About this template
90 DTE Long CALL/PUT trend checking scalper at 8-15%.
Continuing in the scalper series I created this bot to work with the IC scalper (it actually came first then the IC bot) bot so that same tickers could be used in the bot farm concept. This bot operates 90-70 DTE and the IC scalper is 30-1 DTE so there is no overlap. The IC scalper takes advantage of bigger premiums and time decay of a short IC while the LONG version takes advantage of fast movement in the LONG option pricing either direction. You could change it to credit spreads but I don't see much of an advantage to that.
The idea of this scalper is to use Long positions instead of IC or Credit spreads mainly because the positions have more volatility in my opinion. So once the 5 positions reach 230$ profit overall the bot exits and starts over.
If you want to enable the dead man switch you have to delete the scheduled turn off at 12:30 on weds.
I did not experiment too much with the variables in this bot other than running 5 of them with different tickers. This was the best performing one but they were all generating profit because I chose tickers in a strong trend. Some of the variables could be adjusted for possibly better performance.
The bot is using very minimal trend detection the idea is very short term in and out. So you want the bot to be able open 5 positions quickly. The bot scans 10 tickers to try and open 5.
Again similar to the IC scalper the win rate is not super important it is more important to get as many cycles (5 in then out at 230$ profit) as possible per week. This bot will generate way more cycles than the IC bot. The prices move quite well at 90DTE so I use that so that I can run other bots at 30-60DTE on the same tickers. This gives you 3 bites at the same ticker if you want it.
Aggressive settings versus Regular settings. There are a few settings I left set to aggressive when I turned this on in paper trade on sept 20th. I gave it 10 positions per day at first and I also turned off any time check for position entry. Normally I like to open uptrend positions after 3pm and down trend positions before 11am but I ran with these off. So in the aggressive mode it tries to open positions as fast as possible all day. So with the ticker set used in this template most were in a strong down trend this allowed the bot to do 2 cycles per day on several days thus the performance was pretty good over that strong down trend period. I also let it hold positions over the weekend you could add logic to get out for the weekend as an example change.
Ticker selection. Unless you are looking to change the logic you need to pick a ticker set that are in a strong trend up or down the bot will do well with either. If some of your ticker are too flat trend wise just remove and replace with trending tickers. The bar is relatively low for the trend check this is because I am trying to scalp volitively more than hang on for a week or two. Ideally a cycle is less than 3 days in than out. The first week I got 2 cycles a day almost every day it was a big down week. Also with the current logic available you are locked into selecting a delta so pick tickers that give you 300-800$ at the detla of choice. The delta is not too important the idea is to stay in the 2-3k range per 5 positions.
There are stop loss monitors that look at each position not in aggregate that can be adjusted. On the 5 bots I am running on paper none have trigger a stop loss yet. There is also a day count exit, that also has not triggered yet on any of the bots but I have that set to 20days open. If we get a bot P/L trails by logic that will also help this bot as stated in the IC scalper in my template listing.
Here is the paper trade performance for the 18 days it has been running: