Fyers 30 Days Challenge - Discussion

[rahulsharma17]

Yes Tejas, I feel that if they share their strategy/experience of keeping themselves profitable during the course of the challenge then that would definitely add value to others.

 

[Tejas Khoday]

True, will think about the pros & cons of doing that

Ask everybody to create a alias which will be used to publish the 30 day challenge results ...and then publish the leaderboard with the winning amount against their alias
alias will not expose names yet we will have a list of winners in ranking wise.
It will be a good for somebody to know where he is among the winners

@bpr This makes sense. Creating a leaderboard with Alias names. Hmm.. what if someone opts not to? Then he won't be a part of the leaderboard or if chooses to come in next time, his ranking will be effected.

 

[timepass]

If someone opts not to, fine, don't publish his name. No need of ranking/leaderboard.

Most of all, you don't want to get hit with privacy issues.

The 30-day challenge is not really a contest. Maybe think of a different name which does not include the word "challenge".

There is no doubt that the other traders will benefit from the experiences of the profitable traders, should those guys want to share.

 

[Tejas Khoday]

If someone opts not to, fine, don't publish his name. No need of ranking/leaderboard.

Most of all, you don't want to get hit with privacy issues.

The 30-day challenge is not really a contest. Maybe think of a different name which does not include the word "challenge".

There is no doubt that the other traders will benefit from the experiences of the profitable traders, should those guys want to share.

A challenge need not necessarily be a contest. The idea of a contest has not been particularly encouraged by SEBI. But don't you think leaderboards give out the impression of a contest? The grey area is tricky.

 

[timepass]

A challenge need not necessarily be a contest. The idea of a contest has not been particularly encouraged by SEBI. But don't you think leaderboards give out the impression of a contest? The grey area is tricky.

Maybe, with the customer's permission or assent in the T&C of the challenge, you could publish the account number and the amount of refund, in alphabetical order or something.

My thoughts : You guys are finding your feet as a broker. This 30 day challenge is a great marketing activity. Keep that up. But don't get involved in any extraneous activity, which can be quite taxing and counterproductive. Just concentrate on trading tools etc. till you at least have a critical mass. What would Fyers gain by analysing the performance, relative or individual, of the traders ? Won't add to the brokerage or turnover.

 

[bpr]

@bpr This makes sense. Creating a leaderboard with Alias names. Hmm.. what if someone opts not to? Then he won't be a part of the leaderboard or if chooses to come in next time, his ranking will be effected.

u can make it mandatory at the enrolling time of 30 days challenge ...in terms and condition..
I think it is fair ...

 

[bpr]

Maybe, with the customer's permission or assent in the T&C of the challenge, you could publish the account number and the amount of refund, in alphabetical order or something.

My thoughts : You guys are finding your feet as a broker. This 30 day challenge is a great marketing activity. Keep that up. But don't get involved in any extraneous activity, which can be quite taxing and counterproductive. Just concentrate on trading tools etc. till you at least have a critical mass. What would Fyers gain by analysing the performance, relative or individual, of the traders ? Won't add to the brokerage or turnover.

In my previous post what I meant is the PNL of the trader during the challenge but the brokerage refund can also be included.
PNL is the important statistic that many people will be interested to visit the leaderboard page.

 

[kingsmasher1]

True, will think about the pros & cons of doing that . Any other suggestions? Publishing names is one thing but would there be any value add if there was an interview of sorts?

Interview of winners is very beneficial. That will definitely motivate other people, to take up trading, and in-turn fyers will get more clients

If i recall, Zerodha in their early days of 60-day challenge used to publish interviews of all the winners.

 

[timepass]

.... and, then they discontinued it. Why ? Easy to start new activities, difficult to sustain them over an extended period.

With brokers offering brokerage refund at month end, no challenge, and other lucrative schemes, any broker will his plate full. I'd rather Fyers concentrated on their core activity at this stage. They've started good.

Interview of winners is very beneficial. That will definitely motivate other people, to take up trading, and in-turn fyers will get more clients

If i recall, Zerodha in their early days of 60-day challenge used to publish interviews of all the winners.

 

[Tejas Khoday]

Maybe, with the customer's permission or assent in the T&C of the challenge, you could publish the account number and the amount of refund, in alphabetical order or something.

My thoughts : You guys are finding your feet as a broker. This 30 day challenge is a great marketing activity. Keep that up. But don't get involved in any extraneous activity, which can be quite taxing and counterproductive. Just concentrate on trading tools etc. till you at least have a critical mass. What would Fyers gain by analysing the performance, relative or individual, of the traders ? Won't add to the brokerage or turnover.

Your feedback is so valid and I agree with you.