’t be better than this.
Looking forward to follow greats and learn
Thanks again to bring this to us. Being a day trader willing to follow day traders
how to activate bracket order in pi…he giving me massage BO not enable for this a/c…
BO is active by default. Can you attach a screenshot of the error?
sure….but tommorw…at trading hours…..
Any tentative date of start the open trade ? How much time it will take to deliver the message to follower
We are still shortlisting the stars, we will let you know soon.
It is better to wait till Thursday for FNO expiry to arrive at the stars performance and subsequently to enlist them and publish the quants….just a suggestion.
Hi Nitin,
Waiting for the invitation.
Any time frame for the mutual fund platform rollout ?
Its a little difficult to commit the time frame. We should be launching it out soon, sometime in Feb.
Hi,
Regarding the new collateral policy, assuming I currently have 1 lakh as cash margin, can I not take positions with margin requirement more than 2 lakh irrespective of how much collateral I have ?? (if I don’t want to incur an interest debit)
Also, what’s the interest rate for a debit balance
You can take position for the entire cash+collateral component. However interest will be charged if the cash component for the position you’ve taken is lesser.
Eg: If you have 1 lac cash and collateral worth 12Lacs, you can take positions upto 13 lacs. If you end up taking positions for 10 lacs, interest would be charged on Rs.4 lacs of cash (10lacs*50% = 5 lacs, cash in account = 1 lac)
Yes, so in your example, if I don’t want any interest charges, I can only use a margin of INR 2 lakh, right ?
Also, whats the rate of interest ?
Yep correct. interest will be at 0.05% per day.
Is there a new guideline by the exchanges which has made this change necessary ?
This rule has been prevalent forever.
Has Zerodha been posting cash to the exchanges so far on behalf of the clients ?
Yes, if it weren’t the client funds, the broker’s funds were getting deployed.
1.when the zerodha kite mobile application will be available.. ?? atleast say approximate time.. thanku
2. BO and CO available in that or not??
1. Alpha next week.
2. Yes available.
sir you said Alpha next week but still it didn’t launch??
We’ll let you know once its launched.
Does Zerodha copy trades of successful traders for their benefit?
Nopes.
Nitin. It is Jan end now. Any technical reasons holding this from launching?
Can you please make video, How it’s work
And also when we are going to launch this ?
Launch is delayed for a bit, will keep you all posted.
hi nithin, please arrange two charts on a single screen on pi , one for index and other for stock.
You can add as many charts as you want, check this: http://zerodha.com/z-connect/tradezerodha/pi-tradezerodha/charting-pi
Sir the success of open trade is mostly depends upon the participation & response of all kind of traders.I just wish to know how are the responds from successful traders.
Further approximately how many traders will be there in each specific categories such as intraday equity,intraday positional,NFO,currencies, Commodity intraday & positionals……
We will have the details out soon.
Hi Nitin
Thro the innovative ideas clients of Zero(dha) can become Hero…
Expect many more from Zerodha
Hi Nithin,
Many congratulations on your new superb initiatives – I am surely your biggest promoter ☺ I have few questions on regulations. As you mentioned somewhere in your replies that regulation may be a hassle to let people automatically “copy” a star trader. However, I am just trying to understand how is this different from star trader alerts that your system will generate given that regulations require anyone who offers/solicits any kind of advice should be registered with SEBI as an Investment Advisor. Wouldn’t opentrade be flouting these rules? Hoping to hear from you soon.
Regards,
Tanveer
Tanveer, all the advice that comes through to others will be through Zerodha. So none of the stars will be directly giving out any advice, it will be as good as Zerodha giving buy/sell signals similar to what every brokerage gives, which is allowed by the regulators.
Thanks for spreading the word. 🙂
Nithin why Zerodha not able to deliver on time whether it was pi or open trade it took lot of time when open trade came out of bag any tentative date
Currently some regulatory roadblock that has come up suddenly. Will keep you posted.
Nitin,
If it is only delayed due to regulatory issues, have the stars have been identified?
Yes, we have identified the stars, we will speak to them as soon as get over this roadblock.
I have one feedback regarding open trade.
The Star trader should signify if the position is intraday or positional. This is very important as per my understanding. Suppose i am following a star trader – he or she might have bought / shorted with a time frame of 2-3 days and if i am trading only for intra day – i might not get profit by following that trader.
Hi Nithin,
Eagarly waiting for OpenTrade invitation.
With respect to subscriber privacy, in any way will star also know if any of their alerts are taken up and executed by subscriber?
Regards
No
Hi Nithin,
I have signed up for open trade. On the site it says it invite based. When can I expect to get started with it?
Shortly
Every successful trader know that derivative trading is a zero sum game. Nobody buys the underlying security here, both buyer and seller share exactly same but opposite risks. So Open trade Result => bottleneck effect in trading.
For learning => Without knowing the thought process behind a trade how can it be used for? Any idea?
its very good idea. I have an account in Zerodha. Kindly add me to the new group.
Hello Sir what’s the progress in solving the regulatory roadblocks. Please keep informing….
Nithin I am eagerly waiting for open trade. when are you planning to release it? Do you have any date?
Since it involves getting approvals and all, wouldn’t be able to commit a date. We’re working on it.
dnt u think………splashing ur project(open trade) before taking the requisite permissions is a bit hasty…….?
Never said we don’t have requisite permission. What I meant was, there are people other than Zerodha that are involved and hence it’d be difficult to give an exact date. We’ll be rolling OT out soon
Venu, Nitin
This is worrisome. Is there a chance that the approval may never happen. That would be a lost oppurtunity for most.
Nithin i am eagerly waiting for Open trade. When will it be live? Do you have any date?
We will announce soon.
