Having been associated with definedge since long and having seen the growth in launch of various products using baby steps I feel that I am amongst many well wishers who wish to see this wonderful platform grow and achieve the full potential it deserves. Therefore certain things bother me both as a trader and a long associated user of this unique platform. I have been using auto trader along with various scanners since its launch and see a game changing opportunity in a trader’s life when incorporating objectivity of P&F and Renko charts. However I am sure many like me are not able to utilise its full potential due to inherent design and application issues. A number of suggestions keep appearing on the group highlighting the problems and difficulties being faced by auto trade users. Keeping this in mind I have listed such problems and possible solutions in detail as “WISH LIST OF AN AUTO TRADER” in this forum. I request all the auto trade users to add on any additional problems they have noticed to the list . Other users too are welcome to contribute.
I am enclosing the list in the mail to [email protected] for the Team to kindly go through.
The effort may kindly be seen as a desire to improve the user experience in benefit of all of us and nothing beyond please.
**WISH LIST OF AN AUTO TRADER**
AUTO TRADE ENGINE
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Presently when more than one strategy is created by the user for various instruments, all of them are controlled by one start / stop button. Selective running of strategies is not possible. Individual radio buttons would help using only strategies which are required and save processing power.
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There is no provision to edit individual strategies except max profit or loss . For changing any values in the saved strategies one has to remove it and load a new one with changed settings. For example a running strategy if we want to change number of max trades or number of lots we cant do it. Perforce the running associated scanner will have to use the once fed values in the strategy. The requirement to change max trades or number of lots to be used often comes up while the trades are on and multiple scanners are running.
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We should be able to associate one running strategy with more than one scanner where the parameter required for strategy is same. The fields of selection of segment and group should be once for all configured in associated scanner. This way multiple scanner can use single common strategy without crowding it.
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There are multiple instances where the trades are skipping in the scanner itself. For example if a buy has been triggered in scanner and long entry trade has been taken through auto trade engine but the exit signal was skipped in scanner then the trade has to be exited manually. If the trade is exited manually from the position window of web, desktop or mobile application then the auto trade engine is not updated and for the engine the trade is still on. If the scanner where the original long trade was still running now exits on exit signal then a reverse trade is initiated in the position. This creates so much of confusion especially in a fast moving environment.
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There should be an option to stop re entry in a particular instrument or scrip. For e.g. if a strategy running in a group of stock and the stock prices have moved up significantly up in the day where the system has given two/three entries earlier then the trader doesn’t want more entry to trigger in that stock knowing fully that not much scope is left. But since no such control is available to trader the undesired rentries happen leading to overheads.
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The max trade option while creating strategies doesn’t seem to work. Either it doesn’t count re entries as new trades or overlooks number of trades which have already been closed.
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The option to set normal or MIS type of trade should be allowed to set at auto trade engine itself because if there is a mismatch between default trade setting in the TP desktop and product type in order setup of strategy then trader gets confused what the system will do. Also commodity option doesn’t take MIS order. So if the default settings in the TP and product type in order setup of strategy doesn’t match causes confusion.
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For load csv type of order setup in strategy a default template should be provided.
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There is a need felt for a detailed document or user manual for setting up of auto trade engine. A new user faces frustrating moments while setting it up in absence of any written manual especially when non standard terms are being used. Foe e.g. how would a user know what user select in add scrip means or how to setup a complicated non standard format window in load scrip option. The “How to use?” link is outdated and not as per the present auto trade engine.
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The open pos, realised PnL, Unrealised PnL and Total PnL do not match with the position windows of TP, web or mob app adding to the confusion.
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It would be better if we can take inspiration from already successful models and try and incorporate them. 1 cliq from OI Pulse and DHAN trading setups are the one I recommend for studying.
REALTIME SCANNERS
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None of the realtime scanners have the current price column in the result window. This makes the job of trader very tedious while tracking the activated trade. The trader then has to get involved in other activities like opening charts, finding the current price which on charts are not visible on price axis except on OHLC charts. This takes trader mind away from the chart and a psychological unease where he is constantly wants to be updated on current price.
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One has to use entry type multiple times i.e. if taking long entry then it has to be mentioned both in the realtime scanner and auto trade engine strategy as well. Similar activities involving multiple clicks and handmade entries take more than required time to setup a running system and tedious troubleshooting if some faults are encountered.
