Total Position Limit Error

The “total position limit” error occurs when a bot attempts to add a position that exceeds the number of positions allowed for the bot. Here is what you need to know about total position limit errors.
Total Position Limit Error
Steve Henry
Jul 27, 2021

Bots have safeguards and limits that alert you when an automation encounters an error.

Total position limits are in place to limit the total open positions active in a bot. The “total position limit” error occurs when a bot attempts to add a position that exceeds the number of positions allowed for the bot. 

Total position limits are set in a bot’s global settings. 

Screenshot highlighting the location of the bot's global settings

You can change the total position limit at any time, but no more than ten positions may be open in a single bot. Be aware that increasing the total position limit may increase capital exposure. 

Screenshot highlighting the total position limit global settings

The dashboard displays all daily activity for the bot, including the number of scanner and monitor automations that have run, how many decisions they made, and how many positions were opened or closed. The activity is time-stamped, so you know when it was last updated. 

Screenshot highlighting the daily activity on the bot dashboard

NOTE: Position limits are for new positions that are added, not closed. You can close as many positions as you want.

Position statement

The Position statement lists all open, closed, and canceled positions. 

Screenshot displaying the bot position statement

Error messages are displayed inside of canceled positions.

Screenshot highlighting error messages on the position statement

Selecting a canceled position displays the position details. The error message explains why the bot was unable to open the position.

Bot log

You can also access error messages in the bot log. The bot log shows your bot's automation activity.

Screenshot of the bot log display

Automations that encountered an error will be displayed in the bot log with a red circle and an explanation of why the bot discontinued the automation, such as exceeding the total position limit. The date and time the automation failed is also listed.

Screenshot highlighting error messages on the bot log

You can select the automation to see precisely where the bot encountered an error. For example, if the total position limit is set to 10 positions, and the bot attempts to open a new position, an error will occur. The bot will not enter a new position until another position is closed --manually or through an automation-- and space becomes available in the portfolio.

Screenshot highlighting the location of the decision criteria in the automation editor that generated the error message

Notifications

Error messages are also displayed in the notifications.

Screenshot highlighting the location of the notification icon

Notifications list all automation activity, including any time a bot encountered an error. As with the bot log and position statement, you can select an automation to view the decision criteria’ details.

Screenshot of the notification display for automation activity
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FAQs

What does the "Total position limit error" mean?

The "total position limit error" means that the bot has reached its limit for the total positions it can have open at one time.

How can I change my total "position limits"?

You can change your total position limit in the bot's main settings.

Are "position limits" by symbol or by total bot positions regardless of symbol?

Total bot positions regardless of the symbol.

Will I be notified if a bot reaches a total "position limit" error?

Yes.

Does a "Position Limit" error prevent me from closing positions in any way?

No.

Can I open a new position right away if I get a "Position Limit" error and subsequently close an existing position to free up a new slot?

Yes.

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