Event automations give your bots an added layer of flexibility. You can schedule automations for a future date and time, create a recurring schedule, or react to opening and closing actions.
Opening a new position --with an automation, manually, or using a button-- can trigger an event automation. This tells the bot to take action when a specific event occurs, such as opening a new position in the bot.
You can customize an event to open a specific position type. For example, this functionality is great for covered calls. Once a scanner automation opens a long equity position, an event automation instantly sells a synthetic covered call on the same stock.
It’s challenging to keep track of all your portfolio’s opening and closing actions. Certain strategies depend on multiple opening orders triggering in a defined sequence. Let bot events automatically perform these tasks for you so you don’t miss an opportunity.
