The objective of this video is to show you how to set the entry requirements for the auto trader. This guide walks you through setting up the entry requirements for your auto trader, including how to specify the frequency of trades, preferred time of day for entries, and minimum credit or profit targets. It also covers optional advanced settings like entering trades on red days and using Trade View webhooks for advanced entries and exits.
Step 1: Set Trade Frequency
Decide how often you want the auto trader to enter a trade.
Select one of the following:
Every day: The auto trader will enter a trade every day.
Specific days: Choose any combination of days (e.g., Monday, Wednesday, Friday).
Once a week: Select a specific day of the week (e.g., Wednesday).
Every two weeks or once a month: Set these options as needed.
Step 2: Set the Trade Session
Choose the time of day for entering the trade:
Any session: The trade can enter at any time during the day.
Morning session: 8 a.m. to 11 a.m. Central Standard Time.
Lunch session: 11 a.m. to 1 p.m. Central Standard Time.
Afternoon session: 1 p.m. to 3 p.m. Central Standard Time.
Step 3: Show Advanced Settings (Optional)
Red day entry: If you want to enter a trade only when the market is down (a "red" day), enable this setting.
Set the session to afternoon if you want the auto trader to enter the trade later in the day when the market is red, preventing early morning entries.
Step 4: Set Minimum Required Credit per Trade
Define the minimum credit you want to collect per trade (e.g., $1 for an iron condor trade).
The trade will only be entered if it meets or exceeds your credit target.
Step 5: Set Minimum Required Profit per Trade
Specify the minimum profit you want per trade (e.g., $1,000).
The auto trader will not place a trade unless the potential profit can meet your specified amount. This is based on the maximum profit of the trade, not the take profit level.
Step 6: Enable Trade View Webhook (Optional)
If you want to use advanced entries or exit settings with Trade View, enable the webhook setting.
This step is optional and may require additional setup (a separate video tutorial may be available).
Step 7: Final Review
Review all the settings you've configured (frequency, session, credit/profit targets, advanced settings).
Once satisfied, save your settings.
Cautionary Notes:
Ensure that the settings are accurately configured to align with the desired trading strategy.
Double-check the selected days, sessions, and other parameters before proceeding.
Be cautious when using advanced settings, as they may require additional knowledge and expertise.
Tips for Efficiency:
Use the "Enter a trade every" setting to specify the desired trading frequency.
Select the appropriate session in the "Enter a session" setting to determine the time of day for trade entry.
Only enable advanced settings if necessary and ensure they are properly configured.
Set minimum required credit and profit per trade to meet specific targets.
Enable trade view webhooks if advanced entries and exit settings are required.
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.