Why NEST trading terminal is being stopped by Zerodha?
If they can’t afford it then they should at least start charging customers but why stopped it is illogical as most of the people know that kite can’t handle volatility and there are issues every now and then.
I think most of the high volumes traders would agree. Because of kite stopping / login issues / chart loading issues , many traders have lost . Nest was a good solution to this.
Moreover, I think they have provided NEST for some traders ( maybe some privileged customers)
Cutting costs at the expense of turning the best services (in form of trading platform NEST ) is the worst step. Boosting revenue using these type of tricks is not apt step for your reputation -Zerodha @nithin
Why NEST trading terminal is being stopped by Zerodha?
It is not able to handle load.
Out of our 2 million clients barely under 100 uses that and now most of them moved to kite, also kite not able to handle volatility is merely a misconception.
Nest won’t cost us a dime.
How stopping nest will boost our revenue??
I have never heard of nest not being able to handle loads… in fact the inverse is true … moreover, you have said merely there are 100 users of nest then why to stop and whats the load? illogical
if its not costing you then u should have left the way it is… even with small 100 users … what is
the problem ? and where is the load ?
looks like most of the users are not professionals or you are hiding data … majority of professional traders use NEST /ODIN and don’t use broker platform. Check the tweet from just siva for reference
Well there are numerous examples … please check on twitter as Zerodha was trending last week on twitter for Kite issues
Mate, I have been using Zerodha for 10 years now... Don't you think I wouldn't have used Kite...I tell you again, Kite is good for Mobile... Nest is best for Desktop/Laptop.— Options Scalper (@justsiva123) March 24, 2020
Sorry @zerodhaonline @Nithin0dha , I opened my account 8 years back purely for Nest App which you provided. Since You sent an email that you no longer support Nest, I'm moving the fund & Account from you. Gain for Tradesmart and team please suggest good Brokers who support Nest— Options Scalper (@justsiva123) March 23, 2020
NEST— Mitesh Patel (@Mitesh_Engr) April 2, 2020
NEST— Jegathesan Durairaj (Jegan) (@itjegan) February 20, 2020
This is NEST— Abhishek Kar (@Abhishekkar_) January 30, 2020
Most brokers do provide this additional facility
Any genuine hard core heavy trader prefers to use it to avoid probs on volatile days for execution
The reason NEST seemed stable is because there are very clients who use it. Like Siva said, we had almost 1million people logging into Kite every day and only couple of hundred to NEST. Since there are so few users, of course it would have less issues and you’d hardly see anyone reporting issues. This is similar with most other brokers who offer their own platform and NEST.
NEST as a platform can’t handle more customers. That is the reason in the first place all brokers built their own platforms. It works okay until around 4000 to 5000 concurrent customers.
As a business, it is extremely tough to support multiple products, especially when you scale. Every new change needs to be built across all the platforms. The more the platforms, higher the risk on every new update. This slows the business down. So we had to take the decision of shutting it down. This has nothing to do with costs, there were just around 100 to 200 users when we pulled the plug two weeks back, and there was no additional cost running it.
This is written on NEST website
Low latency, high performance
NEST is an innovative solution offering “Tools of the Trade” for institutional and retail brokers, proprietary desks and exchanges.
NEST beats the crowd with performance.
you are right … i just read that 90k concurrent logins are possible only in NEST. Thus you definitely need different terminal for such a large client base . Although one suggestion would be to build kite as robust as NEST . Also you can till than allow customers to use NEST
That is a marketing pitch right? Like I said NEST works, but can’t scale.
Read where? I don’t think any broker has come anywhere close to 90k concurrent NEST logins ever. Not even close to it.
Like I said earlier, Kite works much much much better than NEST and is a lot more robust if you compare performance (users to issues). Also like I already said, it isn’t possible for us to be offering multiple platforms at same time.
I agree kite handles traffic much better than NEST … But will you be able to upgrade kite to level of NEST I3 dealer terminal ? automatic order executions , order slicing etc ?
