Comment on page
The essential section for effectively managing your trading strategies, presented by Algomojo, is the My Strategies section. To enable Algo Trading, begin with this section and follow the outlined process for efficient strategy management.
"In the above image we give a detailed explanation of Mystrategies screen.
'My Strategies (34)' represents a collection of '34' strategies created and managed by the user. It serves as an organized repository of your trading and business strategies, providing easy access to view and manage each one.
Search: The "Search" feature allows you to search and filter your list of strategies based on specific criteria, making it easier to locate and access the strategies you need.
The details for each strategy include the following columns:
- Code: This code, uniquely generated by the system for each strategy, can be utilized to track signals within the My Signals Tab.
- This is the strategy name you specified during its creation. Keep in mind that each strategy must have a unique name.The NAME assigned to each strategy can be utilized to filter signals and other details in the My Signals Tab.
- Start Time: denotes the algorithm's chosen initiation time set by you during strategy creation. Signals generated before the start time will not be executed. The default start time is configured as 09:15:00.
- End Time: END TIME – Optional, signifies the algorithm's designated conclusion time set by you during strategy creation. Signals generated after the END TIME will not be executed.
- Upon logging into Algomojo, both Live and Paper Trades are initially set to INACTIVE by default. Choose either LIVE or PAPER Trade to initiate algo trading.INACTIVEIndicates that the Algo is disabled and any signal generated from your system will not be processed.PAPER TRADE ACTIVEIn this mode, signals generated by your trading system will exclusively be executed for paper trades.LIVE TRADE ACTIVEIn this mode, signals generated by your trading system will be executed in your Broker account.
- Upon logging into Algomojo, both Live and Paper Trades are initially set to INACTIVE by default. Choose either LIVE or PAPER Trade to initiate algo trading.LIVE TRADEIf chosen, your trading system will execute orders in your broker account based on any generated signals.PAPER TRADEIf selected, your trading system will execute orders in paper mode instead of live trading. Use Paper Trade to validate the process and ensure that signals are being executed as per your expectation. Not recommended to use Paper trade as a Backtesting tool.At any given time, you can have only 3 Paper Trades enabled. The number of trades allowed in Paper Trade mode is capped at 200 per day.
- The "Actions" column provides options to manage and edit your strategies, allowing you to make adjustments or modifications as needed.
- In the gif above, you can see how to navigate to the 'Generate Signals' actions screen.The Generate Signals function allows users to manually execute orders for their created strategies. The system will monitor these manually placed orders and synchronize them with the algorithmic signals generated by your strategies.BUYUse this to place a Buy Order.SELLUse this to place a Sell Order.SHORTUse this to place a Short Order.COVERUse this to place a Cover Order.SQUARE OFFUse this to Square Off an existing position.
- Create: Create a new trading or business strategy tailored to your specific objectives.
- Edit: Edit existing strategies to adapt to changing market conditions and fine-tune your approach.
- View: View comprehensive details and performance metrics of your strategies for in-depth analysis.
- Clone: Clone successful strategies to replicate their effectiveness or create variations while preserving the original.
- Watchlist: Add strategies to your watchlist for continuous monitoring and performance tracking.
- View Logs: You can view your logs, clone successful strategies to replicate their effectiveness, or create variations while preserving the original.
- Delete Data: Delete data from your strategies for better management and organization.
- Disable: Disable selected strategies for improved performance tracking and management."