About this template
The idea with this Bot is to open a SPY 10 DTE Iron Condor at 15 / 05 Deltas, or at 15 Delta for the short and 10 wide for the long.
I'm not using any indicators for entry, which is a first for me. Just going by Delta (trying TastyTrade way except 10DTE - have another version at 45DTE).
Open Interest on ALL legs must be > 200. I want liquidity in all legs.
And the Bid/Ask spread must be < 0.16 on open and < 0.26 to close. Seems this may prevent the whipsaw anomaly where you have a B/A spread of 0.01 to 2.00.
I'm also using up to 3k of a 5k allocation for the position (I usually just do 1 contract, so this is new for me), but still doing 1 position at a time.
Very small sample size for results (just 5 trades). Bot was successful in filling the 15/5 Delta IC all 5 times (didn't have any IC's that were exactly 10 wide).
I've found that creating notes on when I made changes & why, have been helpful.
Results of first 5 trades in paper.
UPDATE 01/02/23 - I'm DISCONTINUING this Bot as I've discovered thru backtesting in TOS that on average the results are not so good if market is trending up or down. So SPY is not the best symbol to use. May work well on a liquid stock that tends to go sideways most of the time. See my DANGER DANGER post below.
