How To Automate Options Trading On Charles Schwab

Are you tired of manually managing your options trades and watching the markets all day? Automating your trading can be a game-changer, allowing you to consistently generate income while freeing up your time. With TastyTrade and the Options Auto Trader, you can automate your options trading strategy without sacrificing control or profitability.

1. Creating a Schwab Account

If you don’t already have a Schwab account, don’t worry — it’s quick and easy to get started.

• Step 1: Go to the Schwab website and click the “Open an Account” button.
• Step 2: Complete the sign-up form by entering your personal details, including your name, email address, and phone number. You’ll also need to provide financial information to get approved for options trading.
• Step 3: After submitting your application, Schwab will verify your information. Once approved, you’ll be able to deposit funds into your account and begin trading.

With your account set up and funded, you’re ready for the next step — connecting Schwab to the Options Auto Trader.

2. Connecting Schwab to the Options Auto Trader

To automate your Schwab options trading, you’ll need to connect your Schwab account to the Options Auto Trader platform. This process is straightforward and secure using OAuth, a trusted method for authorizing connections.

Here’s how to connect your Schwab account to Options Auto Trader:

• Step 1: Log in to your Options Auto Trader dashboard.
• Step 2: Navigate to the “Account Settings” and select the option to connect a brokerage account.
• Step 3: Choose Schwab from the list of supported brokerages.
• Step 4: You will be redirected to Schwab’s login page. Enter your Schwab credentials, and authorize the connection to the Options Auto Trader.
• Step 5: Once authorized, your Schwab account will be linked, and Options Auto Trader will be able to place trades on your behalf based on the rules you set.

Now that your accounts are connected, it’s time to create your first automated options trading bot.

3. Creating Your First Schwab Options Bot

One of the best features of Options Auto Trader is the ability to create options bots that follow your custom strategy. Here’s a step-by-step guide to building your first bot.

• Step 1: Go to the “Bots” section in the Options Auto Trader dashboard and click “Create New Bot.”
• Step 2: Choose the type of strategy you want to automate, such as selling covered calls, iron condors, or other popular options selling strategies.
• Step 3: Set your bot’s parameters, including the underlying asset, strike prices, expiration dates, and risk management rules like stop losses and profit targets.
• Step 4: Configure your bot’s trading schedule. You can specify how often it should check the markets, when to open trades, and how much capital (or buying power) to allocate to each trade.
• Step 5: After reviewing your settings, click “Activate” to launch your bot. It will start running and trading based on your rules without further manual intervention.

With your first bot live, you’ll be able to monitor its performance, make adjustments as needed, and sit back while the automation handles the rest.

Get Started With Options Auto Trader Today!

Ready to take the next step? Start your 30-day trial of the Options Auto Trader today and see how easy it is to automate your Schwab options strategy. Sign up now and experience the freedom of automated trading!