Check for a Profit Everyday Before the Close

Have you ever lost out on profits because you weren’t able to check your account before the market closed? We get it. You can’t always be at your computer, and the market doesn’t accommodate your schedule.

With the autotrading platform, you can offload daily management processes by performing certain tasks at specific times, so you don’t have to miss opportunities. Event automations allow you to run any automation on a repeating schedule.

You can use an automation saved in your library or create a new one specifically for the event. You can always modify events at any time to change the schedule or edit the automation, so you can adjust your strategy as markets change.

With event automations, you define the schedule and dictate what tasks are performed.

For example, you can set an event schedule to run a monitor automation that checks if a position has reached a specified profit target before the market closes every single day. You set the exit criteria and can rest easy knowing that the bot automatically closed your positions if they reached your profit target.

Event automations can work independently or be an extra layer of protection to work in conjunction with other monitor automations.

Transcript

The text is the output of AI-based and/or outsourced transcribing from the audio and/or video recording. Although the transcription is largely accurate, in some cases, it is incomplete or inaccurate due to inaudible passages or transcription errors and should not be treated as an authoritative record. This transcript is provided for educational purposes only. Nothing that you read here constitutes investment advice or should be construed as a recommendation to make any specific investment decision. Any views expressed are solely those of the speaker and should not be relied upon to make decisions.

In this video, I want to show you how to quickly use your bots in automations to automatically check how long a position has been opened.

So inside this demo monitor automation, let's assume that we start with a position loop. That's going to be looping through every position that we have.

The next thing that we can do is we can add a decision or decision action to our bot that checks to see how long the position has been opened. So we go down to our position-based recipes here, and we can see this recipe here can monitor and automatically check how long the position has been opened.

Maybe we want to make certain decisions, whether the position has been opened more than, less than, or equal to a certain number of days.This is really helpful if you manage your positions differently. Maybe if positions have been opened for more than ten days, you close them earlier, or positions have been opened for more than five days, you're willing to take a bigger profit on them. So whatever you want to do inside of your bots is completely up to you.

Now using this recipe is super easy. All you have to do is simply connect the position field to whatever position the bot is currently looping through, and then go through all the prompts to specify exactly how you want the bot to make a decision.

For example, we can check and see if a position has been opened more than ten market days. So we just simply go to more than and then select the drop-down for more than ten market days.

Maybe if the position has been opened for more than ten market days, we want to go ahead and close the position. Whether it's a profit or loss, it doesn't really matter. We just want to close the position if it's been opened for more than ten days.

As you can see, this is a really simple recipe that has a lot of flexibility as you start to manage and monitor your positions. You can make different decisions based on how long the position has been opened and how close it is to expiration, or how long the position has been opened, and whether the delta or theta value of position is over under a certain variable that you set.

It's really flexible and very easy to have your bot automatically check and see how long positions have been opened and then make different decisions or take different actions inside of your automations.