zerodha pi delayed again

newbie_7

Active Member
#1
hi,

the waiting for Pi has been endless...over a year now. Honestly I do not think Pi will live upto its hype. It is being developed by financial tech which is no better than Nest. People who have tested Pi have reported inconsistency in data which in turn means incorrect charts. The data will be from Nest which everyone knows is useless both in terms of usage as well as charting...only fools would use charting in Nest.

It is obvious that zerodha is looking to go cheap with Pi to make up for their low brokerage...what is the use of discount brokerage when data and charts are not reliable.

As far as the quality of Nest goes...have you seen this security question when you login...how many floors dose your building have? ....notice that "does" is spelt wrong? I could forgive that mistake in a reliance AGM report because grammar isn't their business...but for a software company that's suicidal...it shows how much interest and passion they have for their work. And to think that even after such a long time and so many updates, they haven't even bothered to correct it. This is the quality zerodha is offering in lieu of low brokerage.

Zerodha would have done well to find out who developed sharekhan's trade
tiger and got it done by them but instead they are offering some fancy stuff with unreliable data and charting... 50000 candles, hundreds of indicators and studies coupled with 3rd rate data...wow mr Kamath....your clients will all become millionaires overnight.

The reason I am writing this is to warn traders not to close their account with other brokers that offer clean data with good charting. DO NOT depend on zerodha for these two vital aspects of trading or you could find your stop losses being hit all the time. I do have a account with zerodha but I do not use their data or charting (NEST) because I don't want to go broke for no fault of mine.

Its only a matter of time before other major brokers jump onto the discount brokerage bandwagon. If zerodha continues with this cheap mentality, it may not survive very long...most people would like to chart & trade on a single reliable platform, but with the kind of companies doing their software, zerodha doesn't seem headed in the right direction.

When other brokers with a reliable platform offer similar brokerage...its bye bye Pi...

regards..

newbie_7
 

arora

Well-Known Member
#2
i completely agree, with above statement, Data is nor reliable at all, both in NEST and PI.

like today i opened banknifty5 min chart current series at 9:02AM,

than to verify data i opened banknifty 5 min chart current series around 9 : 45am.

however security was same but there was difference in O,H,L,C of every candle.

that means there will be difference in data of charts in number of computers, as every computer will open PI at different time.
which means data is worst. One chart can show entry signal but other may not, as price will be not same.

Right now PI is of no use? its sh*t. don't waste time on PI

thanks
 

onlinegtrash

Well-Known Member
#4
I don't think PI as anything spectacular as they boasted...

I would give 3 stars out 5.

Visually charts are okay but no where near industry standards (say MT4, Ninja Trader, IB or Thinkorswim). Charts doesn't even have mouse listeners to zoom in and zoom out one have to press arrow keys! Yesterday MCX close data and their chart didn't match...
Usually a desktop app should look and feel far better than web app but ironically web charts in investing.com or tradingview app (see here: http://tinyurl.com/nt7qgej ) looks better than PI charts.

conclusion: Okay platform nothing to boast, charts seem to be inconsistent too. Since its beta... lets wait.
 

newbie_7

Active Member
#5
timepass,

I do not understand what you mean...beta version identifies bugs and other glitches which are then corrected. We are not complaining about features, indicators etc, but about quality of data and its effects on charting. This is the very basis of a trading platform. Any broker who compromises on this is putting his client's money on the line...and that is not acceptable under any circumstances.

And to add insult to injury, zerodha is talking of algorithm trading....that's the joke of the decade. If we use their data or charting for any trading, let alone automated trading, we could all meet someday at a beggar's conference !!!

A beta version gives you a feel of what you can expect. It's a good thing they released the beta version, coz now we can keep our expectations low or better still have no expectations at all.

I know this will hurt a lot of new traders who are waiting eagerly for Pi....but the truth always hurts. These new traders are fascinated by number of candles, indicators, colour schemes and blinking lights but any good trader who makes money will tell you that these are not necessary.

In fact, the more fancy they make it, the more problems you will have....ask a software guy...he will tell you.

All zerodha had to do was provide a simple reliable platform with clean data and basic indicators/ drawing tools. The bells and whistles were not necessary.

regards,

newbie_7
 
#6
timepass,

I do not understand what you mean...beta version identifies bugs and other glitches which are then corrected. We are not complaining about features, indicators etc, but about quality of data and its effects on charting. This is the very basis of a trading platform. Any broker who compromises on this is putting his client's money on the line...and that is not acceptable under any circumstances.

And to add insult to injury, zerodha is talking of algorithm trading....that's the joke of the decade. If we use their data or charting for any trading, let alone automated trading, we could all meet someday at a beggar's conference !!!

A beta version gives you a feel of what you can expect. It's a good thing they released the beta version, coz now we can keep our expectations low or better still have no expectations at all.

