0 TOP 10 ALGO ROBO ALGORITHMIC TRADING SOFTWARE IN INDIA

 

 A trader can indulge in fully automated trading or full manual trading through RoboTrade. It can be visualized as a “ Robot” which is trading on your behalf

 

Introduction

These days auto trading has become prominent with traders. Because of its benefits, several have come up with software for unique Algo trading in India. Though many are accessible, we need to grab the precise software for usage. As we all understand, products available in the market do not constantly meet critical standards. We need to evaluate them correctly and choose the correct one. Thus this blog is concentrated to enable those who are browsing for the Top 10 Auto Trading software for 2021.

 

We will examine the advantages of the top 10 Algo trading software in India. After going through this blog, the trader may be able to choose the right software. Before we plunge into the blog topic, it is crucial to understand that algo trading has its innate demerit. The most significant one is the technological glitches. The algorithmic logic operates on data input.

 And data comes from a third party that is not part of the software. Therefore any gap or stoppage from input data can make the software operate haphazardly. Thus the algo logic does not function appropriately during those times. That may result in incorrect trade and resultant losses. But the technological barriers occur very rarely. Contrarily, algorithmic provides you some trading benefits. The primary benefit is, traders can keep their emotions while making financial decisions out from trading.

 

SOFTWARE FOR ALGO TRADING IN NSE

As we have already defined algo Algoing is software-based automatic trading. The trading is performed automatically as and when trading signals develop in the algorithm. It sometimes executes making thousands of trades in milliseconds performed by the computers as per given situations.

 

The algorithm operates as per some preset conditions. Thus it is significant to set the algorithm. Technical estimation, data inquiry, or event-based conditions drives the precondition set up. Thus, these preconditions develop Entry or Exit trading signals. Accordingly, these signals automate the trades. This automated trading can be positional or intraday-based or can be the high-frequency stock trades.

 

Some trading software for algo is accessible in the stock market. They demonstrate real-time NSE and MCX data for algo trading. This enables investors to make trading more successful. Thus we can say that developing software for automatic trading with the help of the algo trading procedure. This can be assessed as the initial step of algo trades.

 

HOW NSE HELPS TO ACCOMMODATE AUTOMATED TRADING SOFTWARE

·         As we have already understood algo software commences the initial step of Algo trading. But there are different areas where NSE actively promotes algo trading with third-party algo software dealers. NSE promotes algo trading through the following steps.

 

·         NSE supplies all essential data to the traders and algo vendors to accommodate algo trading. Furthermore, NSE also supplies the highly assessed database on demand.

·         NSE supplies reasonable database research in packages as per needs. Accordingly, traders and algo researchers get the best trading suggestions.

·         Moreover, NSE helps to develop the algorithm skillfully. As an outcome, traders can deploy strategies without going into depth of step-by-step programming involved in making the software.

·         Here NSE plays a critical role. NSE supplies all the essential historical data for backtesting. Without backtesting, drawdown and different factors cannot be comprehended. Backtesting enables the trader to appreciate the efficiency of the algorithm. After that, the ago trading software is made available for live trading on the stock exchange platform.

·         NSE supplies streaming live data which enables automated trading throughout the operational hours of stock exchanges.

 

Top 10 Algo Trading Software

Here we have named the top 10 leading also software and algo trading platforms. Also, in India, There are few customized software and there are few platforms that enable automated trading in India. Therefore we have taken all around perspective while discussing this. Because there is an independent software and there are trading platforms that assist them. Thus we have illustrated them in a basket form. So, take your pick from the list.

 

Top Algo Trading Platforms in India

As already spoken of above, we have picked the following top 10 for the readers’ comfort. A trader can select any of these to match their requirement. But to utilize them you have to subscribe to the broking platform. Not all brokers enable Algo trading yet. Moreover, not all algo software is implied for all platforms. Therefore you need to pick your broker and the software meticulously. Moreover, you may have to dish out some additional expenditures for automatic trading. All these depend on the platform and the software dealers. Here we are going to explain to you the advantages also of these software and trading platforms.

 

1) Zerodha Streak

Streak is only built for Zerodha subscribers. Hence you must have to be a Zerodha subscriber to trade with Streak algo. Streak is bound with a Zerodha trading platform named Kite. Kite has both iOS and Android  App versions. Furthermore, there is a Zerodha software named Pi. Streak works effectively with all of them. You need to log in to Streak with Zerodha credentials details

 

 

2) Zerodha AlgoZ

This is another algo trading platform linked with Zerodha. It is quite an old algo trading platform. Started in as early as 2013, AlgoZ help you in Algo trading. Moreover, it encourages automatic backtesting too. It has many desirable features but not all are free. You have to shed some amount to use it.  It is probably the early software for algo trading for Indian traders at BSE.

 

 

3) AlgoTraders

It is another software for algo trading. Since its beginning in 2009, AlgoTraders has been very prominent. It is an open-source technology-based Algo trading software. The new latest version launched is of " AlgoTraders 4.0".

 

  4)    RoboTrade

It is a comparatively new trading software in the Indian stock market. It has some powerful characteristics.

v    Robo Trader

·         It is a plug-in software. Many characteristics of it make it very prominent. These features are listed below.

·         It can regulate numerous scrips at one time.

·         The function of software can be assessed on a real-time basis. A trader can observe whether real-time automation is operating suitably. If not satisfied, the trader can shut the trade manually.

·         A trader can moreover book partial profits here.

·         There is a facility for setting many stop losses at a single time.

·         Can use all stock charting and share price mailing facilities.

·         Reverse trading is moreover possible here. For instance, executing a trade order sell order when a purchase signal generates.

