“I know where I’m getting out before I get in.” – Bruce Kovne
Strategy creation is at the core of trading. A safe trade is made when the underlying strategy is solid and is well-tested for robustness. Further, sticking to a trading strategy enables you to stay focused amid volatility, noise and also, your impulses.
PHI 1 offers an advanced strategy creator that allows traders to create any type of strategies—even arbitrary ones. This enables the trader to explore novel ideas and exploit more opportunities in the market.
Further, PHI 1’s form-based strategy creator is simple to use and can be combined with superior backtesting available on the platform, so you can trade with less stress and more confidence.
Here is a detailed look at the top 5 benefits of PHI 1’s Form-based Strategy Creator:
1. No need for any coding knowledge and access to actual code
Coding is perhaps something that bothers most traders, as it can be scary for many. With PHI 1’s form-based strategy creator, you can trade with no coding knowledge.
Thus, if you want to create complex quant or price-action-based strategies, you can create a basic version of your strategy using our Form Mode and switch to Code Mode.
You now have access to the actual code, which you can use to refine your strategy. Currently, none of the existing Form-based tools provide this access because of the sheer complexity.
2. Create and backtest all types of technical strategies super quick:
With PHI 1’s form-based strategy creator, you can create any type of strategy within minutes. In fact, there is no limit to exploring strategies with PHI 1.
All you need to do is select a template if you wish to, enter entry and exit conditions—you can enter multiple conditions here—and choose from the multiple indicators available. Next, you need to set your stop loss and target profit percentage.
You can name your strategy and save it for future use. You can then backtest your strategies on the platform itself.
3. Explore new strategies with 120+ technical indicators:
PHI 1 offers 120+ technical indicators to choose from—from moving averages to Bollinger bands to RSI, you can select your preferred indicator. This choice truly gives you the space to explore new strategies and have greater control on your trades.
4. Add Exit and Square-off conditions to strategies easily and quickly:
As a trader, it is extremely important to set exit conditions and stop loss to book profit. This is because although you have employed your research and trading knowledge into your strategy, markets can be quite unpredictable.
With PHI 1’s form-based strategy creator, you can set an exit condition easily by simply selecting the indicator and adding relevant values. Further, you can also set the stop loss and target profit percentage easily
5. Backtest and simulate strategies within minutes
Limited tools are presently available for bulk backtesting. Backtesting is a necessity for traders before they place actual trades as it helps identify scenarios where your strategy might not work.
PHI 1 offers bulk backtesting along with auto-analysis of your strategy’s performance. Thus, your strategies get scored in various market scenarios such as volatility, market crash, and trending.
You can also simulate your strategies in live markets. You can, therefore, trade without worrying about how your strategy will perform in extreme market scenarios. That’s half your worries erased!
With PHI1, perhaps, the unique feature is that it is a unified algo trading platform. Because our platform is a fully automated trading system, your orders are directly sent to your brokerage account. Hence, you need not press buttons each time a signal is generated.
Also, our team offers robust support for coding strategies and also a comprehensive “Learn” section comprising comprehensive coding guidelines, which is open for access to all our users. You can also make the most of our webinars that are aimed at simplifying algo trading for you using PHI 1.
You can watch a demo of our form-based strategy creator here
Make the most of our form-based strategy creator and unleash your trading superpowers.