I know this will hurt a lot of new traders who are waiting eagerly for Pi....but the truth always hurts. These new traders are fascinated by number of candles, indicators, colour schemes and blinking lights but any good trader who makes money will tell you that these are not necessary.

In fact, the more fancy they make it, the more problems you will have....ask a software guy...he will tell you.

All zerodha had to do was provide a simple reliable platform with clean data and basic indicators/ drawing tools. The bells and whistles were not necessary.

regards,

newbie_7
I guess they will finally provide a simple reliable platform and clean data and basic indicators/drawing tools; and with bells and whistles too.. Maybe that "finally" time limit is a bit far off.

As for me, I did volunteer for it, tried the first two beta versions and that's it. Am not going for Pi till bracket orders are available, and till a lot of positive reviews from regular traders using various facilities in different ways.

I am reminded of the time when Nest was offered. The initial reaction was euphoria.
 
#7
hi,

the waiting for Pi has been endless...over a year now. Honestly I do not think Pi will live upto its hype. It is being developed by financial tech which is no better than Nest. People who have tested Pi have reported inconsistency in data which in turn means incorrect charts. The data will be from Nest which everyone knows is useless both in terms of usage as well as charting...only fools would use charting in Nest.

It is obvious that zerodha is looking to go cheap with Pi to make up for their low brokerage...what is the use of discount brokerage when data and charts are not reliable.

As far as the quality of Nest goes...have you seen this security question when you login...how many floors dose your building have? ....notice that "does" is spelt wrong? I could forgive that mistake in a reliance AGM report because grammar isn't their business...but for a software company that's suicidal...it shows how much interest and passion they have for their work. And to think that even after such a long time and so many updates, they haven't even bothered to correct it. This is the quality zerodha is offering in lieu of low brokerage.

Zerodha would have done well to find out who developed sharekhan's trade
tiger and got it done by them but instead they are offering some fancy stuff with unreliable data and charting... 50000 candles, hundreds of indicators and studies coupled with 3rd rate data...wow mr Kamath....your clients will all become millionaires overnight.

The reason I am writing this is to warn traders not to close their account with other brokers that offer clean data with good charting. DO NOT depend on zerodha for these two vital aspects of trading or you could find your stop losses being hit all the time. I do have a account with zerodha but I do not use their data or charting (NEST) because I don't want to go broke for no fault of mine.

Its only a matter of time before other major brokers jump onto the discount brokerage bandwagon. If zerodha continues with this cheap mentality, it may not survive very long...most people would like to chart & trade on a single reliable platform, but with the kind of companies doing their software, zerodha doesn't seem headed in the right direction.

When other brokers with a reliable platform offer similar brokerage...its bye bye Pi...

regards..

newbie_7
Completly agree , i also dont use zerodha for charting its totally not user friendly had written to zerodha for improvement of there charting system,,but no surprise its the same
 

newbie_7

Active Member
#9
hi vishal,

Zerodha is not bad for trading. Except for their platform nest everything about them is good. Customer service is good, support is good, withdrawing funds is easy...you can place a request upto 7.30 pm on week days which is convenient.

The only problem is their s/w Nest and if reviews of people who have tested the beta version of Pi are to be believed, Pi is no better. So you need an account with another broker providing good charting with reliable data which unfortunately zerodha has failed to provide. These other brokers may sit on your head to trade with them.

What zerodha is trying with Pi is make a Ferrari with a maruti engine. What they need to know is that active traders just need reliable data/ chating with a few essential tools/ indicators. People who need a fancy platform with 100+ indicators/ tools are the ones that don't trade but just get a kick out of sitting & watching their fancy trading platform. I myself use nothing but price and volume and I am an active trader unless the markets are too choppy and unpredictable like yesterday & today.

What zerodha can do is design a simple trading platform with just the basic tools like horizontal/ vertical lines, retracement, auto pivots, trendline and a few indicators like stochatics/ macd/ BB/ RSI/ ADX/ATR/parabolic SAR/ MA etc. The rest can be made available as file downloads on their website. This will make the platform more nimble and zippy allowing traders to use what they need.

Indiainfoline has also come out with rs 9.99 brokerage. I have traded with them 10 years ago. I can tell you the platform was good. The only problem was that for funds withdrawal, after placing a request online, I had to call and remind them...but it was done. With zerodha you wont have such issues.

Lets hope they do something about Pi...if they succeed in doing what they promised with accurate data and charting I would recommend zerodha.

regards,

newbie_7
 
#10
Yes, apart from Above error's An a serious issues also happening in Zerodha Pi, that stoploss is not hitting in F&O trade. If stoploss order may 1 rupee difference too.....
unless rectify these issues by zerodha the platform going to be useless.
 

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