Managing Multiple Strategy Types with Monitor Automations

Does your portfolio have multiple strategy types? Learn how to use monitor automations to manage different positions inside a bot.
Kirk Du Plessis
Jul 25, 2021

If you’re like most investors, your portfolio contains multiple stock or options positions, and you probably have more than one strategy for different ticker symbols and market conditions. It can be difficult to keep track of so many positions. Not anymore.

Monitors automate the management process so you don’t have to watch the market and your positions constantly.

As you add more bot positions to your portfolio it becomes increasingly important to manage multiple strategy types. Monitor automations scale with you as your position count grows.

Scanner and monitor automations go hand-in-hand. The beauty of our scanners is that one automation could potentially open multiple positions strategy types, depending on your criteria and market conditions.

Scanner automation editor with multiple open position actions

Even better, you can create a monitor automation for each strategy type so you can be confident your open positions are managed, regardless of the strategy.

You can always manage positions opened inside the bot manually through your broker platform, but monitor automations are efficient, scalable, and keep an eye on many positions simultaneously.

Plus, as this video example demonstrates, you can easily reuse automations throughout multiple bots.

Automations tab with monitor automations for different position types

This bot includes separate monitor automations to manage the three position types the Honey Badger Scanner may open. This gives you complete control of all the bot’s positions and the flexibility to modify each automation to fit different strategies.

You don’t have to use a single “blanket” management strategy. You can create specific criteria for your trading style.

Monitor automations allow you to target specific exit criteria for each strategy.

You can specify the strategy type with detailed decision criteria inside the automation editor. Then, you can reuse automations throughout your portfolio to quickly add a monitor to different bots, knowing that the bot will manage your positions exactly how you want.

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