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Algorithmic trading, often called 'algo trading', involves using computer programs and algorithms to execute trades in financial markets. You define a set of rules within the program, and trades are automatically carried out when those conditions are met.
Yes, algo trading is legal in India and is regulated by the Securities and Exchange Board of India (SEBI). Retail investors can participate through platforms that comply with SEBI guidelines.
TheAlgoman supports integration with several major brokers in India. However, compatibility depends on the quality of the broker's API. Supported brokers include: 5Paisa (Open API), IIFL, Sharekhan, Zerodha, Kotak, Upstox, AliceBlue, Groww, Motilal Oswal, Nuvama, Tiqs, Finvasia, and Angel One.
No, you don't need to deploy the algos daily. However, you must log in to regenerate tokens each day to keep the algos running.
Yes, TheAlgoman allows you to manually exit trades. While the algos are automated, you retain full control and can intervene anytime based on market conditions or your trading goals.
The 'In Error' status could be due to several reasons like margin shortfall, token not generated, or an illiquid strike price.
Click on the 'Error' option in TheAlgoman dashboard, then select 'Manage'. You will see three options: 'Reattempt', 'Cancel', and 'Manually Taken'. For detailed guidance, refer to the video tutorials below.
Clients bear the cost of trading APIs from their respective brokers. These APIs are required for automating trading strategies.
Active Trading Account with API Access
Must have a trading account with one of our supported brokers (Zerodha, Angel One, Upstox, etc.) with API enabled.
Minimum Capital Requirements
Basic Trading Knowledge
Understand order types, margin rules, and basic risk management.
Stable Internet Connection
Essential for uninterrupted trading and order execution.
KYC Compliance
Ensure your broker account is KYC-verified.
Signed Algo Trading Agreement (if applicable)
Some brokers may require a signed consent letter for API-based trading.
Margin Availability
Sufficient margin is necessary to execute trades as per your selected algo.
Compatible Device or VPS (if needed)
For client-side algos, you'll need a PC/laptop or a VPS running during market hours. (Cloud-based algos don't need this.)
Risk Disclosure Acceptance
You must acknowledge that trading involves market risk and that past results don't guarantee future returns.
Enrollment with Our Algo Service
Complete the onboarding process to connect your account and get started.