- Enter stock positions with a scanner automation that looks for specific buy/sell signals.
- Use a monitor automation to exit the stock position based on profit targets, time until expiration, and stop-loss levels.
- Use custom inputs to create flexible variable fields for multiple tickers within the same bot.
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, so again, welcome everyone to the first bot workshop. Today we are gonna be going through technical swing trading bot for stocks.
So here is the strategy overview of the bot that we're gonna build today together. Today the focus is on entering and exiting stock positions. So, in this case, we're gonna be entering and exiting stock positions; so long equity, short equity. Again I want to start off with something rather simple, rather easy as we go through this together. You can obviously switch that out for some option positions and so make those adjustments as you go if you want to.
Number two, we're gonna be building out some scanners that watch for specific technical indicator buy signals or sell signals. So that would be included in our scanner. We wanna build a bot that says, "Hey, look for this thing. Don't look for this thing."
Third thing that we wanna do is we wanna build out some monitor automations with multiple exit criterias. Maybe we're gonna do, or we're gonna do one based on technicals, profit targets; you could also do one based on stop-loss levels if you wanted to. But the idea is there's probably more than one way to tell the bot to exit the position.
Fourth thing that we're gonna do is we're gonna do some custom inputs throughout, okay? We wanna create a lot of flexibility with these. I'll show you guys how you do these as you go. If you haven't used custom inputs yet, they're super awesome and get used to using them. So I'm gonna use them religiously as we go. I'll use them in areas that I think is appropriate to use them. If there's other areas where I don't think it's appropriate, then we won't use them, okay? Fair enough. Great.
Let's switch screens. Let's jump into the platform here.
So to build out this first spot and to go to these bot template, the first thing that we're gonna do is we're gonna go up, and we're gonna create a brand new bot. So again, if you follow along right inside of the platform, you just go up here to the top, and you just create a new bot.
That slides up this panel on the right-hand side, and you're gonna call it whatever you want to call it. In this case, we'll call mine, call mine, Kirk's Technical Swing Bot. You give it an icon, whatever you wanna do. You can name it something funny; you can do it like a honey badger or whatever you wanna do.
I'll do something a little bit different; I'll do this chart here, which is like our swing trading chart, okay? The first thing that you have to do is to give it some allocations. Just as a reminder, this is the max allocation for the bot for open positions.
So this tells the bot, "look, stop allocating capital. Don't do anything if you ever run into this max allocation." This is not your portrayed allocation; this is the max allocation for the bot in total. So we'll give something a little bit larger since we're doing stocks. Maybe let's do something like $10,000. It's all paper money at this point for these positions, so give it whatever you want.
Second thing that you wanna do is we wanna set the position limits. We're gonna keep this one for right now at just one limit daily and one new position per day. So we don't wanna do any trading in and out. We just wanna do one position a day, one position in total. Again we can adjust this as we go; I'll just make it really simple.
So once you do that, you can then view your new- what I call just like our bot shell. Everyone should be at this point. I'm sure you guys are good to go with this if you're following along.
Next thing that we wanna do is we wanna go to automations. This is where we're gonna start to add automations to the bot. Remember automations tell the bot what to look for, what to filter out, and there's three broad categories; scanners, monitors, and events. In this particular bot workshop, we're only gonna include scanners and monitors.
So scanners run every 15 minutes, with the goal or the objective of opening a new position. So when we add a scanner or telling the bot, "look, run through this sequence of decisions and actions." The goal of that scanner is to open a new position.
So we're gonna go to the little plus icon, and we're gonna add a brand new scanner. Notice that you can choose from scanners that are in your library, we could do that, but we're gonna build out everything from scratch on this bot. So we're gonna click on new automation.
Up in the top left-hand corner, it just automatically defaults to a default name like Automation 1. In this case, we wanna be a little bit more specific with it. So I wanna do something like Stock Scanner for Technical Swing with RSI. I mean, like you can be as specific as you want to inside of these automations, so you remember exactly what it is.
Or you could do something like technical swing with RSI and put in parentheses stocks so that you know this is particularly for stocks, okay?
First thing that we're gonna do is we're gonna start here with some automations. So when we go in here, we now we named, we know what this is. This is our technical swing with RSI, I'll actually put in here scanners, so I know it's a scanner, and we're gonna add some automations.
