Traders repeat a lot of activities. The redundancy wastes time that should be spent on more important tasks. That’s why we built the autotrading platform and created reusable automations. Reusable automations help you save time and scale your portfolio efficiently.
Reusable automations enable you to use an automation in different bots simultaneously, so one scanner or monitor can be active multiple places in your account.
If you have multiple bots that open put credit spreads and want to exit similar positions the same way (i.e. take profits at 50% for all put credit spreads), you can reuse the same monitor automation across bots to manage the positions.
When you add an automation to a bot, you can select from your library of saved automations.
Reusing an automation saves you time and gives you the flexibility to make changes to an automation's actions. When you modify an automation, the edits flow through to all bots using the automation.
Remember, if you want to make modifications without affecting the original automation, you can always create a copy.
In this example, two separate bots trade put credit spreads. The bots use scanner automations with different criteria to open a position.
However, you may want to exit the put spreads with the same decision criteria. You can reuse an automation to manage the put spreads.
Now the same monitor automation is being used in both bots to manage open positions.
You can also use custom inputs to edit the automation’s variable fields.
When you reuse an automation, you can modify the custom inputs without having to recreate or copy an automation. All custom inputs are included when adding an automation. If you edit custom inputs, the changes will also flow through anywhere you use the automation.
You can even use custom inputs to set your profit targets.
Reusing automations is powerful because you can open positions with different scanners but manage them with the same monitor automation. This function is great if you want to reuse a management style on similar position types in multiple bots.
You can also reuse scanner automations! This is a great way to use the same decision recipe to look for opportunities in different ticker symbols.
Reusing automations is simple, but efficient. We’ve made it easy to add any saved automation to a bot, so you don’t have to worry about recreating a strategy every time.