@NithinKamath Hi Nitin… You had mentioned about paper trading before even trying the hands-on stuff. Just opened my account in Zerodha and am still in the stage where I want to study further before starting real time investing. keep following the Posts in TradingQnA and would also like to thank for this wonderful initiative, Zerodha. also Can you clarify given that there had been so many discussions in various posts, Is Kite the most updated tool for any kind of analysis and the old application Pi is being decommissioned. Relative question is can I add a dummy stock in Kite and do a dummy trading without real time money like we can do in moneycontrol? Would be great to hear back.
Depends on what you want. It’s like going to a bike showroom and asking is this bike good for me?
No
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There are many apps in which you can create the dummy account and trade without money. This will give you confidence and show review mistakes for better trading.
Can you mention few which are well known for paper trading
Stock trainer is one. You can search it in Google play store. There are many more similar apps
Thanks a lot Man. Am starting with it. Just one question being inquisitive, since You might be using it so is it that you can emulate the similar trend after juggling with a particular stock especially like a CNC concept i.e holding for a period. Precisely what I mean is for a particular stock, after our own respective study, technical analysis, pattern analysis does the virtual trading in Stock Trainer help directly to perform real time with that particular stock?
No two stocks react to a factor in exact same way
A particular stock will not react to the same factor at different times in exact same way
There are a lot of differences in results when you apply strategies in virtual trading vs real time trading
Stock Trainer is good but you cannot trade on nifty or bank nifty. Ever there is no option to trade in Futures&Options.
Futures & Options is not my priority area right now. Need more knowledge about it. But thanks anyways for sharing the knowledge.
I have another general query w.r.t the Zerodha Kite platform…Please do help by clarifying this…For a CNC trade in zerodha, how do I determine or choose the particular buy/sell price?
eg: If on Monday at 10:45 I want to opt for a buy order of a stock at Price X at 10:45. How does zerodha work in getting me the stock at Price X even if it’s after T+2 days?
Similarly for the Sell Price, if I want Prixe Y at 2:35 pm on a particular day, how does the order process at that price?
Is it at all possible in the first place?
For paper trade, you can simply use Marketsmojo to track your swing positions. If you are new, better stay away from intraday.
Have you used Streak for the Algo Trading? It can serve a purpose very much like a virtual trading(by creating alerts through the algo). By initial reading and understanding I like the concept as it makes use of the indicators. I got to know about it only a day ago.
Have you used Streak for the Algo Trading? It can serve a purpose very much like a virtual trading(by creating alerts through the algo). By initial reading and understanding I like the concept as it makes use of the indicators. Seems like we can’t do Algo Trading in Zerodha but atleast the alerts can be good enough via the algo created and backtested. I got to know about it only a day ago, was expecting somebody might have told about it. Have you used it by any chance?