Typically, monitor automations end with a close position action. But maybe you don’t want to stop there. Maybe you want to open a new position as soon as the other position closes.
You can stack open and close position actions inside a monitor automation to automatically open a new position when another position closes.
This feature is somewhat advanced and should be used appropriately, but it is a great way to automate a strategy that continually opens new positions.
For example, you can add an open position action directly after a close position action. The bot will move to the next decision in the automation and instantly open a new position.
With this technique, the bot does not check if the position has closed before sending an order to your broker, so there is a chance the original position has not yet closed. You can adjust the SmartPricing settings to ensure the order is filled as quickly as possible. You can also use a close position event automation to trigger an automation as soon as a position closes and achieve a similar result.