Bots have safeguards and limits that alert you when an automation encounters an error.
Total position limits prevent overtrading by limiting the number of positions a bot can have open.
The “Total position limit” error occurs when a bot attempts to add a position that exceeds the number of positions allowed.
Bot Settings
You can set total position limits in the bot’s global settings.
You can change total position limits at any time, but the bot cannot have more than ten active positions. There is no limit on closed positions.
Be aware that increasing the total position limit may increase capital exposure.
The above bot’s total position limit is two. The daily position limit is three, so the bot can open three new positions in a single trading day but never have more than two open positions at a time.
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.
Bot Dashboard
You can always view the bot’s activity in the bot dashboard.
The bot has one active position. The total position limit is set at two, so the bot can still open one more position.
Bot Log
An error is displayed in the bot log when trying to open a new position.
Because the bot had two open positions, attempting to open a third position results in an error.
You can select the automation to see precisely where the bot encountered the error.
You must increase the total position limit to enter an additional position. The bot’s daily position limit and capital allocation may also need to be adjusted to allow for more positions.
