Event automations are a powerful tool that give autotraders an added element of customization and flexibility. You can use events to schedule automations in the future based on specific dates and certain bot actions.
This workshop explores detailed use cases of event automations. You'll learn how to run an automation on a specific date and time, schedule repeating automations, adding bot buttons, and resetting bot tags at the beginning and end of the trading day.
Option Alpha members can see the bot example discussed in the workshop here.
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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.
All right, what's up, everyone? This is Kirk here again, and welcome to today's automation workshop. Got a really fun one for you guys here today. We're gonna be walking through scheduling bot actions using event-based automations. This is gonna be a fun one because I truly don't know if people know how many possible combinations you can really put together here with event-based automations. And I think, and I hope that today is really kind of like the launching pad, if you will, for putting together those event-based automations and triggering those one off of another potentially or based on bot actions, and then also using them to do really cool things in your bot like retagging your bot in the morning or doing something in the afternoon.
So I hope that today's workshop is a really good run-through of a lot of different things that you can do with your automations inside of Option Alpha. This one's gonna be a fun one. We're not gonna dig into building a particular bot here. We're just gonna explore the different ways that we can use scheduling actions and event-based automations for our bot.
Here's what we're gonna cover here. Really simple, very easy one. We're gonna go through today. If you're a beginner, if you're a newbie, if you've been around the block a few times with bots and automations, I think you guys are really gonna enjoy this. So the first thing that we're gonna cover is single date and time-based automation runs. This is gonna be a really easy one, very particular use case here, but an important use case.
The next one that we're gonna be covering is we're gonna be covering scheduling repeating automation runs. Again, a really important use case. It's a little bit different than letting scanners and monitors run by themselves continuously. So we're gonna be covering that and kind of talking through that together. And then we're gonna be exploring bot event automation triggers. I'm gonna show you how that kinda works and what that kinda looks like. And then we're gonna be adding a bunch of bot buttons to run automations at the click of a button.
These are all event-based automations that we put them in because they're triggered off of different types of events, okay? So that's really the kind of the rundown here today. It's gonna be very, very good session.
So here's what we're gonna do. First thing that I want to do is I just want to simply walk through a bunch of examples of event-based automations, and I want to kinda talk through what they are and some of the use cases for them. So before we get to too down deep into, you know, the knit and gritty of building bots and running automations and stuff like that, we're just gonna kind of walk through some of the different use cases here.
So what I did actually for today's session is I went ahead, and I created a clone of Genesis 3, which Genesis 3.0 is the third version of the Genesis series. It's inside of your templates, so if you go to your templates on the left-hand side of your bot screen, and then you scroll down to sample bots, you'll see Genesis right here is the advanced version of it. That's because it has some of these event-based automations. So if you're a newbie, follow along in the Genesis series as we went through and build out bot 1 and bot 2, and bot 3. But bot number 3 is where we started to get some of these event-based automation.
So what I did today is I basically took Genesis 3.0, and I added a bunch of events to it. Okay? Now I'm gonna create a clone of this, and I'm gonna put it inside the community once we're done, just like I always do for Bot workshops. That way, you have one version that you can use and reference as you go back through today's workshop together. But we're gonna put that in the community, so you guys have that as well. Okay?
But what I wanted to do here, and you'll see a lot of stuff in here, so don't get overwhelmed on it, is we're just gonna scroll down in the event tab to the event or the automation tab to the event section. Now notice inside of your automations and what we typically cover inside of these workshops is we will cover scanners and we will cover monitor automations. And scanners and monitors are automations that run on a continuous basis. So they just keep running until they reach all their position limits or if there's positions that are in or if there's positions or not, so they're kind of your ongoing like you know hub and spoke if you will, of your bot, right? But then there's this other category of automations that users can or traders can run, which is event-based automations.
Here's what event-based automations are, and the reason why we separated them out is because we knew that there was another, like possibly lots of different ways, that you would want to trigger your automations. Now, remember an automation is just simply a set of instructions that you tell the bot to go through. And the way that scanners and monitors run is they're triggering to your open positions or closed positions, but you can also trigger any automation you want your bot to run using events.
And so for us, events was just like the last, like bucket, if you will, when we're building out an architecting the platform to say, look, there's probably a lot of different ways that you might want to trigger automations to run. There's a lot of different ways that you might want to check different things, okay?
So when you go into your event section, the first thing that you're gonna do to add an event notice that there's already a bunch of events here. We're gonna go through some of these. These are some of the examples that we'll go through, but the first thing that you can do to add an event is go down here to the plus icon. You hit the plus, and then you'll notice when you get to the add event screen that you have a lot of different choices here. So you can choose a scheduled automation run, you can choose to run your automations after certain bot events happen, or you can choose to run them manually.
