Equity-Hybrid ETF/STK-1&2 15% Entry/SET 2-Target Trader v3.1005

Equity-Hybrid ETF/STK-1&2 (3&4) 15% Entry/SET 2-Target Trader v3.1005

Author Notes

Documentation For:

1. Equity-Hybrid ETF/STK – 1&2 15% Entry/SET 2-Target Trader V3.1005

2. Equity-Hybrid ETF/STK – 3&4 15% Entry/SET 2-Target Trader V3.1005

These two bots are enhanced equity trading hybrids –

These are two ETF and/or Stock equity trading bots that allow for the entry of two (2) (Bot #1 & Bot #2) ETF and/or Stock positions, and two (2) (Bot #3 & Bot #4) ETF and/or Stock positions, at Market entry levels when the trader initiates for long (NOT short) trading. As such, each of these two (2) bots is a “combo trading bot,” allowing for four (4) trades to be entered at the same time.

In other words: In each of the above, enter one, or two, ETFs and/or STKs symbols within each bot of the type desired. For each symbol, the bot will open three positions – two with adjustable price level targets, and the third to either profit when the trailing stop is hit, or, if by switching to a “manual” (OSL -”Override Stop Loss”), when that amount is hit. Thus the ability is for both bots to open a total of twelve total positions with 15% of the total of each bot’s allocation. The two bots, for either ETFs and/or STKs, or, both in the same bot, will allow the trader to open up to four different tickers for either type (ETFs and/or STKs).

All the settings for these bots are available in the “Settings” menu for running. NOTES:

In the “Safeguards” section, the Allocation is currently set to $2500.00. This is the total amount you would set for running two (2) positions: (SYM_1 and SYM_2) or, (SYM_3 and SYM_4). If you chose to run only one of the two, your allocation would actually be half of the allocation amount you enter here. If you chose to run four positions (using the second combo bot: Equity-Hybrid ETF/STK – 3&4 15% Entry/SET 2-Target Trader V3.1005), your total allocation for these four (4) trades would be 2 times $2500.00, or, $5000.00.

It is recommended to leave the other settings: “Daily Positions,” and “Position Limits,” at six (6). This is because each trade you run, (one half of the combo of two), will be ($1250.00) of the total allocation in the “combo bot,” and will open three (3) positions with 15%, ($187.50), or, one half the bot’s total allocation per symbol ($1250.00). The bot will do the math, and open as many positions of the symbol as it can within that 15% ($187.50) limit (in this default example). The “Daily Positions,” and “Position Limits,” left at six (6) will open three (3) positions for each of the two “combo” trading bots. If you desire more positions, adjust the allocation amounts as required. Changing the “Daily Positions,” and “Position Limits,” numbers will cause errors.

In the “Automations” section are the two available trading bots in each of these “combo bots.” Below this is the “Buttons” section.

The first two buttons will allow the trader to close positions, either ALL in the “combo bot,” or, select which position to close.

The third button requires attention BEFORE any new trading. This will delete tags (after a refresh) that prevent any positions being taken with a symbol prior to each symbol’s completion as a “safety” to prevent errors. (The only two tags that remain are: “equity,” and “hybrid” for identification.)

The last two buttons are: “Buy SYM_1 (or 2) AFTER Targets Set.” in Equity-Hybrid ETF/STK – 1&2 15% Entry/SET 2-Target Trader V3.1005, or “Buy SYM_3 (or 4) AFTER Targets Set.” in Equity-Hybrid ETF/STK – 3&4 15% Entry/SET 2-Target Trader V3.1005.

* So, the procedure for entering new trades is as follows in either of the two Equity-Hybrid ETF/STK “combo” bots:

1.  Go to “Settings,” then to the right side on the “Automations” section, select “Run.” In the “Run Automations” window,  select in the drop-down list, “Clear ALL Equity Tags.”     

2.  Scroll down to the “Bot Inputs” section and click the “Edit” icon in the upper right side. The “Bot Input” window will display.         

