Algo Trading is a type of trading where you will have no manual interaction. You create a strategy and then deploy it in your broker and thus it will automatically trade without your manual intervention. People who don't have much time uses the Algo Trading and thus it is mostly helpful for them.
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The only point is having a good strategy in hand and thus it should have been nicely backtested so that you know what to expect in the live market. I have seen a lot of strategy not performing well in the live market but have done very well in the backtests. This is because when we create a startegy or chart, we basically factored the past data. The future data might not be same as that of past data and thus the startegy which might have worked in the past might not work in the future.
And that's why a lot of startegy fail the algo result or give a very bad result. For me, I am thinking of creating my ETF startgy with the algo and see how it goes.
Since it doesn't require a frequent buy and sell, and it should always sell in the profit, I feel it is a good stratgey to start with and try how the startgy works. A lot of people are selling the courses on the algo Trading as well as a lot of platform came up with the feature.
Like Streak is a platform which allows you to test your stratgey and then deploy it so that you can use it. The good thing is that if you have account in Zerodha then Streak is free for you. And similarly there are other platforms too which helps you to run your algo and trade.
