Can I Test a Strategy Before I Enable My Strategy?
Yes, in fact we would suggest to do just that with all your strategies, before you enable them to be ranked live every day.
The Brutus Options Ranker will perform a rank on “sandbox” data. Important to note that “sandbox” data is a limited set of market data from two weeks ago and does not reflect real-time market conditions.
However, sandbox testing will give you a good feel for how Brutus will rank options trading alternatives with your strategies.
How Do I Create a Test Strategy?
To begin, go to your dashboard page. Click on the strategies button located at the bottom of the far left panel, as shown below.
Once you reach the ‘My Strategies’ page, hit the ‘Create Strategy’ button on the upper right-hand side of the page.
You are now where you need to be to begin setting up your strategy for testing.
Provide a title and description for your strategy in the pop-up box that will appear. For example, if your strategy entails a reduction of risk while maximizing potential reward, you might name it ‘Risk/Reward Min/Max’.
Or you could choose some aptly named title and describe it as a risk-minimizing, reward-maximizing strategy. When you’re finished, click “done”.
Remember to fully complete the strategy setup, including all the necessary criteria, otherwise you will not be able to run or test it.
You will see a series of screens. These indicate that the test is in progress and the ‘Sandbox Demo’ is ready. Also, a final screen will indicate the results of your test.
Lastly, you should see displayed ranked choice(s) indicating the probability for profitability and the suggested options. As mentioned before, the data is based on prior information and is not reflective of real-time market data.
The run test function within the Brutus Options Ranker gives you a good indication of the potential for success. Also, it allows you to make necessary modifications to your options strategy for your desired outcome and criteria.