The first one, the first action that we're gonna add here, in this particular case, is a decision. Now notice, you could add these other actions here, but we don't want to. First thing that we need to do is we need to actually tell the bot to make a decision. Now because I'm gonna be doing this bot and setting it up so that it trades one particular ticker symbol, I don't need necessarily to add any other decisions that check for positions.
Let's say we want to set this bot up so that it trades multiple tickers inside of one bot. We don't want one particular ticker in this bot, so let's first add a decision that checks to see if the bot has any other positions of a certain ticker. Make sense?
So now what we're gonna do is we're gonna first check with this recipe here. Bot has exactly a certain number of positions open with a certain symbol. Now the goal being that we want to only make trades if we don't already have a position in the bot.
So let me just show you how this works, okay? I'll show you with a very simple symbol here, and then we'll create some custom inputs. So this first one that we're gonna add here, I know I'm fast, but I'll go back through. But the first decision here that we're gonna add is called bot has exactly 0 positions with, in this case, we just typed in SPY.
So we want the bot to first check and see if the bot has any positions with SPY. If the bot has exactly 0 positions, we wanna do all of our other decisions down the yes branch. Meaning we want it to start scanning for things; we want it to start looking at technicals. But if the bot has a position, we simply want the scanner to end, right? We simply want this scanner to end and not look for any additional decisions.
So we want the bot to check the existing position it has. So let me show you how to add this again, so we can go in here. I'll just delete it, and we can readd.
We go here to the plus icon. You go over to add an action which is a decision; then you add your list of decisions. Here we add the plus icon again, and we choose from this list of different actions. So right here, you see your list of decisions that you can use.
First, one that we're gonna include here is we're gonna include one all the way down here that says bot has exactly positions with a certain symbol. Now we can tell it exactly how many positions like does it have exactly one position, does it have more than one position, less than one position. I usually like to do exactly 0 positions if I don't want to double up on trades, which I don't want to do. If I'm gonna make a trade-in something, I only wanna trade long equity or short equity in the position using this bot.
The next thing that I'm gonna set is this field for the symbol. Here is where you can actually type in the actual symbol. You can choose the symbol, but that makes this field exactly for that particular symbol; SPY. We don't wanna do that. Instead, what we wanna do is we want to click on this field here which creates a custom input.
These are super, super powerful. If you have watched videos on doing this, I'm gonna do it here. I won't spend the whole time doing it like I did before on the videos, but if you go to add a custom input, what it does is it creates a variable field. This variable field allows us to change the ticker without having to go in here later and change the automation.
So now I'm gonna add an input. I'm gonna call this input ticker, or you can call it symbol, whatever you want. You can set a default value like SPY, and you can type in a short description if you want to. Now what I have is I have a variable field that I can change later on. So when I hit save, now instead of the symbol being hard typed in, hardcoded in, now I have this field called ticker. And when I save this to my automation list, notice over here on the left-hand-side it tracks the inputs that I have—one ticker, which is a symbol, and it's only being used once.
Now when I, later when I'll show you this later, now when you replicate this automation or use it other places, you don't have to go in here and change the ticker symbol. You can just swap up the variable that we'll use and set in a little bit. So now we've created this variable field called ticker.
Next thing that we wanna do is we wanna do all of our actions down the yes branch. So, in this case, what we're gonna do, like I said, is I don't wanna double up on positions. If I get a technical signal to buy, I just wanna buy. I don't want the bot to have more than one position in the same ticker. So only if the bot has 0 positions in the ticker, do I want it to continue to try to find a new position? If the bot already has a position, I want to go down the no branch and end.
So the next thing I'm gonna do, I'm gonna add another decision here. Once it crossed through this threshold of deciding if it has a position or not, then I want it to add another decision. And in this case, I want to check a technical indicator. So I go all the way down to the bottom, and I use this recipe here.
So this recipe here is for technical indicators. I can click on it, and again I can choose an exact symbol. I can type in, in this case, FXI. And then, if I go over the next field, that means that every single time this automation runs, it's going to use FXI. Now that is a, what I call like a hard typed in or hardcoded symbol. But do remember that we just created a ticker variable or custom input. So I can reuse that custom input now, which makes this thing really, really flexible.
So I go over here to the inputs, and because I already created an input for similar field called ticker, I can reuse that same ticker input. Now, later on, when I want to swap out the ticker, I swap it out in one place, and all of the places that use that ticker variable are now swapped out.
