We’ve released a new decision recipe that evaluates a position’s return on risk, giving you another position property to exit positions.
There are multiple ways to use this recipe to manage your positions inside a monitor automation.
For example, you could set up an automation to close a position when it reaches a 25% return on risk. You could also include an additional recipe to automatically exit a position two days from expiration that has not yet hit your ROR% threshold.
This recipe is useful for both short option spreads and long positions.
For example, if you open a $10 wide iron condor for $3.00 of credit, you could use a return on risk of 25% to close the position once it has a $175 profit.
If you want to exit a long call position once it reaches a profit three times the initial cost of the trade, you could use the recipe and set the return on risk to 300%.
We continue to improve the platform and add features to give you multiple opportunities to automate your strategies. This new recipe is a great way to manage profits relative to your level of risk.
Want to know when new posts go live? Subscribe to get updates each time we publish new training, research, or case studies. Autotrading is moving fast so don't get left behind.
Thank you! Please click the verification link we just sent to your email address.
Oops! Something went wrong while submitting the form.