Getting started

PraxAlpha is in private beta. Once your access request is approved you will receive an invitation to create an account. Set up two-factor authentication (TOTP) when prompted, then follow the steps below.

Connecting Zerodha

1. In the app, open Broker and choose Connect Zerodha.
2. You are sent to Zerodha's own Kite login page. Sign in there with your Zerodha credentials and 2FA.
3. Zerodha redirects you back to PraxAlpha with a session token. The token is encrypted (AES-GCM) before it is stored.

PraxAlpha never sees your Zerodha password, PIN or TOTP. Zerodha sessions expire daily, so you will be asked to reconnect at the start of each trading day. If the session is not connected, no live orders can be placed.

Setting your limits

Open Risk settings before enabling any strategy. The key settings are:

• Trading capital / fund limit – the maximum amount PraxAlpha may commit. When your broker's available margin is known and lower, the lower figure is used.
• Daily loss limit – the day's combined realised and unrealised loss at which trading stops.
• Daily profit limit – an optional upper bound at which trading also stops for the day.
• Exit on limit – whether open positions should be closed automatically when a limit is reached (on by default for the loss limit).
• Trade caps and entry cut-off – maximum open positions, maximum trades per day, and the time after which no new entries are taken (earlier on expiry days).

Limits are checked by the risk engine before every order. They help you enforce your own rules; they cannot prevent losses caused by fast markets, gaps, slippage or broker/exchange outages.

Auto vs manual signals

Each strategy runs in one of two modes:

• Auto – a signal that passes the risk engine is sent to Zerodha immediately.
• Manual (confirm-to-trade) – the signal appears in the app and in your alerts. Nothing is sent until you confirm it, and the risk engine still validates it at that moment.

Manual mode is a good way to get familiar with a strategy's behaviour before letting it trade on its own. You can switch modes or pause a strategy at any time.

What happens when a limit is hit

• The risk engine stops accepting new entries for the rest of the trading day.
• If exit on limit is enabled, PraxAlpha requests an exit of all open positions.
• You receive an alert on your chosen channels and the event is written to your audit log.
• Limits start afresh on the next trading day. If you change your limits during the day, they are re-evaluated against the day's P&L.

Exits are market-dependent. The final day P&L can end up beyond your limit, for example in a fast-moving or illiquid market.

Square-off at 15:10

At 15:10 IST PraxAlpha automatically squares off open intraday positions it opened, ahead of the broker's own intraday square-off. New entries stop earlier, at your entry cut-off time. Do not rely on this as your only exit: check your Zerodha positions and your broker's square-off policy, which applies independently.

See also the how it works overview and the risk disclosure.

FAQ

Still have a question? Email support@praxalpha.com.