Bots execute trading strategies inside your portfolio. Bots are the home for your positions, risk management, and automations. You are in complete control of your bot's activity and tell them what to do and when to do it. You can automate all of your strategy from entry to exit, or create hybrid manual-automated strategies.
Are there sample bots or templates I can use?
You bet! We provide a set of “sample” bots that can be cloned to help you get started and learn how bots work. Plus, you can always browse hundreds of templates and strategies shared in the Community by fellow traders.
How many brokerage accounts can my bots access?
Your Option Alpha account can be connected to as many available and compatible brokers as you like. Each broker allows one API connection, which means you can connect one login per broker. Using multiple sub-accounts with the same broker requires the accounts be linked together in a single login. Speak to your broker for details on linking sub-accounts.
Can I filter trading opportunities before entering new trades?
Yes. You have the ability to filter trading opportunities before entering them inside your bots. For example, you could create an automation that only enters a short put spread IF the return on capital is greater than 30% AND the the bid/ask spread is less than $0.05 AND the probability of profit is great than 70%. This is just a small sample, but as you can see, there's a lot of flexibility and power in what you can do.
Can a bot run multiple automations at the same time?
Yes. You can choose to run multiple automations within each bot, every automation looking for a different set of criteria to enter a trade.
Do I have control over the pricing of my trades?
Yes, you have total control. You can choose to send a specific limit order, price your trade a certain percentage of the bid-ask spread, or use our proprietary SmartPricing technology to try multiple prices for you.
Yes. We have weekly live beginner workshops. These events are perfect for new autoatraders looking to learn about bots, ask questions, and see autotrading in action. Sign up here.
Can I still open and close positions with my broker?
Of course. You can still open and close positions in your broker's app. You can also import existing brokerage positions into your Option Alpha account, as well as open and close positions manually in the autotrading platform.
What is an automation?
Automations are the instruction manual for your bots. You can use automations to scan the market for opportunities, open positions, manage your trades, and more. Automations run at 15 minute intervals, or you can run them on custom schedules.
How do I trade live money with a bot?
When creating a bot, you must select an account. Simply connect the bot to an authorized live brokerage account. All bot orders will automatically be sent to your broker for execution.