How to use rules to edit the trade – on the fly
TradeLab.ai allows you to change how you trade and the details of a trade on the fly. That’s one of the main principles behind it’s design. For example, when you make a strategy you’ll find the Trade Settings section in the builder. This is where you set things like the symbol (coin) you wish to trade, the amount, the leverage, whether you want to go long(buy) or go short (sell) and set your TP and SL. You can see the Trade Settings panel below
At the bottom of the builder are the rule blocks. Each block is a IF THEN condition/action type of deal. So the top condition section asks do these things match what I expect, if they are all correct then the actions run.
Here we can see two rule blocks and within their actions they are changing the Strategy Side on the fly. This is the same Side (buy/sell) from the Trade Settings panel. So you can see here we are listening for an alert, when it fires we run our rules, if the rule passes we run an action and we can change how the bot will place the order.
This is one very simple example. It’s a common question when people see the drop down, “can a strategy only do long or short? So I need two strategies if I want to swing back and forth?” And the answer is no – A strategy can do both. Of course it’s only in one of those modes at a time, but we can use the rules to make it switch whenever and however we want.