Futures Trading
StockHero supports the trading of futures contracts. This feature is only available through selected brokerages supported by StockHero (please refer to the list below).
To trade futures, users must be aware of the funding requirements, which are categorized into two types:
Intra-Day
Overnight
By default, the "Overnight" funding requirement is applied. This allows bots to hold futures positions over multiple days.
Typically, the overnight funding requirement is higher than the intra-day requirement. As a result, some traders may prefer intra-day trading. To enable a bot to use only the intra-day funding requirement, users must activate the "Auto-close position at end of trading day" option on the bot’s Trade Parameters page.
Please refer to the list below for the specific funding requirements of each supported brokerage.
Additional Risk Management in Futures Trading
StockHero offers the option to limit the total number of contracts that the bot can buy through the option "Max No. of Contracts". This safeguard ensures that your trading strategy does not exceed your desired position size. Let us illustrate with an example.
Max No. of Contracts = 3
Time T: Bot opens a position and buys 2 contracts.
T+1: Bot buys again with 3 additional contracts (for a total of 5). However, before sending the order to the brokerage, the bot will check against the Max No. of Contracts value and determine that only 1 additional contract can be purchased. Bot sends an order to the brokerage for only 1 contract, instead of 3.
Leave 0 or blank for this option in order to disable it.
List of brokerages that support futures trading:
TradeStation Futures (Funding requirements).
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