So now that ticker variable field is here and is now the two fields that I have here. The next thing I can do is I can set my values for RSI. In this case, let's just say that a 14 day RSI which is the default. So 14 day is the length period; these are the different length periods here right there. Then we can choose the technical indicator that we want to use.
Notice we have like ADX, CMO, MFI, MOM, ROC, CCI, etc., etc., okay? If you have a request for other indicator or other length, just add it to the wishlist. And now we choose whether the technical indicator or the ticker is above or the technical indicators value is above or below some metric, okay? Some metric.
In this case, we're gonna check and see if the 14 day RSI first is above some value. What's the common RSI value? Like 80, right? So we're gonna check and see if the 14 day RSI is above 80. That seem like a logical thing; if the 14 day RSI is above 80, that means that the ticker is really, really overbought, and we probably wanna do something else on it.
Now notice that here I typed in 80 again, right? Notice here I typed in 80. If I save this and I keep this here just like this, the 14 day ticker is above 80, and that's the only thing that I want this decision to do. Then as it reaches here, I only have one custom input I'm using.
So here, I only have one custom input; it's just the ticker symbol. Notice that custom input here, and I'm using the 14 day RSI reading above 80. Now, this is fine if you wanna do it this way. Now, this is where again you can choose to do this a particular way if you want to, or you can make this really, really flexible.
In this case, if I ever wanted to come back here and if I ever wanted to change this reading, I would have to go in here. It's not that hard to do, but you'd have to go in here, and you'd have to change this value to something else, like maybe I wanted to go to 75. And if I wanted to change that to 75, I'd have to through and resave everything, and now it changed to 75. Do you guys see that?
That's okay if you always know what those levels are gonna be. But if you wanted to make that field another variable that you set later and can swap out for different ticker symbols, then we can create a new custom input. Because here's the use case for this. Let's say you're trading SPY and you want a high RSI reading of 80, but when you trade TSLA, you want a high RSI reading of 90.
It wouldn't work that way because you'd have to go in here and physically change that for each of those ticker symbols. It's not really flexible when you type it in that way. You can if you want to, but not flexible.
So we're gonna create another custom input field, and we're gonna call this one "High RSI Level." And we're gonna set the default reading to 80, but we can change it if we want to and use that in different bots as we go, in different automations. So we create a new input just for this field, and now we have a new input called high RSI value.
Notice when I save this, I have a new input over here on the left. And now I can go in here, and I can change any of these default values or change any of these readings anytime that I want. And I can just save them right here. All the inputs are saved.
If the bot does not have any position with a certain ticker, it's gonna check and see if that ticker's 14 day RSI is above the high RSI level. And if it is, what do we wanna do? We wanna sell stock, right? So now we add another action, and now we are no longer ganna make more decisions. Now we're gonna open a position. And the position that we're gonna open is short equity. So we're gonna sell stock.
What symbol? Well, you can type in the symbol again, and you can say FXI, but then that means that every time this runs, it's gonna always trade on FXI, not as efficient. As if you were to go here and use that custom input that you already created. So because we already created a custom input called ticker, we can just reuse that. And now that same ticker symbol. Later, when we change, it flows through all the way through the automation, okay?
Last thing that we have to do is we have to set the amount. You can choose from the different recipes here. Oh man, I'm sneaking this one in here. We have a negative progression recipe coming soon. It's not out, just available for me and some other guys. It's coming soon. We're progressively increases or decreases risk based on consecutive losses or wins or whatever. Pretty sick, right?
But you can do anything in here. We'll just set this right now just to keep going, so we're staying on time at just one share. So whenever this ticker is really, really high, and RSI is above our high RSI level, we're gonna open one share of short equity. Super cool. And done.
So now the yes branches build-out. If we don't have any positions and if the 14 day RSI is above some high RSI reading, then it would open short equity. Now what we can do is we can test this logic right in here if we want to. We can use the ticker symbol. Notice our new inputs are here. And we can test this. We can say is SPY, RSI above 80, start a test.
So it goes down this list, and it goes nope, the high RSI reading is only 57 right now. So you can go back here, and you'd be like, all right, well I want to test it. So let's test and just see if it would run the test over 50. And notice when I ran it over 50, it says, "Yes, the high RSI reading cause I just arbitrary set for the test to be 50, then it flew through, and it would have opened short equity in SPY.
