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.

You can reference multiple technical indicators within a single scanner automation. The bot then follows predefined paths to open different position types based on live market data.

For example, in the “Honey Badger” bot, decisions are grouped to evaluate the RSI and CCI values of the underlying ticker symbol. This is where it gets exciting.

Bots are intelligent enough to react to different outcomes of each decision recipe.

You can create dynamic orders in an automation. The automation will open the appropriate position based on the indicator’s real-time value.

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.

Bots don’t just scan for new positions. Once a position is opened, they can manage multiple strategy types with monitor automations based on position type.

This is just a small glimpse of how you can now leverage the power of bots in your portfolio.