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AutoTrader FAQ Guide Love Simba(Will be added to throughout week and posted again Friday)Q: I’m a boomer. What is this AutoTrader thing anyway? A: The AutoTrader is essentially a live account being controlled by the team here at Simba Stocks. You deposit funds into your own account then create an account on our autotrading site that controls and copies our trades to your own account. As of now it isn’t algorithm controlled but may be in the future.Q: What broker do I need for the AutoTrader? A: We have chosen as our preferred broker for the autotrader. We are working on getting another soon, but for now please make an account using them. Also you can try EOption or AutoShares if for some reason you can't do IB.Q: What is the minimum deposit for the AutoTrader? A: Each strategy has a recommended amount to start which you can view directly when you pick your strategy. We will start with $10,000 as a basis and create more minimums over the next weeks. See below example of how you will view these strategies. Q: What is the fee for the AutoTrader? A: Each strategy has its own fee which you can view here and then purchase on our website. Also the autotrader itself has a $49 monthly fee or $390 annual fee, that we don’t keep at all, which you can view below. This is built in to our pricing, so if you see a strategy that costs $350 for instance we factor in that you have to pay $49 a month so really it’s $400. Q: How quickly does the AutoTrader process orders? A: Orders are placed within half a second of the ones that we place. Q: Can I adjust my own stops and risk? A: AutoTrading permissions are based solely off the trader's experience, trading style, and the level of risk he is willing to take. We cannot advise on which settings are best for any trader. However, we CAN?explain what each feature within the AutoTrade setup wizard does.DETAILS BELOW IN DEPTH:You will be presented with the following fields in the?AutoTrade configuration?wizard:1.1. AutoTrade This?(important): The instruments that the strategy?trades: Check off the AutoTrade This box for the instruments you want to trade.1.2??Max Trade Size?(optional): Enter the max amount of contracts/lots/$ amount. The max amount is applied per symbol, per position for the strategy.?2-?Stop Loss?(optional): Automatically have the same stop loss $ amount applied to?every position?for this particular strategy.3-?AutoTrading Scaling?(defaults to 100%, maximum=500%): Enter a percentage for?how closely you want to follow the strategy.With scaling set at 100%, you will follow the exact quantity of?the strategy. For?example, if the scaling is set to 100% and the strategy opens a position of 2 contracts of $SHOP, we will send a signal to open a position for 2 contracts of $SHOP in your account. If you set the scaling to 50%, that will mean that we send 50% of each position to your brokerage account and so on (more examples below).?We don't look at how much you have in your brokerage account, we simply send the corresponding signal to your brokerage account based off the strategy and your scaling (and other AutoTrading configurations)?Example: scaling is set at 50% and the strategy enters a trade for 7 contracts, we would send a trade signal to your brokerage account for 3 contracts. We?do not round up?because that would exceed your configurations.Example:?scaling is set at 50% and the strategy enters a trade for 1 contract, we would?NOT?send a trade signal to your brokerage account. We?do not round up?because that would exceed your configurations.?4-?Join Trades in Progress?You can decide whether or not you want to join positions that the strategy had previously opened.?Confirm your choices and click the Turn on AutoTrade button.More questions will be answered soon. Please dm Brett on Slack with them or email us at info@simbastocks.io if you have any questions !!!! ................
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