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Some simple requirements essential for a trader to be known takes multiple click, multiple windows and even multiple apps to get the info. For example if trader wants to know before taking a trade that how much margin is required for taking a particular trade he has to first go to chart, then click on buy/sell button, then press ctrl M where a pop up showing margin required appears that too doesn’t give any info as to what is available or how much more is required incase of a shortfall. For this either go to opstra (incase of FnO), then builder then margin required etc… or goto rzone or mob apps for equity to know the complete details. None except mob app will give complete details about margin available or margin required for the trade being taken.
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The details about total brokerage and charges as to know the breakevens are too available separately for buy and sell while a trade requires both buy and sell activity and estimation of brokerage and charges for both would be required to estimate breakevens.
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The Stoploss%, Target% and trailing SL % should be configurable or editable even while the trades are running in scanner. Presently we have to stop the scanner to do so. And when we restart the scanner the present trades running disappear and there is a mismatch with auto trade engine. Also the info about mechanism being followed for calculation of Trailing SL% should be mentioned. If a column can be added showing the current Trailing SL levels will be convenient for trader.
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A current position of of the running pnl should be available on top next to Index watch with a provision to set overall LOSS and Profit level in realtime.
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If a scanner is running and a trade triggered in scanner is not being triggered in autotrade engine then a popup should appear to highlight that and the cause of trade not getting executed.
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The Ultra scanner while using FAST scanner “NSE Dynamic Group” the selection of group becomes irrelevant. The stocks meeting FAST strategy requirements in complete NSE start appearing. There should be that filter that we want to take entries in FAST criteria meeting stocks of a particular group only.
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The trades taken by the autotrade engine are on then curret ask/bid price of the instrument while the entry price in the scanner is the current spot price therefore leading to difference visible in position page and spillage.
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The tick level mark is used for avoiding reprinting problem but same is not available/activated for commodities.
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The scanners should have options for multiple conditions entry/exit on atleast two different chart types . For e.g. if I want to take trades on double top buy condition on PNF chart only if price is above VWAP on OHLC chart then Trader should be able to set these type of conditions. If conditions of TOI and OIs can also be added for option scanner then it will be even more potent.
MISCELLANEOUS POINTS FOR IMPROVEMENT
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Back test feature of TP desktop doesn’t give correct results so it can be removed.
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Back test feature of ROZNE to also have details of trades (as in desktop ver) .
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After logging in definedge securities the page land s on myaccount page. This page to include links to pages which are useful for a trader like blog, new feature introduced, library of pattern and indicators etc under the head “useful links” for a trader to find everything required on a single page and not hunt around or keep asking for help.
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Uniformity in the name of feature and names of scanners etc to be maintained on all platform of Desktop ver, web and mobile.
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Minding small details that can improve quality of user experience for instance on myaccount page if trader has to do fund relocation then the page fund relocation doesn’t have details of funds available on that page. For that trader has to performs few more clicks to get the job done. Likewise in TP desktop one has to click the horn symbol everytime in new charts opened to see details. It should be on by default as everyone requires the details to be seen. If trader has to see a minimised window in TP desktop then just clicking on the required tab under window should open it but presently to see that page two more clicks are required. There are so many confirmation steps in taking a trade. AIM SHOULD BE TO GET THE JOB DONE IN MINIMUM CLICKS.
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The P&L report of app and web/desktop doesn’t match as app report doesn’t contain charges.
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The running PnL or position should always be visible on all platforms.
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The group porting or inter version updation/transferability of groups as the scanners are not similar in the TP and web, systems in system builder integration for TP and web should done.
THERE MAY BE A NEED TO HAVE A DE-NOVO LOOK AT TP DESKTOP OR "PRODUCT POSITIONING" AS THERE IS LOT OF DUPLICATION AND INTERDEPENDIBILITY ON TP DESKTOP, ZONE WEB/RZONE AND OPSTRA. A USER HAS TO INVARIABLY SUBSCRIBE TO ALL FOR HIM TO BE AN EFFICIENT TRADER. WE HAVE SEEN HARDLY ANY NOTICEABLE UPDATION HAPPENING IN TP DESKTOP VIS-À-VIS WEB. MAY BE TOTAL TRANSFER OF FUNCTIONALITY ON WEB CAN BE CONSIDERED AND PRODUCTS BE PLACED UNDER NEW PRICE REGIME.