What is an Automation?

What is the difference between Scanner, Monitor, and Event automations?

Scanner automations look for opportunities to enter new positions based on the decision recipes you create. Scanners filter through market criteria and work through a decision tree to open a position.

Monitor automations manage open positions inside a bot. Monitors actively manage different strategy types and only trigger once a position is opened with a scanner or event automation. Bot monitors typically end with a close position action and exit or adjust a trade when your decision criteria is met.

Event automations are triggered on a schedule or when something occurs inside the bot. You can use events in conjunction with scanner and monitor automations. You can add multiple event automations to a bot and target specific strategies using multiple triggers.

Can I save my automations to be re-used later in other bots?

Yes, automations can be saved to your library and re-used in any bot.

How simple or complex can I make my automations?

You can make your bot sas simple or complex as you like within the limitations of the bot platform.

Can automations trade different stocks or options within the same automation?

Yes, you can trade different symbols and different position types within a single automation.

How is an automation different than a bot?

An automation is a component of a bot. Bots consist of one or multiple automations. Automations follow specific decision recipes to execute a strategy.

How many automations can be built into a bot?

A bot can have five scanner automations, five monitor automations, and five repeating schedule event automations of each type (daily, weekly, monthly, etc.).

Are automations automatically turned "On" when I create or clone a new bot?

No. Bots are off by default. You must turn them on manually.

Do I need to have my browser window open for the automations to be running?

No. Bots run on a cloud server. Once a bot is turned on, you do not need to log back into your computer or have your browser open. The bot will run automations at their scheduled intervals.

How often are automations run during the trading day?

Automations run every 15 minutes beginning at 9:45 EST and stop running at 3:45 PM EST.

Do I have to use Scanner and Monitor automations in all my bots?

No. You can use any combination of scanners, monitors, or event automations in your bots. You can also open and close positions manually.

Remember, if a bot has an open position, a monitor automation is needed to manage the position.

Can I schedule when I want an automation to run in the future?

Yes, you can use an event automation to run automations on a repeating schedule or a one-time calendar event.

Will automations still run if the bot doesn't have any capital to allocate?

Yes, the bot will still run, but no new positions will be added if there is not enough capital allocated to open a new position. However, monitor automations will still manage open positions.

How do I remove automations from the "My Automations" list?

You can remove automations in the Automations Library by hovering the mouse over the automation and select “X.”