- What is AutoTrader?
- Is AutoTrader Free?
- What are additional costs (Broker’s API, datafeed, charting software etc.)?
- What are the trading platforms supported by AutoTrader?
- Which analysis or charting software can connect to AutoTrader?
- Why there is limited support in Free Trail?
- Is algorithmic trading legal?
- What is the goal of AutoTrader & why is it better?
- What kind of live & historical data AutoTrader provides?
- How do I upgrade to latest version of AutoTrader?
- How does AutoTrader identify each stock uniquely?
- How to change Trading Platform in AutoTrader?
- Why AutoTrader new releases are delivered so frequently?
- How do email alerts work in AutoTrader?
- How to trade in multiple trading accounts using AutoTrader?
What is AutoTrader?
It is an automation tool which provides API functions which are broker independent. It also provides free live & historical data for all exchanges into AmiBroker.
- Users code their strategies in AmiBroker, MetaTrader, Excel or custom application
- These platform run the strategies, but orders must be placed in Trading Terminal (Upstox, Kite, NOW, NEST, ODIN)
- Hence they use AutoTrader provided API functions for communicating with their Trading Platform
Is AutoTrader Free?
Yes, but for first 15 days only. Thereafter clients need to obtain a paid license, please see pricing section on this link.
What are additional costs (Broker’s API, datafeed, charting software etc.)?
- Datafeed: You can use AutoTrader provided datafeed which doesn’t have any additional cost. You can use datafeed from any other vendor as well & the costs depend on the vendor.
- AmiBroker/MetaTrader: Free trials of both these software are sufficient for Automated Trading. Free trails of these software come with no Expiry date.
- Broker’s API: AutoTrader does NOT use APIs from any broker, so you DO NOT need them.
In simple terms, there are no additional costs except AutoTrader license.
What are the trading platforms supported by AutoTrader?
There are mainly 3 types of trading platforms supported by stock brokers:
- Web (browser) based trading platforms (Trading through browser)
- Desktop based trading platforms (Trading via an application installed on your computer)
- Mobile based (Trading via mobile application)
At the time of writting, AutoTrader supports web based and desktop based trading terminals. Our focus is on adding more and more support for web based trading platforms, as they are ideal for automated trading. Here is a list of supported platfroms:
|Zerodha Kite||Web||Zerodha||Supports automated trading (place/modify/cancel orders & reading live portfolio), bulk orders & real time data|
|Upstox||Web||Upstox||Supports automated trading (place/modify/cancel orders & reading live portfolio), bulk orders & real time data|
|AliceBlue Ant||Web||AliceBlue||Supports automated trading (place/modify/cancel orders & reading live portfolio) & bulk orders|
|Scalpert||Web||Finvasia||Work in progress (May-2020)|
|Work in progress (Jun-2020)|
|NOW||Desktop||Any broker||Supports automated trading (only order placement), bulk orders, multiple clients|
|NEST||Desktop||Any broker||Supports automated trading (only order placement), bulk orders, multiple clients|
|ODIN||Desktop||Any broker||Supports automated trading (only order placement), bulk orders, multiple clients|
Which analysis or charting software can connect to AutoTrader?
AutoTrader does not run strategies by it’s own. So you need some software that can run your strategy. Here are some of the examples:
- Charting software (AmiBroker, MetaTrader, NinjaTrader etc.)
- Microsoft Excel or Access (Using macros VBA)
- Any custom made software
To facilitate easy integration, AutoTrader provides built-in support for AmiBroker, MetaTrader & Excel. What it means is that you get a set of functions for automated trading, which you can directly use in your strategy code.
For any other software, your can communicate with AutoTrader using files; more information can be found on here.
Why there is limited support in Free Trail?
The simple reason is cost. We have tried to keep the cost of AutoTrader to absolute minimum for retail traders. As a result, we cannot afford more resources on support for free trial members. Support is taken care by professional developers & algorithmic traders.
Is algorithmic trading legal?
Legality of Automated or Algorithmic Trading in India is a gray area. The most relevant legal document we could find is here.
Algorithmic trading can be risky, if your algorithmic setup has bugs. The primary reason for having restrictions on algorithmic trading is the lack of knowledge among retail clients about the risks involved in this area. Having said that, looking at the amount that most retail traders trade with; the possibility of their algorithm affecting the market is small. The discussion of the risks are beyond the scope of this article.