So there's a lot of flexibility even here inside of this particular screen. So really quickly, let me just kinda go through some of these. You understand how some of these different events run, and I'll give you a couple different use cases. So pay attention closely. This is more of like a, you know, learning as we go and discovering as we go. So pay attention closely here.
The first one here is to run an automation on a specific date, okay? Now, what you would want to do here because when you click the date, you're gonna actually choose the actual date. You're gonna say, look, I want to run an automation at a very specific date, at a very specific time. And then, you tell the bot what automation you want it to do. Basically, you're telling the bot what instructions you want it to take at that specific date and time.
So can you think of any use cases that you might want the bot to use a very specific date run of an automation? So I'll give you a couple. Let's say you're traveling during expiration. Usually, you're around for expiration, but right now, you're traveling for expiration. So you would go in, and you might schedule an automation to run that closes all positions that you would typically never have opened, or you would manage yourself manually, right? and you would schedule that automation to run at a very specific date, at a very specific time.
FED day, major GDP announcements. Now like inflation data, it's like a big thing, right? You could schedule it to run before somebody's, like if they don't have earnings because you can trigger earnings inside of the decisions. But let's say there's like apple's big events, right? Maybe right before Apple's big event, which isn't really an earnings day. It's not really day that comes through the data stream.
Maybe you wanna do something a little bit different, right? You could do earnings, too, yep, for sure. But let's say you wanna do the FED's day, and you want to schedule an automation to close all positions at two o'clock on the next Fed announcement so that you don't have any positions when the FED announces their interest rate decision and markets go crazy, or whatever the case is, right? You do that here with your date and time, okay?
So look, this is a very specific use case, and we want to give you that. We want to give you, right? A lot of these event-based automations that you can just say, look, I want to just run an automation that just closes all my positions or takes profits on everything or covers everything that has a 50% profit, right? Okay, that's the first one.
Second one here in this list is a repeating schedule. Now this one's a little bit different, right? But as the name suggests, instead of choosing a particular date, now we're gonna choose a particular schedule. So notice, when I select schedule or repeating schedule, you notice that there's basically two things I have to fill out, and it really makes a lot of sense if you think about it. The first thing is you have to tell the bot what schedule you want it to run this automation on? Like, when do you want it to do stuff, right? and then you have to tell the bot what automation to run.
So, for example, you could select your schedule, and you could say even, hey, I want to start it today. August 18th or you could even push this date out in the future. You say you know what? I actually want you to start running this particular schedule, and not a lot of people use this particular feature in here, but you can do it. You can set a schedule to start at a later date. So let's say again, here's a use case for you. Let's say you're gonna be traveling. You're gonna be on vacation. You're gonna be out for work or whatever. Why don't you go in and set a schedule to do some extra automations, right? Some extra things that you might want to run while you're away, right?
If you don't use scanners and monitors, right? Maybe you want some extra profit-taking checks. You want some extra whatevers. So you set those to run on a repeating schedule, and you start that schedule when you are away. And you can even end it on a particular day too. You can say, look, I want you to start this schedule on the 22nd, and I want you to end it on the 29th. That's it. So I want you to literally, bot, run this particular set of, you know, criteria that I put in here between these two dates, right? I didn't do anything in between for a second here, but you can see how you can start it and end it on particular dates, right?
Next thing that you said is you said you're repeating. You can just choose from every or every two or every three or whatever criteria works for you. You can do month, you can do day. Notice if you do every day, you don't have to select the days. It knows like the platform's intelligent enough to know. Okay, yeah, like every day means every day. If you do every week, well, you can actually specify what days of the week? So let's say you want to run your automation not continuously, but you want a specific set of instructions or specific sets of actions to go out on Mondays, Wednesdays, and Fridays. That's it. There's nothing at like you hate Tuesdays and Thursdays for some reason or something about your strategy; you don't want to trade Tuesday and Thursday, right?
So you just simply toggle these on and off. Just I want to trade Monday, Wednesday, Friday. I want something to happen, and then you choose the time. So I want something to run at 10 o'clock in the morning, after the open, Monday, Wednesday, Friday. Whatever it is for you, and you make all those selections. This is different from scanners and monitors, which will run every 15 minutes. This is for the person who says, you know what? My strategy is to open a new position every Monday, Wednesday, and Friday at 10 o'clock in the morning. That's when I open positions. I don't care if I open positions on Tuesday and Thursday. I deliberately want to open positions Monday, Wednesday, Friday.
