Do you manage positions based on how long the position has been open? Bot monitors enable you to exit or adjust positions using a time stop so you can take specific actions based on a position’s duration.
Bots can use a time stop feature to optimize position management. You can check a position’s duration and execute different management techniques based on how long you’ve held the position. As always, you have complete control over your portfolio.
This decision recipe references a position’s duration so you can dynamically manage positions.
For example, you may want to add a closing action if a position has been open for more than ten days to maximize an option’s extrinsic value before expiration. If the position has been open for less than ten days, you can take different actions.
Your bot continuously monitors your positions, so you have the flexibility to manage positions exactly how you want to based on multiple decision actions.