Nitinji, is it possible add andrews pitchfork and woodies cci on pi please
We have a new release of Pi coming up, after this release, we will look at adding new indicators.
thank u so much nitinji
Hello, Nithin,
1. When shall we be able to have realtime SCANNING facilities in KITE? Its is so much required.
2. When will BO/CO order will be activated in KITE?
Regards,
K R ANAND
DK0168
1. Its difficult to include all the features that are on Pi onto Kite because Kite is a web application and the idea is to keep it light and minimalistic.
2. We’re working on it. We’ll let you know once its out.
Dear sir I wont to a button in web chart BSE & NSE
Which I can change BSE & NSE chart
Nithin Sir,
I am eagerly awaiting the launch of Opentrade. I think many of our trader friends also are anxious about it. Please expediate the process.
@Nithin – a small request, can we get the following options in Pi –
1. When a chart is opened, it opens with default indicators preloaded as per user preference
2. Option of dashed/thicker lines for moving averages and other indicators
1. You can save the chart as a template with all indicators you want. So everytime you open a chart, you can apply the template.
2. This will take more time.
Hi please provide updates on Open trade.Eagerly waiting for same.Any hints of progress?
Hopefully in the next couple of weeks.
Nithin Sir,
Partners will get any commission from opentrade subscription?
Not for now. This will be a beta run to see how it works. Maybe after.
1. Assuming it would be active from March 1st
2. Will there be display of how many followers for each star for public display.
3. Need to have the quants of the stars displayed before “start date” so that people can decide, whom to follow.
Dear Nittin Bhai,
Please guide me for mobile app of Zerodha ,
NSE Now app is absolutely crap lately.
Thanks & Regards
Can you send an email to [email protected] with your client ID. We can migrate you to our app.
hi Nitinji,
please keep this thread limited to opentrade updates conversation. Eagerly I open this thread to see updates, but in between others post about charting, etc… i have go and search where is the latest update about OT.
thanks
Sree
Is this project going to see the light of day? I am eagerly waiting for it to take off…learn something from the stars
It is, but will take a little longer.
Nitinji , release of new version pi is amazing , especially interchange in timeframe and interselecting stocks. Lot of thanks for Nithiji and Zerodha team , a small request if 1 hr and daily timeframe would be there ,great or if 1hr tf would be perfect , PLEASE consider . And also eagerly waiting for Open trade .
Shiva, we already have 1hr and daily time frame. You can choose this while opening the chart itself.
Hi Nitin,
Can you please provide any ETA or tentative dates for open trade .have been waiting since Jan 1st week. Still no news. Everyday many people come to see this thread with a hope but we are not getting any news.
Thanks.
We have updated on the website saying March 2016.
Nithin,
March 16 meaning, can we expect starting of march 16 or end of the month?
Hoping for the 1st week of March.
We all hope this time we could be a part of it.hopefully it doesn’t get delayed further. 5 days to go for 1st March . also the way you guys keep the brokerage low the subscription price should be low as well. Only then our expectations will match our patients. Please don’t disappoint us with very high subscription price.
Let Zerodha take time to start Open Trade with all regulatory clearances,software,analysis of star traders performance,rules and regulations,fees structure,selection of star traders in different trade types such as options,swing,day trading etc.This is an important start up and let all things be perfect before they start. We should not put pressure on them to start early as we want this to be a helpful and long lasting step.
Mehzin
minimum capital for open trade
Nothing as such.
Will the subscribers be able to see the past trades taken by the chosen star. We don’t want only numbers based on which we select the star to follow. Also we need to see the trades in the sense entry and exit of trades taken in past by the chosen Star
Yep, it will be shown.
Dear sir..Take your time but give us dates so that we should not be disappointed anymore
Any Tentative data When open trade will be live ?
hi
nithin sir
I dont understand why u delay in every thing…u dont have decent mobile trading app yet …actually u told us near about 1 year ago that u come with great mobile teading app…u told us 3 month ago that u come with open trade… yet not…i thought u will come with open trade in jan 2017 or more…in such compition world…such things have no excuses….. accepting fast move from you…thanx…
Send an email to [email protected] to get access to beta version of the android mobile app.
Nitin Anna
…Ignore harsh comments … they are out of excitement … Take your time…Give us the BEST Product!
Hi Nitin,
what is time period require to enable these trade to us? Example: Star trader done transaction at 2 pm today then when we can see this transaction in opentrade.in.
You will be able to see immediately.
Starting in 1st week March looks difficult now as the scheme has not been announced yet. Let us hope that it definately starts from the new financial year atleast that is from 1-4-2016.
Waiting for it to start.
Did anyone from Zerodha told you this ? Or are you from Zerodha ?
Nitin Sir can you please advise
Hi Nitin Sir,
Can someone please tell us when actually we expect it to be LIVE and available to public.Any revised ETA ?
Thank you,
Hi Nithin,
There lot of traders eagerly waiting for this program to rollout. It is very disappointing to see that there is no comprehensive update on the dates from zerodha. My advice is that zerodha is having very good branding in traders community. I wish you people will save that image and make good progress in your innovative product ideas. I am very much worried to see this open trade is getting dragged more than 2 months after announcement. Nothing stopping you to give proper ETA. Being I am zerodha well wisher this is my suggestion. There should be strategy to launch products and their communication. You guys are not any more start up. You grown Mich bigger. Its time to stand up to expectations in quality.
Srividya, Opentrade the platform has been ready long back. This was held back because of some regulatory approvals, which unfortunately is not in our hands. We were asked to make some changes in the way we are wording opentrade, I am hoping to have this up and running in the next 10 days.
Hi Nithin.