The last thing that you do is you set your market holiday. You can say run the day before, run the day after, or skip. Very important that you set these because you have to tell the bot what to do on those kind of odd days where you have a market holiday, okay?
So let's say we have our schedule in place. We've got it ready to go. We hit save. Our schedule is in now for this particular event. And now we just tell the bot what automation to run, right? so it could be running one of our scanners to open positions, right? It could be running one of our monitor automations to close positions. It doesn't matter what you put in here. All you're doing is now setting up your own custom way of telling the bot when to trigger actions and run automations and decisions inside of your particular account, okay? You could do like a 50% profit taker or something like that. You could do anything that you want inside of your account.
Now the next thing is, so we covered schedule that seems pretty intuitive now. The next thing here is bot events, okay? The next thing here is bot events. Now this one is a really fun one, and I personally think this is one where you can actually, if you really get creative here, and I know there's a lot of creative people in this community. If you really get creative here, you can do some pretty insane stuff with bot events. But here's what happens with bot events.
Bot events will trigger an automation after a certain event happens, right? And you want to think about it like a domino effect type of event, right? so when one thing happens, whenever that thing happens, on schedule, off schedule, randomly open position, whatever. That would trigger the automation to run right away, okay? So if you have a bot event called open position, this will run an automation one time after the bot opens new positions. That's it.
So as soon as the bot opens a new position, boom, this thing will run an automation instantly. That means that if you open a position in between a scan interval, you open it manually, the bot opens it automated. However position gets opened, the bot can then run an automation after a position is opened and just one time. So let's say what you might wanna do is you might go in here, and you say, you know what? I wanna trigger this to run an automation after a short put spread is opened, right?
And notice you can say any position, so bot, it doesn't matter. You know, run this automation after any position opened. Or you can say, you know what? I wanna run this specifically after short put spreads are opened. So what you could do here is you could run an automation to basically have like a 50% profit taking order immediately start working in the market.
I know a lot of people who do it, like a lot of day trading strategies or really fast strategies. They want to get those working orders in right away, and so you could actually trigger an automation to start the closing process at your predetermined profit targets as soon as the position is opened. Or you could run an automation to tag the bot as, let's say, actively hedging, right? So as soon as the bot opens a new position, right? Then you could say, hey, you know what? Run an automation to tag the bot and send me a notification that it's actively hedging, right?
You could do really crazy stuff with this, where you instantly run automations based on positions that are opened. So again, the event that is happening, the thing that is triggering this automation to run is a position is opened, okay? That's the thing that's triggering it to run is a position is opened. And just like we can run an event, and an automation after a position is opened, we can also simultaneously run an automation after a position is closed.
So this one's a really cool one where some people what they wanna do here is that any time, let's say, they close a short put spread. They might want to run a new automation to scan for another short put spread immediately. This means that they get potentially extra scans during the day, by the way, right? You can get some extra automation runs in here by using some of these events because you're triggering it immediately off of a bot action that happens.
So if I close a short put spread, and maybe I see a short put spread that's in here, and I'm like, oh, that's really cool. That short-put spread is profitable, right? Well, I might instantly want to run another automation to look for another short put spread immediately, right? So my bot, whenever it closes the position, whether I closed in manually or it's closed automatically, right? It instantly is running another extra automation to see if we have another opportunity. Or you could do something again where you do some tagging, or you disable something, or you check volatility, or you check for profits, or whatever. Whatever you wanna do after a position is closed, you just use the event type close position, and that triggers an automation to run after the position is closed. Okay? Pretty cool.
Couple little use cases for this. Let's say you have a bot that is selling short-put spreads, right? Bullish, bullish, bullish strategy, right? and then you want to start hedging some of those positions, right? Well, what you could do is after a certain number of positions are opened, you could then start immediately hedging those positions by adding short call spread using the open position action. Or what I do sometimes in some of the bots that I have with hedging is that when I close one side, I can instantly close the other side.
So this one right here, this closed position action, is really good if you wanna take off positions that you added at different times. But you wanna remove the positions in total, right? So if one position closes, boom, bot trigger automatically another instant automation to close the other position. Again think about it like dominos. That's what I always talk about. Bot events are like domino. You can trigger them to happen in that order, right? Like when one closes, then you run an automation to close the next, okay?
Now the next two here. These ones came in the last update. Really popular ones, and they give you extra automations, again, during the day because we have automations that run on a particular event. This one is called market open, as the name in the subtitle suggests. It runs 10 minutes before the market opens, and then you have an even automation that runs 10 minutes before the market close. And what I see a lot of people do, and you're free to do this inside of your accounts too if you want, is you add an extra scanner.