Would really like to know how you would be turning kite into a platform which is almost like NEST I3
LOL sorry to burst the bubble, leaving aside high volatile days you should consider punching a single 30K order(in any normal day) in Pi and see how it behaves, IT LITERALLY FREEZES until all individual executed orders are displayed in the bottom of the bar. It display each of the individual executed orders of the 30k order and hangs its sorry a** all the time… LOL there have been times when the 30K orders are being taken out 1 order at a time by Algos like literally High-Speed counting starting from 1 and pi getting it’s excuse for hanging for a bit longer like 30s to even more than that… Imagine being stuck staring at the screen when pi is having one of these fits… (Also I am not talking about chiller stocks but high volume stocks which are well above the 20-30 Rs range like SAIL, Ashok Leyland etc etc.)
You might consider how orders are relayed back to the user of an placed order so that this freezing doesn’t happen, like displaying only a certain portion of that whole chunk of order, which have been executed or displaying it only when user try to modify or cancel an already placed, existing order.
Edit : @siva Might also want to note the problem with the Elder force index, which is inverse in Pi. (just for the next update, if its’ ever going to come)
90k concurrent logins across 200 clients (brokers), not one broker. So, as you’d imagine that is not much at all.
Pi again is not an in house platform, the guys who built it are not supporting it anymore. But since Pi is built using Kite APIs we can afford to keep it on for more time. I suggest you shift to Kite, there are clients who place much larger orders and one large order being executed in smaller trades doesn’t affect performance.
@nithin I know that as I have been ranting about the issues of pi since years earlier (when lot’s of useful things were removed).
I do use kite sometimes (when the freezing happens actually) but it doesn’t provide the smoothness/usability of opening multiple charts. The biggest drawback of kite is not being able to look at entire MW like say, All share of Nifty 50 at a glance or sort them just to hunt for possible stocks which have fallen/risen. In Pi for instance saving all F&O stocks in few MW, or All ETF’s in a single MW and similarly other custome MW’s and then finding what you want becomes a breeze, I couldn’t say the same thing for Kite as of Now. It’s just personal choice.
Pi is not inhouse built and uses way too old technology and charting libraries, we don’t get any support on charting library so we can’t do any changes.
We will look into this.
But NITHIN SIR…we as a trader always prefer trading software instead of web platform whenever we want to make or exit multiple positions in a short span of time…it is always easier to execute order from our side on trading software…and Sir…one humble request to u…please provide us at least one trading software in future…PI is not stable…NEST u withdrew…I had put all of my money 4 years back in ZERODHA …as I am not trusting any other discount broker…I am not denying the fact that KITE is best among other web-based platforms of other broker but Sir I have doubt that even your younger brother who is handling your prop desk is using KITE instead of any other trading software for managing his big positions in this kind of volatile market environment…and please plzzzz sir…don’t stop the support of NOW software( although it starts giving more problems these days comparatively to kite) in future as I have access to this in one of my older account …I will be in big trouble if u do this…I am using NOW in an older account for my active part of trading while KIte in newer account for my investments and medium time frame trading…Kindly check this and apology in advance for such a long reply @nithin @siva
We all know how that turns out.
Anyway a suggestion is you could create an entirely new page, which has these basket of shares labeled, index-wise/sector wise etc etc. And when users click on them, all shares are shown (As heat-map, as list, whatever) Also users should have various options like, to sort these stocks based on their price movements, Gainers/looser, volume etc etc. If you make this, it would be a lifesaver, not only for day traders but also for investors.
Currently one can do for above.
Dear Siva, there’s difference between able to sort entire predefined MW’s, across sectors etc etc and just a handful.
Years passed looking into this and many other issues but i am really amazed what and where you are looking at ? It is now a useless matter to discuss Pi or Nest or Kite coz what you will say is heard countless of times without any resolution and your same rheutorics.
What u will offer when Kite has issues at peak hrs ?? Any standby system to save traders? Your Kite update is coming for many many months, yet dont know when it will arrive, What issues it will address, what addons you will offer God knows. I hope it will be Satyug time again at its arrival
And even more surprised, 100_200 clients Nest is unable to handle and is unstable. Lol. What u all smoke ??