I just ran across this video and want to thank you for sharing how to automate my trading capabilities. Great job! The information was clear, well presented, and to the point. I have subscribed and will check out your other TOS videos. Thanks again!
Hey! Just wanted to say that your video is awesome. Most of these videos on youtube are overly complicated and do not explain why your doing what you do. I am a developer myself and feel 100 confident that I can make and tweak my bot now that I have the basics down thanks to you. I'm actually surprised the views are less then 25K
Also do you know how to get the program to stop overwrite your Order and Strategy Book settings? Everytime I attempt to add Sell or Buy table it will overwrite the tables that already exist. I had to rewatch this video 20 times because once I got done and tried to add a new sell table it deleted my previous ones.
Thanks for taking the time to give helpful tips. Maybe I missed it in the video but, how does the order know which timeframe to watch the bollinger bands? The intraday, and day+ run different bands.
This was the first video of yours I have come across. It is really well done. You have a great way of explaining what you are doing and why. I have a question: Let's say I wanted to do everything you did for the BBands, but instead of adding oversold RSI, what if you wanted to create a situation where an index (or index tracking ETF) is oversold? In this example, lets say I wanted to buy Twitter when oversold AND the SPX (or SPY) is oversold?
THKS, THAT WAS A NICELY EXPLAINED INSTRUCTIONAL VIDEO. APPRECIATED THE FACT YOU DIDN'T TRY TO SELL A VIDEO, BUT ACTUALLY EXPLAINED IN TO TEACH. GOOD JOB.
Excellent video! I do a lot of day trading with TOS and I'm stuck at the computer continually watching specific stocks for a break out. I have been watching videos on automated trading for TOS and yours are very informative and easy to understand! Thanks!
Hey brother, you referred to it as a robot, but once this is executed it’s done until you go back in and put the trade back on again right? Is there a way to create an actual bot that will execute the trade over and over without you needing to do anything?
Hi @kobiamoo , thank you so much for sharing this robot! I just set it up for testing and really excited to see it in action. But I have a question: how does the robot know which timeframe I would like it to use? I am trying my 15mins but I do not see any indication of it. Would you please help? Thank you in advance!
Kobina, at the 10:15 mark of this video, your pricing goes from LMT GTC to market. Is that why this bot doesn't work for those of us following at home? There's no mention of that. Please explain. Thank you!
But if I am correct, this isn't perpetual. Meaning, once you place your order and both the buy and sell conditions are met, you have to manually reset the OCO order to have it do it again for that stop. Please correct me if I am wrong. Still learning TOS.
Informative video but I think I saw a flaw in your setup..You created a buy order , with a stop loss based on your auto criteria.However, if all the criteria is not met, a buy order will not happen but you also created a sell order to exit the buy order if the order had been filled..If the buy order was not executed, you would end up getting filled on the sell order and not have a stop in place should the price continue higher..since you are doing a stock trade, would the sell order only execute if it is a sell short order? for a futures traded one need not specify sell short as a sell order will make it one..Correct me if I am wrong or not executing it right.Thank you
This is good info! I was considering programming buy and sell with MACD crosses, but I never considered using the bid / ask price with Bollinger Bands and RSI. Your method would seem to be more profitable.
Thank you for the education really appreciate it. New trader here tryin to learn. Dumb question how do I use the bot to buy stocks. Sorry about that I’m just a newbie. Thank you again
hi Kobina, is this possible to customize the Sell limit is +14% of the buy limit and stop is at 0.7% of the buy limit. the order table to should the price and the % is behind the scene? everytime i buy stock, this is my standard setting. thanks
Howdy and grand rising. Great content in your videos. When I try to run this particular automated trade, it enters a trade even though the TTM squeeze conditions aren't met.
If you have $30,000 in your trading account and you want the bot to automatically use 13% of your $30,000? Also how do you calculate so that bot know exactly how much of a stock can be bought with 13% of $30,000?
I have 3 trades set up using this method but they are not executing. It's been 3 days and I see plenty of places where they should have executed. I'm talking about the buy.