I have been using Zerodha from last two months and i thank you from core of my heart for making such a wonderful platform. I have a request to make Zerodha more efficient. Currently in Kite if i want to see Open Low high volume of any script i have to individually go into each script. There should be a screen where i can i see this information of my scripts. Like we have in PI. This is very important as per my view.
Thank You so much.
when will you start open trade pls tell
We’ll let you know once its live.
My user Id is RG1266 I am unable to download Pi…. Can you help me
We’ll get someone to call you tomorrow. In future, please call 080-40402020 and speak to one of our agents who’ll help.
Can we have an tentative ETA DATE for open trade Venu/Nitin.
Yes, please provide a tentative date when it goes live…if it is going to be live next week then i guess we should be able to see the star’s stats now so that we could select a star to follow.
Some last minute issues, hopefully by next weekend.
Good news. Atleast can you tell us how many stars are there? Can’t wait.
We will have around 20 stars to begin with.
Nithin,
Thanks for giving clarity on dates. We apprciate if you can publish changes that being made to align with regulators compliance.
Just curious to know…
Can followers see star’s orders which includes executed, open, yet to trigger orders. And also positions of star?
It will be great if you can publish another article with comprehensive details. Because when you are normalizing the positions and their qty, followers should kbow how they need to manage their money. If you are normalizing positions of stars, you should also expose normalized funds of star. Then only follower can execute trade as per follower account capacity proportionately.
Some time follower can take call on not taking a trade if his account margin is not suitable for that trade.
I hope you would have thought of all these use cases.
It will be great if star can give explanation about their strategy as a annototaion. So that follower can learn strategy. This information can be shared after trade is closed also.
Once after the platform is launched I will give more feedback.
You will be able to see positions, holdings, and all executed orders. You will not be able to see pending orders.
The first version of opentrade is going to be a beta. We will add a lot more features if this platform becomes popular.
Hi,
Got a mail 2 days back from [email protected] which asked to download their app (WeProfit) which seems to be similar to OpenTrade where you can copy trades of other traders. The mail also said that this was an exclusive offer for Zerodha users. Are you associated in any way with this or you think its spam mail ??
They might be our marketing partners. Will have to check.
I checked WeProfit it’s similar to what you claim Opentrade to be. But they have given the name of the traders.
Have you people been scooped?
On a separate note will there be any pairs trader and intraday scalpers in the list of stars?
I am guessing in weprofit the person publishing manually updates his trades on the platform. Opentrade will be anonymous and automated.
Hi Nithin / Venu,
Thanks for the Good News. Eagerly waiting to see the platform and its features.
Just want to know if we get stars who will be option selling in your stars category list.
I am sure this program is going to be successful and also Zerodha is going to attract significant amount of client base, only through this program. I wish all zerodha clients success in their trades using this platform.
With Regards,
Dharani
I am happy that platform is starting soon. Looking forward to join and learn from the masters.
Star traders are divided into equity,day trader,swing trader ,option trader but will they take same type of trades in their accounts.If I am following a swing trader star and if he takes a day trade or scalping trade then I will be taking that trade too as l won’t know that it is for short term and not for swing. How I will know that it is not a swing trade ?
For initial few days please run interactive discussions on open trade in which stars also can participate under their star name so that star and followers both will have clear ideas information we get and expect. A star may not tell his system or interact once the project goes live and we will have to learn from the trades they take….
In short happy days are coming for learners to be profitable.
Learner
z-connect is changed … It is looking white white all over … too bright to read … please do something about it
Hope it will be live by this weekend. More the delay, more the frustration of waiting. Pls dont wait to get everything 100% fixed before releasing. You can always fix / upgrade , add more things later.
Nithin Sir,
Any developments on Opentrade ?
Hi Nithin,
Are we still sticking to this weekend release plan? OR is there any change in the plan?
Please update the thread.
I think 2 to 3 days more. Some last minute issues we had.
so, I gather it will be operational by next week. I am thrilled…when can I expect to get the “invite”?
Soon! We’ll let you know
really looking forward to the launch and invite 🙂
will past performance of the stars be provided to help us chose which stars to follow and subscribe?
Yes, the quant reports of stars will be opened up.
Sir any revised ETA date when we expect to see the most awaited open trade Live date. In a day I check more than 1k times.I check my mail box as well hoping to receive invitation mail.every week we just hear 1 dreadful word hopefully next week some last minute issue. I hope you understand our impatience
Yogesh, hopefully by next monday we should be out. A bunch of issues that we are fixing.
I have opened account with zerodha last month
I am new to market
I am busy with my work, so I don’t have time to watch market and decide my trade
I’m waiting for open trade group to start and follow successful trader
Then I will start my trading
Hope you start in April
Yes hopefully before April.
Nitin Sir is it Live now ?
You were joking ?
It is live, but we are doing some bug fixing.
Trust me many of us are blessing you for making it happen. Making it LIVE.
…These “last minute” issues are becoming last hour , last day, last week, …last month issues….
Zaldi milne wali khooshi zada din tak hoti nahi hai or late se milne wali khooshi zaldi jaati nahi hai 🙂
Thank u to everything zerodha
Main 20 rs aapke alawa kisi ko nahi deta as a service charge:)
Because you know itne paise main bahoot kuch milta hai only at zerodha
You long await is over opentrade site is live go check it out.
How to search for the stars who mainly trade in MCX ?
How to search stars who trade only or mainly intra day? There should be some user-friendliness in the open trade interface… user should be facilitated to quickly filter out the star he wants to follow…user can only see the profitability but not the historical trades of star trader … I need to see stars history before I follow him
Currently no MCX. You can start seeing the trades only after following a star.
Is it LIVE already? asking user/passwd.
It is live, but a bunch of UI issues, we will have them all fixed by end of day.
