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Introduction to Automations

Welcome to the world of Pluto automations! Our powerful and intuitive tools allow you to create, deploy, and manage sophisticated trading strategies. Whether you're a seasoned trader or just getting started, automations can help you take your trading to the next level.

What Are Automations?

In Pluto, an automation is a pre-set trading strategy that performs certain actions when specified conditions are met. It comprises of several components: sections (or rules), triggers, actions, and match types.

Sections (Rules)

Think of a section as a small part of your overall strategy. Each section contains a set of triggers and corresponding actions. It's guided by a match type that determines how the triggers are evaluated.

Triggers

Triggers are conditions based on real-time data that, when met, kickstart an action. A trigger might be something like, "If TSLA missed earnings 4 of 6 recent quarters." There are currently 10 different types of triggers available, ranging from price and volume to earnings and time of day, with more in the works.

Actions

Actions are the operations performed when trigger conditions are met. They can be a Buy, Sell, Short, or Cover. In essence, they are the 'response' to the 'if' condition presented by the triggers.

Match Types

Match types control how the triggers in a section are evaluated. They can be one of the following:
  • All: All triggers within the section must be met for the action to be performed.
  • Some: At least one trigger within the section must be met for the action to be performed.
  • None: None of the triggers within the section must be met for the action to be performed.
  • At least: A specific number or a weighted number of triggers within the section must be met for the action to be performed.

Why Use Automations?

Automations allow you to execute your trading strategies systematically, reducing the impact of emotions and helping to ensure consistency. They also enable you to trade 24/7, so you can take advantage of opportunities even when you're busy or asleep.

Example of an Automation

Let's say you believe that a missed earnings report is a good indicator that a stock's price will drop. You might create an automation with a trigger like "If TSLA missed earnings 4 of 6 recent quarters." The corresponding action could be "Sell TSLA." The match type would be "all," as you want the action to be performed if the single trigger condition is met.
Ready to dive into creating and testing your own automations? Let's move on to the next sections!