So you can test all of these logics right inside of your automations as you go. And the inputs are custom for this particular automation. But if you use this automation anywhere, then the input would changes to make those changes, right?
So now that we've tested out the yes path logic, right? Let's test out the no path logic. Let's start building that out.
So we still wanna do everything based off of this yes branch that's here, which is the bot doesn't have any existing positions. First, we wanna check and see if the ticker's 14 day RSI is above high level. If it's not, now we wanna check and see if the ticker's 14 day RSI is oversold, right? So we add another decision. We go to the yes or to the branch, we're gonna go down here and add another indicator, and we're gonna do the same thing just in reverse from this decision.
So the symbol, we don't wanna use the hardcoded symbol. We want to reuse that technical, that custom input. 14 day RSI now below is some value. So, in this case, we wanna set a new value. Again, you can type it in if you want to, but if you type it in, it's always gonna be that. Instead, let's create a new custom input.
Now you can reuse one of the other custom inputs, but we have one for high RSI levels. We don't wanna reuse that one, right? That one is for this one. We don't want the same reading on RSI to be used both places. So instead, we wanna create a low RSI level, and maybe we set this default to 20. Now we save, and now we have another custom input that is used in our list. Once we save that to our branch, notice how it just continues to build out our decision tree. So, let's follow the logic here.
This automation starts to run. The first thing that the bot is gonna do is it's gonna check and see if it has any position with this ticker symbol. If it has 0 positions, it will continue down the yes path. If it already has a position, it's gonna stop. It's not gonna do anything because it already got a position in. so it's not gonna add another position. It's not gonna do anything.
It's first gonna check and see if the RSI reading is overbought judging by our high RSI level. If it is, sell short equity. If it's not, check and see if the RSI reading is oversold. Make sense? Like this is what you do as you go through your automations as well in your mind. You do this in your mind. I just want you to get into a bot.
You're gonna check and see if the reading is overbought. If it's not overbought, check and see if it's oversold. So what do we do down the yes path if this ticker symbol is oversold? What's the next action that we're gonna add here? Long equity, right?
So now we add an action called open position, and we're not gonna reuse a recent one. We're gonna add a new one called long equity. Notice again we can type in the symbol, but as we've done before, we're gonna go ahead and reuse the same ticker input, and we're just gonna leave it at one share and then save.
So this is our scanner. Right now, our scanner is completely built out for this very, very simple bot. I'm assuming that you're trading pretty liquid tickers, but if you wanted to have some additional filters, you could use some opportunity filters to check for volume, checks some trends. On the left-hand side, you can see all the custom inputs that this bot is using.
So right now, we're using three custom inputs; a ticker symbol, which is being used five times. So it means when we make the change, and I'll show you here in the second where to set that. You don't have to change it five times. You just change it once.
So now what we wanna do is we want to just simply close out of this. We've edited this; we can simply closeout. Changes are saved as you go, and then we simply close out of this. Now when we're back to this screen to actually add that automation. Remember when we went here and created a new one?
Well, now that we're here, these custom inputs that we created show up. So this is where we set all of our values once. Just once, and then they flow through later on. So, in this case, we'll set SPY. We'll change this to a high RSI reading of 80 and a low RSI reading of 20, and then we'll hit save.
Now that adds the technical scanner to our list of scanners. The cool thing about this is now we can add multiple scanners to this bot if we wanted to and run them on other symbols. So let's add another scanner. So we go up here to our list. The bots are smart enough to recognize you already have one in this bot; you wanna readd this one? Well, yes, I do.
And now, I make all of the little tweaks and adjustments without having to recreate a brand-new automation. I'm using the framework of this automation that we build, and now I wanna make some changes. Maybe I change this to FXI. I reduce this to 65, and I increase this level to 25. Now when I save this, I have two different scanners going.
If I just hover over here, you can see that one of these scanners has these input values, and the other scanner has these input values. I'm reusing the exact same automation, but because I've used custom inputs, now I have the ability to make the little changes with the inputs.
If I ever wanted to get to one of these and just make a change, I just click on the row, like the automations are running right now during the day. Okay, so you click on it here, you can make these changes here and be on your way. So one change here, done. You wanna switch this? You wanna switch the ticker from SPY to GLD? Done. And that's why it's so powerful to use these because then you don't have to go in and edit the automation and go through all the ticker fields to make the change.
