Fyers 30 Days Challenge - Discussion

[Tejas Khoday]

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

Hmmm...

 

[Tejas Khoday]

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.

True, but then there's additional work involved each time! We're not running a league so to speak. Also, the leaderboard will not be qualitiative right? A trader could've won by taking extremely risky trades and still be on top in comparison to a winner who is consistent and has a great sharpe ratio.

 

[Tejas Khoday]

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.

@kingsmasher1 , Do you know why they stopped?

 

[Tejas Khoday]

.... 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.

Yeah, the 30 Day challenge is an ongoing thing and clients can take up the challenge whenever they like so it uses up our resources quite a bit in calculations, verifications, payments etc. among other things that we are already occupied doing at work.

 

[AK78]

Tejas sir One Suggestion to your FYERS Software Data Quality
in Zerodha His Data Quality is Very BAD In Live Market Open High Low Diffrent
After Candle Finish and Refresh chart Candle Open - High - Low Change

 

[timepass]

Guys, what will be your reaction to an advertisement like this :

"110 % Brokerage Refund !!!!"

"If you lose money, we lose too"

Honest Dalal offers 110% brokerage refund to its customers who lose money in the share bazaar.

We make a winner out of every trader !!
​

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[kingsmasher1]

@kingsmasher1 , Do you know why they stopped?

No clue, perhaps they got too many clients . The last interview they did was on May 2014.
But they got another way to benefit from the winners - the opentrade (where people pay to follow and get the trade journals of all the 60 day winners). https://opentrade.in/

 

[kingsmasher1]

Guys, what will be your reaction to an advertisement like this :

"110 % Brokerage Refund !!!!"

"If you lose money, we lose too"

Honest Dalal offers 110% brokerage refund to its customers who lose money in the share bazaar.

We make a winner out of every trader !!
​

...................................................

Something which is too good to be true always seems fishy to me. Perhaps the reason, in-spite of having an account with Finvasia (zero brokerage) for last 6 months, never had the courage to transfer my hard earned money and trade with them.

 

[timepass]

Something which is too good to be true always seems fishy to me. Perhaps the reason, in-spite of having an account with Finvasia (zero brokerage) for last 6 months, never had the courage to transfer my hard earned money and trade with them.

Why fishy ? Refunding 100% brokerage to the winners doesn't sound fishy ? Used to sound fishy to the members when we first saw it here 5-6 years ago, but then everyone accepted it. The logic was that the broker makes some money on the turnover.

Now, this is called a "Loser's market", with 95% traders being losers. How long before some broker targets the 95% segment, to get much higher turnover ?

 

[kingsmasher1]

Why fishy ? Refunding 100% brokerage to the winners doesn't sound fishy ?

Refunding brokerage to winners like in case of Zerodha or Fyers sounds logical as there are only few (95% traders lose money - the old quote , but here it talks about refunding brokerage to losers in the share market. How does it make sense. Hence sounds fishy to me.

Honest Dalal offers 110% brokerage refund to its customers who lose money in the share bazaar.