In your earlier post you have mentioned we can have access to Star’s Quant reports and we would be able to see the trade history (Date, entry/exit & stop loss of past trades). The date when the trade was taken and the date when profit and loss was booked. Please advise/guide how can we see that.
You will be able to see this only from the day you start following stars.
Dear Nithin, have you any plan for MCX also ? If yes then can we know the probable date ?
Yes, hopefully MCX also soon.
Whom to reachout ? Who to ask if i have any question regarding this ?
You can ask here Yogesh. Will put up a section on opentrade which will explain how it works today.
Is it in beta..live only to some folks?
It is in beta for everyone.
Great work Zerodha team!
Going through the stars. Had a question though and a suggestion –
1. The average profit/loss streak figures are way above the longest profit/loss streak figures. Are the average streak figures actually the total profit/loss figures for the period?
2. Please show some more descriptive statistics on the trades on the star profile pages as that would help in selecting the stars according to their performance and trade type and duration – like avg profit/loss per trade, avg duration in days or mins in case of intraday, std dev etc.
1. Check this post, explains on the quant reports shown.
2. We will probably add more bits by the next release.
I am being asked to verify ID by logging in to Kite Account , on the Opentrade Site. I don’t have a Kite Account. I have Zerodha Account but never used Kite. What shall I do ?
You can use the Zerodha trading account to verify ID. Mention your client ID and trading password.
Hi All,
Did anyone got an invite form open trade ?. Its already Live however now mail notification from Zerodha ?
We will probably send an email only by monday considering markets closed from tomorrow onwards.
Hi venu / Nitin
If for example I have 1 credit with me which will expire in 10 days . can I unfollow 1 Star and change to another star. Can I keep changing stars every day with available credit in my account
Once you follow a star, the credit is valid for 1 month. So even if you unfollow, you will not be able to use this credit for another star.
Its really an awesome tool for a beginner to stay profitable. Please make a tutorial video like the one which you made for kite and PI, It will be very helpful.
Yep, probably a simple post explaining how it works will do.
What are the percentages? Per month, per annum or absolute percentage points of last 90 days?
Absolute percentage returns for the last 90 days. There are a few who are on this list with flat returns. But if they are on this list, it means that they have generally been positive during the trading period at Zerodha.
Hi Nithin,
I have subscribed to one star today… But, I think considering the long weekend holidays, Zerodha must consider the subscription start date, from 1st April or at the least from Monday, 28th March… as an early offer 😉
Thanks for the excellent intiative!
Hi Nithin,
Seems my above message was overlooked… Please consider considering subscription start date as 01st April or atleast Monday, due to a long weekend and also to resolve any hiccups during the gestation period of the new launch…
Please share the info about how to subscribe to the stars and where we can see all the reports ,trades i am fellow client of zerodha
pls share the link here to open trade website
https://opentrade.in/
I was checking the streaks of some traders. Their profitable streaks run in few crores and losing streaks in 90lacs!! If I had this much capital, I will put it in fixed deposit and set it to monthly interest withdrawal. 😀
Great initiative guys. Still deciding which 2 stars to follow for the first month. It is clear I can’t take most trades due to capital restriction. But maybe I learn few tricks.
For the trader named “Columba”, is there any bug in his profitability graphs? The chart and numbers look horrible for a profitable trader!
Checking it.
In the positions, the follower should be able to see the quantity. If there is no quantity follower can not understand the ratio between the buy and sell for option hedging.
It is of no use. if you dont want to reveal the actual quantity, you can normalize them in the ratio and show to the follower.
We are currently showing the % weightage of the positions.
we are not seeing any new trades today. is that is expected OR there are no trades from these traders?
It is possible that some of them don’t trade daily.
I have tried to post a sample sortable star table link above.
Nithin,
Is there any issue to display normalized quantity in new trades and Positions.
If there is no quantity, this will not help to decide how to manage the money for taking positions.
Please clarify on this.
Thanks!
Surendra
There is no quantity, but we are showing % weightage of the stars positions.
what if I want to follow only intraday traders, Is there any function to filter the stars with their nature of trading? Because I don’t want to follow somebody who trades one or twice in a week and take delivery for thousands of shares.
We will by monday share an average number of trades taken per day by the star.
Nitin,
The 90 days is a random stat to show profit %. Am sure choosing profit % for 365 days (year) will give entirely different picture. Also this %, gives a head start to only few stars. The rest all will be ignored. We should ideally start measuring the profit % once the platform is live.
We will add more metrics soon.
Hi Nithin,
We need to know the type of trader one is >
eg- Eq Swing trader, F&O Swing trades, Intraday trader, Short-term, Positional, Investment (as also mentioned in your original post above)
Also, a few words describing the Style and Type of trades a Star takes along with average duration of his positions is required and can be included in his introduction along with his Favorites tab..
Thanks & regards…
We will have a new section which will show average number of trades per day.
Please have an optional but more user friendly tabulated sortable and filterable representation of stars like the image attached,,,
[IMG]http://i66.tinypic.com/2z4cygk.png[/IMG]
Hi Nitin/venu
If I am following 10 stars for 3 months and my past 90 days trade records are good. Although I am not taking exactly the same trades what stars I have chosen have taken. Later if I want to be a star can I be eligible to be a STAR
Yep, you can.
This is strange that I can not post images on z connect to explain my point…Few Weeks back My Antivirus was saying z connect has some virus or Trojan and it was not opening at all ??… From then on z connect has become unattractive to read with bright white background … In addition how do we add images to our posts … This option is also missing…Please do something
We had a major malware attack on Zconnect. So we had to quickly change the format of the blog. You can add pics normally, it will need us to approve from the admin.
