Every setting explained, with plain-English examples.
This guide assumes you've already installed Reflex and connected your Kalshi account. If you haven't, start with the Setup Guide first.
Kalshi crypto markets close every 15 minutes. Each market is a yes/no bet on the price of BTC, ETH, SOL, or XRP — for example, "Will BTC be above $X at 4:00 PM?"
Reflex watches these markets for you and places trades when your rules are met. Every time you deploy a strategy, the bot runs a loop that looks like this:
You're always free to stop the bot at any time. Your money stays on Kalshi — Reflex never holds funds. It's just placing orders for you.
Reflex shows up two places:
Most of this guide is about the in-page panel.
At the very top of the Reflex panel you'll see four checkboxes:
You can pick one of these markets. The bot will only trade that one.
You can pick up to all four. When more than one is selected, Reflex scans all of them in parallel and trades the first market that meets your rules. Only one open position at a time across all four.
This is the toggle right under the markets section.
Below the markets section, the panel splits into three tabs:
When you click Deploy Strategy, Reflex automatically switches you to the Monitor tab so you can watch.
To the right of the tabs are two buttons: Live and Paper.
Real trades on real Kalshi markets, with real money. Default mode.
Practice mode. Reflex uses real-time prices and the actual orderbook depth to simulate what would happen — but no real orders are sent to Kalshi. Your real balance is unaffected.
This is the safest way to test new settings before risking real money.
Three options decide which side of the market the bot will buy:
How many contracts the bot buys per trade.
Up to 3 contracts per trade.
Unlimited.
Each contract on Kalshi costs whatever the current market price is, in cents. So a YES at 60¢ = $0.60 per contract. Buying 3 contracts at 60¢ = $1.80 in cost.
This dual slider controls when in the 15-minute interval the bot is allowed to enter a trade. The number is measured in minutes-and-seconds before the market closes.
Why use this? Crypto markets often move a lot in the last few minutes, and many traders prefer to wait until late in the interval when the price is more "settled." Narrowing the window also reduces accidental early entries.
Another dual slider, this one in cents from 1¢ to 99¢. The bot will only enter when the side it's about to buy is within this price range.
This is your main "I only want to enter trades I'm confident about" filter. Higher prices on Kalshi roughly mean "more likely to win," so a range like 70¢-95¢ means you're only entering when the market is already leaning your way.
Two number boxes: + (take profit) and − (stop loss). Both are measured in cents from your filled entry price.
Set either side to 0 to turn it off:
This toggle controls what happens after the bot closes a trade within a single 15-minute interval.
Auto re-trade pairs with auto-continue but they're separate. Auto re-trade is "more trades per interval"; auto-continue is "keep going to the next interval."
The big button at the bottom. Click it to start the bot. The same button becomes Stop Strategy while the bot is running. You can stop and restart at any time.
Click the small Advanced ⚙ button next to "Take Profit / Stop Loss" to open this popup.
Three options for how the bot exits a losing position when your stop-loss is triggered. They differ in how aggressively the bot tries to get out.
The bot first tries a "protected" limit order at your max stop-loss price. If that order doesn't fill within the grace period (default 3 seconds), it gets more aggressive and chases the price down to make sure you exit.
Trade-off: Good balance between getting filled and not selling at a panic price. This is the right choice for most users.
The bot will only sell at or better than your max stop-loss price. If the market never offers that price, you stay in the position. This protects you from terrible fills, but you may sit in a losing trade longer than you wanted.
Trade-off: Best for strict price discipline. Risky if the market gaps past your stop and never comes back.
The bot places one limit sell at your stop price and walks away. It doesn't chase if the market moves further against you.
Trade-off: Most patient, lowest fees. Don't use this if you can't tolerate a position drifting against you while waiting for a fill.
The most cents per contract you're willing to give up on a stop-loss exit. Leave it on auto and Reflex picks a sensible default based on your stop-loss spread.
How many seconds the bot waits at the protected price before getting more aggressive. Default is 3. Increase it if you want to give the protected limit more time to fill (less slippage, but you might miss the exit).
An optional safety net. If the bot loses more than this dollar amount in a single 15-minute interval, it stops or flattens depending on the action you pick.
The loss limit, in dollars. Leave it blank to turn the guard off.
Once you deploy a strategy, the panel switches to the Monitor tab automatically. You'll see:
The top box describes what Reflex is doing in plain English: "Watching BTC for the first valid setup," "In a SOL trade. Scanner resumes after the position closes," etc.
One row for each market you selected. Each row shows the current state:
The bottom section lists your most recent trades along with each one's profit or loss. The big "P&L" number at the top is the running total.
P&L is computed using the actual filled value (including Kalshi fees, when reported by the exchange). It's a close approximation of what hit your Kalshi balance — not a guarantee.
Right above the per-market list. Stops the bot the same way as the button on the Trade tab.
An AI assistant that knows about your current settings and can answer questions like:
The chat can also suggest changes to your settings. When it does, the sliders and inputs update automatically — you'll see entry window, price range, and take-profit/stop-loss adjust in the Trade tab. Nothing is deployed until you click Deploy Strategy, so feel free to ask, see what changes, then tweak.
It's not a replacement for understanding the settings — but if you're unsure, asking is faster than reading the docs.
Contract — one share of a YES or NO bet on Kalshi. Each contract costs the current market price in cents and pays $1 if it wins, $0 if it loses.
Interval — one 15-minute trading window on Kalshi. The market opens, you can buy and sell, and at the end it settles to either YES or NO based on the actual crypto price.
Settle / Settlement — when a market officially decides the answer to the YES/NO question, paying $1 to the winning side and $0 to the losing side. Happens shortly after the interval closes.
Take profit — the price target where the bot automatically sells your position for a gain.
Stop loss — the price level where the bot automatically sells to limit a loss.
Spread — the gap between buying and selling prices. In Reflex, "+ / −" spreads are how many cents above/below your entry the take-profit and stop-loss are placed.
Limit order — an order to buy or sell at a specific price (or better). The exchange only fills it if a matching price is available.
Slippage — the difference between the price you wanted and the price you actually got. Higher slippage = worse fill.
Side (YES / NO) — Kalshi markets are yes/no questions. Buying YES means you think the answer is yes; buying NO means you think it's no.
Series — a recurring sequence of markets, like "BTC 15-minute price markets." Reflex trades within a series, moving from one interval to the next.
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