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Kushal Jain

Kushal Jain   05 October 2021

Retail Algo Trading Scam Details

Mr Utsav is a guy with almost 0 IQ.

Here is an example :

Utsav Goes to a showroom to Buy Car without knowing how to drive and buys it, then obviously makes an accident and blames the Car company for that.

He then takes car from another company hoping this time he will drive safely (he still doesn't know to drive btw)

brings the car from showroom and same result.

Now He blames entire car manufacturing companies in India and makes them responsible for his accidents.

 

My question is in above example who is responsible ?/

 

Similarly If you are using a Algo product the job of that product is to automate your trades and it will automate a particular strategy - it can be loss making/profit making doesn't matter.

If you don't have a profitable strategy you will fail irrespective of what platform you use.

Algotrading is to help you automate trades but the logic of trades has to be feeded by you else you are the one fool who is responsible for losses not the system.

Algotrading is not ATM Machine where you will print money.

I Wonder if you are even 10th pass 

Such a basic concept is hard for you to understand ??

 Mr Utsav FD karlo 

Stock market aapke bas ki nahi hai



 29 Replies

Utsav Kapoor

Utsav Kapoor (Student)     28 July 2021

Attached some references I was not able to attach in original article.


Attached File : 3460124 20210728210137 references.zip downloaded: 69 times
Utsav Kapoor

Utsav Kapoor (Student)     29 July 2021

Attached another file which completes the set of references to this article.


Attached File : 3460124 20210729083305 email replies.zip downloaded: 41 times
Anil Rajeev

Anil Rajeev   29 July 2021

I am not trying to justify the algo platforms here. But can clearly see how people without any knowledge of FNO like you lost your money. Algo platforms are a way that you lost money. You should also write to SEBI and NSE to block FNO for retailers too then. Without these platforms also, lot of retailers have lost money. I have lost 50L+ just by directly trading in FNO. Its not the algo platforms mistake, its the ignorance that is the mistake and not knowing when to stop trading. 

2 Like
Anil Rajeev

Anil Rajeev   29 July 2021

Let me add that I have started making money by following a system via TT. As of now, recovered 10L, for which I am happy. 

CA-CWA RAVI

CA-CWA RAVI (CA-CWA in industry)     30 July 2021

I dont believe in this loss story above. And it seems more like an effort from big guns to defame TT as it is dealing with so many retail money.

Finally retailers were able to make money through systematic trading, and all off a sudden there is negativity all around.

I am using tradetron from September 20, and this is the period i have finally recovered past losses and turned the table with profits. 

On these platforms, I have a lot of strategies and creators to chose from. If i like to buy i can use buy strategies, while if i am comfortable using selling strategies, i can do that as well. I have whole control of my algos in my hand, from activating the API token before market opening to pausing or exiting a strategy as per mybown will.

I dont know why you are writing so big to be true 'loss' figures to defame TT. Because, i can give testimonial of hundreds of my traders friend, who are finally making money through sytematic trading using platforms like tradetron.

 

PS : I am almost 12 years old user here, and have no relation with TT whatsoever, except being an active small trader of its strategies. I just did not believe on your story and it is in its entirety, away from reality. If you had lost that much, it must be due to ur over trading or very poor money management. 

3 Like
Sitaram Panda

Sitaram Panda   30 July 2021

I am using Tradetron since January 2021 and I must say they have done a wonderful job for retailers to trade without emotion in a systematical way.

Each strategy in Tradetron clearly specifies risk involved , reward expected and the segment it is going to trade. Now it is upto the user to choose the strategy and to deploy in has own account. So I totally disagree to the statement when anyone say user is unaware what the computer program does in his account . Even though it does anything suspicious, user has full control to stop the algo . After all it is the users account which he he full control.

Coming to your story. I feel very pity that u lost huge money. At the same time i know it is always easy to blame others for failure instead of accepting own fault. You are a well qualified IT person. So you were pretty much comfortable in operating simple application like Tradetron. You spent 1.2 lakhs (hard to believe) for learning stock market, dint u understand what kind of trades are going on in ur own account? If u deny both the above arguments then I have nothing to say. 
Lastly i want to say all users , stock market is risky that everyone know. So do a calculative risk and trade  accordingly. If u dont do that you will keep on blaming others, sometime Tradetron, sometime advisor, sometime trainer. But at the end it u who lost money.

i hope this reply will help many other retail users.

