Traders, you asked, and we listened. We are excited to announce 1-minute position management using automated exit options.
As traders, we understand the limitations of broker orders. Standard brokerage platforms just don't give you the control you need and deserve. Good-til-canceled stop loss orders feel like targets for stop hunting during market volatility. The lack of flexibility can be frustrating. Not anymore because we created a better solution for you.
You can now pre-set exit criteria when opening positions manually or in a scanner automation with an Open Position action.
You can set four auto exit criteria based on:
- Profit taking
- Stop loss
*Expiration and earnings are triggered 30 minutes before the market close.
There's even an option to wait at least one day to close the position to avoid a day trade!
Once a position is open, the bot will check your exit criteria every minute and automatically send a SmartPricing closing order if your conditions are met. Auto-exit options always run, even if your bot is off, so your position is always being monitored.
See how easy it is to pre-set your exit conditions:
Exit options use normal SmartPricing settings and 100% of the bid-ask spread. For the profit target, the final price is automatically set to your desired profit target percentage.
This is without a doubt one of the most significant upgrades to automated trading that empowers traders like never before. Not only do you now have 1-minute auto position management, you can easily pre-set all your exit criteria when opening a position, giving you a new level of customization that is not available anywhere else.