The first thing to do for any kind of trading is to understand the market. Before you dive into Algo trading, get an in-depth understanding of the market you can trade in by using a stock trading app.
If you don’t know how to code, you can pick up some coding languages such as Python, and create an algorithm that works for you or get it coded by coders.
Before going live with your algorithm, you must test your codes first. Get good quality of previous data from reputed sources and back-test your strategy.
Codes are important for starting an algo trading so is the right broker. An individual should check thoroughly whether they have selected the right platform and right broker before starting a trade.
Once you are confident with your algorithm, the next step is to take it live! Now monitor how it functions in the real world by keeping an eye on it. As the computer software runs through algorithms it doesn’t work in our favor at times.
Once you go live by chance the first strategy doesn’t work as desired so don’t lose hope on Algo trading keep Continuing to experiment with codes, and programs to see what works in our favor.