2 Like
Qwerty

Qwerty (Other )     30 July 2021

Looks like another paid article. Mr. Utsav Kapoor has the time and brains to do so much of analysis on the market structure, laws surrounding the xyz, but did not have the brains to know that any FNO trade has risks that he has to bare. API solutions provided by brokers are very useful in developing many applications that benefit millions of users. About legal and illegal. The NSE is not a statutory body, it can only direct rules to its members. But there are many amazing people building amazing technology solutions that are in no way associated with brokers. If you had only spent all this time researching such companies before you would know that for every one company that you have listed here; there are 100 that offer solutions to users without any association or conflict of interest with brokers. The only scam I can see here is that you were robbed out of brains during the genetic distribution of resources.

 

you paint this story of sympathy and being an honest person, but in reality you come across as a crook. 

Qwerty

Qwerty (Other )     30 July 2021

Also, there are many api platforms that allow you to chose your broker. Many brokers now offer 0 brokerage. So this conflict business I do not understand. Why did you go with master trust when you could have gone with a more reputed name? 

Qwerty

Qwerty (Other )     30 July 2021

In your references you have not show even a single reply or email to the sebi or nse . Instead like a fool you show the moneylife article of Suchitra Dalal. Go on Twitter and see what people have said about her article. She has been gaslighting algos because she is being paid by big players who don’t want algos to be promoted. You think the public is a fool ? 
 

you have 20 lakhs to lose , could not pay 2000 to an investment advisor to advise you if the strategy or investment you were doing is apt for you ?

utasv bhai , aap ka yeah jhoot samne aagaya.. lagta hai aap yeaha scam kar rehe ho 

 

 

1 Like
Utsav Kapoor

Utsav Kapoor (Student)     30 July 2021

To all tradetron salesmen doing fake posts, registering on this website just to reply this thread:

Check my emails SEBI has been kept in Cc. SEBI already ordered enquiry in this matter. 

Utsav Kapoor

Utsav Kapoor (Student)     30 July 2021

Fake replies on my thread by salesmen busted https://ibb.co/VgdQnhG

Rajandran Rajarathinam

Rajandran Rajarathinam (Founder - Marketcalls/Co-Founder Algomojo)     30 July 2021

Hi 

This is Rajandran from Marketcalls/Algomojo and we are running various fintech and education platforms in India (Marketcalls, Algomojo, Febinars, OptionAction,TradeAction,Traderskart). Our primary job is to build better fintech applications and educate our customers on Systematic Trading, Concepts like Market Profile, and Orderflow. I personally myself a financial blogger blogging about markets, trading software trading tools, and automation since 2007 onwards in marketcalls. 

And I thank Mr Utsav kapoor for providing an opportunity to explain and justifying our reputations by his false allegations. We have a reputed audience, followers worldwide, and a reputed brand built over the years we only educate traders and do not advise traders. 


First of all, we don't run any courses worth 1.2 lakh that is a baseless allegation against us. And Also I check our customer database We don't have any client name under Utsav Kapoor. It is incredibly upsetting that false allegations are made against our brand to spoil the reputation that we build over the years. I doubt the credibility of Mr Utsav Kapoor as most of the comments made by him are baseless and concerning us to take strong legal actions. 

1)Algomojo is DIY (Do it on your own) trading platform for traders who want to do API-based trading using brokers API. It is the trader's responsibility to design/run trading strategies, manage risk and reward.
2)Algomojo only provides a platform to integrate various technical tools like Amibroker, Tradingview, Excel, Metatrader, Python, etc. It doesn't have any in-built strategies. Traders have to integrate their own trading strategies into the technical tools and run in their own trading environment.
3)Algomojo does not have any in-built strategies and Algomojo will not trade on behalf of traders. Algomojo provides end-to-end trading needs for the traders right from education, data feeds, servers which are mostly required by our customers to create their trading infrastructure.
4)Algomojo is no way associated with any of the brokers as sub-brokers. We act as digital referral partners to brokers and that is totally legal to do business.

I strongly recommend admin of the forum to verify such baseless accusations before allowing users to post any false claims.

Rajandran R
Marketcalls/Algomojo

Utsav Kapoor

Utsav Kapoor (Student)     30 July 2021

Thank you Mr. Rajandran for showing up. I hope you do not get me banned before replying me. I have 2 points:

1. About the courses - you are right I did not pay for single 1.2 lac course. But I did pay 1.2 lac in bundle of online courses for Amibroker, Tradezilla and Options. I have receipt of these courses. But if I have to show receipts I will rather do that in Legal Court rather than forum. Here in this thread I would rather stick to the matter of illegal retail algo trading.

2. About Algomojo- your website claims 6 partner brokers. Can you prove a single broker who REALLY has partnered with you? rather all these broker dissociate with you because you are doing illegal stuff. Zebu is claimed as partner broker on your website. Check the email folder response from my post above, how Zebu completely dissociated with you.

 

 

 

2 Like

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