How do I set an allocation for a newsletter?

When Global AutoTrading receives an opening trade alert from a newsletter, Global AutoTrading looks at each client's allocations to determine if a client has a valid subscription to that newsletter, and if so, to determine how many shares or contracts to open. Global AutoTrading clients can set the allocation that they want to use using Global AutoTrading's web site. Click on the images below to see a larger version.

To start autotrading a newsletter that is already on the allocation page, please just set an allocation. Global AutoTrading will be notified, and we will contact the newsletter publisher to confirm your subscription. When we receive that confirmation, your subscription status will be automatically updated, and autotrading will begin in your account with the next opening alert from that newsletter.

1. Begin by logging in to the Global AutoTrading web site, by clicking on the "Clients" menu item in the upper right corner of our web site.
2. After you login, you will automatically be directed to the allocation page. You can always get back to the allocation page by selecting the "Allocation" menu item (this menu item is only visible after logging in to the Global AutoTrading web site).
3. When at the allocation screen, filters can be used to only show newsletters that currently have an allocation above 0, and / or newsletters for which your subscription has been confirmed. Before a first allocation is set, all allocation lines will be shown by default. After an allocation is set, only allocated allocation lines (in addition to allocation lines for popular and new newsletters) will be shown by default. The allocation filter must be changed to "Show All" to show all allocation lines. Newsletters with a verified subscription are shown with a blue checkmark; other newsletters are shown with a grey 'x'. The table can be sorted by any of the columns by clicking on a gray column header at the top (click on the image on the right to see an example).
4. An allocation amount can be entered in the text field in the Allocation column, on the row of the corresponding newsletter. Please remember this is the allocation Per Trade (not for all simultaneous positions for the newsletter). Some newsletters offer trade alerts for options and stocks; those are shown on different rows in the table. Options also includes combinations like covered calls and spreads. After entering an allocation, click on the little floppy disk at the left end of the row to save your changes (a disk will only become 'clickable' if something has changed; otherwise it remains greyed out). You need to click on the disk for each rows that have been modified. If you enter an allocation for a newsletter for which your subscription hasn't been verified (subscription status will be a grey 'x'), Global AutoTrading will confirm your subscription with the newsletter publisher before autotrading for that newsletter will begin. When autotrading a new newsletter and/or new to autotrading with us, Global AutoTrading always recommends starting with small allocations (opening one option contract or one share is not unreasonable at this stage!), and (if you see fit), gradually increasing the allocation as you get familiar with the service.
5. After clicking the floppy disk icon, the message "Changes applied." should appear. If this message doesn't show up, reload the page to see if your new allocation is set or not; if not, please try again (you will have to change the allocation for the floppy to become clickable again). If it still doesn't work, please contact Global AutoTrading.
6. To stop autotrading a newsletter that has open positions, please check the check box in the "closing only" column (please do not set the allocation to $0). This will cause us to not open new positions, and only manage existing positions (including closing or rolling). You will not be charged a monthly fee for newsletters with a closing only allocation for which there is no position in the account. The system will automatically set your allocation to $0 and mark your subscription as unverified after a while. If you would like to pause opening positions (and plan to resume), please use a $2 allocation (without closing-only) to avoid the system marking your subscription as unverified (however, autotrading fees will continue to accrue). There is no way to stop pause closing positions.
7. Allocation Types: some newsletters may allow for multiple types of allocations. An allocation type can be selected from using the allocation type dropdown. If an allocation type dropdown is greyed out then that newsletter only supports one type of allocation. Not all allocation types are supported for all newsletters. Regardless of the type, please remember our allocations are Per Trade (not for all simultaneous positions for a newsletter). Possible allocation types are: Dollars: how many dollars per trade. This is the default. For long stock or option/combo positions, or for short stock positions, we divide a dollar allocation by an order's limit price, stop price or an instrument's bid or ask price to compute the quantity to open. For short option positions or combos (including credit spreads) we divide a dollar allocation by the margin requirement of the position. Quantity: specifies how many shares or contracts to open per trade. % Account Value: we multiply the account's total value by this percentage; the resulting dollar value is treated the same as a dollar allocation (see above). Used to automatically adjust the size of each trade based on fluctuating account value. Units: can be used with select newsletters that specify a quantity of shares or contracts as part of their alerts. When 'Units' is selected from the 'Allocation Type' dropdown for a specific newsletter on the allocation page, the allocation system uses the allocation amount specified as a multiplier of the quantity specified in the alerts. Thus, a unit of 1 would open the same quantity of shares/contracts as specified in the alerts; a unit of 0.5, half; and a unit of 2, double.
8. The 'At least one' checkbox that shows up on the allocation page is for clients who want to ensure that we open at least one contract for alerts of the corresponding service, even if the allocation for that service is not large enough. For example, if that checkbox is checked, an allocation of $2 would open a single share of IBM, even if it sells for $200. Some clients use an allocation that may be too small to enter one contract, causing them to miss a trade. Please just be careful with this checkbox; selling naked options, for example, can have large margin requirements of $3000 or more per contract.