Hi, Is opentrade started? can i simply make payment and start following somebody now? how realtime trade will update me. please explain me
Yep it is open. Trade updates will happen through SMS, Email, and through the dashboard within opentrade.
Nithin,
Can you please help to understand how this weight-age works.
1. is the weight-age % is margin amount used for the each position / value of the total position?
because
Margin for 1 lot NIFTY call option @ Rs. 10/- BUYING = 10 X 75 = Rs. 750/- (margin 750 = position value 750)
Margin for 1 lot NIFTY call option @ Rs. 10/- SELLING = ~ Rs. 40,000/- (marging 40K != position value 750)
2. if weight-age % is margin amount, is that % is of the total account capital OR is just used capital %?
just for illustration purpose, I am trying to take details of the one of the star I am following:
STAR Profile (Just changed the capital numbers )
====================================
Avg Capital : 5 Crore
Positions:
STOCK SYMBOL Type Price Weightage
NIFTY16MAR7500PE B 22.50 8.73%
NIFTY16MAR7700CE B 70.77 9.15%
NIFTY16MAR7800CE S 12.76 38.6%
NIFTY16MAR7400PE S 7.33 10.42%
NIFTY16MAR7600CE B 65.50 8.47%
NIFTY16MAR7500CE B 95.20 24.62%
>> As asked above, how this % works against capital?
FOLLOWER PROFILE
===================
Avg Capital : 50 Lakhs
Positions:
>> As a follower, how one should take positions with 50L capital to follow the above star?
How much capital is being used for the taken positions? what is the remaining money for future hedging purpose? because Star may have different strategy to get into hedging trade to protect his position. so that there will some reserved capital.
NOW NEW TRADES…
alerts with below msg.
EXited partial NIFTY16MAR7500PE
how do follower understand, partial means.
Final Request
I would request you to be in the follower’s shoes and explain detailed approach, how follower can get follow star by using this data.
% weightage is not based on margin used. It is basically the position size.
Request you to re-check the quant reports of Pegasus – looks doubtful that with an avg portfolio size of 14 lakh, there are daily P&L swings of 10-15 lakh……
Hi Nithin,
I bought a pack of 5 credits and only used 2, but now credits are reflecting as 0. How do we verify? Also when we choose the unfollow option does that particular credit go into freeze mode or will it continue till reaches its expiry period. Moreover can one single credit be switched among multiple stars till it expires.
Can you send an email to [email protected] with your client ID
Hi Nitin /venu
For example today is 1st jan and If I have taken 5 credits and following only 1 star then remaining 4 credit will be valid till what date and month. (April may june or it will remain valid for life time) Please clarify.
Valid for lifetime.
its a new start but not upto expectations . I hope it gets better over the time with stars trading in equities that are part of sensex / nifty 50 like Ril , SBI , HUL , Infy , L&T.
Please any share the URL for opentrade .
Hi Nitin/Venu,
I have subscribed and following the star however i am unable to see the trade histor of that star how can i see the trade history. Where do i need to click to see the trade history. I need the trade history of the star .
Please advise urgently .
You can see the trades only from the day you start following the star.
Hi Nitin /venu
Thanks for your response. Please note as mentioned I am already following a STAR but not able to that star trade history and trade details. Please advise where do I need to click on the link to see the historic trade details. Please advise urgently.
Yogesh,you can see only quants historical. You get to see the trades (live and historical) only after you start following a star.
if by mistake i have unfollow a star which i was following can i follow the same star again or i need to pay 1 credit again to do that
Yes you can follow the same star, 1 credit only after the 1month expires.
Dear Mr. Nithin,
You have already done great jobs through Zerodha.
Thanks a lot for offering such wonderful services
As being a existing client here I am suggesting to introduce “Demat Debit Charge Reduction Pack” which will allow equity positional/swing traders to reduce their expenses.
Like, if a client pays X rupees upfront then he/she gets Y no of free debits.
And your business model doesn’t encourage upfront charging then you can arrange for discount on bill amount of certain period.
Say, if a client generates Z no of debit (Rs 15.46 of each) at end of the said period then 10% discount. Higher the bill amount higher the discount
Hope you will assess the matter
With Warm Regards,
Arkendu Bikash Porel
🙂 I don’t think we will be able to do anything on this. Already significant portion of the debit charge goes to NSDL.
Dear Mr. Nithin,
Permissions required to activate opentrade are
‘Access holdings and positions portfolio; View your account balance and margins; Place, modify, and cancel orders’
Why opentrade requires these permitions? And giving permission for “Place, modify, and cancel orders” to opentrade, does it missuse my account or place unauthorised orders in behalf of me?
Where are you seeing this? To activate, all we need is you to verify that you are a Zerodha client.
When I try to activate my Zerodha client id and after login with kite id & password it asks for those permissions to authorize.
Ah k, checking why.
Have you checked the issue?
It is a standard bunch of declarations for all platforms that use our Kite connect logins.
I am unable to log in to Opentrade .On last step of trying to log into kite account it gives a message “invalid credentials ” though I am using my Zerodha ID and password which in normal course allows me to log into Pi as well as Kite.
Earlier there were 21 stars.Now I see only 15 stars.What happened to the remaining stars ?When is it going live means when can we see the actual trades of the star one follows ?
Zerodha needs to give more user friendly information for this wonderful idea to succeed.How about sharing a one page note on how to see the star information ,rules ,regulations,what more information can be shared and what cannot be shared.Good idea but packaged and marketed very poorly. Wake up Zerodha.
The stars who are down in the last 90 days are invisible, as and when they come back in the green, we will share the details. We will announce it to public sometime next week, and yeah will have a post on how to use it.
Hi Nitin/venu
If I am following a STAR after which star is not performing will it become invisible? What will happen to my credit which I have paid to follow that star
You will keep getting to see the stars trades until you unfollow the star (even if he becomes invisible from the main dashboard).
