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Starting automated trading using Amibroker from scratch involves several steps, including acquiring market data, setting up Amibroker, developing a trading strategy, backtesting the strategy, and finally automating the trades. Here is a step-by-step guide to help you through the process.
Acquire market data:
To start, you need historical and real-time market data for your chosen instruments. You can subscribe to data providers like Global Datafeeds, Truedata or Norgate for this purpose. Choose a provider that supports integration with Amibroker.
Purchase and download Amibroker from its official website (https://www.amibroker.com/). Install the software on your computer and follow the instructions to set up your data feed from your data provider.
Learn Amibroker AFL (Amibroker Formula Language):
To create custom trading strategies, you need to be familiar with Amibroker AFL. This is the scripting language used to create technical indicators, trading systems, and backtesting modules in Amibroker. You can learn AFL from the Amibroker official guide, Amibroker online tutorials, or by joining Amibroker user communities.
Develop a trading strategy:
Using AFL, create a trading strategy based on your market analysis and trading style. This involves defining entry and exit rules, position sizing, and risk management parameters. Make sure to thoroughly research and test your trading ideas before implementing them.
Backtest your trading strategy:
Backtesting is the process of evaluating your trading strategy using historical market data. In Amibroker, you can run backtests using the Analysis window. Analyze the backtest results to measure the strategy's performance and make any necessary adjustments to improve its effectiveness.
Paper trade your strategy:
Before going live, it's essential to test your strategy in a simulated environment with real-time data. Paper trading allows you to assess the performance of your strategy without risking any capital. Monitor the results and fine-tune your trading system as needed.
Choose a broker and set up auto-trading:
To automate your trades, you need to select a broker that supports integration with Amibroker. Some popular choices include Zerodha, Upstox, Fyers and AngelOne. Once you've chosen a broker, follow their instructions to set up an account and configure Amibroker for automated trading.
Automate your trading strategy:
After setting up your broker account and connecting it with Amibroker using Algomojo, enable auto-trading in the software. This will allow Amibroker to execute trades on your behalf, according to your trading strategy. Monitor the performance of your system and make adjustments as necessary.
Risk management and monitoring:
Automated trading doesn't mean you can set it and forget it. It's crucial to monitor your trading system continuously, paying attention to risk management, performance, and any potential technical issues. Be prepared to intervene manually if something goes wrong or the market conditions change significantly.
Remember, creating a profitable automated trading system takes time, effort, and a solid understanding of both market analysis and Amibroker's capabilities. Be prepared to iterate and refine your strategy to achieve the desired results.
Mon Apr 17, 2023