Getting Started

Note: Broker setup is covered at the end of this page— this must be enabled before a strategy will automate.

This page has a step-by-step for setting up a sample automation strategy. Additionally, Automation Bootcamp on Option Omega Academy has been designed as visual companion to the written docs. It is beneficial for a user to have a keen grasp on both backtesting and strategies, and a familiarity with the information in both Backtesting Bootcamp and Automation Bootcamp.

Strategies can be created by the user one of two ways: from scratch, or from the user's backtests.

Let's look at creating from a backtest.

Start by clicking "Test=>Tests", and bringing up a saved backtest. You'll now notice a big purple button that says "Created Automated Strategy". If you select this, a new window will appear that auto populates certain values based on the backtest.

The first thing to note is the "Is Active" button. This is off by default. You can create and edit strategies. To automate them, this button will have to be selected.

You can name, describe and tag your strategy. You will also need to link to a brokerage account for it to be automated (more on that later).

Instead of stepping through even single variable, let's look at some key things that are unique to the strategy creation screen.

Under funds and allocations, the user must select one of three different allocation types: percentage, fixed value, or fixed quantity. This is a setup differently in the backtest (where you can have multiple limiters).

Other key things to review are the PT and SL Order Types, as well as Trade Management.

Also, you'll want to take a look at the Execution Parameters at the bottom. You can setup the price increment and speed interval of how aggressive you want the automation tool to enter and exit trades. Additionally, you can "Add Exit Execution Overrides" if you want a certain exit condition to function more or less aggressively.

Lastly, to setup a broker, you'll want to go to settings (upper right), and the trading. You can add a broker, as well as configure email alerts there.

If you try to launch a strategy before you have setup the broker, the platform will not function properly.