I am unable to login to my open trade account since this morning. It says invalid user credentials.
Send such queries directly to [email protected]
seems PEGASUS,TAURUS,GRMINI’s contract s details are wrong (repeating itself), probably misleading.
might be there Profit % also would differ.
Hi Nitin San
I think the no. of followers subscribed to a stars should not be shown.It may discourage or pressurize the stars…I think u can understand it better.
Further heads up to all stars for their supporttive attitude to help new traders.
Regards
Sudhansu
Hi Nitin /venu
Thanks for your response. Please note as mentioned I am already following a STAR Pegasus but not able to that star trade history and trade details. Please advise where do I need to click on the link to see the historic trade details. Please advise urgently.
Hi , I have taken 5 credits and started following one star. How can i view their trade in Pi terminal?
You can’t view it on Pi, it updates on opentrade dashboard, you get emails and SMS.
HI Nithin, Good job, I like it. but still some all trades are not updating timely. Some trade sms are missing, that what i feel
Having this checked.
First Live experience with Opentrade – I subscribed to 2 stars last week. Today was the first time I was to receive notifications of trades. Unfortunately, the experience till now is not very convincing.
One star subscribed is a day trader and frequently enters and exit trades. First, there is absolutely no info on the usual timeframe of trades of the stars in the star profile page, so I ended up selecting a star whose trading style is very difficult to follow given the frequency of his trades and short timeframes. Something needs to be done about this. More info on trading style and a short anonymous bio of the stars focusing on trading style will help a lot.
Second, to top this the sms and email updates functionality is broken. Its not sending notifications on time. I got the entry sms for the first trade on time but got the exit sms 25 mins after the trade was exited. The next entry message was 10 mins late. The exit message of this 2nd trade is yet to come while the trader is now on his 3rd trade :).
I am sure these are early hiccups and the Zerodha team will improve the tool but a lot of caution is needed before the tool can be trusted.
I have subscribed to PEGASUS, but I can’t see his/her trade feed
The particular client was on NOW platform hence you were not able to see. Should be visible from tomorrow.
one clarification wahts this longest streak profit ?
The maximum number of days a person has been continuously in profits. Check this post.
is there any charges for following stars?if yes how much?
Regards
naanu
Yes there is, 1 credit for following a star per month. You can see how much credits cost by logging in.
I don’t think I am getting notification of Pegasus. Moreover, I do not think that the trader feed and position is being updated. You can cross-check with the trade entered by Pegasus and updates/notification sent/missing.
It should start updating from tomorrow.
I can see the change in position (buy) in opentrade but have not got any sms/email notification from Pegasys. Please look into it urgently.
Yes some issues with the SMS/Email gateway, we are having this fixed.
It worked yesterday and again no notification today of the long position carried over by Pegasus to next month contract at 3:27 pm. No sms, email and not even popup worked. I have already reported this to opentrade and support also. This product is still not stable. Great initiative but having implementation issues.
Today, I also noticed that the number of subscribers suddenly doubled (after my refresh during the day) in just one minute.
Also, the return of Pegasus was showing about 420+% returns yesterday and then today, it showed only about 320+%. Did he lose 100% in just one day (during the first day of new 90 day period) or was the calculation wrong earlier?
I have subscribed to 3 stars…
Problem #1
Although I was receiving sms/email notifications till 09:56 till today morning, suddenly the sms/email notifications have stopped from delivery… It’s very strenuous to keep watching the OT dashboard by refreshing the page continuously to ensure any new updates.. so as to not miss anything important (which I did) 🙁
Problem#2
We need to have an “Auto-refresh” on the Dashboard page.
Better would be- whenever a new update/trade is received it should automatically be updated without the need for refreshing the page.
Problem#3
The positions taken by Ursa Major today were in EQ. It wasn’t clear whether he has taken this in MIS Margin or CnC so as to be carried forward to next day… It was clear only after the close of the market that it was a CnC postion as the position is still not closed… Same is applicable for other positions by Ursa Major and Andromeda in FnO
Therefore, it should be clear if the star has taken a CnC or MIS position and also the conversion, if any…
Kindly look into the above issues (esp. 1st problem) at the earliest please..
The SMS/email gateway can be lagging. There are desktop notifications enabled, so as long as you have opentrade open in background, it should give a desktop notification. If you are not seeing this, send an email to [email protected]
In above query, please read>
Cnc positions or NRML positions
Dear Nithin
Why can’t you show position size? % weightage is really confusing, how would you determine position size from % weightage, please explain with an example? Thanks, great initiative though and as always zerodha rocks.
Hi Nitin/Venu,
Can you please share the logic why 18th March is the chosen date why not from 1st Jan / Feb/ March 2016.
It is from when we took opentrade live. But we are adding Quant flashback on star profile, you will be able to see historical as well.
HI Nitin/Venu
For Andromeda trade feed is from 23rd March and for Ursa Major trade feed from March 18. So does it mean Andromeda there were no trades from 18th to 22 March ?
Plese add profit and loss trade accuracy in monthly based 🙂
HI Nitin/Venu
Trade feed data is very confusing for 1 of the star we can see the position is open however in its portfolio tab there is nothing to show. Can someone please explain how is it possible
We are doing some fixes to make it easier to understand. Give us time till tomorrow.
Dear Sir,
What is the average profit streak? pl reply me sir,
thanks
Check this post, it has an explanation.
Hi Nitin/Venu,
I have subscribed 3 stars. 1st and 2nd day I received SMS of one star and no SMS received from other two. But there were live trades by the stars whom I haven’t received SMS. This is 3rd day, no SMS received so far. But there were many live trades all the 3 stars. This is really disappointing and confusing whether to follow or not. Also, no info about whom to contact for resolving these issues. Please look into this.
