After running multiple backtests and shortlisting your favorite strategies, it is time to deploy it. ‘Deploying a strategy‘ means implementing the strategy in real-time in the stock market. Streak gives you an option to select which stocks you want to deploy, the quantity total number of strategy cycles before confirming the deployment.
You’ll notice that there are 2 fundamental modes to Deploy:
- Take Live
- Paper Trade
Let’s talk about the Paper Trade option.
How does the Paper Trade Deploying Mode Work
When you deploy using this option, Streak lets you trade without putting your capital at risk. You may call it a simulated environment to practice trading and get an idea of the hypothetical P&L. Streak tracks the scrips in real-time, notifies you, and automatically enters into a trade once your strategy conditions are met. Stockbrokers are not involved during paper trading.
The LTP and P&L segments on Streak show you the real-time data of the scrips. You can easily keep track of your trades on the paper trade window. Streak also exits the trade as soon as the exit conditions are met. The trade is also exited when it hits a Stop-Loss or Target Profit so that you can book your profits and exit the trade. This is much more useful during ‘Live Trading.’ Stop-loss is a mandatory field if you want to create a strategy via Streak. Learn how this helps you curtail losses.
This entry and exit cycle repeats itself based on the number of deployment cycles you keyed in. The entire cycle of Deployment gets captured in the Orderlog that you can view at any point of time either from the ‘Paper Trade’ page or from the “Notifications” page.
You’ll also find the ‘stop button’ on the extreme right corner of your stock. You can always exit your trade without the exit conditions being met. For instance, if you think, you’ve gained an optimum amount of profit or if you change your mind about not incurring any more losses.
Orderlog GIF (deploy 4) – link
You can save your strategies to deploy them later. You can also enter a trade through the ‘technicals’ page of the stock you’re tracking. No one knows when the opportunity might slip from your hands. You can also deploy an entire Basket of stocks and customize the conditions for each individual stock.
This brings us up to speed. Hopefully, you can leave this guide with a better understanding of Paper Trading. You can learn more about Deploying in our other modules. At Streak Academy, you’ll find a comprehensive list of jargon related to strategic trading and a huge variety of articles, ranging from beginner’s guides to overviews of more advanced topics.
Happy Trading 😊
