In this guide, you'll learn how to create and automate a 1-1-2 trading strategy bot. It covers the step-by-step process, including selecting assets, setting expiration times, picking strike prices, adjusting deltas, and configuring entry and exit rules. You'll also explore advanced options like hedging strategies and how to allocate the necessary buying power for your trades.
Click on the "Dashboard" option to begin the process.
Click on "Create an AutoTrader" to start setting up your bot.
Click on "Create an AutoTrader" again, then choose the "1-1-2" option to define your risk strategy.
Select the asset you want to trade. Ensure you've connected a broker that supports futures if necessary.
Pick the expiration time for your options, or convert this into a calendar setup if desired.
Choose your strike prices based on delta. Adjust the strike offset for a customized spread width.
Set the delta for the two options you want to sell as part of the 1-1-2 strategy.
Decide how often and when you want the bot to enter trades (e.g., weekly or multiple times a week).
Use advanced settings to base entries on indicators or trend lines, and integrate TradingView if needed.
Once you’re satisfied with your setup, click "Save and Continue" to proceed.
Define exit rules for take profit, stop loss, and early closure conditions.
Optionally, convert the 1-1-2 strategy into a hedge by closing short puts at take profit.
Set the required buying power (e.g., $10,000 for one trade or more for multiple trades).
Double-check your settings to ensure everything is correctly configured.
Tick the box to authorize the bot to automate your trades.
Click "Save AutoTrader" to complete the process and activate your 1-1-2 bot.
Now your automated 1-1-2 bot is set up and ready to go!
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