Can this set up also be used for it to continuously trade those rules say for 1 day from market open to market close? For example let’s say your conditions are met on the low RSI 3 times in the day not just once, could it be set up to make 3 trades for you? Or input 1? Thank you 🙏🏽
I followed all step by step instructions, but at the end when you define stop loss....I do not have anything to click on to change to percent and input -5.00. Not sure if its because I am in simulated trading to just try it.
I had some questions on this video. can I get ahold of you some how? I had some applicational questions on how this would work with my specific situation.
Thanks for sharing! You mentioned setting this up as a perpetual strategy. When I've created these orders, the condition goes away with the order, when conditions are met. How do you configure to take additional orders each time the conditions are met?
Didn't work for me. Something must be off in the formula. It didn't buy, and then with it hit the sell price, it didn't sell. It just sits there waiting for conditions of some kind.
did you test in OnDemand on historical data? because OnDemand has some limitations. for example, hot keys do not work in OnDemand. you might have to test during market hours in PaperMoney
when time change ,price change when you condition meets , but it will still buy the same limit price? what if it hit lowband and rsi30 but the price is already higher than your original limit price?
Hi, quick question. I did everything you did in the tutorial and place the order, but it did not trigger when it reached the values. Do you why can this happen?Thank you!
Same here. Hit the buy trigger but I see nothing bought. Now waiting for a break-through I guess to see if both triggers need to be set before completing? Not sure on this. Help from Kobina would be nice.
As demonstrated, it has performed well for me, but it can be improved further by combining with additional indicators (eg. Buying requires that 50 day moving average > 200 day moving average). It’s important to test, backrest, and journal different variations of your strategy
During the video at 10:09 the Link column says "TRG" then it changed with the video time lapse. It reappears 10:16 at changes to "LAST" which is right, and what does that mean? Why?
I'll try to explain. In TOS order window (green or red in the small window that appear at bottom of screen) when you make an entry in a box and click on next item in the order window, it can reset your input the previous boxes. So you just have to go back and make sure all the entries are showing in the boxes the way you want. For some reason that's how their system is set up. if you forget to take a quick look at all the entries before submitting your order, you might be sending an order with an error without knowing it. Maybe that's what you are seeing in the video. The box must have reset the previous entry automatically when he clicked next box. I hope i understood your question.
Hi, first of all, thank you so much for this video. I am lack of discipline when it comes to securing my profits - greedy :-( so this is a God sent for me. My question is, can we use a specific timeframe to set that up, or does it go by the default timeframe which is the daily? I use the hourly timeframe a lot. Thank you so very much?
I followed your instructions to a tee, and I'm getting errors. There were some significant changes made to this bot after 10:10 in the video. First, your prices are set to LIMIT, then after the time-lapse they change to MARKET. Further, if you look at the trade confirmation dialog, you have changed your prices from ASK to LOW/HIGH respectively, and you have also changed the values on the RSI portion of the order. Some BIG changes were made and you did not clarify what they were. I think it would be helpful if you either explained this, or made a new video. Thanks very much!
Hey Sean. Thanks for your comment. So there actually isn’t a time lapse there. When you click on the icon to the left of the screen to change the sell order from 100 shares to 100 percent, the edits youre referring to are made automatically by the thinkorswim app. Feel free to reach out to me on Facebook (Kobina Amoo) if you’re still having issues
Interesting. I often wondered if TOS could actually do this and save my time at the screen. My question is whether in a down market, the price at the upper BB band could actually be lower at the sell time than the lower BB band at the buy time. Of course that would be quite a unique scenarios where the stock would move sideways. But I guess that the stop loss could take care of that.
time to learn use your MCD but add the VolumAcumulation and Watch U can see when the MCD is showing a BUY some cases the Volumacumulations go's neg and the Bars are Green .your idea is a good start . U need a multi-pal time and strategy that has a correlation on the BUY sig at the same moment in time . never finished High school but experience ( RULES ) ALL . trading 56 Years . need any idea's please ask .
did you test in OnDemand on historical data? because OnDemand has some limitations. for example, hot keys do not work in OnDemand. you might have to test during market hours in PaperMoney
question has to do with the link to function on the "buy" portion? is it null and void in regards to the stipulations? Also, could it be set up to cease functon after 3 trades a week and start after?
