Setup Automated Profit Targets and Stop Losses

Say goodbye to manually entering your exit orders for every position. If your strategies have defined profit targets and stop-losses, you can use bots to automate your exit criteria. 

With monitor automations, you can rest easy knowing the bot will manage all your open positions. Bots can use a decision recipe that evaluates if a position’s premium has increased or decreased by a certain percentage, and a close position action can be added to automatically exit the trade if your criteria is met.

While broker platforms let you manually set up exit orders, it is a time-consuming process that you must repeat for every position. The decision recipe highlighted in this video tutorial lets you customize your exit criteria to be detailed and dynamic. You can even group decisions to evaluate multiple properties at once.

Automated profit targets and stop-losses allow you to create consistent, defined exit parameters for specific position types. You no longer need to go through the process over and over repeatedly for every position. Let automation simplify the order entry process so you can automate your exits before the position is even open.