About this template
The goal here is to front load exposure to the market and try to reach a profit target in significantly less time.
Thanks to all who contributed to this idea, and look forward to further collaborating on how to improve this strategy!
ENTRY:
• 9:45am: Opens two 0DTE IBs, each with 48% of net liq
• One position is called "the runner", and the other "not the runner"
EXIT:
• On 0DTE, subject to an 8% premium increase stop loss
• On 1DTE, bot just looks for 0.5% profit, subject to an 8% premium increase stop loss
• Immediately after the position is opened, the bot sends a limit closing order to the broker to attempt to close the position for a 2% premium decrease. OA will cancel this order after 5 minutes, but I added a button that, if pressed, will send another 5 min limit closing order to the broker.
Notes:
• I haven't run this live yet and this bot hasn't been fully stress tested
• The chart above is based on some quick and very basic analysis of 0DTE decay, and may change after seeing the bot in action
• I added some sanity checks which do check Bot Open P&L, and for that reason, I recommend a $12k allocation for this bot
• Designed for accounts that can trade above PDT (account never falls below $25k balance)
• Recommend Tradier if trading live, as this strategy can be commission-heavy and is chasing very thin profit margins
Backtesting research
Strategies traded
No-code, fully automated trading for stocks and options.