Monitor Automations

Bot monitor automations manage open positions.


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FAQs

What is the difference between a monitor automation and a scanner automation?

Monitor automations manage open positions inside a bot. Monitors actively manage different strategy types and only trigger once a position is opened with a scanner or event automation. Bot monitors typically end with a close position action and exit or adjust a trade when your decision criteria are met.

Scanner automations look for opportunities to enter new positions based on the decision recipes you create. Scanners filter through market criteria and work through a decision tree to open a position.

Do monitor automations run even if I do not have a position opened?

No, monitor automations only run when there are open positions to manage. Monitors will automatically trigger when a position is opened in a bot.

How many monitor automations can I add to each bot?

Currently, you can add five automations to a bot.

How simple or complex can my monitor automations be?

You can make monitor automations as simple or complex as you like.

If a monitor automation triggers a close position action and the order is not filled, what happens?

If the order isn't filled, the monitor automation will attempt to close the position again at the next interval.

Can I make adjustments to existing positions using monitor automations?

Yes, you can build adjustments into your monitor automations, but keep in mind that the monitor will no longer evaluate a position as a whole. It can only manage the separate parts as individual positions.

Do I have to set up a monitor automation for each type of trading strategy I'm using?

Not necessarily. You can re-use monitors if the automation applies to different strategies with the same position type. You can always create new monitors.

Will monitor automations still run if I turn off all automations in the bot?

No, if you turn your bot off, none of your automations will run.

Why are monitor and scanner automations separated inside a bot?

Scanner automations look to open positions while monitor automations manage the open positions scanners entered.

Can I reuse a monitor"automation that I've already created for use in another bot?

Yes. You can re-use any automation. You can also create a copy of an automation.

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