One of the autotrading platform’s strengths is taking different paths and making alternative decisions based on one recipe. When evaluating market conditions, you may want to enter multiple position types contingent on certain indicators. If you have two or more strategies working inside one automation, the automation editor can filter through market data and make decisions based on your specific criteria. With dynamic orders, you can tell a bot the strategy type to trade based on the outcome of the decision recipes.
The bot in this video example uses an automation that scans live market data to determine if SPY is above its 200-day SMA. Depending on the answer to that question, you can add multiple open position actions to enter different strategy types. For example, if SPY is above the 200-day SMA, the automation proceeds down the “Yes” path and opens a put credit spread. If SPY is below the 200-day SMA, the automation proceeds down the “No” path and opens a call credit spread.
You can set up your automations to be incredibly dynamic and flexible enough to react to different scenarios, which is great because you may want the bot to use different strategies based on the answer to a single question. Bots are smart enough to take the appropriate action based on the outcome and enter the appropriate strategy.