Despite what he says in the video, this aspect of think-or-swim can not and will not continuously place trades for you. It will however execute one in&out trade so if you don’t want to watch the screen this could be for you but it definitely will not day-trade for you
This robot will buy accumulative all day long if the oversold is only met at end of day and eventually sell %100. So you better have enough account. Now if you make a SELL custom version for shorting you had better check if you have shares or you could plummet deep into a margin call.
This bot will only work for once unlike other bots that trade everytime the condition is satisfied. Technically, it's not a bot since it can't repeat the tasks and need constant manual intervention
@@Schleicher970 On this video is making an EA. But it's on NinjaTrader then connect to Thinkorswim. You have to pay for it. ua-cam.com/video/mzTrevRvIU4/v-deo.html I know how to code EA for MT4/5 not Thinkorswim. But I know it's possible.
Nice instructions for a conditions-based trade, but it should be noted that once the trade setup is submitted, it is a ONE and DONE transaction. You will have to MANUALLY restart the trade using your saved conditions each time you want to setup a new trade with the same conditions. It's not really a trading bot. TOS will not automatically place a new trade with your specific conditions in the queue once your trade completes. This a major shortcoming in TOS. Also, GTC means 'Good Till Cancelled' and OCO means 'One Cancels Other'.
Another great video but I'm still for the notion that experience can gain you consistent profit in a long run than bots.
I also tried trading independently for 4 months, I have used different bots and I am yet to yield profits can you assist me in anyway?
If you are still new to trading you can always get a tutor, don't rush it.
Ben Fraser what trading pattern do you use? do you trade live?
These so called bots do not even help you make enough profits
Matt Robinson I am under CONS. Edwin Earl supervision and I rely on his experience and his trading pattern to make me consistent profit .
I looked over this again very nice. You are a very patient teacher. Really good.
Just getting started with Thinkorswim platform. Great video!!! Easy to follow instructions. Your calm, intelligent demeanor helped greatly!!!
I just ran across this video and want to thank you for sharing how to automate my trading capabilities. Great job! The information was clear, well presented, and to the point.
I have subscribed and will check out your other TOS videos. Thanks again!
Kobina, Thank you for the walk through on how to setup trading bot.
Hey! Just wanted to say that your video is awesome. Most of these videos on youtube are overly complicated and do not explain why your doing what you do. I am a developer myself and feel 100 confident that I can make and tweak my bot now that I have the basics down thanks to you. I'm actually surprised the views are less then 25K
Also do you know how to get the program to stop overwrite your Order and Strategy Book settings? Everytime I attempt to add Sell or Buy table it will overwrite the tables that already exist. I had to rewatch this video 20 times because once I got done and tried to add a new sell table it deleted my previous ones.
This channel is a hidden gem
Thanks for taking the time to give helpful tips. Maybe I missed it in the video but, how does the order know which timeframe to watch the bollinger bands? The intraday, and day+ run different bands.
Nice explained. Thank you. Do you have a similar presentation on creating Options trading BOTs?
This was the first video of yours I have come across. It is really well done. You have a great way of explaining what you are doing and why. I have a question: Let's say I wanted to do everything you did for the BBands, but instead of adding oversold RSI, what if you wanted to create a situation where an index (or index tracking ETF) is oversold? In this example, lets say I wanted to buy Twitter when oversold AND the SPX (or SPY) is oversold?
Thank you so much Kobina, man this will free me up quite a bit!!
So do I need to know what the setting of the Bollinger band should be for this to work
Damn, that was awesome. I didn’t know TOS could do this.
Awesome video! Thank you so much for doing this and posting it.
Thank you. Does this need to be reset daily after filling?
Yes this is really good. Thank you very good teacher.
THKS, THAT WAS A NICELY EXPLAINED INSTRUCTIONAL VIDEO. APPRECIATED THE FACT YOU DIDN'T TRY TO SELL A VIDEO, BUT ACTUALLY EXPLAINED IN TO TEACH. GOOD JOB.
