About this template
Dual Action TSLA/QQQ (modified)
It is a modified version of Matt G's Dual action.
It looks to add one SPS weekly on an uptrend without opening when toping out. If it closes out all positions it will try to open one each day until it has one open then it goes back to adding weekly. It has a downside hedge looking to hedge with QQQ for TSLA if you try other tickers you should probably not use the hedge or use the same ticker for the hedge. For NVDA I use QQQ as well since TSLA and QQQ are big drivers of QQQ trend.
-Trend checking: I added to Matt's scanner by adding more checking especially if the pricing it too high it should not enter new positions. Don't want to enter on a top.
-Extra entry: When positions close quickly I did not want it to wait to scan again the following week so I added a scanner to check for 0 positions. In that case it will run the scanner looking to open a new SPS. Scanners are set to limit total positions to 8. If that is too much lower it.
-Ticker selection: Look for tickers in a good up trend that should last a while this way you will benefit from laddering in as designed.
-Risk: It is set to 2 contracts at 50 delta(Short leg) this way risk is around 500$ per position.
-Exit: using a few monitors tested from other bots to look for key exit criteria, also using 1min exits
-Hedge: downside switch in trend is monitored and will enter a QQQ position as a hedge. You can change that to TSLA as well but your entry maybe too late. Or you can turn it off by deleting that scanner.
-Keep watch of the days in trade it should be lower than 10 if you see it creeping up it may be caused by a trend change.
I have only run it on paper, I have made several variants to test out certain aspects over the last year. I am posting it incase others want to try it on paper. If you have a trending ticker it should enter positions every week and should have a 80% or better win rate. Once the trend switches downward it should not open new positions.
If you want to try it I recommend one ticker per bot and use 2-3 bots with 2-3 trending tickers. If one is not opening positions then change the ticker on that one. This way you will have more positions to study performance.
Here is one month performance (started it on Nov 15th):
It is only 5 positions but you can see if the trend is good the laddering works well.
Here are the positions:
