Trading Tutorials

Learn how to use our platform and master systematic options trading strategies

Getting Started with Senex Trader

1Create Your Account

Sign up for a free account to access our platform. No credit card required to start.

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2Connect TastyTrade

Link your TastyTrade account for live trading or use paper trading to learn.

Don't have a TastyTrade account? Sign up here
3Configure Strategy

Set your risk tolerance, account size, and preferred strategy parameters.

4Start Trading

Review algorithm-generated suggestions and approve trades that fit your criteria.

Pro Tip

Start with paper trading to understand how the system works before committing real capital. Our simulator uses real market data for accurate testing.

How to Generate and Execute Trade Suggestions

Step 1Navigate to Trading Dashboard

After logging in, go to the Trading section from the main menu. This is your command center for all trading activities.

What you'll see:
  • Market Analysis: Current QQQ price, volatility, and market conditions
  • Strategy Selector: Choose between Iron Condor, Put Spreads, or Intelligent selection
  • Risk Parameters: Your current risk tolerance and available buying power
Trading Dashboard
Your trading control center
Algorithm Analysis
Market condition evaluation
Step 2Generate Trade Suggestion

Click the "Generate Suggestion" button to trigger our market analysis algorithm.

The algorithm analyzes:
  • Bollinger Bands: 37-period bands to identify market position
  • Market Stress: Multi-day decline patterns and volatility
  • Range Detection: Whether the market is trending or sideways
  • Risk Capacity: Your available buying power and position limits
Note: The system may recommend no trading if market conditions don't meet our criteria.
Step 3Review the Suggestion

When a suggestion is generated, you'll see a detailed breakdown of the proposed trade.

Suggestion Details Include:
  • Strategy type (Iron Condor or Put Spreads)
  • Strike prices and expiration date
  • Maximum risk and potential profit
  • Profit target levels
  • Market condition analysis
  • Risk/reward ratio
  • Days to expiration (DTE)
  • Current market price vs strikes
Review Suggestion
Analyze risk and reward
Trade Approval
Your final decision
Step 4Approve or Reject

You have full control over every trade. Review the suggestion and make your decision.

Your Options:
Approve Trade

The trade will be executed automatically through the TastyTrade API

Reject Trade

The suggestion will be discarded with no action taken

Step 5Monitor Position

Once executed, the position appears in your Positions dashboard with automatic profit targets.

Automatic Management:
  • Profit Targets: Orders are placed immediately for staged exits
  • Real-time Tracking: P&L updates throughout the trading day
  • Expiration Management: Positions closed 7 days before expiration
  • Notifications: Alerts when positions reach profit targets
Position Monitoring
Real-time P&L tracking
Success Tips
  • Trust the Process: Our algorithm has been backtested extensively
  • Stay Disciplined: Don't override profit targets or risk management
  • Review Performance: Use the Analytics section to track your results
  • Start Small: Begin with smaller position sizes while learning

Understanding Our Trading Strategies

Iron Condor + Extra Put Spread Strategy

Our flagship strategy combines the income generation of iron condors with the directional bias of additional put spreads.

When It's Used:
  • Normal market conditions
  • QQQ away from Bollinger Band extremes
  • Moderate volatility environments
  • When range-bound conditions are not detected
Position Structure:
  • 2 Put Spreads: Primary income generation
  • 1 Call Spread: Downside protection
  • 45 DTE Target: Optimal time decay balance
  • Even/Odd Strikes: Prevents conflicts
Put Spread Only Strategy

A directional bullish strategy used when markets show oversold characteristics.

Activation Conditions (50+ points):
  • Lower Bollinger Band (40 pts): Primary signal
  • Market Stress (25 pts): 3+ day decline
  • Large Move (20 pts): >1% intraday drop
  • Support Level (15 pts): Near technical support
Strategy Benefits:
  • Maximum upside participation
  • Lower capital requirements
  • Simplified position management
  • Profits from market bounces
Intelligent Strategy Selection

Our algorithm automatically chooses the optimal strategy based on current market conditions.

Market Condition Strategy Choice Reason
Normal Market Iron Condor Balanced income generation
Near Lower Bollinger Band Put Spreads Capitalize on oversold bounce
Range-Bound (3+ days) No Trade Avoid choppy conditions
High Market Stress Larger Size Increased opportunity

Risk Management Framework

Position Sizing Rules
Account Size Spread Width
< $25K $3
$25K - $50K $5
$50K - $75K $7
$75K+ $9+
Risk Tolerance Limits
  • Normal Markets: 60% account utilization maximum
  • Stressed Markets: 80% account utilization maximum
  • Risk Calculation: Must have 3x spread width in remaining capacity
  • Hard Stop: Never exceed maximum risk threshold
Example: With a $50K account and $5 spreads, maximum risk is $30K-$40K depending on market conditions.
Profit Target Management
Put Spread #1

40%

Profit target for first put spread (60% of original credit)

Put Spread #2

60%

Profit target for second put spread (40% of original credit)

Call Spread

60%

Profit target for call spread (40% of original credit)

Emergency Procedures
Time-Based Exits:
  • 7 Days Before Expiration: Close all positions
  • No Weekend Risk: Friday expiration management
  • Holiday Adjustments: Close before market holidays
Market Stress Response:
  • VIX Spike: Monitor positions closely
  • Black Swan Events: Consider closing all positions
  • Earnings Announcements: Check position exposure
Critical Risk Reminders
  • Never Risk More Than You Can Afford: Start with smaller position sizes
  • Diversification: Don't put all capital in options strategies
  • Market Conditions Change: Be prepared to pause trading during extreme volatility
  • Technology Risk: Always have manual override capabilities