Fake pnl of live trading: Finfluencers scam

[Aman_Julka]

Many traders and finfluencers are openly showing and suggesting for trading through corporate

[Kartik_Mehta1]

Hi @nithin I’m facing alot of issues from your MF app Coin. Since you guys are planning to have your own AMC launch soon, I thought I shared with you the feedback as a regular consumer of the app.
Such a disaster experience it has been through the Coin App:

• Transacted SIP (0/9999) in Nippon India Smallcap Fund is not updating even after 10 days of SIP deduction it is still showing as 0 completed
• Mutual fund folio/schemes vanishing overnight all of a sudden without giving any intimation to us regarding non-business day of mutual fund house or any issue from BSE master fetching
• My customised SIP changin to AMC SIP even though if there’s a mandat from mutual fund AMC house, but still why there’s no intimation or information passed on to consumer or the customer of COIN or Kite in these cases

You guys claim to work towards betterment of retail clients, is it really true or am I the only one started facing a lot of issues pertaining Kite and Coin app lately

[Karan_Singh1]

Why cant we make it compulsory for people who have more than X amount of affiliate links to showcase their lifetime pnl across all their accounts on different platforms ? Or for affiliate links we can make it a compulsion

[Adarsh_Pai]

Instead of link, I think we should a option to search the user in our console and then click on the user and check his PnL. This will avoid any manipulation. The trader should have a option to accept and share it. Though this limits to only those who have login to zerodha but I believe the number of user vol is high. Any one selling a referral should not have a issue if he is genuine

[SaketS]

This is not edited , this is real PnL of someone for one day.

[nithin]

@Alphaalgo

See the above Zerodha verified PNL edited

Source : https://twitter.com/Mostly_Momentum/status/1696379414294974668?t=Syz5yRJYhUa6uguGA92BYw&s=19

He has just selected one day and shown the P&L that is profitable. I guess the idea here has to be to ask for an up-to-date P&L.

Verified P&L can’t be manipulated.

[nithin]

@Aman_Julka

Dear nitin if you can also please clear if trading in F&O can be done using corporate structure or not. Many good traders i know are trading in F&O using pvt ltd. Whether any nbfc license or any other license is required for trading in F&o through corporate structure.

You will need NBFC license if more than 50% of a company’s income is financial.

Check this.

Trading F&O via LLC or Pvt Ltd

Hmm… we have discussed earlier in the thread that if you setup a company only with the purpose of trading, you will end up needing to take an NBFC license. A company or limited liability partnership (LLP) is created with those wanting their money to be managed being shareholders or partners. Their pooled funds are then used as trading capital. There are a couple of issues with this. Firstly, an LLP with the objective of investing or trading is not allowed, so people use an alternate objecti…

[nithin]

@Krishnakumar

• Allow the date range to be more than 1 year.
• show capital infused during the selected period
• show final capital in the account
• allow the users to select a smaller range like how we have in the console (this is within the range the trader has selected for the verified pnl)

I think these would be useful, you can fwd to your team if you find it useful

We are coming up with an equity curve feature on Console. Think of it like an MF NAV curve but for every individual account. This will solve everything that you are asking for and we will try showing this in the Verified P&L page as well.

[nithin]

@Shrey_Bhandari

Is there anyway of being a profitable trader in long run? Does it rally exists?

There are profitable traders, but a tiny percentage. Trading is very similar to running a business. Only a few companies that start end up surviving or doing well.

[nithin]

@Aman_Julka

Many traders and finfluencers are openly showing and suggesting for trading through corporate

If they are doing this, they are taking a risk of RBI sending a notice to them.

[nithin]

@Karan_Singh1

Why cant we make it compulsory for people who have more than X amount of affiliate links to showcase their lifetime pnl across all their accounts on different platforms ? Or for affiliate links we can make it a compulsion

@Adarsh_Pai

Instead of link, I think we should a option to search the user in our console and then click on the user and check his PnL. This will avoid any manipulation. The trader should have a option to accept and share it. Though this limits to only those who have login to zerodha but I believe the number of user vol is high. Any one selling a referral should not have a issue if he is genuine

Hmm… I don’t think this can be done. The idea of having affiliate links is to help customers introduce new business. This has nothing to do with their profitability as traders. They are two different things.

[Mayur_Patil]

Hi Nithin,

1> Can We please increase the Verified pnl days for more than 365 days? like we have in console? … it will help give more credibility of a long track record.

2> Can we also see sabermetric features in future on this verified pnl page? … earlier we had QUANT … Which showed many stats.

[nithin]

@Mayur_Patil

1> Can We please increase the Verified pnl days for more than 365 days? like we have in console? … it will help give more credibility of a long track record.

2> Can we also see sabermetric features in future on this verified pnl page? … earlier we had QUANT … Which showed many stats.

1. Yep on our list of things to do.

2. As I mentioned above, we will soon have equity curve. Once that is there we can show everything from % drawdown to sharpe ratio to a lot more.

[Jason_Castelino]

@nithin

We are coming up with an equity curve feature on Console.

By when can we expect this?

[Punit_Chotia]

@nithin Finfluencers create content for educational purposes. They should only earn from paid content, or platforms as ads revenue (YT, X, their own website/app). Any other revenue stream will always have this risk of duping investors as greed kicks in.

[Moriarty]

I am so eagerly waiting for this feature since many months. Please launch it soon or maybe in closed beta at least. Or maybe concurrently like new.console.zerodha.com. I’m afraid that if regulator makes any major changes, this nav curve feature will go on the backburner for another year.

[hencjjsjahhaj]

That’s zo true

TV chrts still haven’t come and no SEBI is in the way

[Abhishek_Srivastava]

@nithin Ji, since you were a very good trader. How you used to trade, your methods, preparations, setups/models, how you developed an insights etc, time to time if you can share as a blog/video etc. That will help people in a right direction.
As it is coming from you, who himself started from trading and started his own venture related to it.

Also, what was your net ROI till the time you left trading? (out of curiosity )

[Adarsh_Pai]

Hi Nithin
Instead of link, I think we should a option to search the user in our console and then click on the user and check his PnL. This will avoid any manipulation. The trader should have a option to accept and share it. Though this limits to only those who have login to zerodha but I believe the number user vol is high. Ppl giving referrals should ideally do this if they are genuine

[Lokesh_Gowda]

@Nithin is there any way charges for F & O reduced