When setting up an auto trader in Options Auto Trader, it's important to ensure that your strategy works as expected before using real money. While our platform does not currently offer a built-in backtesting feature, there are several options available to help you test your strategies effectively.
Step 1: Use Third-Party Backtesting Software
Although backtesting is not available directly in Options Auto Trader, you can use external tools like EdeltaPro or OptionOmega to backtest your strategies before automating them. These platforms offer comprehensive backtesting tools that allow you to simulate your strategy using historical data.
Why Use EdeltaPro or OptionOmega?
Extensive Backtesting Tools: Both platforms offer advanced features to test a wide variety of strategies against past market data.
Compatibility: Our platform supports 99% of the settings available in these tools, allowing you to easily automate almost anything you backtest.
Refining Your Strategy: By using backtesting, you can fine-tune your strategy and identify potential issues before going live.
How It Works:
Backtest in EdeltaPro or OptionOmega: Create and test your options strategies using the historical data provided by these platforms.
Automate in Options Auto Trader: Once you've fine-tuned your strategy, set up your auto trader with the same settings and let it execute your strategy automatically.
Step 2: Use Our Free Paper Trading Account
In addition to external backtesting, Options Auto Trader provides a free paper trading account, allowing you to simulate live trading without risking real money. This is an excellent way to test your strategies in real-time conditions before using them with actual funds.
How Paper Trading Works:
No Risk: Since it's a simulated environment, you can practice and experiment with your strategies without the fear of losing money.
Real Market Conditions: Paper trading uses live market data, giving you a realistic experience of how your strategy would perform in the current market.
Free Access: The paper trading account is free to use, making it a perfect testing ground for your strategies.
How to Set Up Paper Trading:
Log into your Options Auto Trader account.
Navigate to the Broker Connection page.
Select Create Paper Trading Account to start testing your strategies without real money.
Conclusion
While Options Auto Trader does not currently offer backtesting directly, you have two excellent options to test your strategies:
Use EdeltaPro or OptionOmega for historical backtesting, then automate your strategy in our platform.
Take advantage of our free paper trading account to test your strategy in real-time market conditions before risking real capital.
If you have any questions or need further assistance with setting up your paper trading account or automating strategies from backtesting platforms, feel free to contact our support team.
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.