Decision Recipes

Comparing Position Properties

Comparing position properties allows you to reference specific position properties before moving through the automation. Here is how to use it.
Comparing Position Properties
Steve Henry
May 24, 2021

The decision recipe for comparing position properties has four inputs:

  • Position
  • Property
  • Greater than / less than / equal to
  • Value

This decision recipe allows you to reference specific position properties before moving through the automation.

Screenshot displaying the decision recipe for comparing position properties

Because the comparing position properties decision recipe uses information from an existing position inside a bot, it is typically used in monitor automations and after a repeater action.

Screenshot highlighting the repeater action in the automation editor

The first field prompts you to choose an existing open position inside the bot. Each existing position in the bot will be linked, and this field will pull in the necessary data from the position.

Screenshot highlighting the position link associated with the repeater action

The second field prompts a dropdown menu to choose from multiple variables relating to the position.

Screenshot of the decision recipe's dropdown menu criteria

The third field prompts you to choose if the property is greater than, less than, or equal to the fourth field’s value, where you manually input a value. The properties relate to the entire position, not specific option legs. To reference specific legs of an option spread, use the “comparing position leg properties” decision recipe. When you have finished creating the recipe, select “Save.”

Screenshot highlighting the save button following the decision recipe inputs

NOTE: You can also create a custom input for the value, which allows you to input the field later to make the decision recipe dynamic across all automations.

The decision will be added to the list of criteria. You have the option to add more decisions to the recipe or return to the automation editor. When finished, select “Save” again to return to the automation editor.

Screenshot highlighting the save button to return to the automation editor

The automation editor will display your completed decision criteria for comparing position properties.

Screenshot highlighting the decision recipe within the automation editor

You can always select the decision inside the automation editor and make changes to the criteria.

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Comparing Position Leg Properties
Comparing position leg properties allows you to reference specific options leg properties before moving through the automation. Here is how to use it.
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FAQs

What are the definitions of the various criteria I can select?

There are various options for analyzing a position's properties. All of these are geared towards closing a trade with an automation. There are 12 different decisions with a wide range of options to help qualify closing a position

How are these values calculated for the entire position

This depends on what specific position decision is being referenced. All calculations can be found in the Technical Documents: Getting Started - Option Alpha Docs

Can this calculation be done on stock or is it for options only?

Some calculations are for options, others for stocks, and some for both

Why should I use this recipe behind a repeater?

A repeater is used to scan all positions of a certain type. Using a repeater helps simplify am automation so you do not have to individually select all decisions for each automation.

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