Frequently Asked Questions
Get answers to common questions about our platform, strategies, and trading process
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General Questions
Senex Trader is an automated platform that uses sophisticated algorithms to generate systematic options trading suggestions. We specialize in iron condor and put spread strategies, analyzing market conditions to identify optimal entry opportunities.
The platform integrates directly with TastyTrade for seamless execution, but you maintain full control - no trades are executed without your explicit approval.
No, we never execute trades without your approval. We are not a money management service or robo-advisor.
Here's how it works:
- Our algorithm analyzes market conditions and generates trade suggestions
- You review each suggestion with full details including risk and reward
- You choose to approve or reject each trade
- Only approved trades are executed through your TastyTrade account
You maintain complete control over your trading decisions at all times.
We offer transparent pricing with no hidden fees:
Free Trial
$0
30 days
- Paper trading
- 5 suggestions/month
- Basic analytics
Professional
$99
per month
- Live trading
- Unlimited suggestions
- Advanced analytics
- Priority support
Enterprise
$199
per month
- Multiple accounts
- Custom parameters
- API access
- Dedicated support
Note: You also pay standard brokerage commissions to TastyTrade for trade execution.
We recommend a minimum of $25,000 for optimal strategy performance, though you can start with smaller amounts:
- $10,000 - $25,000: Limited strategies, smaller position sizes
- $25,000 - $50,000: Full strategy access with moderate sizing
- $50,000+: Optimal performance with full diversification
The platform automatically adjusts position sizes based on your account value to maintain appropriate risk levels.
Platform Questions
Connecting your TastyTrade account is secure and straightforward:
- Go to Settings → Accounts in your dashboard
- Click "Connect TastyTrade Account"
- Enter your TastyTrade username and password
- Test the connection to verify it's working
Don't have a TastyTrade account? You can sign up here. We recommend starting with their paper trading feature to test our strategies.
Yes! You can use many features without connecting a live account:
- Strategy Analysis: View all strategy explanations and market analysis
- Paper Trading: Test strategies with simulated trades using real market data
- Education: Access tutorials, guides, and strategy documentation
- Backtesting: Review historical performance data
This makes it perfect for learning and testing before committing real capital.
The algorithm analyzes market conditions throughout each trading day, but suggestions are generated based on opportunity, not schedule:
Typical Frequency:
- Normal Markets: 2-4 suggestions per week
- Volatile Markets: 1-2 suggestions per week
- Range-Bound: May skip trading for days
Quality Over Quantity:
- Only trades when conditions meet our criteria
- Avoids overtrading in choppy markets
- Focuses on high-probability setups
We have multiple safeguards in place:
During Trade Execution:
- All orders are sent directly to TastyTrade's servers
- Once submitted, orders execute independently of our platform
- You can always access your positions directly through TastyTrade
Profit Target Management:
- Profit target orders are placed immediately after main trade execution
- These orders persist even if our platform is offline
- TastyTrade's systems continue to manage your orders
Strategy Questions
Iron Condor + Extra Put Spread
Structure: 2 put spreads + 1 call spread
Market View: Range-bound to moderately bullish
Risk/Reward: Balanced income generation
When Used: Normal market conditions
Put Spread Only
Structure: 2 put spreads only
Market View: Bullish (oversold bounce)
Risk/Reward: Higher upside potential
When Used: Near lower Bollinger Band
The platform automatically selects the optimal strategy based on current market conditions using our intelligent scoring system.
Our intelligent system uses a sophisticated scoring algorithm to determine optimal strategy selection:
Put Spread Activation Score (50+ points triggers):
| Condition | Points | Weight |
|---|---|---|
| Near Lower Bollinger Band | 40 | Primary |
| Market Stress (3+ day decline) | 25 | High |
| Large Downward Move (>1%) | 20 | Medium |
| Near Support Level | 15 | Medium |
| 30+ Minutes After Open | 10 | Low |
Decision Logic: If score ≥ 50, use Put Spreads. Otherwise, use Iron Condor strategy for normal conditions.
