Here we shall do an exclusive Zerodha Streak Review, highlighting its features, pricing, other charges and important details.
Trading in today’s time has been easy as there are so many products to help you navigate through different options and opportunities. Zerodha Company is stated as India’s largest and the best-rated trading platform.
Time and time again, technology has proven to be a safer and reliable platform for the stock market to carry out transactions and trades. Especially for stock brokering companies, introducing newer technology-oriented programs helps traders/investors alike to make sound investments and streamline the experience as well.
Zerodha is a leading discount brokerage company that has introduced a unique trading platform called Zerodha Streak. It's the latest addition to a wide range of trading products that Zerodha has to offer.
Zerodha Streak: A Quick Review
Zerodha Streak is one of the many useful products offered by the robust company. In fact, Streak is an online algo trading platform for which you require no coding skills. Many of us struggle with trading algorithms due to lack of coding skills. Therefore, Streak presents itself as a solution to this persistent dilemma.
So, let's see now...
What is Zerodha STREAK? A Glimpse
Streak is an extension to Kite. Streak is the world’s first retail Algo trading platform for which you don't require any coding skills. It serves around 9 million customers and has integrated with Zerodha, India’s largest discount broker.
Streak helps you to create more than one million unique algos with various permutations and combinations with the help of more than seventy indicators.
1.You are able to create strategies within a minute.
2.Backtest these strategies on historical market data and deploy these strategies live in the market. Backtesting is a process of assessing a strategy’s effectiveness in generating profit by analyzing and applying a set of rules to historical data. The streak has the most powerful backtesting engine in the world that generates performance metrics for multiple stocks in a single click.
3.The streak interface is simple to understand, intuitive in its approach and extremely easy to work upon.
What is Zerodha Streak? In Detail
Zerodha Streak is a semi cloud-based Algo trading program platform that is broadly integrated with other trading platforms of a discount broker. As a web-based platform, there is no need to download any applications or software. Users can access the tool through any of the leading web browsers but only trade on the NSE.
It's a platform that allows users to devise their tactics, strategies and semi-automate their trades to execute them accordingly. To perform algorithmic trades, there is no need for any coding required. The entire platform runs on the inputs given by the users in which options are provided in a graphical user interface format. They can work in different strategies and authenticate these strategies all on one platform.
Zerodha Streak: Features to Know
1. Mutiple condition for creating algorithm: The user can add up to 5 conditions to their strategic algo to enable the user to track the progress of their portfolio.
2. Technical Indicators: Streak has all the popular technical indicators such as Bollinger bands, Supertrend, Moving averages, RSI, Momentum Indicator and more. Chart patterns such as Spinning top and Engulfing pattern are also available on the platform.
3. Backtest result display: The user can result displayed for each of their algorithm testings. Each result comprises of a P&L curve, key performance metrics, and a downloadable transactions table.
4. Multiple Scripts deployment: The user can select up to 20 scripts at the same time and deploy them all at once.
5. Mobile Notifications: You receive real-time updates on the algo deployed through mobile notifications. All the activities for the day, such as orders placed and worked will show up on the Kite order book. These would be notified to the user through mobile alerts.
Zerodha Streak: Additional Features to Add On
1.The platform comprises of an interactive user interface where trades can devise their trading strategies onto the platform without any coding.
2.Zerodha Streak is readily available for all existing Zerodha customers but for a nominal charge that can increase the profitability of traders.
3.It provides numerous technical indicators to decide the next strategy that has to be deployed.
4.There are active notifications and triggers designed to help traders in initiating their tactics if sitting in front of the charts isn't viable all day.
5.There are advanced testing kits and tools that can be sued to test different theories using historical data and other parameters.
6.Strategies that are once devised can be implemented numerous times. Also, different strategies can be implemented for up to 20 scrips at a time.
7.For effective backtesting, there are vast records of data provided such that a desirable outcome can be availed.
8.There is an option for scrip basket where up to 20 scrips can be stored simultaneously, and one strategy can be applied to test out the effectiveness and outcome.