Hoping for accurate service from now onwards.
Some issue with the SMS/Email gateway, we are having this fixed.
Lots of issues…multiple trade by a star but I received only one SMS. I did’t receive any SMS from the other star I am following but the dashboard suggest he has made some trade.
Friend,whats the cost for following one star? pl reply me
thanks
naanu
With 1 credit you can subscribe to one star for one month. 5 credits cost Rs.2500/-, that’s the minimum.
thank u so much sir
Some issue with the gateway, we are working on fixing this.
Hi Nitin/Venu Sir,
Can you please incorporate option of download to excel for trades in TRADE FEED. Its very difficult to analysis at the end of the day to study the trades taken by the STAR .
Yes on our list.
Hi Nithin,
Hope you are working on the sms/email issues… Addl issues below for yr considerations>
1. We need to club a 1 trade (Entry till Exit) in one line/row on the dashboard with preferably the %profit/loss (maybe in a tabular form or entry/exit clubbed one below the other…
2. Also, a unique “Trade No.” for each trade is desirable to track/monitor etc.
3. Trades in a single day need to come on a single page and not in multiple pages… or with an option of trades per page (like we have in Flipkart etc.)
4. MIS/NRML position is essential for carrying forward a trade, if star may do so and also, you need to check if auto-squared-off trades are also being relayed to followers or not..
5. Desktop notification that is mentioned isn’t working in IE browser and also in Firefox…
6. Positions under the portfolio tab and current open/actual positions in trade feed do not match and are inconsistent…
Looking forward to your feedback and resolutions..
warm regards..
Working on it.
hello…can we expect margin funding this year…?
yes hopefully.
…any best performing star for swing trading?
HI Nitin/Venu
For Andromeda trade feed is from 23rd March and for Ursa Major trade feed from March 18. So does it mean Andromeda there were no trades from 18th to 22 March ?
The historical trade feed might have started on different days for different stars.
Hi Nitin /venu
Big request for you. Please include stars which are positional traders. All present stars in the list are intraday traders. I am not learning anything nor I want to learn anything from them. Please do something.
Yes, we will add more traders soon.
If one wishes to filter like this —- Top Performer of the last seven days — his MIS orders are more than NRML orders — segment traded NSE equity… then how do you do that?? … Sorting and Filtering is Most important Feature we need.
Hi Nithin,
The Email/SMS delivery are still extremely inconsistent… I ain’t rec’d any emails/SMS from Andromeda. Neither there are any desktop notifications rec’d from Andromeda…
It is 3rd day now since the problem is persisting. Please look into this, at the earliest!
Hmm.. this seems to be working fine now. Can you send an email to [email protected], someone will get back
Also, “EXIT” word is now not appearing in the Exit Trades… It is required so as to avoid confusion.
Checking
How soon can we expect some stars from the Commodity fraternity
Again today no Email/SMS delivery from Andromeda…
Pls do something urgently to restore this and pls make this stable!
Now restored … Thnx!
Now, there is problem with Ursa’s feed 🙁
Again no SMS/email from URSA’s trade today
Hi Nitin / Venu
1)Please include stars which are positional traders. All present stars in the list are intraday traders.
2)When we expect to see the download to excel function for Trade feed.
Hi Nitin / Venu,
There is an issue with Portfolio Tab in Evening it shows stars IS holding the portfolio and in Night it reflect star is NOT holding any portfolio
“EXIT” word is missing in some trades and “COMPLETE” is missing in some other… This is creating a lot of confusion!
Please match/pair the Entry trades with Exits and you will find for yourself that there are many loose-ended open/clashing trades!
Something like below may be thought of>
Color the text as:
– Fresh Long Entries in Green
– Fresh Short entries in Red
– EXIT Partial in yellow/light blue
– EXIT Complete trades in dim black
Whatever way you do it, but it needs to be stable and consistent for all trades w/o intermittent missing remarks etc.
Dear nitin sir,
Can you put total gross profit/loss for star traders? it will give more clearancy.for like year wise or from starting on wards..
Regards
naanu
Hey,
Any referral link for opentrade 🙂
Again no SMS/email for the trades of PEGASUS and URSA MAJOR on 31/3/16.
I think it is sorted today, can you check.
When can we expect for opentrade to start sharing MCX trades also??
Does Pegasus trade thru’ Zerodha terminal?
coz his avg trades shown are 13 per day…
but as of now he hasnt ever traded > 2-3 trades… or is his feed not being relayed?
Pls clarify..
Also, it would be good if you describe the style (NOT strategy/system) but style or philosophy of star traders
eg- he likes to trade Stock FnO intraday & is a scalper and keeps his trades for 2-10 mins… or .. he is a positional trader and takes his trades based upon so & so etc.. must be described with lil bit of his trading principles..
Think on this pls!
Opentrade will evolve with time.
Pl. also show how many trades avg a star takes.. Am following Andromeda. He takes over 30 positions in a day!! No way to follow that!
This average trades per day is already displayed on Opentrade.
How to calculate average capital (STARS)
It is basically total account value for everyday, and then an average for the last 90 days. Total account value or net liquidation value = current value of his holdings + free cash+ value of options+ all margin blocked – any short option premium.
I am unable to see the average trades taken by a star per day. Pl tell where to look to see it.
it is just below the stars average capital
Regarding “avg number of trades”, is SAR calculated as 2 trades. Ideally, it should be calculated as 1 trade, as the star has to put in only 1 order (with double quantity). This will help subscriber to know if we need to put in less number of trades than suggested by the ‘avg number of trades’
SAR is considered two trades.