The even/odd strike system is a key innovation that provides several benefits:
How It Works:
- Short Strikes: Always even numbers (e.g., 380, 382, 384)
- Spread Widths: Always odd numbers (e.g., 3, 5, 7, 9)
Key Benefits:
- Prevents Conflicts: Multiple positions can coexist without strike overlap
- Scalability: Allows continuous trading as markets move
- Risk Management: Clear separation between different positions
- Profit Optimization: Maximizes opportunities without interference
Our backtesting results show strong performance, but remember that past results don't guarantee future performance:
144.7%
Annual Return (Backtest)
75%
Win Rate
1.8
Sharpe Ratio
-8.5%
Max Drawdown
Important Disclaimers
- Backtesting results are based on historical data and do not guarantee future performance
- Actual results may vary due to market conditions, execution timing, and individual account differences
- Options trading involves significant risk and is not suitable for all investors
Risk Questions
Key Risks to Understand
Market Risks:
- Options Decay: Time works against long option positions
- Volatility Risk: Sudden market moves can cause losses
- Liquidity Risk: Difficulty closing positions in volatile markets
- Assignment Risk: Early assignment on short options
Systematic Risks:
- Model Risk: Algorithm may not perform as expected
- Technology Risk: Platform or connectivity issues
- Execution Risk: Slippage and timing differences
- Concentration Risk: Focus on QQQ options only
Maximum Loss: Each trade has a defined maximum loss equal to the spread width × 100 × number of spreads.
Per-Trade Maximum Loss:
| Account Size | Spread Width | Iron Condor Max Loss | Put Spread Max Loss |
|---|---|---|---|
| < $25K | $3 | $900 (3 spreads) | $600 (2 spreads) |
| $25K - $50K | $5 | $1,500 | $1,000 |
| $50K - $75K | $7 | $2,100 | $1,400 |
| $75K+ | $9 | $2,700 | $1,800 |
Account Risk Limits:
- Normal Markets: Maximum 60% of account at risk
- Stressed Markets: Maximum 80% of account at risk
- Hard Stop: Never exceed your configured risk tolerance
No, we provide no guarantees on trading performance. This is important to understand:
What We DON'T Guarantee:
- Profits or positive returns
- Win rates or success percentages
- Specific dollar amounts
- Protection against losses
What We DO Provide:
- Transparent methodology
- Historical backtesting data
- Consistent application of rules
- Full control over your trades
Legal Disclaimer
Options trading involves substantial risk and is not suitable for all investors. Past performance does not guarantee future results. You could lose some or all of your invested capital.
Technical Questions
We have several built-in protections for extreme market conditions:
Automatic Safeguards:
- Range-Bound Detection: Skips trading during choppy conditions
- Volatility Monitoring: Adjusts position sizing based on VIX levels
- Time-Based Exits: Closes positions before expiration
- Risk Limits: Never exceeds account risk tolerance
During Extreme Events:
- Circuit Breakers: Trading halts give time to assess
- Manual Override: You can always close positions manually
- TastyTrade Access: Direct broker access as backup
We implement multiple layers of security:
Data Protection:
- Encryption: All data encrypted in transit and at rest
- No Credential Storage: We never store your TastyTrade password
- Session Tokens: Secure, expiring authentication tokens only
- Regular Audits: Security reviews and updates
Access Control:
- Two-Factor Auth: Optional 2FA for account security
- IP Monitoring: Unusual access pattern detection
- Session Management: Automatic logout and security
- API Limits: Restricted access to necessary functions only
Yes! We provide multiple ways to access your data:
Export Options:
- CSV Export: All trades, positions, and P&L data
- PDF Reports: Monthly and annual performance summaries
- API Access: Programmatic access (Enterprise plan)
- TastyTrade Records: All trades also appear in your broker account
Data Retention:
- Active Accounts: Indefinite data retention
- Closed Accounts: 7 years of historical data
- Tax Reporting: Export data in tax-friendly formats
Your Data Rights: You own all your trading data and can request exports at any time.
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