So if you wanna trade in the first 10 minutes, great, just add a market open, right? You can skip all the holidays, it doesn't matter. And you add another scanner, and then that would run that scanner 10 minutes after the market opens. Boom. You get another scan during the day or another monitor action during the day. Whatever you want.
What I like to do sometimes with these is these become things that check market conditions for me. So we're gonna through this in Genesis 3.1 here, and the advanced version as we kinda go through some examples. But what I like to do in a use case for this for me is I will run an automation that might check things like market volatility. It might check, you know, positions to see, like, do I have any positions that are massive profits, right? Like early in the day. Great. All right, get those off first.
Do I have any positions that are huge losers? Maybe I want to take those off. Maybe I'll run the market open, and then I check to see if the position expires that day, and I start closing that position early in the day, right? So anything that you would want to do really early in the day. For me, it's a lot of market conditions, checking for extreme scenarios, right? I would run that as a market open event, okay?
Now the next thing that you can do here is you can do market close as well. So you can run automations 10 minutes before the market close. You can get an extra automation out of it, and extra automation run if you just set up another monitor automation to run. But you can also do really cool things like, hey, check for a 20% profit 10 minutes before the market closed every single day, right? Like, don't check for it all day. I don't care about a profit all day, but ten minutes before the market closed, if I have a 20% profit, take it and close the positions and be done with it, right? It's that very specific window of time that you would want a very specific action to be taken.
Now here's the cool thing about market close too. If you did market close, just like we can specify days, you can specify days of the week, right? So what some people do is they say, hey, market close just on Friday, take profits on everything, or I see a lot of people use a market close event on Friday. So just like this setup here, right? And I what I see them do is they liquidate their entire portfolio on Friday.
Now I'm not a fan of that personally, but some people who trade really short-duration strategies, they don't wanna carry positions over the close, right? So they basically go ahead, and they say, look, you know what? Friday, ten minutes before the market close, run an automation, right? They may call the automation something like this, right? Like liquidate all positions, right? And it just literally loops through everything and tries to close everything. Okay? So that's what you're doing.
Ron said, can we make the market close one minute before the close? Not a good idea. The reason it's not a good idea and the reason we do 10 minutes before is because smart pricing can work through orders for five minutes. And so you get that five-minute time of working through orders before it gets crazy at the end of the day, and then if you want to close things manually at that point, go ahead and close things manually or take manual action. But you basically get like 10-15 minutes of working orders at the end of the day. One minute before would be too short to try to force positions in. There's a lot of different ways you can use market close.
Okay, the last event section here, and this one's really fun one. You guys are gonna love this in the new build because we put the buttons on the front dashboard. Right now, they're in the automation section. We'll show you how they look in the new build here, which should be coming out very soon. But what you can do is you can actually run automations at the click of a button.
So basically, what you do is you create your own really custom button that sits inside your bot, and whenever you hit that button, you run an automation. So think about this for a second. You hit the button, it runs the automation. You hit the button, it runs the automation. You can do whatever you want. You can have buttons that say open a position, scan for a hedge, take 50% profits, and then you just sit there, and you can click these buttons if you want, like a jet engine cockpit, right? And run through those particular automations.
All the event does is it tells the bot when to run the automation. The automation can check anything you want. It can check implied volatility, it can check positions, it can scan for a new trades. You can do all of that. So the only thing you're choosing here is just basically telling the bot how does it run the, like when does the automation get triggered, right? Like when does it get triggered? When a bot closes, on a schedule, market open at a click of a button, etc., okay?
All right, so here's my Genesis 3.0 advanced with event scan. I'm adding some events here. This is custom for the workshop, so I'll give you guys a copy of this. We'll put in the community once we're done here. And what I've done here is I've added a bunch of different events just to give you a small sample of things you could possibly do. So what I'm gonna do is I'm gonna run through these to kinda show you some of the capabilities here. I think you guys are gonna love it. I think you guys are gonna see some different things you could do. Okay?
So the first one here is an event-based automation that runs on a schedule. And notice you can see, right here, in the details, it says it runs every day at 9:45 EST. So 9:45 market time, okay? If you ever want to edit any of your settings, you just click on the little three dots, go to the settings, right? And then you can edit your actual schedule, right?
