SEBI allowed Algo trading in 2008 to automate the buying and selling process in the stock market. At that time, the technology was not so advanced, and many traders used it to execute their strategies. But now, many investors and traders have started understanding the importance of using algo trading for their stock market investment decisions. Tradetron is one of the advanced applications that allow traders to do algo trading and help them save losses that occur because of emotional decisions.
However, some investors in the stock market in India still rely on their experience and knowledge. But none can ignore the power and advantages of using algo trading marketplaces like Tradetron. So, read this Tradetron review to understand its features and how it can benefit you as an investor in the stock market.
Why Algo Trading?
Using algo trading has distinct advantages for the traders. Here the trader creates the logic and applies it to the computer to execute the trading activity. Based on a logical program, computer applications execute trading using the signals. Logical applications are not affected by the amount of profit or loss. A trader can set up the amount of trading value to automate other processes. This system-generated trading can make the trader profitable in the long run. Also, here, the emotions of traders do not affect buying or selling of stocks. Algo trading can be a great strategy to minimise trade losses.
What is Tradetron?
Tradetron is one of the most acceptable algorithm trading applications. Retail traders widely use it to automate trading. Even if you are a novice, it’s easy to use this application and run various strategies. This application does not require knowing Python or any programming language. It consumes less time to engage in automated trading in the stock market. The auto-generated signals can operate by buying or selling or stop loss execution in various trading scenarios.
Tradetron has many brokers that already have big names and reach in the market. You can find Zerodha, Fyers, Upstox and many other brokers building on open architecture. You can find the list of all the brokers partnered with this application.
2. Strategy Developer
Being a strategy developer and trader, you do not need to know complicated programming languages, which is one of the biggest advantages of using the Tradetron application. You can fire orders based on the available parameters like RSI and Bollinger Bands. When you feel happy with the strategy you create, you can list it in the marketplace for traders to subscribe to. You can even manage the billing cylinder of traders.
You might always search for new strategies to make more profits if you are a trader. Tradetron app is a great platform for you because it helps you connect with others in the same field and subscribe to the strategies of experts. You can subscribe to the strategies based on exchange, instrument, and other filters. It also gives the option to subscribe to strategies before you go live.
Before using any algo marketplace, it’s essential to know its features. It helps you understand USP and other advantages you can get. So, look at the below-mentioned features of the Tradetron application.
1. Handy Strategy Builder
In the Tradition application, you can configure the strategies without being an expert in coding. It is a simple strategy builder that can help you create multiple sets with your entry and exit conditions. Not only this, you can set strategy rules on a single instrument to a basket of instruments.
2. Simple Backtesting
When you are done with the strategy-building process, you can also run effortless backtesting. It’s a very simple process if you use the Tradetron app as it has a button from the strategy page. It can also offer a detailed report to analyse the implemented strategy.
3. Subscribe Strategies of Top Traders
By subscribing to the top trader’s strategy, you can execute the same strategy for yourself. In short, you have a feature to copy the top traders to get the most return from the investment. It also enables you to check their historical performance. When you implement their strategy for your trading, you get the option to check the performance report.
How to Create an Account in Tradetron
We have discussed the traders’ features and environment of the Tradetron algo platform. You might also be willing to understand how to create an account on the Tradetron application, so look at the below-mentioned process for further understanding.
1. Start with Creating a New Account
You might be listening to the Tradetron app and do not have an account on it. So, visit its official website and click on the signup button. It asks you to fill in basic details like email, and you can fill it in too. It also allows you to create an account using Facebook and Google.
2. Get Subscription
Tradetron app has many subscription options under the pricing segment. You can choose any plan based on your trading requirements. When you choose the plan to subscribe to, it asks you to pay the amount and move further steps. If you are a regular trader, a Retail plan is ideal as it can save you some money.
3. Add Broker
Now the next step is to add your broker by clicking on the user name and then clicking on “Brokers and Exchanges”. When this page opens, click “Add Broker” and add the required details.
4. Create or Copy a Strategy
With this step, you can create your strategy to automate the trading. You can select Strategies > Create from the top menu bar. It will ask you to enter the basic details and entry and exit conditions. If you do not feel confident, you can copy a strategy of a top trader and implement it for you.
5. Deploy Strategy
When you are done with all the steps mentioned above, the next step is to deploy your strategy. It makes your strategy live to make a profit (loss) and get further insights. Below are three key terms you must know about while making your strategy live.
Multiplier refers to the position size; the default size stays between 1x, and it’s the minimum position you can use.
5.2. Execution Type
It’s the next term you must be familiar with; it has four options-Live Auto, Live Auto-One Click, Live Offline, and Paper Trading.
When you deploy your strategy, you will find the list of brokers available on Tradetron. You can select the ideal one to execute the strategy; here, you will find “TT Paper Trading” as the default broker. Once you make your strategy live, you are ready to verify your trade and see a performance during market hours.
Tradetron app pricing may vary from user to user and country to country. In India, it starts at Rs 1,000 per month for a retail subscription and ranges up to Rs 15,000 per month. However, for the US Market, it has subscription pricing ranging from $50 to $475 per month.
You can also avail free accounts, which allows you to execute paper trading and create a single private strategy. Hence, you will find many challenges in operating your algo trading to maximise the returns. Therefore, starting with a retail plan to automate your trading is a good idea. The retail plus plan is good for those traders who require continuous condition checking.
How is Tradetron Different?
In the market, you can find many algo trading marketplaces to automate the stock trading process. However, the Tradetron app is slightly different from the application mentioned below.
- This application is a cloud-native platform and does not require installation on your device.
- It delivers seamless connectivity to many brokers such as Upstox and Zerodha and does not require writing code to run algo trading.
- With this platform, you can create a strategy, backtest, and automate execution. And there is a very limited platform that offers all three features to its customers.
- You can also subscribe to the strategies of top traders on this platform. It’s a win-win situation for strategy makers and traders.
- Using this algo trading marketplace, you can execute trading activities in US and Indian stock markets. It has multiple instruments available to execute trading like currencies and multiple instruments with exchanges.
We have already discussed a lot more about this algo trading platform; let’s also discuss some of the remaining advantages of using the Tradetron application.
- It’s a beginner-friendly algo platform to execute trading without any coding knowledge.
- Tradetron algo has most brokers like Zerodha, Upstox, and Fyers.
- You can create your strategies and can even copy others.
- This platform is extremely user-friendly and works smoothly without any problem.
We discussed some key advantages of using Tradetron. Still, the Tradetron app has some disadvantages for the users who use it. Let’s discuss some cons of using this algo trading platform.
- A free subscription gets very limited features for a productive result.
- The platform may look beginner friendly, but still, its features are for paid users.
- The company has no free trial provision to get traders’ confidence.
- You will have to pay a monthly fee to discount brokers like Zerodha.
- The mobile app has a lot of bugs and needs improvements. The android app has only 2.7 rating on the play store.
Algo trading is getting popular daily and attracting the eyeballs of most traders. Traders can get better results by using the logical thing and without being emotional at the trade. Today, we discussed one of the most acceptable algo trading applications, Tradetron. It is the application that offers most brokers like Upstox the ability to execute trading in a hassle-free way.