If you want to run your own options trading system without a developer, you need to work towards algorithm trading. Algorithmic trading strategies are highly efficient and considered to be prominent for boosting return on investment. 

Efficiency, automation, and accuracy are the three key pillars for better algorithmic training. However, a key factor that prevented many skilled traders from moving ahead with building an option chain strategy is their inability to code. Now, you don't need to learn coding to move ahead with algorithmic trading.

A trading algorithm is a computer program that executes sell and buy orders in the financial market according to predetermined guidelines. These algorithms can efficiently manage the buy and sell orders on your behalf, depending on the conditions you've set. As a result, the manual search has reduced significantly. 

An automated trading software helps to reduce the chance of human error, which is why most people prefer it. It can assist with personalization, ensuring immediate order execution. Many trained traders have also been using the algorithmic option chain strategy. The algo trading in India needs broker/API approval and exchange approval for automated order execution.

There are different ways to build trading software without coding, such as the following:

Step 1: Create the Algorithmic Trading Platform

The primary purpose of this platform is to store and retrieve the essential data for backtesting purposes. It can test the algorithms by helping you analyze the right buy and sell conditions. You can either create your own trading system or use any pre-existing application programming interface. 

Many growing traders prefer using the existing platforms, considering they have all the essential tools. You can customize your trades, access the data, and integrate multiple trading strategies. 

Step 2: Build a Trading Algorithm Approach

Now, you need to prepare an algorithmic trading approach. To build the strategy, you'll have to consider different factors like research, mathematical reasoning, and a complete understanding of the financial market. Different markets have different regulations, so be mindful about those.

If the particular strategy or technique cannot be represented in the flowchart format, coding wouldn't be effective either. You should always establish a rule-based strategy to ensure that buy and sell orders are implemented. 

Step 3: Build the Timeframe and Frequency of Trade

Time frame is an essential factor to consider when building an options trading app. Furthermore, multiple time frame comparisons are also critical to consider, especially to determine profitable trading algorithm methods. 

You should prepare well-designed trading algorithms that you need to monitor constantly. Therefore, while determining the trading frequency and time range, it is essential to consider availability goals. If you're not into day trading or HFT (high-frequency trading), you should opt for long-term trading. 

Step 4: Evaluate the Trading Algorithm

Backtest and then evaluate the trading algorithm. Do not start trading with real money until you backtest. Integrate different factors and then assess how the algorithm is working. 

Backtest using the strategy you create in your demo account. However, the real-world trading scenario will vary slightly due to various factors, such as slippages, commissions, and swap fees, which are not available in demo accounts. 

Step 5: Connect the Algorithm to Demo Trading Account

After working with a demo account for Option chain analysis, it is time to integrate it into a real account. Trading with a demo account is referred to as paper trading. If you start noticing profitability in a paper account, you can move to a live account. 

It is best to test the performance of algorithms for around thousands of trades. You should gradually practice in real-time with a lesser amount, considering the differences in the real-world scenario. You should keep a close check on the fluctuations before finalizing the amount. 

• Use a No-Code Algo Trading Platform:

Look for a custom Option chain strategy builder that allows you to enter trading rules without programming. You can use the pre-built templates. Furthermore, you're also free to set different conditions, such as entry/exit signals, stop-loss, and targets, in which you want your trade to be automated. 

• Backtest the strategy:

Before finally putting your strategy to use, it is important to backtest it as well. You should analyze the historical data to determine the performance. Furthermore, you'll need to examine various key metrics, such as drawdowns, P&L, and win rates, to refine the strategy. 

• Optimize and implement:

You'll have to adjust various parameters, such as risk management rules, market conditions, and trade sizes, before executing the trade on the Options trading app. It is crucial to keep a check on the strategy across the live market trading conditions. 

Since you won't be hiring a developer, it is best to automate the entire platform. Once you build the Options trading app, you'll have to consider various factors to ensure accurate strategy analysis:

• Sharpe Ratio Analysis: 

You must analyse the strategy based on the Sharpe ratio. The Sharpe ratio will easily measure the performance with respect to the risk-free asset. It would consider reward and risk scenarios. The period and frequency are key measures to evaluate the volatility and returns.

• Trading frequency:

Option chain analysis is also a lot about analyzing the trading frequency. Capital use and difficulty will determine how often you trade. High-trade frequencies will require you to have lots of money and accuracy. It has to be appropriately backtested without any mistakes. It is crucial to set the frequency based on cost, risk, and speed. 

• Volatility considerations:

The Sharpe ratio and stock curve are significantly affected by volatility. Returns and success measures are comparatively less stable for unpredictable investments. You must keep an eye out for fluctuations, especially for volatility considerations. 

• Parameter Management:

Machine learning methods will differ based on various factors. With every new measure, there's a significant change in overfitting and weakness. In the initial stages, when evaluating the dependability of the NSE option chain (strike prices, implied volatility, open interest), it is advisable to choose easy-to-work-with types. This will determine the test, improvement, and launch phases. 

• Benchmark utilization:

The more information you get, the better it is for you. If you want to assess the effectiveness, you should use averages and indicators. This helps you analyze whether the potential earnings are worth taking the risks. Setting benchmarks during option chain analysis and trading enables you to assess whether your trading strategies are effective or not.

Once you start using the Options trading software, it is crucial to use trading algorithms. You can automate the entry and exit points. Some of the key tips to start algo trading as a non-programmer include:

• Risk Management:

Always work with risk management. You should consider factors like smart capital allocation, stop-loss orders, and position sizing to prevent extra losses. Risk management is essential for determining long-term success.

• Always Backtest:

Never go without backtesting your strategy. You should analyse numbers such as win rate, drop, and profit (expected). Backtesting will help you figure out the flaws in your strategy. Therefore, you can backtest and then use your real money to start trading. 

• Use the demo account:

Before going live, please use the demo account. The demo account is free of cost. The demo account will help you analyze if your strategy can work in real life. This boosts your confidence as you keep trading and improving. 

With so many advancements, you don't need to know coding. There are significant advancements in algorithmic trading strategies. You should learn how to build models and constantly test them by customising different ratios. There are risks and rewards involved, so it is best to conduct a proper backtest strategy. Building an options trading software should no longer be a challenge. Therefore, you must have discipline, patience, and skills before executing any trade. Once you've backtested and things work, you can put your actual funds to use.