I have account with zerodha..can i pay through my friends credit card to buy stars?
Yes
Hi,
(Hope you take below positively with an open mind)
The trade feed from stars isn’t satisfactory and practically un-followable and there is nothing to learn from the trades neither earn consistently..
I am following 4 stars since 1 week…
One star trades so so so fast and so heavily that before we take positions he is in-out… It is humanly impossible to take his trades… It seems like an Algo is trading!! Seems he may be using an algo thru’ Pi bridge or similar (I think)
Other positional stars never book profits even if they be +100pts and exit at cost when stock comes back to entry… more surprisingly they keep “reversing their positions” frequently at entry levels and keep switching their stand in few 15-20 points (taking consistent losses)…
Even if we assume positional trades (Not taking 100+ pts profit and exiting at cost and then keep on reversing positions just for mere 15-20 pts. that too with losses)… This doesn’t look to be humanly normal!
The %profit/loss quant reports keep changing w/o any basis with very wide swings… eg- a star’s performance showed 36K profit for 23rd Mar till yesterday and now it’s showing 72K for 23rd itself!
There is nothing to be learnt wrt knowledge/style and nothing to be gained in monetary terms..
I think we ie- everyone in Zerodha (Mgt + Clients) must relook and regroup ourselves to make this wonderful idea workable, otherwise it will keep losing its sheen in the days to come!
Looking forward…
Best of Luck &
regards
For this I guess zerodha should provide additional feature as “Followers Rating” … How much followers rate him out of 10 or out of 5… Also if possible followers should write his experience/review following a star somewhere … so will you add a opentrade forum for that in which only zerodha members can sign in and discuss all about opentrade and stars among themselves ?
Rating a star maybe, but not really a forum. Don’t want the stars to be bothered about all of this. The idea is to be able to run this initiative without any interference or distraction to the star.
You should also display the standard deviation of returns to given an indication of the volatility in the star’s performance
Hi Nitin,
Great initiative novices like me.. Just want a clarification, does the profit % given for stars take into account the brokerages, other charges and tax paid??
No Tridib, these are gross returns.
Is the profit based on average capital which includes free cash also? Or is it only based on required margin?
If it includes free cash and So, if any star keeps any free cash in account for drawdown, his profit percentage will go down? To show more profit percentage, he will try to withdraw and keep bare minimum.
Average capital = free cash+holding value+ margin blocked. But I guess people will know that a star making lesser returns with a lot of capital is a better option than lower capital with higher returns.
That’s for people to judge but then we can not compare star returns fairly. As a trader, i may be more comfortable keeping extra cash in account for drawdown and might be making more returns on my margin compare to another trader who is making less returns on margin but showing more profit percentage if he does not keep extra money for drawdown. To make fair comparison, profit should be calculated based on margin only and should be clarified in your tutorial.
Also, I agree that it should be net returns (as traders making more average number of traders might be making more gross returns but might be negative net returns or hardly positive returns). So, this is misleading.
Please try to think from perspective of subscriber as your data is misleading (not helping us to objectively compare the stars).
We are working on adding a bunch of things. Flashback for every star will also be available from monday.
Profit percentages should be on profit after brokerage,charges and taxes .That will give real picture of profitability as the profit comes in the ledger is after all the charges.
We are making some changes, hopefully by next weekend u will see a lot more.
Showing gross returns without any expenses is very misleading & inflated. Actual Net returns may be very less or in negative after all expenses. Gross will always be very high with multiple trades within a day.
We are making changes, by next week we will change it. Btw, quants will be on gross basis itself for now.
While trying to follow a star, follower is taken to login with zerodha account credentials and give undertaking to allow access to his account.
Why is a follower asked to authorise you to –
(1) access to his holdings/positions
(2) Account balances and
(3) place, modify and cancel orders
This is basically a standard kite connect API check that we are using. We don’t need any of the authorization, we will have it removed soon.
Out of 5 Credit, Can i follow 2 star (using 2 credit) for one month and remaining 3 credit in Next month.
Yep.
Can you show at least one year performance of these stars? It should be month wise.
We have opened up quant, where you can see graphically the performance for 1 year. We will also put up more numbers soon.
Hi Nitin / Venu
1)Please include stars which are positional traders. All present stars in the list are intraday traders.
2)When we expect to see the download to excel function for Trade feed.
1. Yep we will.
2. Don’t know about excel yet, but we will give you a filter option soon.
How will we know if a Star is trading or not (ie- on Hioliday) on a given day?
Maybe a “Welcome message” from the Star in the morning (after he logs-in) would be nice to indicate that he is trading, otherwise followers will keep on waiting & guessing for the whole day – even if the Star may be on a holiday 🙂 (esp. Intraday Star Traders)
Moreover, a brief pre-opening and mid/after Market outlook from Zerodha or Star will be good for all those who have subscribed to Opentrade.
I am following PEGASUS, CORVUS and URSA MAJOR.
Today (5-APR-16) I got SMS and emails only for the trades of URSA MAJOR and no SMS and emails for the trades of PEGASUS and CORVUS. Please look into this issue.
Some issue with the SMS gateway, can you enable destop notifications.
How to enable desktop notifications ? (my OS is windows 10)
Please check the following:
For Corvus today, it was relayed as follows>
In the same scrip traded>
EXIT Sell “Complete” was given 2 times consequently and after that Buy the same scrip…
This is weird!
How can he Exit same position “completely” 2 times?? that means partial should have been stated in the first Exit…
You must do something about this guys and make this error-free and stable.
Checking.
Flashback tab is added however its not working its blank. When it will be functional.
Can you check now, should be working.
sir how to pay it will get deducted from our trading a/c or should we pay separately Rs.500/- to follow start trader.