Trade Details For Auto Trader Explained

The objective of this video is to help you in setting the trade details in order to properly structure a trade (delta, quantity, days until expiration, and symbol) for the Auto Trader.

Key Steps:

1. Symbol: Choose the symbol for the trade. This cannot be changed once set. The available symbols are:
   • ES Futures
   • MES Futures
   • CL Futures
   • GC
   • QZB
   • SPX (index)
   • Spy
   • DIA
   • GLD
   • TLC
2. Days Until Expiration: Determine how far out in the future you want the trade to be. Select the number of days until expiration from the available options (e.g., 45 days, 50 days, 20 days, 90 days, 120 days). The Auto Trader will find the expiration date closest to the specified number of days.
3. Delta: Choose the Delta value to indicate how far away from the market you want the trade to be. The Delta ranges from 1 (furthest away) to 50 (closest to the market). A smaller Delta when selling options reduces risk and increases the chance of making a profit. By default, the strategy is pre-loaded with the best Delta setting for success. If you are new to trading options, it is recommended to stick with the default Delta value.
4. Quantity: Determine the quantity of the trade. Use the available buttons to increase or decrease the size of the trade. The first button is the only one accessible for increasing the trade size. Adjust the quantity as needed.

Cautionary Notes:

• Ensure that the symbol chosen is correct, as it cannot be changed once set.
• Be mindful of the expiration date and select the appropriate number of days until expiration.
• Understand the risk associated with the chosen Delta value and adjust it accordingly.
• Double-check the quantity of the trade to ensure it is accurate.

Tips for Efficiency:

• Familiarize yourself with the available symbols and their corresponding trade details.
• Consider the desired timeframe for the trade when selecting the number of days until expiration.
• Evaluate the risk and win rate associated with different Delta values before making a decision.
• Use the available buttons to quickly adjust the quantity of the trade as needed.

TERMS OF SERVICE: Please be aware that continued use of the Options Auto Trader is subject to our Terms Of Service. If you have any questions or wish to review these terms, feel free to visit the website.