So if I want to switch this up and I will say, you know what? I wanna run this every day at ten o'clock. Okay, great. You just go here, and you hit save, right? Oh, I gotta change my date to today's date. Okay, great, awesome. Save. Yes, that's fine if I run it. Great, okay. And I just make that change. That's it. If I want to change it back, I just say, okay, I want to change it back to 9:00 AM. Okay, great. I have no problem with the running. Great. Awesome. Thank you, and we're done. Okay? You just make that change.
So this one runs every day a 9:45, okay? Runs every day at 9:45. Now, what automation does it run? Well, if I just click here, I can open the automation that's gonna run. Now this one is one from Genesis 3.0, which is called my morning volatility inspector. Remember I said I like to do some things like I like to inspect volatility and tag my bot different things. So, in this case, let me just zoom in here so you guys can see. I have a bot that runs a decision at 9:45 that's basically is asking if the VIX is above a disabled threshold? So I think it's around 35, is what I set it to. So 35-40 somewhere in there, but basically, I can tell the bot, look, if the VIX in the morning every day at 9:45 is above my threshold, I want the bot to tag itself as scanners disabled.
So I want to turn off scanning. Scanners, by the way, will shut off when they reach their position limits anyway, so they automatically shut off for those. But you can do some extra shutoffs for certain conditions, and you can keep your monitors on. So I'll tag my bot scanners disabled, and I'll untag my bot scanners enabled, and I'll send myself a little custom notification from my bot that says, hey, market volatility is too high today. I've disabled your scanners, and I'll check again tomorrow.
And it will literally prevent the bot from entering new positions that day. The bot may have capital available. It may have positions that it could add, right? But it won't stop the bot from managing positions. But just this morning volatility inspector will go in and will disable the scanning of the bot for that particular day. And because it runs every single day, if tomorrow volatility has calm back down, then it will untag itself as disabled and retag itself as enabled.
So it can basically do this every day. It becomes stateful. The bot in the morning because I run it using an event. I don't need to run this all day. That's the thing, right? You can if you want to. It's no harm, no foul on us, right? You want to add this logic and add it in. you wanna run it all day, every day, and whenever the VIX goes higher. Okay, but usually, big volatility days happen right away in the morning.
Next one that we're gonna do is we're gonna do this one. This one right here is an event-based automation that is triggered whenever the bot opens a short call spread position. Now this one's really specific, right? What we're saying that we want the bot to do is and follow me on this for a second. Just think about the words that we're using here. Whenever the bot opens a new position where the position type is a short call spread, okay? Whenever the bot opens a new position where the position type is specifically a short call spread. So not an iron condor, not a short put spread, not a long call, not long stock. Nothing, no. Specifically, a short call spread. Then bot, I want you to run an automation called actively hedging bot tag. That's it.
It's just running an automation that goes through and just tags the bot what it's doing. So, what automation? Is it running? Well, I can click here, and you can see that the automation that's gonna run is called all actively hedging bot tagging, whatever you wanna call it. It doesn't really matter. But what it does is whenever the automation starts, it tags the bot as actively hedging.
Now what's really cool about this, and again, you don't have to use this, okay? You don't have to use this, but when you use stuff like this, you basically can tell the bot and yourself what is going on. You can use this to trigger when really important events happen, like this particular bot. Genesis 3 is mostly selling put spreads. But Genesis 3 was built to hedge itself and sell call spreads and basically convert entire condors.
So when it sells a call spread, I tag the bot as actively hedging. That way, I know when I'm looking at it, I know if the bots actively trying to, you know, like fight back a position. And I can also choose to send myself a notification like hey, a new call spread position was entered to hedge a challenge put spread. So, I can tell myself when certain events happen instantly, right? When those events happen.
Now, again, you don't have to do this. But notice that you don't have to either have these really long complicated things that happen for events either. So, in this case, whenever a new short call spread is opened, I'm just running an automation that does two things, right? It's just tagging itself and sending me notifications. That's it. I don't need it to go through a thousand decisions. I don't need it to check volatility. No, no, no. in this example, in this use case, I just need it to tag itself and send me a notification. That's it.
The tag would appear right inside of your dashboard. That's how I use tags right here. You can see here, and you can create tags right here if you want to tag the bot certain conditions, or steps, or whatever. And then you can also, and we'll show you how this works here because I'm gonna use some buttons to retag the bot as we're going here. But this is where all the tags would appear. By the way, let me go in here just for a second, okay? I'm gonna switch back over to one of my Genesis bots. I'm sorry, one of my Hexabots.
So this one, like Hexabot right now for GLD. You can see that it's tagged as Hexabot because I just like to organize my bots like that. It's tagged this trading GLD, and then it has a tag called scanning paused for laddered entries, right? That's the tag that it has right now because that's what it's doing. So I tag the bot based on the state that the bot is in.
