Bots have safeguards and limits that alert you when an automation encounters an error.
Daily position limits prevent overtrading by limiting the number of positions a bot can open in a single trading day.
The “Daily position limit” error occurs when a bot attempts to add a position that exceeds the number of new positions allowed.
You can set daily position limits in the bot’s global settings.
You can change daily position limits at any time, but the bot may open no more than ten positions in a day. There is no limit on closed positions.
Be aware that increasing the daily position limit may increase capital exposure.
Scanner automations automatically turn off once a position limit is reached and enter a dormant waiting status so that you won’t receive a position limit error at every automation interval. You will only receive the error if you attempt to manually open a position that violates the position limit.
You can always view the bot’s activity in the bot dashboard.
For example, the bot opened and closed one new position on this day.
Because the bot’s daily position limit is set to one, and a position has been opened, it will not open another new position on the same day even though the original position was closed.
You must increase the daily position limit to open and close multiple positions in a single trading day. You can use the total position limit to prevent the bot from overtrading.
An error is displayed in the bot log when trying to open a new position.
You can select the automation to see precisely where the bot encountered the error.