Building Your First Bot

A comprehensive guide to creating and testing your first trading bot

Understanding Bot Components

Every RelayDesk bot has four main components:

• Signal Connection - What triggers the bot
• Entry Configuration - How to enter trades
• Exit Strategy - When to close positions
• Risk Controls - Limits to protect your account

Entry Configuration

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• Symbol - The ticker to trade (e.g., SPY, AAPL)
• Direction - Long, Short, or Both
• Position Size - Number of contracts or dollar amount
• Order Type - Market or Limit
• Entry Time Window - Only trade during specific hours

Exit Strategy

Set up your OCO (One-Cancels-Other) exit levels:

• Take Profit Levels - Up to 3 levels (TP1, TP2, TP3)
• Stop Loss - Maximum loss percentage
• Trailing Stop - Optional trailing stop after TPs
• Time Stop - Optional time-based exit
• Move to Breakeven - Auto-adjust stop after first TP

Risk Controls

• Daily Loss Cap - Maximum daily loss before bot pauses
• Max Spread - Reject trades with wide bid-ask spreads
• Position Limits - Maximum contracts/dollars per trade
• Max Open Positions - Limit concurrent trades

Testing Your Bot

Before going live:

• Use Paper Trading mode for at least 1-2 weeks
• Test with your actual TradingView alerts
• Verify entries execute at expected prices
• Confirm exits trigger correctly
• Check that risk limits work as intended
• Review trade logs and analytics