One automation we build, now we can add multiple scanners to our bots, right? We can add one that does EEM, and maybe we do like, I don't know, you know, 95 as a high reading and a low reading of 30. Like any little custom things that you do, you can do that.
At this point, to make sure we're all on the same page, we've added a bunch of scanners for different symbols and different technical indicators we're gonna check. You can add the same ones; you can add the different ones. I'm just showing you couple cool ways you can do it. So now this bot is checking three different stocks and making sure one that doesn't have overlapping positions. Because every time it runs, it first check and see if it has a position or not.
I'm not gonna turn on the bot yet cause we haven't fully built it out. Now what we do is we build monitor automations. So remember, this automation here, this scanner, eventually gets us to the point of opening a position. So it gets us to the point of opening a position, and we don't do anything after that.
Now what wanna do is we wanna build some monitor automations. Monitor automations tell the bot how to manage certain types of positions, and today we're gonna build two. Excuse me; we're gonna build two monitor automations; one for long equity and one for short equity, because they can be managed a little bit different and we're gonna do that.
To add a monitor automation, you go to the plus. You select from the drop-down list of automations in your library that you've saved. In this case, we're gonna build out a brand new one. We're gonna call this one "Long Stock Manager for Swing with RSI." Again, be as descriptive as you want with these, so you know exactly what they are. This is our long stock manager for swing trading with RSI. That's what it is.
In this case, we're gonna start with another action. Now when we do monitor automations, you can, if you want to, start with decisions. It is more typical that you start with repeaters. What repeaters do is repeaters go through and repeat, as the name suggests, through positions in the bot. So when I click on repeater, then it's gonna ask me what types of positions I want the bot to filter through.
I can filter through all positions in the bot if I wanted to and just keep it at any. Like any position the bot opens, send it through the logic that we're gonna build-out. However, in this case, I know I'm specifically building this monitor automation for long equity. So I'm gonna tell the bot, "Look, run this monitor automation only for positions that are long equity." So if I open a random iron condor, don't send it through this management technique, right? So I'm gonna choose long equity.
So this is how you typically start your monitor automations. Again, it's not how you have to start them, but it's how you typically start them. You tell the bot exactly what type of position you're managing if you wanna be very specific, and in this case, we do.
We tell the bot repeat through every long equity position the bot has, so this thing would not run this monitor automation if it had a bunch of short equity, or short call spreads, or short put spreads, okay? And again, it's only for this particular bot. But you can reuse this monitor automation in other bots if you want to.
The next thing that I want to do is I wanna add some decisions. Notice that when I add the decisions, now the choice for repeater is gone because we can't add repeaters back-to-back. It just loops itself into a crazy situation.
So what do you think a decision might be that you want the bot to check? Yes, repeater kinda stands for loop. So again, what decision might you want the bot to check when it's looking to manage a position. It's gotten into a long stock position; what would you do?
So you wanna know if the bot is making money like you want the bot to watch and see if it's reaching some profit target that you have. So let's first build out the action to check for a profit target. So we're gonna go down here to the list of decisions, and the one that we can use is one under positions.
So because we added the repeater, the bot can pull in the information from the position and every single position that it has opened and check to see if the premium went up. If the underlying position has a return greater than some value, right? We can do that here, a bunch of other things that we can check.
In this case, we're gonna go ahead, and we're gonna see if the position return is greater than, say, 5%. Does that sound good? So, the first thing that we're gonna use we're gonna link it to the position field. All we gotta do is just click here, and we don't have to add an input. We already have the input which is pulling in the information from this repeater.
The repeater is pulling in all the information for every position that we have. Then we're gonna choose the variable. We're gonna choose, in this case, the return. Notice you can check things like a specific dollar PnL if you want to, the maintenance acquirement, number of days that's been opened, the ask price, the delta, the market value. There's a lot of different ways you can do it, but in this case, we're gonna check the position return, and we're gonna see if the position return is greater than .5, which is 5%, okay? Actually, I think it's actually this way; .5, 5.0. Does that make sense?
Now when we save this, this is going to be the next or first real decision that this bot makes. Every time that we have a long equity position. As soon as the position is opened, the monitor automations start running, and it's gonna repeat through every long equity position individually. So if there's a position in SPY, it's gonna look through that one. There's a position in EEM; it's gonna look through that one. It's gonna check and see if the position return is greater than 5%.
