The Option Alpha autotrading platform is a web-based tool that allows you to backtest, automate, and run stock or options trading strategy with no code.
Bots
A bot is an automated trading strategy that runs inside your portfolio. Bots can automate stock or options trading strategies. You can run multiple bots, each bot trading different strategies and different securities. You tell the bot:
- When to turn on
- What to look for
- When to open positions
- When to exit positions
- and more
A bot runs inside your account but does not have to use all of your account’s capital. You set the amount of your account's capital allocated to the bot.
Automations
Automations are the set of instructions you give a bot. There are three bot automation types. Scanners, monitors, and events can be used to enter, exit, and manage positions based on specific criteria.
- Scanners look for new positions
- Monitors manage positions
- Events can be scheduled based on specific bot actions or on a date or time
Automation Editor
The automation editor is where you enter the actions for your bot to perform. Automations have actions that tell the bot what to do.
Actions include:
- Decision
- Open position
- Close position
- Notifications
- Bot tags & Position tags
- Position loops & Symbol loops
Decision actions use multiple criteria, or recipes. The automation editor follows a decision tree framework where criteria are considered in a step-by-step, if-then format.
Bot Dashboard
The bot dashboard is the bot's homepage. The dashboard displays:
- Activity
- Performance
- Capital information
Position Statement
Bots have a position statement in the bot dashboard that provides a detailed history of all open, closed, and canceled positions within the bot.
Bot Log
The bot log displays all of a bot's automations, the last run time, and how many actions were performed.
Templates
Templates allow you to reuse and share entire trading strategies.
Clones
Clones are copies of templates that can be modified and used without affecting other bots.
Backtester
The backtester is a tool to test your strategies on historical data. Backtests can be customized by ticker, duration, trade frequency, capital allocation, and strategy. The backtester is also a tool to discover other backtests created by users in the community.
Community
The Community is the social tool within the Option Alpha autotrading platform. In the Community, users can discuss trading ideas, meet one another, share bot templates, and ask questions.
Watchlist
The watchlist is a tool to search for and rank trade opportunities and monitor relevant tickers. The watchlist can be organized and sorted by various criteria such as IV rank, momentum, 52-week range, and upcoming earnings. You can search for specific tickers, view information about that specific ticker, and add the ticker to your watchlist.
