Intraday Long Call or Put

Have a similar idea for some time with the previous Jay’s “Daily Call / Weekly Straddle” Bot (a 10 DTE long straddle and daily synthetic straddle) and very few believers of “go long” in the community and was struggling with should or shouldn’t post it for many reasons like documentation for one but mainly with reservations about Bot effectiveness and limitations. Changed my mind after OA latest update, it is still a long way to go but I think I should give Kirk, Jack and their “small” team of OA a “big” credit for a job well done so consider this as a user feedback report (hope I’m not shooting my mouth or my best judgment). Long story short, the posted Bot only contains the first two parts of the trade structure “Entry” and “Strategy”. For an “Exit” trade, the most difficult part is blank for one (if interested) to fill according to one’s exit criteria and risk tolerance, that being said the live trade is not encouraged before paper trade, and understanding the risk/reward and Bot current limitations. If one sees “rainbow” and still feels lucky and invisible here is some thought of the capital risk from one of the Sensais stated (not exact words)”great, if one can beat the current interest rate with 101% consistency results even if the interest is 8%, 9% 10%… 20% or higher otherwise 5% should be the max to capital risk for any single or aggregated trade”.       

Potpourri:

The up/down % & $ here are for intraday SPY and should not be the same as all others and there are always other choices besides the % & $ for trending. Like the OA Hexabot has pretty good trending detection criteria if one wanted other trending entry or one can use its own golden ruler for the trending entry criteria.  

Be aware of Botzz: 

Not an expert and I think some in the community knew this but it is needed to be mentioned or re-remind. Be aware and check all your automation and make sure there are no extra “automation(s)” under “This Bot” other than the current Bot has in its automation “Settings”. It took me “many moons” (cloud be years) to find out that Bot has evil crazy twins, multiple personalities (unfortunately it is not a god like) that will screw up everything. Good for you, if even you have a god like automation(s), save it in your “automation folder” and delete the extra unused automation in the “This Bot” under the “Add Automation” field section.  

And a reminder of exit and entry scan executions:

Because Bot scans to each of its automation follow sequentially, asynchronous orders and priority as Entry triggered Exit to start then Exit stops Entry to continue (fixed, synchronous now?) which sometimes, some of the zone tags between 1 to 6 will be missed due to the prolonging exit scanning execution that prohibiting the zone tag scanning to continue (not an error, tag scan works nicely as tagging one at a time after exit execution). One can delete the tags scan or to try put the “gain/loss exit” in the “(+) Position Open” event trigger automation instead.   

Finally some suggestions for OA to consider see if these can be done (is doable?!): 

A . Switches for decision and/or function blocks. 

1. it will save time (days or months) to isolate a single or multiple “bugging“ errors for any of Bot’s automations. 
2. it can use as logic testing for two or more decision blocks and see which decision logic will yield the best result without rewriting another similar automation.   

B.  Pseudo positions (paper trade only) as many as Bot allows that one can alter and edit the content like the opened price, date of open for

1. a complete none live positions looping automation testing without keep seeing the nagging “no position found” or “no input found” message and Bot cannot help run your “tests” (everyone know but Bot!).
2. use as debugging for any of the “none exit” or preexist position automation looping without adding live positions into Bot 
3. use as hedge testing if a preposition or post-position is been challenged at some level or could be used as beta balance/delta neutral testing purpose if possible. 
4. it cannot change or alter any of the current Bot P/L and other status.     

C.  Add numerical number input selection for position strike leg (someone suggested before) in addition to Delta and price above/below the symbol and BE (price above or below) detection for position strategy. It would be easier for strategy position setup and avoid stomping between two position legs also can be used as an adjustment for hedge (a precise strike number instead of Delta) to an existing strategy if needed.    

D.  A “close loop” with or without counter (someone’s idea) for gain checking decision (day ave(low and high %)) that similar to trailing stop but can be 15 minutes (as to 15 minute candle or automation) to may be hours (as to hour candle) or longer. 

E.  Follow up (again, someone suggested before) of any unresolved helps, questions or/and suggestions (even if the answer is no, incorrect or bad idea) from community. It could sprout more ideas and better improvement. 

F.  Bot logs data export (everyone suggested) for record keeping and cross checking.           

That’s all, thanks for helping everyone, and hope no offense to someone or anyone literally. 

 Best luck to all and all your Bot Bots :)