Steve's Autotrading Journey #5: Manually Adding Positions to my Trade Ideas Bot

optionalpha.com - This video I manually open a Trade Ideas position and add it to my existing automated bot. With volatility low and premiums down, the bot hasn't opened many positions, so I want to show you how I find high probability trades using Trade Ideas.
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🔗 Links:
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🎯Best performing Exit Option profit-taking levels: • Video
💡Automated Options Trading #18: Why "No Trade Ideas Found" Is A Good Thing: • Automated Options Trad...
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[@richydubz4302]

I would love the video on managing that position that’s deep ITM!

[@OptionAlpha]

Great, thanks for the feedback. I'll do that one next!

[@wmbrice]

Thanks, Steve. That's a great way to expand utilization of Trade Ideas and benefit from the automated exit options and monitors so that you don't have to babysit the trade. So many cool things at OA.

[@OptionAlpha]

I agree! Best of both worlds. Once the vol picks up again I'm sure the bot will start opening more positions again. But I want to get some trades in until then, and I feel confident knowing I'm using the same high probability, positive expectancy setups.

[@seanju4751]

Hi Steve, majority of my trades opened with 70% PMP or higher & 65% POP or higher struggles to even hit 20-40% profit target so I was curious to see what your result would be based on 85% profit taking. Are you going to stick with 40% profit taking and not go with 85%?

[@OptionAlpha]

Hi Sean. Good question. My original intent was to try higher profit targets, but after seeing Jack's video and the data I decided to stick with 40%.

[@penzput]

Is there a way you can note or see that this position was manually opened vs the bot auto-opening it?

[@OptionAlpha]

For sure, Pen. I think the easiest way is to just tag the position 'Manual' or something similar. Good idea!