How To Automate Options Trading On TastyTrade
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.
Why Automate Your TastyTrade Options Trading?
Automating your options trading has several key benefits:
- Save time: No more staring at charts all day. Automation handles everything while you focus on other activities.
- Consistency: Options bots follow predefined rules, helping you avoid emotional decisions and stick to your strategy.
- Risk management: Automatically control risk through built-in safeguards that limit your losses and protect your capital.
- Hands-off income: Let the software do the heavy lifting, so you can enjoy passive income with less effort.
Now, let’s dive into how you can set up your TastyTrade account and automate your trades using the Options Auto Trader.
1. Creating a TastyTrade Account
If you don’t already have a TastyTrade account, don’t worry — it’s quick and easy to get started.
- Step 1: Go to the TastyTrade 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, TastyTrade 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 TastyTrade to the Options Auto Trader.
2. Connecting TastyTrade to the Options Auto Trader
To automate your TastyTrade options trading, you’ll need to connect your TastyTrade 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 TastyTrade 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 TastyTrade from the list of supported brokerages.
- Step 4: You will be redirected to TastyTrade’s login page. Enter your TastyTrade credentials, and authorize the connection to the Options Auto Trader.
- Step 5: Once authorized, your TastyTrade 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 TastyTrade 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? Join the Options Auto Trader today and see how easy it is to automate your TastyTrade options strategy. Sign up now and experience the freedom of automated trading!
Thanks for reading :)
Austin Bouley
Founder of the Options Auto Trader
