This is discussed in the forum and the Fyers support team have made the statement of no 50% cash required for overnight position. Right now I am trading with just 1 lot in Fyers to evaluate their platform. I am also following up with Zerodha to fix the OI restrictions in some way.
Have you placed the trade without cash collateral? And hopefully, there is no debit balance on account of that. Please post here once you are done with the trade.
Non requirement of cash collateral can itself add significant alpha to the pf. Even debt fund lovers can choose floating funds and short term/medium term funds and use that as collateral, instead of having to be straddled with liquid funds.
API access just helps you to built custom features/ models/ scanners /indicators .Its like building your own Sensibul or Kite etc , your handcrafted features which aren’t available else where .For non techie people there are so many tools (many are even free) available in the market today .You may find people who may built custom tools.In the end it will just automate stuff , ultimately profitability depends upon the brain who is building sometime using API. There are lots of resource available on Algo/Quant trading you may read (its backend is API calls). Its not a holy grail but will give you lot of flexibility.
These are only rumors. One can verify information about prop trades done by brokers via Member Disclosures page on NSE Website. That page contains monthly segment-wise reports about Trading Member’s percentage utilization of their total open positions & margin on their total position for the purpose of proprietary trades.
Can I also do this:
If I have a Bull Put Spread and want to square it off automatically, only when the price difference b/w them becomes less than Rs.2. (Not the LTP but the difference b/w actual bid and ask price in case the order is placed at mkt price for less liquid options) ?
API would help you automate your trading. I think it has 2 major benefits
Allows you trade systems without human intervention. This also helps reduce emotions and overtrading.
Allows you to trade without being present our even passively. This also allows you manage multiple systems and positions which you can’t do manually.
If you know coding them there are many options to trade using API, zerodha has a forum dedicated to it.
If you are non technical liked me you can use either off these platform that I use.
tradetron: this is similar to streak but has but can do much more things here. The possiblity are kind of endless. You can check their YouTube page for example of what can be done. Currently has a latency of 3 to 4 seconds.
Quaniply: this can be used to automate stock mock type strategies. This is super fast almost zero latency.