For example, if the return is greater than 5%, what do you wanna do? So the next thing that you wanna do down the yes branch is close the position. What position? Well, the same position that we had linked to earlier in the repeater. So we save, okay?
When this automation runs, it's gonna look for only long equity. Check and see if the position return is greater than 5%. If the answer to that question is yes, it will close the position for you. And it's gonna check every 15 minutes as the bots are running through the day. That's awesome.
If the position return is not greater than 5% and it goes down the no path, what else could we check? I'll give you the answer. We can check and see if the technical indicator has gone the opposite direction. Maybe the technical indicator, although we're not making 5%, maybe the technical indicator has reached an overbought level. So, we could also check for that.
Notice that we don't have to type in the symbol; we can reference the symbol from each long equity position. There's already an input that's in here that says, "Hey, you want to reference this symbol that's already being pulled from each position? Great, we can do that." And we can check the 14 day RSI being above. In this case, we just add again our threshold some high RSI exit value.
So maybe if RSI is above 60, cause remember, we got into when RSI was super super super low, maybe if RSI is starting to go higher and we don't have a 5% return, then we can exit that position. So now we save this. And now we have another decision that it can make.
Every long equity position first is gonna check for a profit. If it has a profit, take it. Then it's gonna check and see if RSI is above some exit threshold. So to us now, what's gonna happen is we're gonna say like, "Hey, if we don't have a profit and if this other thing is true," meaning that RSI is now swapped and is the other direction, we might also want to exit the position.
So we add another action to exit if the statement is also true. Notice that there's multiple ways you can get out of the position. But if it doesn't have a 5% return and if RSI isn't above some exit threshold, then it's just simply going to end. And it's gonna just watch the position again at the next 15 minutes interval.
So this is how you build out your logic. You tell it when and where it would take positions off. This is really fun to do because you can build out all of the logic that you want the bot to go through, and you don't have to do any of this yourself. So let's test it, right?
So if we test this now, we only have one input which is our high exit value, and then we'll just start the test. Now, this isn't gonna run because we have no position. It's gonna say no positions were found. But if you had a position, if we force a position in, we can then test and monitor that position and run the test and see if our logical is true, right?
Don't worry yet; you can be able to clone this soon. So if you're falling behind on it, no worries, okay?
So this is all the logic that we want for this version of the long stock manager for swing trading with RSI. We have multiple exit points, and if we don't have a profit, and we're not really being challenged on RSI, then we do nothing; we just come back. And we just let the automation runs again later.
So I'm gonna close this out, you guys good with this? I'm gonna close this out. We're gonna set the high RSI exit value at 60 for this one, and we're just gonna hit save. Now we have a monitor automation that's in our list. But remember I said we're gonna build two monitor automations, right? We have one for long stock, but what are we missing? Short stock.
So now what we need to do is we need to build out a monitor automation for short stock. Now, this is where it gets really, really fun as you get into it. We could build this from scratch, but we're not going to. It's actually really easy to create a copy of the one that we just had here.
So I'm gonna add another monitor automation; just click this little plus icon here. And then I'm gonna go to the drop-down list and notice that this bot has some automations in here. I can edit the automation, which means I physically change it, or I can do this, which is create a copy. So instead of rebuilding everything like we just did, because most of it's built out and we just wanna change some things for short stock position, I can create a copy.
So now I create a copy, the name adds the same name. It just adds copy, and I can make some changes now. So now what I do is I take off the copy, and I say "Short Stock Manager." And then, I can go through, and I can make some changes that are appropriate for short stock position.
So check this out. I go here, and I change this to what? Instead of just looking for just long stock, I look for what? Short stock. So I swap this out for short equity. Done. I go here to this value, and instead of a high RSI value, now what I wanna do is I wanna create a different input for this, and I wanna call this one because I made a copy; I can just name it something different. I can do "Low RSI Exit Value." And again, you set a default that you want to be in there, in case you forget, as 30 or whatever it is. And then I save. And now I'm completely done.
I don't use this high RSI value; it came over from the copy, so if I don't want it in here, and I want to clean up this. I can just simply delete this from my list. It came over in the copy, don't need it, don't want it, and I can clean it up if I want to. When we have short stock, now we're gonna go through, and we're gonna say, is the return greater than 5%?