So, for example, like this one, FXI, you can see that scanning is disabled because the opportunity I'm looking for is unavailable, and I'm actively monitoring the opportunities. Now, again, that's not the only way to do it, but it's just one way to do it, so you can use tags to do that. Okay? And that's where they show up.
Next thing that we do here, so go on this one, this event runs whenever a short call spread is opened. Okay. Next one. The next one that we can run here is we can run buttons, okay? Buttons are really cool. So I kinda went through some examples here. I went through scheduled. I went through a bot example one, right? A bot event. Market open and schedule could be very similar. So now what I wanna do is I wanna show you how some buttons work, okay?
I want to show you how some buttons work. Buttons are really cool because what they do is they allow you to run automations, like you guessed it, at the click of a button. So up here at the top, these are our buttons that I've created for this bot. Okay? I'm gonna create a button from scratch, and then we can add it to this bot as well. So what I'm gonna do is I'm gonna go down to the events, and I'm gonna add a new button. I'm gonna add a new event. I'm gonna choose my event. I don't wanna do it on a date. I don't wanna do a repeating. I don't wanna do it on body bents. I wanna choose a button.
Buttons are super fun, by the way. Okay? Now the button text. What do you want the button text to be? We can say, we'll say take 25% profit, okay? Take 25% profit. Whatever you want the button text to be. It can be click me or stop or whatever, own the world. Whatever you want. Okay? Yeah.
All right, so you choose a button style, whatever. Now what you do is you choose the automation that you want to run. Remember, and this is the important part, whenever you click this button, an automation will run. It will run instantly. It's not gonna wait for a schedule. It's not gonna wait for a day. It's running at the click of a button. Again, it's like a trading like cockpit for like a fighter jet. So what automation do you want to run? Well, you can run any automation that you have saved in your library, you can run automations that you've scalped from the community, right? You've saved and cloned templates, and you can run anything you want. Okay? You can even build a brand new automation right inside of here.
Now what I wanna do, let's just build out a brand new automation here. Okay? We'll call it our 25% profit taker button. Okay? That way, I know what it is. I know what it's doing. I'm just gonna add a couple decisions. I'm gonna say whenever this automation runs, whenever I click this button, I want my bot to loop through any positions I have, right? Whatever positions I have and I wanna check and see if I have a 25% profit on any of these positions. Okay?
And so what I can do is I can say, hey, you know what? I want to check and see if the position return is greater than 25%, okay? And if it is, then what I wanna do is I wanna go ahead and send an action to close the position. Okay? That's it. I just want an action to close the position. You can even do the final price at like 60% of the bid/ask spread. Make it really specific. Okay?
But in this case, that's all it's doing when I click this button. It's all it's doing is, like, go ahead, and I click this button. I want this specific set of actions and decisions to happen. Once I hit save, I add it here. Notice this is what the button is doing. Again, remember, we put this in a very specific order so you can think about this as you go through this and talk through it in your head, right? When I click this button, with the button text take 25% profit. I want this particular automation to run. 25% profit taker.
Great, I'm gonna hit save. And there is my button right there, okay? Page will update, and you'll see now we have a new button up at the top of our list of automations. So look inside of my particular buttons for this one, right? Inside of my particular buttons for this one, and no, the button is just the color of the button. You could just change the color buttons if you want. Has nothing to do with on or off, and we have some more versions of ways you can do buttons in the new version coming out, but we just gave you some choices here for, you know, some people like green for, like, yes, execute and no is turn off, or whatever. It doesn't matter. Okay?
Inside of these buttons, you could have the buttons do really, really cool things. Like I have this button here, these two buttons that we just created called 50% profit check and take 25% profit. All it's gonna do when I click these buttons is run the automation right now. Okay? Now watch this, right? So inside of my positions, I put three dummy positions in here this morning. I just opened up some short put spreads, so we had something to work with, okay?
This is not me running the strategy and telling you what to do. I just want to give you guys something to look at, okay? So you can see I have three different active positions, right? Notice that none of them really are out of profit. They're just kind of all meddling around because I just opened them this morning. Okay? Now inside of my log, and this is really important here.
You can see the automations are just running like normal, and right now it's 3:43. So my regular scanner and monitor automations are not going to be running right now, but if I went here and I said check for a 50% profit. I click that button, and instantly the automation runs to check for a 50% profit, and I can even toggle through all of my different positions and see do I have the 50% profit. Nope, don't have a 50% profit on these positions, right?
