Link: https://app.optionsautotrader.com/create-auto-trader?strategy=Ready%20Steady%20Retire
In this guide, you’ll learn how to use the Ready, Steady, Retire bot, a 120 DTE strategy designed for long-term, consistent options trading. The bot automates short put trades with a hedge, offering a high win rate and low volatility risk. You’ll find step-by-step instructions on setting up the bot, configuring trading parameters, managing profits, and risk, as well as best practices for paper trading before live use.
The Ready, Steady, Retire bot is a 120 DTE (Days to Expiration) 111 strategy that involves a short put with a hedge attached.
This is a long-term, low-volatility risk strategy, ideal for consistent, profitable trading.
The bot has an 83% win rate.
The average win is around $1,100, and the average loss is about $1,500.
The time in trade is about 78 days, making it a longer-term strategy.
Due to the bot's long-term nature, it's recommended to start with paper trading to fully understand how it works.
Even with solid backtested data, past performance is not a guarantee of future results.
To start using the bot, click "Start Using This Bot" to automate the process of entering and exiting trades.
The bot will handle the entry and exit for you once set up.
The bot works on Futures (ES) or SPY depending on your account's capabilities.
Set the bot to trade every Friday, with the following parameters:
Buy a 25 delta put.
Sell a 10 delta put with a $25 strike offset.
This creates a short put with a hedge for added safety.
The bot has a 50% take-profit rule.
You can set the bot to exit early at 21 DTE if desired, or let the trade run to collect more credit.
Define how much money you want to allocate to each trade, and the bot will handle the execution accordingly.
Although the bot is automated, it's important to monitor your account periodically to ensure everything is functioning as expected.
While the bot has a high win rate, ensure you do your own due diligence and consider the risk management strategies in place, especially the long duration of the trades.
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.
