The Trade Preview Tool helps you understand how your auto trader will execute trades, what strike prices it will select, and how much buying power your broker will require. Follow these steps to access and use the tool.
Step 1: Navigate to Your Auto Trader
Log in to your dashboard.
Locate the auto trader you want to preview.
Click on the auto trader name (e.g., "Strangle").
Step 2: Open Trade Preview Settings
On the auto trader page, find the settings icon (gear icon) in the top right-hand corner.
Click on the gear icon to open the settings menu.
Scroll down until you see the "Trade Preview" section.
Step 3: Generate Trade Preview
Click the Generate Trade Preview button.
The system will process your trade rules and generate a preview.
This process may take some time depending on complexity.
Once complete, the trade preview will display all trade details in a structured chart.
Step 4: Review Trade Preview Details
The trade preview provides key trade execution details:
Strike Price: The selected strike price.
Action: Sell to open or buy to open.
Type: Call or put.
Expiration Date: The chosen expiration date.
Option Price: The price per option.
Total Trade Price: The total cost of the trade.
Buying Power Required: The amount of buying power your broker requires for the trade.
Step 5: Verify Trade Settings
Check if the automation rules and strategy details match your intended trade setup.
Confirm that the expiration and strike prices align with your trading plan.
Ensure you have sufficient buying power in your account.
Example: If the preview shows a buying power requirement of $5,472, it is recommended to have at least $6,000 available.
The Trade Preview Tool is a valuable feature that ensures your auto trader is set up correctly before execution. By following these steps, you can verify your trade parameters and avoid potential issues with broker requirements.
Use this tool to confidently manage your automated trades! If you have any questions, refer to our support team for further assistance.
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.