Automated Trading with cAlgo, Should You Consider It?

Using cAlgo automatic trading is a great way of winning trades without breaking a sweat for cTrader users. What useful features are available here?

Algorithmic trading is a form of automatic trading that involved a process for executing orders by utilizing pre-programmed instructions. The program usually involves different aspects of trading such as price, timing, and volume.

This is not a new trend in trading. In fact, algorithmic trading has been around since the early 1980s. At the time, it is mostly used by institutional investors and large trading firms for a variety of purposes. It gained a lot of popularity because it's considered to have a faster execution time and reduce costs. Nowadays, even retail traders can get a hand on this type of trading. There are different ways of using algorithmic trading, but one of the best ways to do it is by using cAlgo automated trading.

Understanding cAlgo

While there are a lot of traders who prefer MetaTrader, others like cTrader better. This trading platform also has an automated trading program that works seamlessly alongside other platform functionalities. With cAlgo, traders can build their own automated trading robots using the popular C# language. They can also create custom indicators to further enhance their trading experience.

The cAlgo automated trading is equipped with necessary tools that allow traders to properly backtest their strategy. That way, traders can optimize their trading strategy before actually utilizing it in the real market.

Why Should You Consider cAlgo?

There are plenty of automated trading platforms in the market. But, why does cAlgo automated trading become very popular among traders? For a start, cAlgo is deeply integrated with cTrader of which the API uses a human-readable format that makes it easier to engage with users and developers alike. That extends the functionality of the API and supports a lot of aspects of forex trading and CFDs. including market data, trading history, all order types, position modification settings, etc.

cAlgo automated trading also comes with built-in code editors that are designed to make coding as simple, straightforward, and hassle-free as possible. That includes using all the useful functionalities such as search, auto-formatting, and code completion easier. In addition to that, traders can take advantage of cTrader's plug & play to easily load any robot or indicator they download from the community and simply use them with cAlgo automated trading.

Important Features in cAlgo

To make sure traders get the best-automated trading experience, cTrader provides a wide range of useful features. These features allow users to create the best automated trading strategies.

1. Visual Backtesting

Backtesting is a very popular method to try and test how well a trading strategy performs in the market. The idea is that if any strategy works well in the past, it most likely will also work well in the future. As such, a strategy that performed poorly in the past is likely to perform poorly in the future. The cTrader provides its users with advanced visual backtesting and visualizing a cBot's performance against a broker's own historical data over any specified time periods.

2. Community

The cTrader community consists of great traders, financial experts, and consultants. It's a great place to give cAlgo users an opportunity to ask questions, discuss, and share ideas. That way they will have a chance to improve their knowledge and get assistance from more expert traders in the community. There is also an extended and constantly-growing library of robots and custom indicators available to be downloaded. Traders can also share their own results and display their skills. Furthermore, there is a growing list of consultants and professionals from the financial industry who have great deals of experience in Automate.API and algorithmic trading.

3. cTrader Integration

A lot of traders prefer cTrader compared to any other trading platform. One of the reasons is that it has great rich charting tools, advanced order types, as well as fast entry and execution. cTrader also comes with a simple user interface that feels very modern and sophisticated. cAlgo automated trading allows traders to enjoy some of the best features of cTrader. For example, traders can easily create and save chart templates for future uses. The templates are shared between cTrader and cAlgo, so traders can easily access templates when switching between manual and algorithmic trading.

4. Multi-Language Support

The cAlgo automated trading is very friendly for global traders. Right now, the platform is available in 14 different languages to make sure non-English-speaking traders have the best experience too. Currently, it supports Russian, French, Spanish, Portuguese, Polish, Japanese, Korean, Chinese, Italian, Greek, Turkish, Hungarian, and German.

5. Depth of Market

Depth of market data is also known as the order book since it consists of a list of pending orders for an instrument. Usually, traders use this information to determine which transactions can be processed. Most online brokerages provide these features for free or sometimes for a small fee. The cAlgo API gives its users a complete depth of the market access in order to help traders make the best trading decisions. It uses Level II Pricing and full order book data, so traders can take advantage of their algorithms and strategies.

6. Deal Map

Another feature that also comes with cAlgo is a deal map. This feature allows its users to visualize the details of executed deals on the chart. It helps traders improve strategies by identifying opening and closing moments of deals.

Where to Find cAlgo

There are plenty of brokerages that offer cAlgo, one of them is IC Markets. The cAlgo in IC Markets presents traders with the ability to develop algorithmic trading systems and customize technical indicators. The custom indicators will appear in addition to the built-in indicators within cTrader. Additionally, cAlgo is integrated with cTrader, so traders can enjoy the benefits of the platform too. IC Market itself is known for its raw spread on the cTrader platform which can cut down trading costs.

What to Anticipate in Algorithmic Trading

Despite having a lot of benefits, using algorithmic trading such as cAlgo can have several issues. To start with, algorithmic trading is mostly used by institutional investors and big brokerages to cut down their trading costs. The reason is that most algorithmic trading is beneficial for large order sizes that may comprise as much as 10% of the overall trading volume. So, it might not be too friendly for retail traders who tend to buy in small volumes.

Another disadvantage of algorithmic trading is that liquidity can disappear in a moment, eliminating the chance for traders to profit from off-price changes. That might lead to instant loss.

Final Words

cAlgo (cTrader automate) is an automated trading software that is connected with cTrader. This software allows traders to develop an algorithmic trading system and create custom technical indicators to support their analysis. They can create it using a simple source code editor and C# language. This is a great alternative for automated trading for cTrader users. The best part is that traders can download all custom indicators available in the community and simply load them on their platform. However, using algorithmic trading such as cAlgo also has several disadvantages. For example, it is mainly used for large trading, and the liquidity can disappear in a moment and lead to loss.

Still, algorithmic trading allows faster executions, which means it is great for scalping strategy. In fact, the scalping trading strategy often uses algorithms since it involves rapid buying and selling at small price movements. That's why most brokers for scalping provide cTrader platforms for their users.