Automated Trades
Unlock the power of bots to automate trade entry and position management. Learn how to automatically open and close positions exactly when and how you want.
Last updated
Unlock the power of bots to automate trade entry and position management. Learn how to automatically open and close positions exactly when and how you want.
Last updated
Once your automation has determined the appropriate conditions based on your decision recipes, the next step is to execute a trade. This is where Open Position Actions come into play.
Open Position Actions allow you to initiate various trade types based on your automation's logic. The available options include:
Equity: Open a long position in a specified equity.
Options:
Long Call
Long Put
Long Call Spread
Long Put Spread
Short Call Spread
Short Put Spread
Iron Butterfly (Short)
Iron Condor (Short)
Multi-Symbol Actions: These actions incorporate a built-in symbol loop, allowing you to search for credit or debit spreads across multiple symbols and strategies.
Find Credit Spread
Find Debit Spread
Single Symbol and Strategy Actions: These actions are specific to a particular symbol and trading strategy, providing focused trade discovery. Actions are available for all strategies except Long Equity.
Option Alpha offers two primary types of Trade Idea Actions:
Please note that not all symbols in our database are included in Trade Ideas, and the available ideas can change daily. For a complete list of the available symbols see our Supported Symbols.
In addition to predefined Open Position Actions, Option Alpha offers a powerful tool for discovering potential trade opportunities: Trade Ideas. This section provides a dynamic list of potential trades based on various market conditions.
By combining these actions with your decision recipes, you can create automations that execute a wide range of trading strategies.
By utilizing Trade Idea Actions, you can enhance your automation's ability to identify and capitalize on profitable trading opportunities.
The synergy between Decision Recipes and Open Position Actions is crucial for building effective automations. By carefully defining your trading conditions and desired trade types, you can create sophisticated strategies that adapt to changing market dynamics.
Remember to thoroughly test your automations using historical data before deploying them with live capital.
