Your portfolio probably has multiple strategies and position types. Each strategy may have unique exit parameters. The old, manual way of trading requires you to input exit orders and modify them for every position. Now, you can use custom inputs inside a monitor automation to easily change profit targets for different tickers and strategy types.
Custom inputs are variable fields inside automations that you can edit. Custom profit target inputs add flexibility to your automations by allowing you to switch the profit target levels for different strategy types.
For example, you may choose to take a 25% profit on your iron condors, and a 50% profit on call credit spreads. With custom inputs, you can easily change the variable field and the edits will flow through the automation. Custom inputs make your bot more efficient because you don’t have to make the changes individually. You can edit any custom input in the Automations tab.
As you add automations to more and more bots, custom profit target inputs will save you time and make your automations more dynamic across different strategies. You now can quickly change exit criteria for multiple positions.