Why SpeedBot Is One Of The Best Algo Trading Application?


algo trading
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Introduction

With the emergence of modern technologies, practically every industry now relies on a piece of logical code to function: Algorithms. It utilizes user information, past trends, and a predetermined set of instructions to accomplish a set of objectives. While trading, investors actively employ Algorithms to eliminate human errors and maximize profit possibilities. Algorithmic Trading, or Algo Trading, is the name given to the process. The below article concerns the working and significant features of SpeedBot, the best Algo trading app in India. However, let’s understand what Algo trading is all about.

Algo Trading: What is it?

Algorithmic or Algo trading is a relatively new trading concept driven by technologies like machine learning and artificial intelligence. It appears to be capable of outperforming market fluctuations to generate potential good returns for investment funds.

The Algo trading technique involves trading decisions based on pre-set rules put into a computer. Traders using automated trading apps employ high-frequency trading technology. It allows for the automated purchase and sale of large volumes of equities. The procedure is carried out at a breakneck speed, with no human error.

Algorithm trading can improve your complicated trading life by taking on the burden of extensive fundamental and technical stock analysis. When using Algo trading apps, you must provide some specified inputs, and the Algorithm-driven apps will take care of the rest.

Positive Aspects of Algo Trading

Algo trading continuously analyses stock market trends and places orders only when certain circumstances are met. These parameters are price, volume, support, resistance, or any other element that the market participant is okay with.

  • Analysis of Past Market Trends

The major benefit of Algo-trading is that it can effectively and rapidly discover a continuing trend by utilizing existing data. Otherwise, it is difficult for traders to act quickly by analyzing a vast amount of data in a short amount of time. Furthermore, market participants can apply many strategies simultaneously and choose the strategy’s net outcome.

  • Smart and Emotionless Decisions

Because trades are confined to a set of established parameters, one of the major benefits of Algo trading is its ability to eliminate human emotion from the markets. Fear and greed are two emotions that contribute to poor judgments that Algo traders are immune to. It is advantageous since human trading is vulnerable to emotions leading to erroneous decisions. 

  • Back Testing

The capability to backtest is another advantage of Algo trading. Traders cannot run their trading systems on past data. So, it might be difficult for them to determine which aspects of the trading system will work and which won’t. Market participants can use Algo trading to run Algorithms on past data to see whether they worked. This feature is extremely useful. It allows the trader to eliminate defects in a trading system before running it live.

  • Speed
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Algorithmic trading benefits from scanning and operating on several indicators at a rate that no person could match. More chances are accessible at better pricing as trades can be analyzed and executed faster.

Factors Influencing the Selection of Algo Trading Apps

The following are some points to consider while selecting an Algo trading app.

  • Ability to Personalize — Most apps have predefined specifications to customize trading bots for stock market trading. Market participants who want to tailor such built-in features to their preferences can easily do so using the app.
  • Real-time data — One of the most fundamental requirements of the Algo trading app is real-time data. The app should provide a real-time data feed and quotes. Aside from that, obtaining an actual company feed should be possible to make swift decisions.
  • Time delay — Live feeds pass through multiple levels like the vendor’s data center before getting processed on the client’s screen. A time delay in getting a live feed from the stock market to the client, passing through these levels should be as short as feasible.

What Makes SpeedBot Better Than Other Algorithm Trading Platforms?

SpeedBot is a free automatic trading web and mobile application for everyone interested in algorithmic trading. When looking for automated trading apps, SpeedBot is the best algo trading app in India. Traders can analyze and execute their strategies on a single platform. Moreover, users can deploy a single trade bot in various broker accounts. It also gives the provision to configure numerous bots as per various strategies in accounts. It runs on secure and sophisticated cloud architecture and is accessible via web and mobile apps anywhere.

Create strategies using the bot marketplace

The Bot Marketplace is a repository of bots for planning trading strategies. Trade with bots and algorithms in the marketplace or hire bots from creators to partake in multi-million dollar profits. The marketplace provides the below options for choosing a trading bot as per an individual’s needs.

  • Subscribe – Individuals can keep track of the best-rated creator bots and replicate them to suit their market requirements. It is not necessary here to have any prior trading experience.
  • Hire – Traders can transform their trading bots into a profit source. SpeedBot gives the option to create a successful strategy, test it and make it live. Display trading statistics with other followers and rent bots to earn money.
  • Connect – SpeedBot connects bot creators with amateur and novice followers. Individuals hire trade bots from creators and auto trade in the creator’s absence. The creator receives a portion of the profits earned from the individual who hired the trading bot.
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No Code Bot builder

Individuals can use the No Code bot builder feature to build their strategy-based trading bot for automatic trading. There is no need for coding skills required for create the trade bots. SpeedBot provides the below options to create a custom bot as per an individual’s trading patterns and financial circumstances.

