Bot Overview Guide

Overview

The Whispertrades autotrading platform operates based on separate "bots" configured by each user to run using its own rules and schedule. A bot's job is to find new trades to enter, enter them, and then manage the trade until exit. At exit, the bot will look for a new position. Separate bots do not communicate with one another and can be managed, enabled, and disabled independently.

How Bots Run

Whispertrades bots run throughout the day to monitor new and closed positions. While a bot is enabled, it will enter, manage, and exit positions as outlined by the bot settings. When that position closes, the bot will enter a new position unless the bot has been configured by the user to "disable on close" or is outside of enter and exit time windows as defined by entry and exit conditions.

When a bot is assigned a profit target, it will submit and maintain a working order in your brokerage account. Do not modify or cancel any orders from your brokerage account that were submitted by a Whispertrades bot. Likewise, when it is time for a new position, the bot will submit a new opening order, and this order may be canceled and replaced automatically a few times until it fills. If you ever need to make changes to these positions or orders, you should always do so from your Whispertrades account.

Bot Schedule

Whispertrades bots run in some capacity between 9:00am and 4:30pm US Eastern Time on market days. Outside of market hours, bots will run to make adjustments to orders or check for late fills after the market closes. Here's what happens throughout the day:

  • 9:00am - Bot adjustments
  • 9:30am* - Adjustments and check for closing order fills
  • 9:31am - 3:59pm - Adjustments, check for closing order fills, and enter new positions
  • 4:00pm - Bot adjustments
  • 4:00pm - 4:15pm - Check for closing order fills after regular session ends
  • 4:20pm - Mark expired/assigned positions closed
  • 4:30pm - Bot adjustments

All times are US Eastern Time

*New positions are not entered during the first minute (9:30-9:31) of the market session. This is designed intentionally to avoid poor liquidity issues right at market open.

Run Frequency

All bots run every minute to either enter a new position, manage an open position, or wait until configured to enter a new position.

If your bot has an open position with a closing order, the bot will check once a minute to see if your closing order has filled.

If your bot has an open position but no closing order, it will not run throughout the day because it has no work to do until either adjustment time or expiration for the current position.

Adjustments will run at the exact time of day that you configure.

Running a New Bot

A newly created bot will not start running right away. You can review any new bot you created for accuracy and enable once you are ready for it to start running. Once a bot is enabled, it will run using the schedule and criteria that you have supplied. Bots will only monitor new and existing trades during market hours but can make adjustments to orders after hours if you have configured your bot to do this.

Stopping a Bot

Bots that are enabled will continue running until one of the following happens:

You manually disable the bot

When you disable a bot, that bot will no longer enter new positions. It will continue to manage any existing positions if you choose to Disable on Close, which is recommended. If you forcefully disable a bot that has open positions, that bot will no longer manage the open positions even if you re-enable the bot. Disable on Close, rather, will allow it to continue running while the current position is open, and then, once that position is closed, the bot will automatically disable and not enter any new positions until you re-enable.

You manually disable all bots

In addition to disabling individual bots, you can disable all bots using the toggle switch that is displayed at the top of all account pages:

As discussed in the previous session about disabling bots, we recommend only disabling all bots if there are no open positions remaining. Disabling bots or your account while positions remain open can cause unexpected results.

Your Whispertrades balance reaches $0.00

Your bots will require a positive account balance to continue running. To learn more about when and how these charges accrue, refer to our section on payment. If your account balance reaches $0.00, all of your bots will stop running until your balance is replenished.

Your kill switch triggers

If you choose to utilize our automated kill switch, your bots can automatically disable if you do not log into your Whispertrades account within a timeframe of your choosing. This is in place to protect your account by disabling autotrading in the event that you are unable to access Whispertrades. Visit your settings to adjust your kill switch.

Deleting a Bot

To delete a bot, first disable it if it is not already disabled. Then, view the bot and click the red "Delete Bot" button at the top of the bot page.

NOTE: Deleting a bot will also delete that bot's entire position and order history from your Whispertrades account. This is permanent and irreversible, so delete with caution.