3.  Input the first, (or only) ETF or Stock ticker symbol you wish to trade. (Initially displays SPY as SYM_1, AAL as SYM_2 in the first bot; AAPL as SYM_3, and QQQ as SYM_4 in the second bot to demonstrate any acceptable ETF or Stock symbol can be substituted.)       

4.  Beneath that, in the field entitled, “SYM_# 1st Target Price” input the price level to take first profit. (Initially set to zero (0).  

5.  Again, beneath that is the field entitled, “SYM_# 2nd Target Price,” and input a higher price level to take a second profit.  (Initially set to zero (0).   

6.  The next field is entitled, “SYM_# Trailing Stop %.” (Initially set to 14% with a 1% embedded trigger point to attain a 15% trailing stop. Alter this level to your own preferences.)

7.  Next is a “Switch,” entitled, “Override SYM_# Stop Loss.” The switch is initially set to “Off.”

8.  The switch provides the utility to override the default “Trailing Stop” (initially set to 15%). When turned “On” (ONLY at the end of the trading day), the last field requires an input of a new “Hard Stop Loss” level input. A benefit of this “manual” stop level is when the bot has reached its “Target one,” and then, “Target two,” you can allow the bot to close the third position   either by waiting for your “Trailing Stop” to close, or the choice exists to enable a “Hard Stop” target with the switch for the third & final position at a higher level than that using  the   Trailing Stop.            

9. NOTE: The switch is NOT recognized until the bot is inanimate overnight.         

10. Once these settings are established for either one, or both symbols, and the “Bot Inputs” window is “Saved,” return to the “Dashboard” tab, and click on the button(s) corresponding to the trade(s) you wish to initiate, either: “Buy SYM_1 AFTER Targets Set,” or “Buy SYM_2 AFTER Targets Set,” or 3, or 4 in the second “combo” trading bot.     

A note on position amounts &/or percentage entries, targets, hard stops, etc.: Because these positions are not able to use “Smart Exit” settings as they are equity positions, all settings are restricted to being “triggered” over 15-minute intervals. This is usually not a great variance, unless an extreme price “gap” or “crash” is encountered. Most brokers will also state that these order types or exits may also have some variance and will be entered with the closest price being met. For this reason, entry pricing for the three positions may vary, as well as closed positions when a chart candle “tail” is noted.

A word of caution: Due to the state of the market since the beginning of last year, buying ETFs and stocks in this environment is risky. I have been working on these bots, (this being the other bots I previously noted I would post as soon as they had completed testing). This has been just short of one year.

The duration of these runs can be from weeks to months – thus the time it has taken to test them. I expect them to become more useful when the market turns more positive, and as well, as soon as we attain more features in Option Alpha, such as faster times for Monitor review; so in the meantime, I recommend anyone who cares to try these, to do so ONLY in your paper trading account until you are familiar with their operation, and you have made the adjustments you require.

Happy Halloween, and good luck trading! Reports of any irregularities or errors encountered are welcome to help with improvements. ~ JW

Edit

Automations

SCANNERS

Scanner – Hybrid ETF/STK_1 “Market Trader”

Scanner – Hybrid ETF/STK_2 “Market Trader”

Scanner – Hybrid ETF/STK_3 “Market Trader”

Scanner – Hybrid ETF/STK_4 “Market Trader”

MONITORS

Monitor - ETF/STK-1 "Market Trader"

Monitor - ETF/STK-2 "Market Trader"

Monitor - ETF/STK-3 "Market Trader"

Monitor - ETF/STK-4 "Market Trader"

BUTTONS

Close All Positions

Close Open Position

Clear ALL Equity Tags

Buy SYM_1 AFTER Targets Settings Set

Buy SYM_2 AFTER Targets Settings Set

Buy SYM_3 AFTER Targets Settings Set

Buy SYM_4 AFTER Targets Settings Set

History

Version 1

Oct 05, 2023

Shared by jeff64124