So, me and my friend trade together. Since we are located at different places, we use communications like Whatsapp or Telegram to share the trades. Whatever trade I take, my friend follows the same.
e.g. I bought 50 Stocks of Infosys at 1140 with Target of 10 and SL to 5, I would take the trade and ping my friend -
INFY 50 1140 10 5 which is our pattern to understand the trades. This also helps saving time.
But, in volatile markets, we often need to revise SL or cut short the losses by exiting or book profits. These are the times when sharing the trades becomes a problem. Until I ping my friend and he reads it, the time is wasted. This leads to missed opportunities and losses.
I am seeking help with this scenario from Zerodha community. Can we get a new feature like Trade Sharing?
How will it work -
You add the user name of the user with whom you would like to share the trades. On performing any action, the user is notified.
What y’all think about it?
How would that be any faster then getting a notification on telegram/whatsapp? Your friend still has to execute those trades in his account manually.
Some major issues I face -
- Need to type everything
- Unavoidable Mistake
- Friend has to read, go to Kite and place the order.
- He needs to stay focused on both mobile phone and the trading terminal
I am not sure if there is a need to compare the speed of execution between both these ways. Notifications can be quicker than manually entering the trades. Isn’t automation better?
Are you expecting Zerodha Chat inside the kite ?
Yes. The way we get notifications the same way we can share notifications of trades. If you got better idea, feel free to share.
A chat room built into Kite would be a distraction. Here is an idea,
use TeamViewer or Ammyy Admin. This way he can see your trades in real time and copy them without having to wait for a notification.
How is using another tool/Software a better idea to reduce the latency? I am not a full time trader, I have other important confidential things going on at my desk which I can’t share. Sorry, but didn’t liked the suggestion.
That is the entire point behind the suggestion. He is accessing your screen in real time, where is the question of latency? If you have a reasonably good internet connection there should be no lag or at the very least it will be much faster than you typing out individual messages sending them and then him reading them in live chat or IM. My suggestion simply cut out all the middle work. As far as you not wanting to share your confidential things, its understandable but it wasn’t a prerequisite in your aforementioned question. Getting back to the question, the other thing you can do based on the availability of present resources is this. Since your friend copies your trades, I presume you are profitable so why not sign up for open trade, become a star and he follows you and thereby has seamless access to your trades.