Since i am on a trading break for around a year, i was wondering if i should learn something like Algo-Trading (automation using R, python etc from some institute)
But again, it is a bit costly, and as a small retail trader, i normally used pivot-point based simple price-action based trade, with indicators max limited to EMA, and i got pretty good results. As a day trader, 50 paise to 1 rupee is max per lot that a small retail day trader looks for, so i was skeptic if it will really help, but i may be wrong.
So can someone please suggest, if algo trading is something which can benefit retail investors OR is it more a tool for institutional investors, who buy/sell in bulks?
Algo trading is essentially putting down your strategy on paper, coding it, backtesting it, and then maybe use it to alert you when trades have to be taken or even place trades automated. Most traders don’t really put a strategy down on paper/backtest etc. So this is definitely a more disciplined way to trade. Yes, it will definitely help a small trader as well.
In today’s world of google/stackoverflow/etc, I think everything can be learnt for free as long as you have intent.
@nithin Thanks for the answer, so i will give a go for it as you suggested.
Little out of our current topic, but talking of free resources on the internet, i would recall Zerodha Varsity is one such nice example, which have been immensely helpful to me to learn the concepts of trading, (especially the derivatives part ).