Tradetron is an Algo strategy marketplace that is a cloud-based platform. It is a multi-exchange, multi-asset, and multi-currency strategy marketplace where you can create strategies using the automated web-based strategy builder without writing code. TradeTron offers numerous benefits that can be achieved by automated trading through various ways of communication for your ease and convenience.
Be it in manual trading or automated training, it is possible to make profits when the stocks are high, down, or sideways. Many strategies can be used to control huge chunks of stocks, cut losses or protect gains using just a small cash outlay. While everything sounds hunky-dory, there is a catch. You can also lose more money than you have invested in a short period when you don’t use the right strategies and proceed with caution. Even the most experienced traders can lose money as they have misjudged something; hence it is important to have the right marketplace strategies in place to handle them. So here are some do’s and don’ts of marketplace strategies on TradeTron to make the best use of the platform.
Things to Do When Trading on TradeTron
The stock market is a sea with dangerous sharks lurking in them. Additionally, the water is not always calm, and you will have to deal with storms now and then. To combat them, here are a few strategies to stay put when trading.
Have a Clear Goal
Automated systems need clear and precise rules and conditions to be set. So it is important to know what goals you have and what conditions and rules to put in place to achieve them. Nothing good is going to come out if you are aimless. So it is always good to have some targets and what you want to achieve. It can be from the capital to be used for the profit that you want. When the goals are precise, it becomes easy to set strategies and not change them often.
Make Use of the Arbitrage Strategy
There can be pierced gaps in the different stock exchanges on shares, and that is when the arbitrage strategy can be used. One of the prominent features of TradeTron is the use of an arbitrage strategy where the computer locates this as soon as it is available and executes the trade when criteria are met. The platform is fast enough to check if the stock is available at a lesser price on one exchange and a greater price on another and buys the low-cost exchange and sells it at a higher price. The trader gets the profits after the execution of the transaction.
Define an Exit Plan in Your Strategies
Always have an exit plan in place whether you sell or buy options. That will help you have a more successful pattern and strategy in place for trading. Determine an exit plan with an upside and a worst-case scenario keeping in mind what you are willing to take as the downside. Have rules and conditions where you can take your profits when you reach upside goals, and if you reach the downside, stop-loss and clear your position.
Backtesting is a Must
Use the platform’s features to good effect, as that will augur well for your return on investment. TradeTron offers a backtesting engine where you can test your strategies using historical data in real-time. This will help you test your keywords, corporate results, and more. It offers you insights into how the strategy will perform when used in trading in real-time. Traders would do well when they use this feature and test their strategy before going live.
Things not to do in TradeTron
Understand and get to know the Algo trading platform before you start trading. There are many great features on this platform; take the time to get to know them, as they can be useful in obtaining better results. It is suitable for all traders; even beginners can benefit from this friendly platform.
Don’t forget to read the reports as in trading, reports are an essential aspect as it gives you a picture of the money made, where you lost, and what needs to be fixed. Use the interface to get access to easy-to-understand reports and make the necessary changes.