Excellent video! Easy to understand. Thank you for sharing. ✌🏻
This seems very logical. Is there a way to view bot performance, separate from stocks i am holding
Excellent video! I do a lot of day trading with TOS and I'm stuck at the computer continually watching specific stocks for a break out. I have been watching videos on automated trading for TOS and yours are very informative and easy to understand! Thanks!
Are you still profitable day trading?
Great video. Always wanted to expand my TOS knowledge to this area. So, do you have a video showing a back test report on this strategy/bot?
Use his Buy/Sell conditions and create a TOS Strategy. Strategies can even create P&L reports.
Nice work
Hey brother, you referred to it as a robot, but once this is executed it’s done until you go back in and put the trade back on again right?
Is there a way to create an actual bot that will execute the trade over and over without you needing to do anything?
Hi @kobiamoo , thank you so much for sharing this robot! I just set it up for testing and really excited to see it in action. But I have a question: how does the robot know which timeframe I would like it to use? I am trying my 15mins but I do not see any indication of it. Would you please help? Thank you in advance!
Never mind, I found where to specify the timeframe - thank you for sharing!
Wow 🤩. Thanks for the video
How can I get in touch with you to get your help in creating a BOT in thinkorswim satisfying my specific trading criteria?
Thanks
Very helpful info. Will be useful.
Excellent. More, please.
Will it work for forex day trading, and if it does can I set it to work for a week at a time
How can you LOAD an already saved order from the saved order template!!! can't figure that out
but the quantity need to be changed based on SL to keep loss same. how do u let it calculate quantity ?
THANK YOU FOR HELPING ME YOU ARE SO CLEAR
Why did you change TRG to LAST and order to MARK on the STP?
Nice job
HI, Will this work on ETFs such as SPY?
Kobina, at the 10:15 mark of this video, your pricing goes from LMT GTC to market. Is that why this bot doesn't work for those of us following at home? There's no mention of that. Please explain. Thank you!
But if I am correct, this isn't perpetual. Meaning, once you place your order and both the buy and sell conditions are met, you have to manually reset the OCO order to have it do it again for that stop. Please correct me if I am wrong. Still learning TOS.
that is correct
Nice job! Thanks!
Great information! I will test this out. Have you ever ran into any issues or glitches with this setup?
Informative video but I think I saw a flaw in your setup..You created a buy order , with a stop loss based on your auto criteria.However, if all the criteria is not met, a buy order will not happen but you also created a sell order to exit the buy order if the order had been filled..If the buy order was not executed, you would end up getting filled on the sell order and not have a stop in place should the price continue higher..since you are doing a stock trade, would the sell order only execute if it is a sell short order? for a futures traded one need not specify sell short as a sell order will make it one..Correct me if I am wrong or not executing it right.Thank you
Excellent video! 👊🏾
I like this idea,but have you done an analysis on several trades to see how profitable this is as far as if its worth it?
Can this be done with options? And can you do test it paper trading first? Thanks
This is good info! I was considering programming buy and sell with MACD crosses, but I never considered using the bid / ask price with Bollinger Bands and RSI. Your method would seem to be more profitable.
this is not a trading Bot but just an automatic trade .
Thank you for the education really appreciate it. New trader here tryin to learn. Dumb question how do I use the bot to buy stocks. Sorry about that I’m just a newbie. Thank you again
very useful and actionable info, thank you
hi Kobina, is this possible to customize the Sell limit is +14% of the buy limit and stop is at 0.7% of the buy limit. the order table to should the price and the % is behind the scene? everytime i buy stock, this is my standard setting. thanks
Thank you this video is just the video i was looking for🤝📈
Can you do another video demonstration with the Moving averages too please?
Howdy and grand rising. Great content in your videos. When I try to run this particular automated trade, it enters a trade even though the TTM squeeze conditions aren't met.
If you have $30,000 in your trading account and you want the bot to automatically use 13% of your $30,000?
Also how do you calculate so that bot know exactly how much of a stock can be bought with 13% of $30,000?
