Wanted to share preliminary results of my 0 DTE SPY butterfly Auto Trader

Steve G

Steve G

Active member
Hello All - I have traded this 0 DTE trading bot for over 1 year in paper and really likes it's results so started trading it in SPY 2 weeks ago and thought I would share my LIVE trading results. This bot OPENS, adjusts and closes all trades without my intervention at all - I don't even need to have my computer on. Of course you ALWAYS to monitor and check in on any auto trading program and this is my 2 week checkin:

 
Kobus said:
Wow that's awesome, well done. Did you build it through Option Alpha?
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To be clear, this is NOT a bot that I built, it was one shared by one of the thousands of traders sharing their bots on the platform, I simply cloned and paper traded it for a period of time until I was comfortable with it and then took it live. This bot as well as hundreds of others are shared and ranked in the community for others to clone and modify as they see fit. https://optionalpha.com
 
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Steve G said:
To be clear, this is NOT a bot that I built, it was one shared by one of the thousands of traders sharing their bots on the platform, I simply cloned and paper traded it for a period of time until I was comfortable with it and then took it live. This bot as well as hundreds of others are shared and ranked in the community for others to clone and modify as they see fit. https://optionalpha.com
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Just checking in for an update: 'still using this bot? daily? much monitoring? it sounds like you recommend it? win/loss working well? (thanks!!!)
 
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Norm - great to hear from here. I just did an update video on this for some my students and put it on Youtube and you can check it out here:
 
Steve G said:
Norm - great to hear from here. I just did an update video on this for some my students and put it on Youtube and you can check it out here:
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Steve, What is OptionAlpha's capability regarding automated trading of short butterflies? I.e. -1 +2 -1. I checked with their support, and they indicated that no, the short butterfly is not a supported strategy, however I would be able to accomplish the same thing by setting two trades up and somehow linking them together, i.e. sell a strangle and buy a straddle. Do you think this would work well. I am looking for something that would trade the short butterfly at the end of the day, entering if the credit exceeded a certain amount, exiting if it could be bought back at a specified amount (basically doing Scot Ruble's short butterfly trade in an automated fashion). Thanks.
 
JerseyJIm said:
Steve, What is OptionAlpha's capability regarding automated trading of short butterflies? I.e. -1 +2 -1. I checked with their support, and they indicated that no, the short butterfly is not a supported strategy, however I would be able to accomplish the same thing by setting two trades up and somehow linking them together, i.e. sell a strangle and buy a straddle. Do you think this would work well. I am looking for something that would trade the short butterfly at the end of the day, entering if the credit exceeded a certain amount, exiting if it could be bought back at a specified amount (basically doing Scot Ruble's short butterfly trade in an automated fashion). Thanks.
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I am not very good at all of the details of using Bot Logic when you stray from the basic operations - BUT, I absolutely think this could be done by opening 2 separate spreads and then using "Bot Level P&L" to monitor the trade for when to close it. Bottom line, this link will give a free trial - and they also have a great community of people that can likely help you with your plan as well: https://optionalpha.com/
 
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Steve G said:
I am not very good at all of the details of using Bot Logic when you stray from the basic operations - BUT, I absolutely think this could be done by opening 2 separate spreads and then using "Bot Level P&L" to monitor the trade for when to close it. Bottom line, this link will give a free trial - and they also have a great community of people that can likely help you with your plan as well: https://optionalpha.com/
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Thanks Steve, I may give it a shot in the new year.
 
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Steve G said:
I am not very good at all of the details of using Bot Logic when you stray from the basic operations - BUT, I absolutely think this could be done by opening 2 separate spreads and then using "Bot Level P&L" to monitor the trade for when to close it. Bottom line, this link will give a free trial - and they also have a great community of people that can likely help you with your plan as well: https://optionalpha.com/
Click to expand...
JerseyJIm said:
Steve, What is OptionAlpha's capability regarding automated trading of short butterflies? I.e. -1 +2 -1. I checked with their support, and they indicated that no, the short butterfly is not a supported strategy, however I would be able to accomplish the same thing by setting two trades up and somehow linking them together, i.e. sell a strangle and buy a straddle. Do you think this would work well. I am looking for something that would trade the short butterfly at the end of the day, entering if the credit exceeded a certain amount, exiting if it could be bought back at a specified amount (basically doing Scot Ruble's short butterfly trade in an automated fashion). Thanks.
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Also, Option Alpha cannot do Index Options with strike steps of 5, so you'd have to do this with XSP (and multiply everything by 10). So: I've added an account at Tradier with zero commissions.
 
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