  • Create trading rules – Provide indexes or Scripps to create a trading rule. Save the rule for backtesting.
  • Backtest – The results of backtesting from SpeedBot accurately summarize the effectiveness and profitability of the trade rules created.
  • Improve the rules – Learn from the results of backtests. Make improvements to the rules and increase your profit margins.
  • Paper Test – Before deployment, the paper tests the new strategy and evaluates the bot’s market performance. Once satisfied with the results, individuals can deploy the bot privately or publicly in the marketplace.

Test Strategies

SpeedBot’s backtesting engine has access to a massive archive of historical data. It is used to verify the accuracy of trading methods utilized by the bot. It is the best mechanism to protect wealth in the stock market with the help of algo trading apps. Moreover, users have a better chance of succeeding in stock trading when they go live with their trading rules.

Individuals may use the backtesting engine to check the strategy’s validity before deploying them in the market. They get thorough backtest reports which aid in the analysis and the detection of any potential flaws.

Go Live with Trading Engine

The trading engine executes all trading activities instantly, which the bot performs in the live market. Moreover, users can get real-time notifications of transactions made depending on their trading conditions in the broker’s application. The custom strategies are integrated into the trading engine by SpeedBot.

In real scenarios, risk management is also taken into account. If the strategy fails to perform as planned after validation, the SpeedBot stops the bot based on the user’s risk tolerance.

Traders and investors can explore the website to understand more about SpeedBot.

How Does SpeedBot Work?

Traders can utilize bots to take advantage of the stock markets operating online 24 hours and seven days a week. Trading bots, or short trade bots, have an advantage over investors in reacting faster to market trends. Moreover, most investors do not have the time to seek out the best trade constantly. Hence, bots help to achieve the best trade options.

A trading bot can purchase and sell stocks automatically based on predefined parameters. Traders can configure the bot to execute trades depending on certain market trends. They can also use simulations and historical data to test the trading strategy with the bot.

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After registering with SpeedBot, the app displays a list of high-performing trade bots to which you can subscribe. Individuals can register themselves in SpeedBot for a free trial and start earning profits.

Browse the Bot MarketPlace

Evaluate the Algorithmic Bot Marketplace in the SpeedBot application. Experienced trading strategists have constructed several pre-configured trading and investment plan bots. The trade bots are divided into categories based on an individual’s investment style. Get a thorough report and compare the performance criteria of the trading bot. Prior trading knowledge isn’t necessary here.

SpeedBot application users can either subscribe to a trading bot or rent out their bots to other followers to make profits. When a bot makes money, the creator receives a portion of the benefit from the follower who hired the bot.

Evaluate backtest reports

An individual’s decision to subscribe to SpeedBot is quick and simple, with a short check at the intuitive backtest reports. Verify the accuracy of trading strategies with SpeedBot’s backtesting engine, having a repository of huge historical data. SpeedBot uses the historical data from previous years to help precisely test the bot’s present strategy’s accuracy. Based on the results, an individual can see how the strategy might have performed in different market scenarios.

Sit back and relax once you’ve subscribed to the bot and linked your broker account. SpeedBot will handle the rest. It uses the trading engine to efficiently run the trading bots and deploy them in live markets. On the broker’s app, users can get real-time notifications of transactions made depending on their predefined trading conditions.

Are you ready to launch your bot and make profits? Find the bot matching your needs, perform a test, and press the start button to begin automated algorithmic trading. Join SpeedBot today and get an edge against your peers in stock market trading.

Algorithms aren’t new to the Indian financial industry; they’re utilized mostly in virtual transaction platforms to assure trade transparency and a quality user experience. It also helps in the avoidance of lags and malfunctions. However, depositories and stockbrokers are not the only ones who use Algorithms. Algo-trading is the most rapidly expanding technology, with fantastic and sophisticated functions that help market players increase trade speed and performance. With the advancement of technology, traders may now perform Algo trading on their phones or tablets utilizing Algo trading apps.

SpeedBot is the best Algo trading app in India with a broad array of features. It provides you with a platform to earn considerable profits in the stock market. The best thing about the app? You don’t need to know and learn how to code to build your personalized bot! To try the automated and user-friendly app, visit SpeedBot today!


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