EXCELLENT SIR
I have 3 trades set up using this method but they are not executing. It's been 3 days and I see plenty of places where they should have executed. I'm talking about the buy.
how do i do this but if i have the code on thinkscript
Sir this is good content thank you.
I think as of today, TOS updated and you can't set this up cause no matter what I try I can't get the conditions to pop up below the "or"
Trading robot in thinkorswim for trading Put options??
Amoo I notice at the end you change your order to Market??? So I’m confused now
how think or swim is so complicated? omg so many things need to do to activate the bot
This is amazing! Have you also tried MACD indicator together with bands and RSI ?
Can this set up also be used for it to continuously trade those rules say for 1 day from market open to market close? For example let’s say your conditions are met on the low RSI 3 times in the day not just once, could it be set up to make 3 trades for you? Or input 1? Thank you 🙏🏽
no. that is automated trading. for that you need something like NinjaTrader
Why at marker 10:15 does it go from "Limit" to "Market"?
I think I found my learning voice with you! Can this be put into play with trading options ?
I back tested this on SPY but for some reason it didn't work.
Why not set a trailing sell condition that way you don't lose your gains
I followed all step by step instructions, but at the end when you define stop loss....I do not have anything to click on to change to percent and input -5.00. Not sure if its because I am in simulated trading to just try it.
I had to find it. Click the little 'link' picture bottom on that line, and you will see where you can add percentages.
Can I use this one for option trading?
I back tested this on SPY and for some reason it didn't work. Not sure why.
I had some questions on this video. can I get ahold of you some how? I had some applicational questions on how this would work with my specific situation.
Great video... Thanks!!
Thanks for sharing! You mentioned setting this up as a perpetual strategy. When I've created these orders, the condition goes away with the order, when conditions are met. How do you configure to take additional orders each time the conditions are met?
So you can’t set it up perpetually unfortunately. You have to set it up again after the selling condition is met
@@kobiamoo Thanks for your videos! After creating a template, how do I load it again and apply it to a different stock?
@@kobiamoo But I believe you can add up to 9 round trips in one Order set.
Didn't work for me. Something must be off in the formula. It didn't buy, and then with it hit the sell price, it didn't sell. It just sits there waiting for conditions of some kind.
did you test in OnDemand on historical data? because OnDemand has some limitations. for example, hot keys do not work in OnDemand. you might have to test during market hours in PaperMoney
when time change ,price change when you condition meets , but it will still buy the same limit price? what if it hit lowband and rsi30 but the price is already higher than your original limit price?
With this setup, It must hit both conditions in order to buy.
Great advice!
Thank you so much for explaining that I greatly appreciate it.
Hi, quick question. I did everything you did in the tutorial and place the order, but it did not trigger when it reached the values. Do you why can this happen?Thank you!
Shame he didn't reply. I'd love to know the answer.
Same here. Hit the buy trigger but I see nothing bought. Now waiting for a break-through I guess to see if both triggers need to be set before completing? Not sure on this. Help from Kobina would be nice.
Hey OP, what kind of results have you had with this strategy
As demonstrated, it has performed well for me, but it can be improved further by combining with additional indicators (eg. Buying requires that 50 day moving average > 200 day moving average). It’s important to test, backrest, and journal different variations of your strategy
During the video at 10:09 the Link column says "TRG" then it changed with the video time lapse. It reappears 10:16 at changes to "LAST" which is right, and what does that mean? Why?
To be honest, I'm not 100% sure.
I'll try to explain. In TOS order window (green or red in the small window that appear at bottom of screen) when you make an entry in a box and click on next item in the order window, it can reset your input the previous boxes. So you just have to go back and make sure all the entries are showing in the boxes the way you want. For some reason that's how their system is set up. if you forget to take a quick look at all the entries before submitting your order, you might be sending an order with an error without knowing it. Maybe that's what you are seeing in the video. The box must have reset the previous entry automatically when he clicked next box. I hope i understood your question.
What Bot automated software do you use ?
I do everything within Thinkorswim’s software
Just a comment, GTC means 'good till cancel'
Hi, first of all, thank you so much for this video. I am lack of discipline when it comes to securing my profits - greedy :-( so this is a God sent for me. My question is, can we use a specific timeframe to set that up, or does it go by the default timeframe which is the daily? I use the hourly timeframe a lot. Thank you so very much?
