This new decision recipe has been added to give us more control over position management. We now have a handful of variables to reference relative to one another, specifically performance metrics such as EV and Alpha.
The Community was a great inspiration for this update because you’ve all wanted more ways to compare position properties in your monitor automatons.
For example, a lot of traders have asked for a way to dynamically evaluate a position’s profit and live EV. Now, you can automatically close a position if the open P/L is greater than the current expected value.
Or, maybe you want to manage the position if the probability of max loss exceeds the probability of profit, meaning the trade now has a higher chance of loss than making money. As always, your automations will monitor your positions throughout the day to evaluate real-time probabilities.
We now have enhanced tools to track key position properties to inform our decisions. We’ll continue to add powerful new recipes, and we can’t wait to see how you use this new decision in your bots and in conjunction with additional actions.