Zerodha Challenge -- Anybody in With me

[kiranjakka]

just got the statement from zerodha i am in net profit and paid a brokerage of 960 total brokerage paid 2580

 

[TraderRavi]

just got the statement from zerodha i am in net profit and paid a brokerage of 960 total brokerage paid 2580

are they informing every client individually...about his/her position..in this challenge?

 

[kiranjakka]

are they informing every client individually...about his/her position..in this challenge?

offer valid on all the accounts of zerodha. existing and new accounts cash,fno,mcx all segments after 14th february. i guess your are the good at scalping. came to know about your chat secessions.

 

[TraderRavi]

offer valid on all the accounts of zerodha. existing and new accounts cash,fno,mcx all segments after 14th february. i guess your are the good at scalping. came to know about your chat secessions.

At present I am hardly doing 2- 3 trade per day.....so brokerage paid is 40 - 120 per day only...even earlier max 6 - 8 trades per day (300 - 400 per day) .....but considering brokerage paid by you, looks like u are doing more than 10 trades per day...!!!!

 

[TraderRavi]

Are they considering ledger balance at the end of 14th feb or at the end of 15th feb, for start.....and what is the exact closing date after 3 months ..

 

[NTrader42]

i am going to try out this thing with my wifes trading account making a deposit of 5000rs so to beat zerodha challenge i need to have 5001rs on 13-04-2012

Hello Kiran

My regular trading account is with RKG, (Transaction Charges with ZeroD are more by about 220/cr/side, so total cost works out almost same) but I have opened an account with ZeroD about 2 weeks back, and funded it with 1L, shortly i will start trading with them also.

About the challenge, i agree with the view expressed by ST. For every transaction the "Other Cost" is far bigger than the cost that is under the head 'brokerage'.

For e.g. for 1 round lot nifty/bank nifty the transaction cost is rs 125 but the brokerage is just rs 40, if we trade with average size of 4 lots then the transaction cost of 1 round trip is 375, (Refer: http://www.zerodha.com/main/calculator/calcs.html) but we will get back just the brokerage part i.e. rs 40. Add to that the operational expenses at our side, the cost of data, software, power backup, broadband, phones etc, effectively 90% of our costs still has to be earned from our trading profits.

Its nice to have a challenge like this. Our main intention of being a trader is to earn a substantial return on the risk capital we deploy. Getting back 10% of our operational cost as a reward for successful trading is a nice feeling. Anyway, enough of this rant

I will update here periodically how it goes with my account, Initially for a start i plan to trade only intraday with NF/BNF, eventually i would do swing trading and maybe also options.

Key to winning this Zerodha challenge is dont go for small scalp trades......you will not be "net profitable" with these small scalp trades after paying brokerage, STT,other charges, stamp duty etc...

The traders who trade as per " let your profits run and cut your losses quickly " only will be profitable at the end of the period. You should never have a large loss which will eat away all your small profits. It will be a worthwhile excercise to do analysis of how the profitable guys traded, without mentioning names etc.That will give great insights of how the successful traders trade. The privacy /secrecy of these challenging winning traders should be protected by not revealing their names.

Smart_trade

Thanks
NT

 

[kiranjakka]

i am trading with 5-10 lots of nifty per transaction in options and just looking of 50 paisa to 1 rupee profit or loss and exiting the positions so you make 250-500rupees per transaction. if right positions take make 2 rupees too. but what i felt the problem is we have to square off our positions even if i can make a profit double or triple i make with positonal call. but the most intresting thing is 95 percent of the trades i made are profitable since past 3 days

 

[timepass]

Maybe we should get them to clarify whether index futures and options are also considered for these exchanges.

the details of zerodha challenge are as follows:-

Zerodha 60-day Challenge

We are very happy to announce the Zerodha 60-day Challenge which we will run on Equity (Cash and F&O), Currencies and Commodities from February 15, 2012.

Zerodha 60 Day Challenge-Offer Details

For now this would be a one-time offer and we will continue it based on the response we get.

Exchanges Applicable: NSE (Equity, F&O, Currency)

MCX (Commodities)

The Zerodha 60-day Challenge will start from your first trade on or after February 15, 2012. The contest will run for a total of 60 trading days. If the cash balance in your account on the 60th day is more than what it was on day one, you will get back all the brokerage you paid us during this period.

6. Both Equity (intraday equity and f&o) and Commodity will be considered as separate individual challenges.

 

[kiranjakka]

Maybe we should get them to clarify whether index futures and options are also considered for these exchanges.

guess that wont be a problem at all, all are included with respect to contracts.

 

[sekharjchandra]

i am trading with 5-10 lots of nifty per transaction in options and just looking of 50 paisa to 1 rupee profit or loss and exiting the positions so you make 250-500rupees per transaction. if right positions take make 2 rupees too. but what i felt the problem is we have to square off our positions even if i can make a profit double or triple i make with positonal call. but the most intresting thing is 95 percent of the trades i made are profitable since past 3 days

Hi Kiran.. What is the Breakeven points for Options in NF/BNF when we trade with Zerodha ? Is it 75 Paisa or less than that ?