I don't, and I know that, right? And if I go to the log here, you can see in the log that my 50% profit-taking button was clicked today at 3:43. So if you wanna run an automation out of the normal scheduled sequence of automations, just come in here and just click some buttons. Go in here and just say, you know what? I'm gonna check for 50% profit on anything and close it out, right? That's a really cool use case that you can add to all of your bots if you wanted to.
And because you can save these into your library, you can create it once and reuse it over and over again. Okay? So you just add this here, or if you're like, you know what? I don't know. I think I just want to take off anything that has a 25% profit. So I click this button to run the automation. And it goes through everything that says, hey, do I have anything with the 25% profit? Nope. Okay, fine. No worries, that's fine. At least it checked, right?
But then it would be really cool to be able to do that, right? Inside of your bots without having to look at your positions and go, man, do I have a 25% of profit or not? How much credit do I have? What's the premium? I gotta calculate it in my head. Nope. You don't need to do that. Now, you can do some other things with event-based automations and bot buttons as well. You don't have to just check for profits. You could have your custom order type of the strategy you love to trade set up and ready to go as a button.
If you ever thought about doing this, so check this one out. Pay attention here for this one. I have a button that I call instant open short put spread. Okay? Instant open short put spread. So, in this case, what this button is doing is whenever I click this button, it is sending an order to the market for this particular setup of a short put spread. And the only thing that I did here was I made the ticker symbol a variable. So I can choose the symbol whenever I click the button. But if you have a custom way that you like to trade, we'll put in the custom way as a very simple automation called instant open put spread. And then, whenever you click the automation button, it will try to open that very specific position.
And notice I did something specific here. I said I wanna do 30 days, a 30 delta, and a long put one dollar below or lower, right? That's pretty cool. Right? So what I can do now is I have that here, and it's set up to trade that type of position, and whenever I click the button, the only variable that I had, if you notice that, the only variable that I had was the ticker symbol. So watch what's gonna happen here.
I'm gonna click the button that says open put spread, right? so I don't have to remember, like, what do you guys do now manually. You go to the expiration, you look for the strikes, you do the thing, but if you know the type of trade that you do over and over again, create a button for that type of trade and just reuse that logic over and over again. So when you're ready to place a trade, hit the open position button right here. You don't even have to use any monitors or any automations or anything.
So if I hit open button, the bot is just gonna say, hey, look, really quick before I run this automation. What symbol do you wanna trade? And I'm gonna say, you know what? I want to do QQQ, right? and I'm gonna say run automation. Great, thanks. It's gonna say, okay, great. Thanks. I went ahead and started opening this position for you, right? That's what you wanted. You wanted something about 30 days, 30 delta, one dollar apart. I found that exact thing. Great, now I go back to my positions, and now I've got a new short put spread position in QQQ that I opened one minute ago.
Notice this is totally outside of the regular scheduled monitors and scanners, which, if you wanna use this, which I do. But if you wanna do some manual trading in here, why not just create some buttons with your favorite strategies. Create a button that says short duration put spread, or 30 day put spread, or 30 delta put spread, 50 delta put spread. Create a ton of buttons. And then you just come in and click all your buttons to open and close positions.
So you could do that here inside of your account. You just have this button. You wanna open another one? Great, let's open another one. We just click the button. Let's do XRT this time. Run the automation. Okay, great. Awesome. Thanks. Open another position, right? We go back to our positions, great. Got five positions. It's working through the smart pricing logic, right? You can see, ooh, that's a widespread. So it's trying its best here, right? Okay, it was filled with 26. That's a widespread in XRT, but it filled midpoint, right?
So great, now we have a position. Awesome. Go back to our things. Another position here. Super, super fast. Really, really easy to do. Now you've got all these positions, and you're like, oh my gosh, I wanna check for some profits. Great, go in here and say, you know what? 50% profit check on everything. Bot close anything with 50% profits, right? and then it loops through and notice inside the log. All I'm doing now is I'm just clicking buttons.
Your scanners and automations, and monitors, they'll run on their regular schedule here. But I'm now using buttons to perform specific actions inside of my bot. Now inside of your automations here, there's another one that I have here, and I mentioned this earlier. But you don't have to have buttons open and close positions, right? Of course. That would be too limited. You could have buttons do whatever you want. Just running an automation.
So I have two buttons up here called scanners off and scanners on. And in this case, if I go down to my events, and I go to those button types right here. If I click scanners off, then what I'm telling the bot to do when I click scanners off is I'm telling the bot to tag itself as scanners disabled and untag itself as scanners enabled and then send me a notification that says, you've successfully disabled scanning for this pot. We can do that, right?