AutoTrader is an automation tool which is built to reduce data entry work for retail clients & give them an edge in the ever growing algorithmic trading market. Many retail clients use different types software for automation.
AutoTrader supports both modes semi & fully automated trading. Users can use any mode of their choice. It is the responsibility of the users to get necessary approvals automated trading.
What is the goal of AutoTrader & why is it better?
The goal is simple, give retail traders an advantage by providing automation with minimum cost. AutoTrader package comes with (automation + live prices); you can compare the cost of these packages with other vendors.
If you use AutoTrader, then you become broker independent. It means switching broker is as simple as changing a setting. But if you use broker’s API, then changing a broker means changing all of your strategy code to use APIs from a new broker.
The live & historical data provided by AutoTrader is from your trading terminal; so you can rely on it.
Average time it takes to place an order on web platforms like (Upstox & Kite) is 0.2 seconds.
Very easy to integrate with any charting software, due to it’s csv file based communication.
What kind of live & historical data AutoTrader provides?
AutoTrader simply pulls the data from your trading terminal (Kite, Upstox) & transfers it to AmiBroker.
- Data is available for all instruments on all exchanges (including stocks, indices, futures & options etc.)
- Data includes price, volume & open interest
- Users are restricted to a maximum of 50 symbols
- This feature works similar to the “Export Market Watch to Excel” option available on trading platforms like NOW, NEST & ODIN
- AutoTrader only gives 1-month historical data, but it saves data on your local computer; so over a period of time you would end up collecting data
- This is a free feature & might be stopped at any point
How do I upgrade to latest version of AutoTrader?
- If you are using AmiBroker, then take a backup of your AFLs
- Download the latest setup from our website & run it as administrator
How does AutoTrader identify each stock uniquely?
For most web based trading platforms (KITE & UPSTOX), AutoTrader needs Exchange & Symbol to identify a stock uniquely. Older desktop based platforms like (NOW, NEST & ODIN) require you to pass all parameters (Exchange, Instrument, Symbol, Option Type, Strike Price & Expiry).
How to change Trading Platform in AutoTrader?
To change trading platform, please follow the steps given below:
- Go to AutoTrader Menu (Settings -> AutoTrader)
- Click the “Trading Platform” button
- Change following settings as applicable
- DEFAULT_CLIENT_ID (Enter client/login id of new trading platform)
- LOGIN_PASSWORD (Login password for Upstox & AliceBlue only)
- LOGIN_2FA_ANSWER (Login password for Upstox & AliceBlue only)
- PLATFORM_NAME (Your desired trading platform)
- Save settings
- AutoTrader will automatically download instruments for web based trading platforms. Wait for instrument download to complete (check dashboard), it takes about 1 minute.
- Restart AutoTrader
Why AutoTrader new releases are delivered so frequently?
The reasons for these are as follow:
- It indicates that AutoTrader is in active development. Any issues/bugs are fixed as soon as possible.
- We continuously keep working on new features.
- AutoTrader deals with multiple systems (Browser, Excel, AmiBroker, MetaTrader) & multiple trading platforms (KITE, UPSTOX, NOW, NEST, ODIN). These software are developed by their respective firms and they are updated from time to time. As a result, we also need to update AutoTrader to make sure it is compatible with latest versions of these software.
How do email alerts work in AutoTrader?
AutoTrader sends email alerts to your email account configured in settings. An email is sent when AutoTrader encounters an error. We are working on improving this feature, but currently there are following limitations:
- No error mail is sent, if it happens between midnight to 9 am
- Max email limit for a single AutoTrader instance is 10 mails per day
How to trade in multiple trading accounts using AutoTrader?
AutoTrader does support trading across multiple client accounts, but the features are limited. Users can only place automatic orders as of now, but they cannot read portfolio status. Many users request us this feature and we are working hard towards making it available with our new product AutoTrader Web. But as of now, you have following options available:
- Most trading platforms that are available for retail traders are single user platforms. Hence to trade in multiple accounts, you need multiple machines with separate installation of AutoTrader.
- Another way to trade in multiple accounts is using a (NOW/NEST) dealer terminal. A dealer terminal supports multiple accounts, but you would need get a dealer terminal from your broker and need to map all clients under your dealer id. AutoTrader supports multi-accounts trading using this approach.
If you are someone who is looking to do multi-broker and multi-accounts automated trading, we recommend you to wait for our new product. The initial release is expected in June 2020.