The manual override function disconnects a position from the bot’s management.
Manual override enables you to take control of a position, which you must then manage in your broker platform. The Option Alpha platform will no longer communicate with the position.
If you manually override a position, the position will not count against position limits or capital allocation limits. You may need to re-consider your bot’s capital allocation limit if you manually override positions.
Any position opened in the platform can be overridden. This is a useful feature if you want to automate your trade entries but manually manage or close the position through your broker.
To override a position you closed manually, select the position in the Position Statement.
If you close a position in your brokerage account, you will need to disconnect it from the bot. The bots do not know a position has been closed unless it is closed inside the platform.
If you attempt to close a position that has already been closed manually, you will receive the following notification.
Remember, you don’t have to use the manual override feature. Any position opened through the Option Alpha platform can and will be managed by your bots’ monitor automations.
However, if you manually override an open position, the automations will no longer manage the position; you will need to close the position through your broker.
When removing a position from the bot with the “Manual Override” button you will receive a prompt (whether it is still open or has been closed manually).
Positions opened inside the autotrading platform still display the position’s details before the manual override, such as the entry order details. Any action taken after the position was released from the bot will not be visible.
Manual override allows you to remove a position from the bot and manage the position through your broker without closing the position in the bot.
Learn more about the manual override process with this blog example.
In some cases, you may want to manage your position from the broker platform. In this case, the bot is not aware of this change and will throw an error if the position is not found. Manual Override removes the altered position (altered on the brokerage platform) from the bot view and ensures that the bot correctly references the positions on your brokerage platform.
What happens if I close a position on the broker platform but do not manually override from the bot?
The platform will throw a rejection error message from the broker because it's trying to execute a position that the bot thinks it has, but the position no longer exists in your brokerage account.
If I manually override a position, will my bot continue to run normally and manage other active positions that have not been altered on the broker's end?
Yes, only the altered position is affected. All other orders remain active and managed by your bot.
If I manually override a position, how will it impact the P&L stats in the bot's Positions or Dashboard pages?
If you chose to manually override a position held by a bot, any trades that have taken place in that bot since the opening of the current position that you are manually overriding will NOT be factored into the bot's stats in any way. On the Positions page it will simply show —— for the P&L Line for that trade.
Is there a way to log my fill prices manually into the bot to keep the bot stats/P&L intact?
No, at this time, there is no way to manually enter that information.
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