9.The entire operating procedure is simple and straightforward. All traders have to do is create, backtest and then deploy. Once you get the hang of it, it becomes relatively easy.
10.Traders can put different strategies on entry and exit. There can be up to 5 strategies implemented on entry.
Downsides of Using Zerodha Streak
1.The platform isn't free to use. There are charges applicable which may or may not be economical to traders.
2.The platform required a stable internet connection. Any fluctuations can cause the platform not to provide relevant information whatsoever.
3.The overall tools and indicators found in the platform are limited. Further additions are to be included in the future updates
How does Zerodha Streak Work?
To explain in layman terms, imagine "X" is an intraday trader that is looking to make some amount of profit in the stock market. But to make consistent profits, his eyes should be glued to the terminal session to know what has to be executed when. Though at first, it's a fun and exciting venture, it does take a toll on the traders and becomes very exhaustive fast.
Its where emotional quotient of the brain takes over the financial criteria's that have to be met, which affect the trading aspect of "X." But to overcome this, the only way out that seems to be feasible is by getting a complex algorithm to help "X" make sound investments without affecting his investment ventures.
Its where tools such as Zerodha Streak come into the bigger picture where Zerodha handles the coding part, all you have to do is input your strategy based on your preference, and you're good to go. It's the basic understanding of what Zerodha Streaks is all about.
But to approach it from a technical point of view, there are 3 simple steps on how Zerodha Streak works. All of which are given as follows.
Zerodha Streak works in 3 simple steps:
1. Create Algorithm:
You can create an algorithm just by few clicks. The algo creation system is user-friendly wherein you can enter stop loss and target profit percentage after selecting the stocks you want to trade with.
The entire platform is built on an interactive interface where traders need not have any knowledge of coding. All they have to do is design their Algo through technical indicators, input the target profit percentage and stop loss with the stock they wish to trade.
The time frame has to be selected, and the notifications are sent out either on the web-based platform or on the mobile application if the entered Algo parameters are met. Based on the action taken on the notifications sent, the orders get executed.
You can easily test these created algorithms. Streak has a powerful back-testing engine that generates performance metrics for multiple stocks in just one click.
The backtesting factor on Zerodha streaks is quite powerful. Tests can be conducted on various strategies combining different historical data and calculate the profitability or risk associated with the strategy before implementation. The platform generates multiple metrics based on the performance of each strategy.
The results include average gain, minimum gain, maximum gain, average gain per winning trade, the average loss per losing trade and so on. It depicts the entire robustness of the Algo designed.
Once after creating and testing these algorithms, you can deploy them in the market as per your need and requirement.
Therefore, when the Algo has been designed, it's then deployed and notifications are sent out based on the conditions if they are met. Traders have to submit their final review on the notifications based on their requirements at the end.
How to Start Using Zerodha Streak?
The product is available through an internet browser. As the product is an extension to KITE you can use kite login to access the Streak platform and start right away.
Zerodha Streak: Cost
Zerodha Streaks isn't a free platform but a paid trading tool. There is a 7-day free trial period which has limited access to the trading tool. Once the trial period is over, there are three pans to choose from.
1. Basic – 500 rupees per month + GST.
2. Premium – 900 rupees per month + GST.
3. Ultimate – 1400 rupees per month + GST.
NOTE – The basic and premium plans don't have MCX included. But the ultimate plan has all the features included with unlimited scans, 100 deployments, 1000 backtesting, 10 exit and entry conditions and much more. Do check with the respective brokers for any changes in the differenct charges levied for using a particular paltform.
Zerodha Streak: A Final Review
For those looking for an alternative in trading and meeting the conditions of how they wish to execute trades, then it's a perfect platform. Don't expect profitability to remain constant but then it's required to devise your strategy accordingly to see what outcome is favourable.
Thus, this impressive platform not only enables its users to arrange conditions to empower them to make financial planning easy, but also help you with multiple options to create your own conditions.
What do you think about Zerodha Streak? Have you tried it? Did we miss any important point here? Do share your views and feedback on this algo trading platform in India.