You can override an active position at any time if you want to take control of the position’s management.
Manual override is a great tool if you want to take over management of a position or if you have manually closed a position through your broker’s platform (not in the Option Alpha platform). The position would no longer exist, so the function releases the position from the bot’s management.
When a bot opens a position, it is responsible for all management decisions until you override the position or manually close the position. Monitor automations, bot buttons, and bot events can be used to manage a position in the platform.
To override an open position, select the position in the Active Positions section to view the position details. Select “Manual Override.”
Overriding a position allows you to disconnect a position from the bot and transfer it to manual management in your broker platform. If you manually override a position, the Option Alpha platform no longer communicates with the position, and 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.
You will always receive a prompt ensuring you want to override the position.
Overriding a position does not automatically close a position; the position remains open in your account, and you will be responsible for the position’s management.
To close a position, select the “Close Position” button, and an order will be sent to your broker to exit the position immediately with a market order.
When you override a position, it is listed as “Override” in the Position Statement’s Closed Positions section.
The position is listed in the Positions tab as "Override' and its original opening details are still available. Any actions performed manually after the position has been overridden will not be visible in the bot, such as closing orders and final P/L.
Learn more about the manual override process with this blog example.