Still gonna check the position return. It knows that it's a short stock position, right? It's smart enough to do that. And if it is, it's gonna close the position. If it's not, it's gonna check and see if RSI is now on the opposite direction for short stock and is it below some exit threshold on RSI, and if it is, then close. Then you're good to go.
Everything is autosaved as you go along. So you just close out of this. Reconfirm your inputs, and now click save. This is so so so sweet. Now you have two monitor automations running—one for long stock and one for short stock.
So when we turn on this bot, and we start letting it run, the monitor automations just wait until there's a position available. If there's only long stock available to enter into, and the bot only enters long stock. Well, the short stock manager just sits in dormant, waiting for short stock to come on. If the bot only enters short stock, then the long stock manager just sits around and waits for positions to come on. If the bot has no positions at all, the only thing that will run on the next 15 minutes interval is just the scanners looking for positions, and both monitors just wait for a position to monitor.
So we've got three different scanners looking at three different technicals for three different indicators, right? And then you have your two monitor automations. Now you don't need to make a new monitor for every ticker symbol or every position. The monitors are smart enough to manage all types of positions in the bot. You just have to tell it which one or which types this particular bot is managing.
So when we go in here, and we say repeat through long equity. Notice that if you're trading other bots, you could do, like look at all my long call spread positions. Look at all my short call spreads positions or long puts. You can do them broken out into different types of positions because you might manage them differently.
For example, let me jump over here and show you this one—the honey badger, which I've shared in the community a number of times. The honey badger has three different monitor automations. Call spread, put spread, and then an iron condor with smart stops. Because I wanna manage those different ways. I don't wanna manage everything exactly the same, okay? I don't wanna manage everything exactly the same.
So let me go here and just go back to my monitor automations. These are my high RSI values and exit values.
I think that's what somebody would say when you hover over them. They don't show SPY; they show any inputs for the monitors.
Let me show you how to share this in the community. Really really easy to do. You go up here to the top, gear icon. I'm gonna make one change here. I'm gonna add more position limits to my particular bot. I gave it three different stocks that it can get into, so I wanna increase the limits to three so that it can do more of those.
Somebody could probably create a stop-loss version of this and share it in the community, but I know we're running short on time, so I won't do this and this. But I know somebody can do that as part of theirs and give a little upvote from everybody else from doing that, right?
But to share this to the community, you just have to save it as a template. When you save something as a template in Option Alpha, it strips away the position history the trade history because you can't do that. We can't share your trade history and your position history. We can just share the raw template with people.
So I'll just put in here a little short description; technical swing trading with RSI from bot workshop, okay? You can set some limits here, you can do your changes, and then you save. You can view the template. Again, the template is just a version of yours that you had without all of your personal information and position history and quantities, and things like that, which we can't share.
Now you can just share this right into the community. You can share from here, or you can attach it to a post. This is bot workshop, and we'll do technical swing trading for stocks, just so you guys see this, right? Let's share some bots!
And I'm gonna share the first one here. I'm gonna add my template, Kirk's Technical Swing Bot, and then I'll create. I can view the post. The post is now in there; there it is. So create different versions of it. Create alternate ways of doing it, like do something, like, whatever you wanna do. It doesn't have to be crazy. It could be simple; it could be intuitive; you could check some volume and volatility stuff if you want to. There's a lot you can do with these. But you can create your own clone or version of this and then make adjustments as you go.
So if you miss any of this today, you couldn't follow along, or go behind a little bit on it, then you can save this immediately to your library and use this version and make your own adjustments and tweaks as you go.
I think that pretty much wraps up. If you guys have any other questions, please let us know. Hit up our team. We're super excited to be jumping back in and doing this. These bot workshops are something that I have dreamt about doing for a really, really long time. So hopefully, it was helpful. If you have any other additional feedback, you can always shoot us an email team@optionalpha.
You can shoot me an email, post a message in the community if you got some feedback on it. You can add feedback to this bot workshop or here for me as well and tell me what you love, what you didn't like, and how we can improve it. We're gonna be doing this weekly, so be on the lookout for the next one. We'll send out emails when we'll raise schedule those—best of luck. Thank you, guys, so much, and girls, and gals, for joining. Really appreciate it. Have a great rest of your Thursday, and until next time, happy trading.