Fake pnl of live trading: Finfluencers scam

@nithin great initiative
A query
If some one is dis satisfied with the person who referred him is there an option to stop his referral income from customer side . As I believe the person will continue to earn even though he mis sold .

Each verified P&L link is a compute request. Longer time frames as you can imagine can take a lot more resources. That said, we are extending this to two years. But longer will be tougher.

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You can create a support ticket for this. If there is enough and justified reason, our team will do the needful.

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This is not good according to me. People can now only share one year data. We instead needed a feature to share different periods and more than one link but it got even worse. Like one trader was trying to post FY wise pnl from 2020 but each link was referring to the last one he generated. Earlier at least he could post 2020 FY data if he didnā€™t modify the link but now even thatā€™s not possible. And even if you add 2 years worth of data, it will still all be combined together with the latest data.

So please consider allowing custom ranges. Instead of forcing us to always include latest data, you can impose minimum custom range if someone shows past data. For example, user canā€™t include less than 3/6 months(or whatever you see fit) data if he wants to select a custom period. That way they will be able to share past FY/calendar year pnl without combing it with latest data.

Please reconsider this.

Edit - You mentioned about server load. Iā€™m not an engineer/developer so I might be totally wrong here. But are you guys calculating everything everytime someone clicks that link? If someone has selected static date range in the past(not updating daily) then you just need to calculate once and then show the same data/image everytime someone clicks it. Afterall itā€™s past data and it canā€™t possibly change. Wouldnā€™t that reduce server load.

We will extend the current one to 2 years. A two-year track record is enough data to show someone else. I donā€™t think there is any reason for someone to selectively pick and choose time periods. That can be gamed as we have seen in the recent past.

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Nice Move @nithin with recent update on Verified PNL within minimum data of 30 Days!
also Live pnl (updates everyday)

360 days is max ā€¦ but Please do bring ā€œLifetimeā€ Data option also ā€¦ i am loving it!

also is it possible to showcase ā€¦ Pnl worm ?

Revised to 2 recent years.
As explained above by him, at scale it creates alot of additional load but again mentioned in earlier posts, they are working on an Equity curve that have many more metrics.
Just knowing PnL without capital deployed is also not very useful as it is currently.

I personally am of the same opinion that if someone wants to post public PnL, it should be a bare it all single PnL since inception :slight_smile: light weight as in probably not the trades listed but full performance instead of something that is a recent period.
Probably have to compute one-time for previous FYs and cache/store it.

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twitter users are roaring and Z is trending on X :rofl:

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This is very much required. Absolute values make no sense.
From what I have understood about equity curve, this problem will be solved. But then we do not know when will it come.

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Zerodha team - I think its good to just move on. A person good in manipulating will do so - whatever restrictions you bring in.

I still feel sad for those who look at those screenshots and build their dream castle.

Making money via trading is the toughest job on earth, still people believe its a cake-walk and fall for shortcuts. Next time some one gives you a tip - ask for the rationale (logic) and learn the WHY part.

@nithin - if possible mandate the FA and TA test module on zerodha varsity for all newcomers. Double mandate it if they are on a losing streak of more than 3 months.

Hopefully before October. We will put it up on Tradingqna when it is ready for Beta. Hopefully faster.

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There is no way we can mandate this. Will end up being paternalistic. The best we can do is nudge them to take these. Maybe once the equity curve is live, we can have drawdowns as triggers to take certain modules.

@nithin

How do you have soooo much patience??? Amazing!

One of many other characteristics needed for an entrepreneur, I lack and that is why I may have failedā€¦

Just awesome to see it action. Wow!

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Trading in Equity or F&O comes under financial activity as we understood from our conversation one-to-one with RBI on some matters where eventually we have to close the activity or wind up the company. IF your income from Financial activity and assets are more than 50% of financial activity we need to go NBFC License from RBI. This is our first-hand experience. This is very important for people who are in multiple businesses and apply for RBI for some or other registrations. The deep verification by RBI will compel the companies/group companies if they are involved to close the activity or face action. RBI DO gives a chance for compliance.

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There is one paper trading app exactly look like zerodha app everything is same but some people showing fake profit using original zerodha app. This is very dangerous for zerodha brand value and for customers also.

It helps if you love what you are trying to solve for as a business. :grimacing: Stock markets, Trading, etc. like my first love. I doubt if I could have been able to give this so much time if this business was, say, into banking or lending, something I donā€™t care much about. :slight_smile:

So yeah, the ability to build a profession or career around something you care most about is probably what every person should chase. Even if it doesnā€™t bring in money, it ends up being a lot of fun.

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https://www.rbi.org.in/commonperson/English/Scripts/FAQs.aspx?Id=1167#:~:text=Financial%20activity%20as%20principal%20business,registered%20as%20NBFC%20by%20RBI

There is definitely an NBFC requirement, but unless you reach out to RBI for something or RBI reaches out to you for something or if your auditor doesnā€™t file the exception report to RBI (which is required if financial income is more than 50%), then you may not get spotted.

Also like @TAXIQ.IN said, whenever RBI spots and asks for registration, they will provide time.

By the way, if this really has to be done, maybe partnership firm is a better option.

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Yes i have checked the options data, but now i think its not intraday.

But he is selling options, then how he is able to manage selling so huge qty as required margin will be huge.

Yes, He is selling options. I have seen one or two videos on YT. He sells deep ITM positions aggressively. Margin required is huge which he reduces by buying a few options to get margin benefit.

@nithin Apologies for deviating from the topic slightly, but I couldnā€™t find any other way(despite 20 or so common connections on LinkedIn). I am a strategy prof at IIM Kashipur who teaches platform business models. I believe that your move of verified public PnL statements is a game changer with multiple implications. I want to convert it into a case study. If you are up for it, could you please ask anyone from your team to connect with me in LinkedIn. I can be easily searched by googling ā€˜Vivek Kumar strategy IIM Kashipurā€™. Many Thanks.