Automated trading makes a once tedious and challenging task simple. Gone are the days of tracking multiple technical indicators for a portfolio of securities and manually opening positions (if you are lucky enough to identify the opportunity and enter the trade in time).
With bots, you can leverage the power of automation to scan for potential trading opportunities with detailed decision recipes.
You can add decision recipes in the automation editor to define criteria and take specific actions based on current market conditions.
If the security is overbought, the bot will open a call credit spread. You can input detailed instructions in the open position action to filter for volume, bid-ask spread, open interest, and more, so you are always in complete control of your positions.
But what if the security isn’t overbought? If it is oversold, the bot opens a put credit spread. And if the underlying ticker is neither overbought nor oversold, the bot opens a neutral iron condor. A position for every market condition!
Imagine the old, tedious, manual way of scanning for trading opportunities. You had to be ready and available at all times, process a countless stream of information, and hope you could react quickly enough to execute the trade.
Bots scan market data, quickly make decisions, and send an order to your broker for execution when your criteria are met. All within seconds.