How is your experience with Zerodha Streak?

Short Answer

Streak mainly focuses on 3 aspects of Options trading which are- Strategies, Technicals, and Scanners. One can create, backtest and deploy option strategies directly from Streak and monitor them in real-time. I have been using Streak for the last month and my experience is mentioned below.

Detailed Answer

Streak-

Streak is an online trading platform that lets you, Create, Backtest and Deploy the Options Strategies in the markets in Real-Time. Streak was started in 2018 and it focuses on 3 main components of trading which are-

  • Technicals
  • Strategies
  • Scanners
  1. Technicals- Technicals are the easiest part to start in Streak. One can get familiar with technical analysis by learning about the different Technical Indicators that can be used to find out the trend of a particular security. The technical window of Streak shoes the LTP (last Traded Price) and the price change in the current stock within the desired period of time. Eg 5mins, 15mins,1 hour, etc. Some scanners that can be used to check the technicals are RSI, MA, MACD, etc.
  1. Strategies- The Strategies section of Streak is the main highlight of the platform. Streak allows its users to create and deploy the strategies in the real markets or Paper trade with them. There are basically 2 parts in the Strategies, “Basic” & “Advanced”.In the Basic category, one can choose between the many pre-existing strategies that are already present on the platform. Or create one’s own strategies from the various pre-existing templates.

On the other hand, the advanced version of the Strategy builder lets you make any amount of complex strategies without any boundaries.

  1. Scanners- The Scanners section is similar to the Strategies section but this section scans the market for stocks or a basket of stocks based on the conditions required by you. A scanner can be the beginning step for strategy building as the strategies would be built on the scanned results.

Experience-

I have been using Streak for the last month and found out some major uses of it. I use Streak mainly for scanning stocks, building and deploying strategies based on the scans with the help of one single click from Streak itself. As my account is mapped with my broker, I can execute any strategy directly from Streak and monitor my positions from Streak in real-time. This way I don’t have to switch to and fro to check my MTM or the technical chart of the underlying.

Another feature that I liked in Streak was the paper trading feature. In paper trading, one can build and deploy option strategies on the Live market without risking any real money. Your Profit & Losses will be virtual but this helps a lot while testing new strategies and planning better Entry & Exit.

An added advantage in Streak is that you can monitor your position from multiple devices, which means you can download the Streak Mobile application and get access to all the features present on the Web application. You can also enter into new positions or square off the existing positions on the go from the mobile application.

Now talking about the downsides of Streak, One main problem is that while placing an order directly from Streak, one can face a delay of a couple of seconds which can be a problem while exiting positions as that can affect the overall profitability in short duration trades.

Conclusion-

Apart from this, there were no major problems in the platform as such. Streak makes the process of trading quite easy and systematic as one can set the Stop loss and target and forget the position. It automates the trading process to quite some extent and reduces the total monitoring time.

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