What You'll Learn
- ✓Understand how a community signal becomes an order in your account
- ✓Know which decisions stay with you
- ✓Know the risks before you start
Your community already posts trade calls. RelayDesk can place those calls for you in your own brokerage account, within limits you set. This lesson covers what happens between a call and a fill, and which decisions stay with you.
What happens when your community posts a call
- Your community's analyst posts a call, and RelayDesk receives it as a signal.
- RelayDesk checks the signal against your bot's rules, such as your position size, daily loss cap, entry window and Skip Days.
- If the signal passes, RelayDesk places the order in your broker account. If it doesn't, RelayDesk skips it and records the reason.
- You can review every signal and its outcome in Signal History.
What stays in your control
- Your money stays in your own Alpaca, Tradier or Public.com account. RelayDesk doesn't hold your funds.
- You decide which signals your bots follow, and you can pause any bot at any time.
- Your risk caps apply to every order, no matter what the signal says.
- Every new bot can run in paper mode first, so you can watch it work before real money is involved.
Your next four steps
The rest of this path takes about 20 minutes.
- Activate your member access by connecting the Discord account that holds your community membership.
- Connect your broker in paper mode, so your first trades are simulated.
- Create a bot that follows your community's signals on paper.
- Set your risk caps before any real money is involved.
Know the risks
Automated trading carries risk, including the loss of money you invest. A community's past calls do not guarantee future results. Paper results can also differ from live results, because paper fills assume your order executes at the quoted price.
Key Takeaways
- ●Your funds stay in your own broker account
- ●Your risk caps apply to every order, whatever the signal says
- ●Signal History records every signal and what happened to it