Serverless Automation
About Me:
- Techie | Author | Trainer | Mentor | Startups
- Working as Engineering Lead at Unacademy
- Authored internationally published book "Building Chatbots with Python", translated in Portuguese, Korean.
- Avid Quora writer - Over a million views so far.
- Guest speaker and hackathon lover.
Contents
1. Introduction to Lambda and its advantages over EC2
2. How to install packages in Lambda
3. Using Chartink + Lambda for Strategy Automation
4. Creating an API
5. Creating Cronjobs in Lambda
Problem
- Not being able to take quick action
- Emotions play
- Strategies needs more time
- Seamless execution
- Cost and Productivity
Challenge
- I know the strategy
- I have manually backtested it or got it backtested.
- I can write the pseudo code, may be using Chartink or TradingView using an interface
- But I don't know how to automate or I can't sit all day in front of the system
Serverless Solution
Cost Perspective
- 1M free requests per month and 400,000 GB-seconds of compute time per month for AWS Lambda
| Price | |
|---|---|
| Requests | $0.20 per 1M requests |
| Duration | $0.0000166667 for every GB-second |
AWS Lambda
Average trading days: 21 * 6 hour/day = 126 hours
Average runtime: 800 ms ~1sec
126 hours= 126*3600 = 4,53,600 seconds
(126*3600*128)/1024 = 56,700 GB-seconds
56,700 GB-s - 400000 free tier GB-s = -343,300.00 GB-s
Lambda costs - With Free Tier (monthly): 0.00 USD
Let's do the maths
| Number of Requests (per month) | Price (per million) |
|---|---|
| First 300 million | $1.00 |
| 300+ million | $0.90 |
- Amazon API Gateway free tier includes one million API calls per month for up to 12 months.
- 5GB Data (ingestion, archive storage, and data scanned by Logs Insights queries)
- $1.00 per million events
Productivity and Maintenance
Perspective
- Setup cronjob with click of a button
- Logging is a piece of cake
- Search logs for history of your executions
- Stopping execution using Throttle
- Setup once and use forever
Why choose Serverless Lambda over EC2?
- Highly reduced operational cost
- Less complex to manage compared to VMs
- Faster development time and productivity
- Near zero maintenance
Running Code in Lambda
How to install packages in Lambda?
- Layers let you keep your deployment package small, which makes development easier.
- You can avoid errors that can occur when you install and package dependencies with your function code.
Layers
Creating webhook endpoint using API Gateway
- Integrating API to Lambda
- Receiving webhook request and processing in lambda
- Calling API to place order in lambda
Running Cronjobs
Cron Expression Rules
Rate Expressions
A rate expression starts when you create the scheduled event rule, and then runs on its defined schedule.