Zerodha is India’s leading discount stock broker. The company was founded in the year 2010 and since then it has been growing consistently. The company has its headquarters located in Bangalore and has a physical presence in the major parts of India.
Zerodha provides services that include Equity and Derivatives trading, Currency and Commodity trading, Mutual Funds, Bonds and Government Bonds. The company has launched a new feature on its trading platform in order to make its services easy for the traders. Let’s look at the new feature launched by Zerodha.
Zerodha – Latest News
Announcement by Zerodha
Reason for launching the new Feature - Nudge
Uses of the new Feature - Nudge
How to use the new feature - Nudge
FAQ
Zerodha – Latest News
Zerodha has launched a new feature on their trading platform which will help the traders to learn from their mistakes. The new feature launched by the Zerodha will help traders to maintain a journal through the platform.
The feature is known as the Nudge feature, this would help the traders to tag their trades to use it as a journal and to track their investing goals.
Announcement by Zerodha
The company conveyed in a statement saying that the company had launched Nudge as a first step and now they were excited to announce a new Nudge on their console on the portfolio and trade tagging which can be used by the traders as a trading journal and track their investing goals.
Nithin Kamath who is the CEO of Zerodha had conveyed through a tweet that the company is excited about the new feature available on the console and he added that tagging the trades and maintaining an investment journal would help you become a better trader and will also help in tracking the investment goals.
Alan Joseph
Reason for launching the new Feature - Nudge
Nithin Kamath had conveyed that the new feature would help the traders to learn from their mistakes and he added that one cannot become a better trader if they don’t learn from their mistakes. An ideal way any successful trader uses to learn from his mistakes is by maintaining a journal that would have a track of all the trades taken and the reason behind taking the trades.
The journal will help the traders to look back and review the reason for the trade being taken and even reflect and analyze on the trading methods which are working and which are not working.
Uses of the new Feature - Nudge
The new feature is majorly used for creating a journal in order to make better trades and to become a successful trader. The tags can be used to track and create retirement goals or your trading goals. He added that the console will help the traders to tag the trades once they have taken, while they may postpone it.
Alan Joseph
How to use the new feature - Nudge
Zerodha conveyed that, if a trader has to tag a trade or maintain a journal then they will have to do it manually for tracking a trade or to track the profitability. It is considered to be difficult and which is one of the major reasons why most of the traders don’t follow it.
- In order to tag, the trader will have to go to the P&L report on their Zerodha console.
- You will have to select any security that you have taken a trade and click the context menu on the P&L console, then select view breakdown/tags.
- On the P&L breakdown window, you will have to click on apply or create a tag.
- Now you can enter the tag’s name and enter a description of the tag which you would want to create and then save.
- There is a restriction on the number of characters on the tags to 15 as this will be used to display the purposes in multiple places. The tags can be applied to all the trades taken or you can apply them separately for each breakdown.
- You can use the tag manager in order to track the best and worst-performing tags and also use the filter in order to analyze the P&L to view the profitability of your tags.
- In order to add goals one can, visit the holdings page on the console and click on the context menu and select view breakdown or tags. It is similar to tags in P&L, you can either apply it entirely or apply it separately according to your choice.
Conclusion
If a trader has to tag a trade or maintain a journal then they will have to do it manually for tracking a trade or to track the profitability. It is considered to be difficult and which is one of the major reasons why most of the traders don’t follow it. Zerodha’s new feature is focusing again on making the concept of trading much more easier and convenient for the traders.
FAQ
Who is the CEO of Zerodha?
Nithin Kamath is the founder and CEO of Zerodha.
When was Zerodha founded?
Zerodha was founded in 2010 by Nithin Kamath.
What is nudge in Zerodha?
The new feature added by Zerodha on Console and portfolio which can be used by traders for trade tagging and to track investing goals.
Author: Alan Joseph
Source : https://startuptalky.com/zerodha-nudge-feature-explained/
Date : 2021-06-07T12:26:53.000Z