You can now import positions from your brokerage account into your bots! This feature gives you ultimate flexibility and the ability to still trade manually, with automation, hybrid, or any combination you want.
This is another giant leap forward for the platform. Importing positions allows you to bring active positions opened in your brokerage account into the Option Alpha platform for management.
Bots can scan through open positions in your brokerage account, allowing you to select the positions you want to import into the platform.
How does it work? Importing a position is super easy.
First, select a bot that’s connected to a brokerage account.
Next, click the “Import” button in the Positions tab and select a strategy type.
Select the position type and option legs you want to import from the available positions in your brokerage account. Bots intelligently detect supported symbols to only show positions or legs available for importing.
Finally, confirm the position’s information and adjust the price or quantity of the position, if needed.
The position is immediately imported into Option Alpha and is visible in the bot dashboard.
Now your bot can manage the position with monitor automations.
Importing a position into a bot does not remove it from your broker. All positions managed in the autotrading platform are still displayed in your brokerage account, and you can always manually override a position to regain management.
This new feature is super cool because you can manually open positions in your brokerage account and then import them as a combined position. (Although, why would you want to do that now that you can trade on Option Alpha?).
For example, you could open a put credit spread and a call credit spread in your brokerage account and import those positions into your bots as an iron condor by selecting all the legs.
Plus, you can also move positions between bots that are connected to the same account. This gives you more portfolio flexibility and enables you to create room for more positions in a bot.
The transition to automated trading is now incredibly efficient. New members can quickly and easily import existing positions into the platform and let the bots take over management.
There’s no need to manage positions in your brokerage account and Option Alpha separately; just bring them all home to your bots where they belong!