·         One can set up a numerous order generation when the buy/the sell signal emerges in the index.

·         A trader can set a time limit for order execution as to what to buy and what to sell through this software.

·         Moreover, a trader can set up his customary profit/ loss limit.

·         Quant trading techniques are one of the major aspects of this software.

·         One can trade immediately from the scanner itself.

·         Sub-brokers can utilize the facility of utilizing multi-user plug-in.

·         It enables the usage of the cloud (virtual machine).

·         Robotrader also enables the execution of orders from excel sheets.

 

5) TradeTron Tech

It is a new entrant in its category of also trading software. Tradetron is no software but an Algo trading marketplace. You can discover various Algo trading strategies/advice/tips here. As it is an algo marketplace, ago trading experts, stockbrokers come here and sell their techniques on this platform. Tradetron Tech has numerous strategies of its own. These strategies include the following :

 

·         Algo strategies based on technological analysis.

·         Algo strategies based on basic analysis.

·         Quant-based Algo trading strategies.

·         Event-based also trading software.

·         Expiry-based Algo trading tips that comprise hedging strategies.

·         Highly Customized strategies.

·         Extraordinary third-party strategies by various web developers.

Many brokers are supporting TradeTron algos software. Some brokers charge some amount for their APIs like Zerodha. And some brokers enable their APIs free of cost, like AliceBlue. Tradetron Tech is not a free course. The free version enables the usage of only 1 algo strategy only. But backtesting is made free. A subscriber can create his/ her strategy without understanding even a little bit of programming/coding or web development

6) Omnesys Nest

It is another critical and prominent name in the software for the algo trading basket. Omnesys Nest is a premium Algo trading software. It enables the execution of strategies like basket trading, order slicing, option hedge strategies that comprise 2l and 3l spreads. Omnesys trade in numerous exchanges like BSE, NSE, CDSL & MCX. Onesies Nest is an efficient, flexible, and highly adaptable Algo trading platform.

 

7) ODIN

This is similarly another prominent software, Financial Technologies firm developed it. The third-party API integration is very sharp on this platform. It is a multi-segment Algo trading platform. ODIN is well-known for its risk management and order management abilities.

 

8) Metatrader

This multi-segment multi-asset Algo trading platform has numerous potent features. It has a very well-known technical analysis tool entrenched in the system. Metatrader utilizes trading robots in its automated trading system. Metatrader facilitates cross-segment Algo trading opening up various opportunities in algo trading. It is an all-in-one extraordinary  Algo trading platform.

9) Ergonomics

"NSEIT"  developed this software in early 2015. It is also an Algo trading platform. It facilitates comprehensive monitoring. Moreover, Ergonomics is an Algo trading platform with low latency in trade execution and trade orders.  Moreover, the system control mechanism is very powerful as well.

 

10) Tradetron

It is a fairly new but outstanding automated trading platform in India. It is an all-in-one tool where you can develop your algorithmic system, backtest it, and eventually deploy it live on the trading floor.  It is entirely cloud-based software that doesn’t need you to install anything. Moreover, you would not require any exceptional coding skills to create a strategy in Tradetron, it’s inbuilt strategy builder will do the task for you in just a few clicks. In case you want to re-use your current strategy written in the language of Java,  Python, etc, that is moreover possible with API integrations.

 

The biggest part about Tradition is its strategy marketplace where you can sell your algo strategies to various investors or you can purchase someone else’s strategies. All the strategies documented in this marketplace can be assessed based on various parameters like CAGR, drawdown, Sharpe ratio, etc. The strategies are assessed based on both backtesting and forward testing procedures.

·      FAQs

·      What is algo trading?

·         Algo means algorithm. Here trading in the stock market is done by automatic trading software utilizing a trading algorithm.

 

·      What is the use of software for algo trading? 

·         With the rising popularity, many have begun developing new algorithms. These are identical to but they cannot operate independently, they require data input and interface. These are crucial for algo trading software.

 

·        What programming languages are utilized to write algorithms?

·         There are few programming languages like Python, C++ ,Matlab, AFL,MQL,Java,Perl, and other related languages. Out of these Python is the extensively popular language for algo software creators. Thus we find the usage of Python more and more in such software.

 

·       How does the algo trading software help us during live trading?

·         Algo trading allows stock traders to automate their trades. Therefore Algo trading software is attaining more popularity more and more.

 

·       Can I do high-frequency trading with the assistance of algo software?

·         Yes, the favorable kind of algorithm can provide you a suitable platform for high-frequency trading. Thus you must select the right algo that matches your trading needs.

·      Can I use any algo?

·         Not all algos are meant fore very stock market trader. Thus you must select the right type of algo that matches your requirement suitably.

 

·        So, how do I understand which algo suits me?

·         As algo trading software automates your trades, you must select what type of trading suits you best. Then decide the right algo trading software for you.

 

Conclusion

Algo trading is a new concept in India. Thus all the platforms are not yet utilized in the new system of automated trading. Many brokers do not even use it now because of their doubts and fears.  Moreover, the technological aspect requires improvement. Hardware like high-speed processors, high-capacity RAM, fast internet connection, uninterrupted real-time data input, etc. is a critical portion of the backup system for algo traders. Thus a trader must confirm that all these elements are well in place.

Also, one can not perform automatic trading in the hand of machines or AI-enabled machines yet. Monitoring is essential. And whenever the need emerges, manual interception is a must. Otherwise, data mismatch or technical complications can boost your trading losses in no time. At the end of the blog, I should say a do thorough research about algo trading since it will do you no harm. To master  Algo trading that matches  you best, you must do a lot  research .