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 trading different strategies and different securities. Plus, you're always in total control of everything the bot does.
You tell the bot when to turn on, what to look for, when to open positions, when to exit positions, and much 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.
A bot has global settings. The bot's settings dictate how much capital is allocated to the bot, the bot's daily position limits, and the bot's total position limits. Bot allocation limits are calculated at position entry. The bot’s global settings can be adjusted and saved at any time.
A bot has automations. An automation is an instruction manual for the bot that tells the bot what to do and when. Automations tell the bot when to take action, such as opening new positions or closing existing positions. Automations can be simple or incredibly complex.
Automations use recipes to move through a decision tree framework of steps in a logical progression. You can build automations to run continuously, on a defined schedule, or at the push of a button. Automations can be saved and reused in other bots.
A bot has a dashboard. The bot dashboard is the information hub of your bot. The bot dashboard displays the relevant information for the bot including the bot's positions, total and daily profit/loss, activity, capital allocation and usage, positions, automations, and log.
Important Bot Terms
Bot: An automated trading strategy you create with automations.
Automation: A set of criteria for entering, exiting, and managing positions.
Settings: Variable bot inputs such as fund allocation and position limits.
Decision: Criteria, or recipes, a bot references to perform specific actions.
Open Position: An action that follows a set of instructions to open a position.
Close Position: An action that follows a set of instructions to close a position.
Repeater: An action that tells the automation to apply subsequent actions to all positions of a certain type.
Criteria: Specific variables that reference or evaluate positions and market conditions.
Template: Templates allow you to reuse the framework of a trading strategy.
Clone: A copy of a bot that can be saved and modified.
Copy: A duplicate of an automation that you can edit without affecting the original automation.
Dashboard: The bot’s homepage that displays activity and performance.
Positions: The position statement displays all of your active, closed, and canceled positions.
Log: The bot log displays a bot's automations, the last run time, and how many actions were performed.
Community: The autotrading platform’s social hub where users can discuss trading ideas, meet one another, share bot templates, and ask questions.
Watchlist: A customizable tool that searches and ranks trade opportunities. You can scan for specific tickers.
Backtester: A tool to test your strategies based on historical data. Backtests can be customized by ticker, duration, trade frequency, capital allocation, and strategy
Stock: An equity stake in a company.
Opportunity: An open position action that will enter a new position if your criteria is met.
Position: An open or closed trade that was entered or exited in the platform.
Indicators: Technical way to measure various aspects of a symbol using data points.