Zerodha Pi is one of the finest trading platforms that I have come across. The Pi trading platform has many new additions and advantages on other platforms like Nest / Now or Odin. I have seen Pi is the lightest trading platform in terms of memory usage. Here I am trying to discuss a few simple steps on how to use Pi. To start trading with Pi or to open an account in Zerodha fill up the form below and you can access Pi almost instantly.
How to Get Zerodha Pi Software?
Zerodha Pi Charges
The Pi terminal is available absolutely free of cost for all Zerodha customers. Previously, there was a rule that clients who have transferred Rs. 10000 funds or who have done Rs. 200 brokerages in a calendar month will only get access to Pi. But now these rules do not exist and any client can access Zerodha Pi free of cost.
Zerodha Pi Download Link
Previously this terminal was available in the Q back office of Zerodha. But with the evolution of the new Zerodha console, it is now available in the support section of Zerodha. To download Pi use the following steps:
- Go to the support portal at support.zerodha.com
- On the search box write Where can I download Pi and search for it (check the image above).
- Once the search page shows you the result you can find the Pi download link with a click here link.
- Simply click that and Pi will be downloaded to your PC.
- Now you can click the file to run it or open the download folder by clicking the show in folder option.
Once downloaded the terminal can be installed by opening the download folder. The folder contains 3 files. The first one is Installation_Help_Pi.doc, the second one is Pi_setup.exe and the third one is release_note.txt. You need to run the exe file and that will start installing the Pi terminal. If the prompt tells you to Extract, Run or Cancel, make sure you choose the Run option.
Now follow all the on-screen options and Pi will get installed in your system. You can see the Pi icon on your desktop.
Zerodha Pi Login
Once Pi is installed, double-click the desktop icon and you can start Pi. To log in, you need to put your Client ID, Password and click login.
Next, it will ask for your 6-digit PIN. Enter the PIN and Pi will be logged in.
Till Pi gets logged in, it shows you nice and useful quotes from renowned traders. Check the screenshot below.
So you can run Pi from the desktop shortcut. Open your market watch. Add your favourite symbol and start trading.
Features of Zerodha Pi
Zerodha Pi has the following main menus. File, Orders, Positions, Funds, Chart, Chart Tools, View, Alerts, Artificial Intelligence and Help.
Under the file section, you can create a market watch, load and save the workspace, load pre-defined workspace from NSE and BSE markets, load chart from disk, find any symbol, lock the terminal and exit the terminal.
The orders section allows you to put a buy order, sell order, bracket order (BO), cover order (CO), after-market order (AMO), etc. It also shows the order book and trade book. The positions section shows the admin position, cash position, and stock holding.
In the Funds section, one can pay in and pay-out funds to the trading account.
The charts section only becomes active if you open a chart. To open a chart right-click on any symbol and click the chart.
The charts that you can access can be of Minute, Hour and Day and you can choose different intervals and the amount of back data that you want to load. You can open charts of your favourite symbol also. You can open intraday or historical charts as you want. Also, you can add your favourite indicators/pivot points / different candle types (Heikin Ashi / Renko, etc). Once you open any chart you can access the chart menu and which consists of saving, zooming in and out, scrolling left or right, applying specific templates or removing all drawings. You can also change colours and export the chart to Microsoft Excel.
Chart Tools Menu
The next menu is the chart tools. Here you can add buy or sell symbols or add different drawing tools.
The next menu is the view, where you can adjust your different view settings. In the next menu, you can create formula-based alerts. There is also a scanner and backtesting option available.
More extensions on the Zerodha Pi can be applied to artificial intelligence, where you can extend your knowledge of the Tradescript code. You can create your own expert advisors and even attach them to live trading.
Finally, there is a help section for your usage questions.
Advantages of Zerodha Pi
- Advanced charting – 10 different types of charts with 80 built-in technical indicators
- Simple scripting for semi-automated trading – Code advanced strategies with a simple yet powerful scripting language
- Easy pattern recognition
- 50,000 candles worth of FREE historical data.
- Real-time trade signals from expert advisors (EA)
- Artificial intelligence and Genetic algorithms
- Direct trading from the chart is possible
- Usage of bracket orders and cover orders
Disadvantages of Pi
The main disadvantage of Pi is that it’s a desktop platform. It does not have a mobile version and hence the 30% of traders who trade only from mobile are unable to use its rich features.
How to Trade Using Zerodha Pi
I have created a simple video on Zerodha Pi usage and 2 simple trade setups. Watch it below:
Overall in my experience, Pi is a great platform for trading using a bracket or cover orders. Using bracket orders or cover orders in the Pi platform you can automate your trading. In the same order, you can put the target and stop loss and remove your mind from trading. You can also trail your stop loss automatically in Pi. To know more about the bracket or cover orders click here. To start trading with Pi or to open an account in Zerodha Click Here.
Latest Update about Zerodha Pi
Zerodha has discontinued the support for its Pi Platform. Hence, we request traders to trade with their Kite platform which is the most advanced trading platform now.