E*Trade Broker Guide

This guide will help you set up an E*TRADE account, connect it to Options Auto Trader, and create your first trading bot. Please note that E*TRADE only supports stock and index options, and you will need a margin account to fully utilize the auto trader features.

Step 1: Create an E*TRADE Account

To use Options Auto Trader with E*TRADE, you'll first need to create an E*TRADE account and ensure it’s set up as a margin account. Follow these steps:

How to Create an E*TRADE Account:

1. Visit the E*TRADE website.
2. Click on Open an Account in the top-right corner of the page.
3. Follow the on-screen instructions to provide your personal information and complete the registration process.
4. During account setup, be sure to select a Margin Account to enable options trading with Options Auto Trader.
5. Submit your application and complete any additional verification processes required by E*TRADE.

Important Note:

• Make sure to select a margin account during the registration process. A cash-only account will not provide full functionality for automated options trading.

Step 2: Connect Your E*TRADE Account to Options Auto Trader

Once your E*TRADE account is fully set up and approved, you can connect it to Options Auto Trader. This connection allows the platform to execute trades on your behalf automatically.

How to Connect Your E*TRADE Account:

1. Log into your Options Auto Trader account.
2. Click on your profile image in the top-right corner of the page.
3. From the dropdown menu, select Connect My Broker.
4. Find E*TRADE in the list of supported brokers and click the Create Connection button next to it.
5. You will be redirected to ETRADE’s secure login page. Log in with your ETRADE credentials to authorize the connection.
6. Once the connection is authorized, you will be redirected back to Options Auto Trader, and your E*TRADE account will be successfully linked.

Troubleshooting Connection Issues:

• Double-check that your E*TRADE account is fully approved and that you’ve selected a margin account.
• Ensure that your login credentials are correct. If the connection fails, try again or contact our support team for assistance.

Step 3: Create Your First Trading Bot

Once your E*TRADE account is connected, you’re ready to set up your first trading bot using Options Auto Trader.

How to Create Your First Bot:

1. Navigate to the Auto Trader page within your account.
2. Click Create New Auto Trader to begin configuring your bot.

3. Choose the strategy you want to automate. Popular strategies include credit spreads, covered calls, and iron condors. Keep in mind that E*TRADE only supports stock and index options.

   Customize your bot’s settings, including:

   • Strike Selection: Choose how your bot selects option strikes (e.g., delta, $ OTM, % OTM).
   • Entry Times: Define specific times for the bot to enter trades (morning, lunch, afternoon, or a custom time).
   • Buying Power Allocation: Set the amount of buying power your bot can use to manage trades.
   • Exit Rules: Configure your take profit, stop loss, and other risk management settings to automate trade exits.
4. Once your bot’s settings are configured, click Save to activate your bot.

Monitoring and Adjusting Your Bot:

Once your bot is live, you can monitor its performance in the Dashboard. If needed, you can make adjustments to the bot’s settings at any time to optimize your strategy.

Conclusion

Setting up your E*TRADE account and connecting it to Options Auto Trader is a straightforward process that allows you to automate your options trading with ease. Make sure to create a margin account, as E*TRADE only supports stock and index options with this account type.

If you encounter any issues during the setup process or have questions about creating your first bot, our support team is here to help.