So you can add, do that instantly. So watch this, okay? So here I'm gonna remove the tag from my bot. So the bot has no tags right now. Have you guys seen this? Zero tags on the bot. I'm gonna go to my automation, and I'm gonna say scanners off. I'm gonna run that automation to turn my scanners off. Now, if I go back to my dashboard, look at this tag that was added. I just added all these tag. I just added that tag just by running the automation, and I send myself a notification.
Look, my bot said you've successfully disabled scanning for this bot. Love, your bot. Thanks, bot. Appreciate that. Oh, you wanna turn the scanners back on? Great. Just create an automation with a button name called scanners on when you run scanners on, right? that automation, it just does the tagging in the opposite order. It tags the bot as scanners enabled, and then it untag the bot scanners disabled.
So watch this. You guys pay attention closely on the dashboard right now. It has scanners disabled. So when I hit this automation button at the top, and I say scanners on. It's gonna remove scanners disabled, and it's gonna tag itself as scanners enabled. Now, look at that. It switched up. So it removed one tag, and it retagged itself, basically turning itself back on because it uses logic and decisions for those, right? and now it sent me another notification. Hey, you've successfully enabled scanning for this bot. Love, your bot. Thanks, bot. Appreciate it.
So do you see how you can do this with your buttons? Your buttons don't have to just open or close positions. They can literally do anything you want at the click of a button. Let me add another one here to this Genesis 1, okay? Let me add one more event. So if I add another event and I can run it on a repeating schedule, okay? Let's say I wanna run this. It doesn't matter. But let's say I wanna run it every day. No, you know what? I wanna run it every week, just at the end of the week, okay? So Wednesday, Tuesday, Friday, I can run it in the morning. Doesn't matter. Okay? Whatever you want to do, you can run that. And if I wanna add another one, there's another one that I had in the demos that we did before, and I think it was called.. let me go to my event automations. There we go, expiration week manager. Yeah, that was a good one.
So I wanna add this automation called expiration week manager and what this particular automation does is it goes through a set of very specific decision for positions that are in expiration week, like positions that expire literally in three to five days. So you could run that as an event. You don't have to run it all the time, right? Because positions, most positions that I trade are, you know, the regular, normal monthly contracts. So they expire end of the weeks. So I would run this maybe on a schedule at the end of the weeks, right? and there, you've set it.
So now you can see I've got lots of events that I've added here for. I got my expiration week manager, volatility inspectors. I've got some buttons, I've got the pre-weekend profit checker. I mean, if you really look at this, even right now, I mean that's a lot of heavy lifting that a bot can do for you just in these events. If you go into your library and everyone has access to this. Go into your library and go through some of these sample bots that we put together for you guys. That's a great place to start. Absolutely great place to start. Gives you a lot of different use cases, gives you a lot of different examples, right? Shows you how some things work, uses best practices. That's a great place to start.
And then, from there, go into the community and start looking at other templates and start running some paper trading strategies, and then you can start going through there. So I would highly suggest you go in there and start cloning those right away and start running those in paper, so you can see how they perform and how they behave and how everything is kinda put together. Right?
Now again, if you don't know how to create a bot, you can use the bot wizard too. You can create a bot from a backtest, so you can backtest your strategy. Then if you have a great strategy, you can instantly create a bot from that. So that's another really popular one. Like a lot of people, what they do is they like to go into their backtest, and they say like, oh okay, this is.. I don't know, whatever. This one, right? Here's an IWM strategy, right? Then maybe you backtest it, and let's say you really, really like the strategy. You're like, okay, that's a good strategy. I like this. Super good.
Well, just create a bot from it. I have this bot up here called create bot. We do all the heavy lifting for you. We create all the automations. You're picking the strategy. You're picking what you want. You just wanna automate it. Okay, great. Let's do 5% of capital. Name it my bot, right? Choose what account it goes into. So connect it to one of your accounts. Make sure you give it enough capital, but we basically build out the bot for you. We create all the recipes and criteria. And then it's built. It's done.
So that makes these easy too, where you don't have to create everything from scratch if you don't want to. I think that this was a really good workshop. I really do hope you guys enjoyed going through event-based automations. If you did, please let us know.
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Awesome! Thank you all so, so much for being here today. Really appreciate you spending your time with us. I hope you guys really, really enjoyed this. If you did, again, please let all your friends and family know about what we're doing here at OA, and until next time, happy trading! Have a great rest of your Thursday. Bye. Take care.