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. In this guide, you'll learn how to navigate and adjust key settings within the AutoTrader.
Open the AutoTrader interface. Ensure you're in the correct AutoTrader you wish to modify or review.
Once you select a symbol for your AutoTrader, it’s permanent. The symbol cannot be changed later.
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
You can create a new AutoTrader or delete the existing one if needed.
Choose the number of days until expiration for the options trade (e.g., 45, 50, 90, or 120 days).
The AutoTrader will calculate the expiration date based on the current date and the number of days you input.
It selects the closest expiration date in either direction (higher or lower) from the current date.
Delta indicates how far the current market price is from the strike price.
A higher Delta means you're closer to the current market price, while a lower Delta is further away.
For lower risk and higher win rates, select a smaller Delta. A 25 Delta has a 75% win rate, while a 5 Delta offers about a 95% win rate.
If you’re new to options trading, it’s recommended to keep the default Delta for better success.
Adjust the quantity of contracts you want to trade.
The first button allows you to increase or decrease the number of contracts. For example, set it to trade multiple contracts (e.g., three 112s) or just one contract.
View the Profit and Loss graph to understand the trade's potential outcomes.
The graph shows what the profit will look like at expiration based on the selected strategy (e.g., a 112 strategy may show a bear trap pattern with profit potential on the upside).
Once you’ve made the necessary changes to your trade details, review everything carefully.
Save the changes to your AutoTrader or proceed to execute the strategy based on your configuration.
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.
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.
