I have my autotrader setup to use a max isk value of 500M, 90 min order duration, 150 max orders, Sell Items, Sell Ships.

Started with 1.5B liquid isk.

After a couple hours I checked my orders, I have 800M in escrow, 1.8B more isk to cover from margin trading skill, 100M in sell orders posted, 2.6B in buy orders. Bot is using over 200 orders.

Its using more orders, more isk, and i'm not comfortable with it putting 5x the max amount worth of buy orders up wth is this thing doing?

Just close your eyes and open in a week! Aggressive trading gives best result, even if some of your orders will be cancelled due to low ISK in your wallet

I would suggest to reduce number of used orders till 50 as your wallet is small and bot will install many of small orders.