Why we don’t recommend automation in NOW, NEST & ODIN?

All of these platforms are desktop based trading platforms. Our product does automation on these products is via sending keystrokes. It has many limitations:

  • The platform windows needs to be in front for better reliability
  • The order placement time is around 5-6 seconds (compared to 0.2 seconds with web platforms)
  • If a user presses any key during order entry then order entry might to fail
  • Overall the reliability is not great in comparison to web based trading platforms
  • ODIN in particular requires customized setup in some cases

Hence, we only recommend it to be used in cases wherein people want to place bulk order. Or those who understand how it works & are expert enough to operate it.

Note: Some of these products provide their own APIs, it is strongly recommended to use them (if they are available to you).

How to transfer AutoTrader license?

AutoTrader license is attached to each computer that it is installed on. Every machine gets a unique license id. If you are a own a paid license and want to transfer the license to another computer, then please follow the process given below:

  1. Install AutoTrader on your new computer
  2. Send a mail to our support team with following details:
    1. License ids of AutoTrader installation on both machines (from & to)
    2. Reason for license transfer

Our team will evaluate your request and perform the transfer. Please note that license transfer requests are rare and must possess a valid reason.

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 platforms:

Trading PlatformSupported onBrokerComments
Zerodha KiteAutoTrader WebZerodha
Supports automated trading (place/modify/cancel orders & reading live portfolio), bulk orders & real time data
UpstoxAutoTrader WebUpstoxSupports automated trading (place/modify/cancel orders & reading live portfolio), bulk orders & real time data
AliceBlue AntAutoTrader WebAliceBlueSupports automated trading (place/modify/cancel orders & reading live portfolio) & bulk orders
ShoonyaAutoTrader WebFinvasiaSupports automated trading (place/modify/cancel orders & reading live portfolio) & bulk orders
Smart APIAutoTrader WebAngel BrokingSupports automated trading (place/modify/cancel orders & reading live portfolio) & bulk orders
FyersAutoTrader WebFyersSupports automated trading (place/modify/cancel orders & reading live portfolio) & bulk orders
NOWAutoTrader (Old)Any brokerSupports automated trading (only order placement), bulk orders, multiple clients
NESTAutoTrader (Old)Any brokerSupports automated trading (only order placement), bulk orders, multiple clients
ODINAutoTrader (Old)Any brokerSupports automated trading (only order placement), bulk orders
What are additional costs?
  • 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.

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 requested us this feature and we have built a completely new product AutoTrader Web, which is a perfect product for multi-account trading.

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.

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.