Just seeing this question. Yea, you can change the timeframes for your studies/triggers
I followed your instructions to a tee, and I'm getting errors. There were some significant changes made to this bot after 10:10 in the video. First, your prices are set to LIMIT, then after the time-lapse they change to MARKET. Further, if you look at the trade confirmation dialog, you have changed your prices from ASK to LOW/HIGH respectively, and you have also changed the values on the RSI portion of the order. Some BIG changes were made and you did not clarify what they were. I think it would be helpful if you either explained this, or made a new video. Thanks very much!
Hey Sean. Thanks for your comment. So there actually isn’t a time lapse there. When you click on the icon to the left of the screen to change the sell order from 100 shares to 100 percent, the edits youre referring to are made automatically by the thinkorswim app. Feel free to reach out to me on Facebook (Kobina Amoo) if you’re still having issues
@@kobiamoo I watched your ticker. There was a lapse of 3 minutes when you made substantial changes to the order.
Interesting. I often wondered if TOS could actually do this and save my time at the screen. My question is whether in a down market, the price at the upper BB band could actually be lower at the sell time than the lower BB band at the buy time. Of course that would be quite a unique scenarios where the stock would move sideways. But I guess that the stop loss could take care of that.
time to learn use your MCD but add the VolumAcumulation and Watch U can see when the MCD is showing a BUY some cases the Volumacumulations go's neg and the Bars are Green .your idea is a good start . U need a multi-pal time and strategy that has a correlation on the BUY sig at the same moment in time . never finished High school but experience ( RULES ) ALL . trading 56 Years . need any idea's please ask .
Excellent man. Looking for that for several month how to do this.
Amoo thank U, Will try it today and keep you up to dare, ICLN is doing good,
You are the MAN.
great great video thank you
didnt work for me. Tried backtest but it just sit there waiting for conditions ... forever, even the conditions met.
did you test in OnDemand on historical data? because OnDemand has some limitations. for example, hot keys do not work in OnDemand. you might have to test during market hours in PaperMoney
question has to do with the link to function on the "buy" portion? is it null and void in regards to the stipulations? Also, could it be set up to cease functon after 3 trades a week and start after?
But this is just one order not a continuous bot
Despite what he says in the video, this aspect of think-or-swim can not and will not continuously place trades for you. It will however execute one in&out trade so if you don’t want to watch the screen this could be for you but it definitely will not day-trade for you
Are those bots really real? Really good?
thanks man!
this is french to me . we need a bot that will make decisions to buy whatever stock it thinks i should buy based on anylitical data.
OCO - One Cancels the Other (not Order Cancels Order), and GTC is Good Till Cancelled (not Good Till Close).
This should not be called "Trading Robot". They are just normal trading orders with study as condition.
This robot will buy accumulative all day long if the oversold is only met at end of day and eventually sell %100. So you better have enough account.
Now if you make a SELL custom version for shorting you had better check if you have shares or you could plummet deep into a margin call.
This bot will only work for once unlike other bots that trade everytime the condition is satisfied. Technically, it's not a bot since it can't repeat the tasks and need constant manual intervention
That's a script not a Robot. It doesn't trade all the time. just once.
do you know a way to make it buy again after the conditions are met the next time instead of just once?
@@Schleicher970
On this video is making an EA. But it's on NinjaTrader then connect to Thinkorswim. You have to pay for it.
ua-cam.com/video/mzTrevRvIU4/v-deo.html
I know how to code EA for MT4/5 not Thinkorswim. But I know it's possible.
Nice instructions for a conditions-based trade, but it should be noted that once the trade setup is submitted, it is a ONE and DONE transaction. You will have to MANUALLY restart the trade using your saved conditions each time you want to setup a new trade with the same conditions. It's not really a trading bot. TOS will not automatically place a new trade with your specific conditions in the queue once your trade completes. This a major shortcoming in TOS. Also, GTC means 'Good Till Cancelled' and OCO means 'One Cancels Other'.
don't do it....no short cuts