Beyond Traditional Take Profit and Stop Loss

While Take Profit (TP) and Stop Loss (SL) are fundamental tools for setting predefined exit points for maximum loss or desired profit, our Trading Panel extends these capabilities. Traders can now program additional actions to be executed under specific conditions, enhancing the strategic management of orders.

Customizable Actions for Dynamic Market Response

The Actions and Exit Methods feature empowers traders to dictate the behavior of their orders in response to varying market conditions. This customization is key in preparing for and addressing the plethora of scenarios that markets can present.

Configurable Actions

• Preconditions for Action: Traders can set actions to trigger once specific conditions are met, ensuring that the order adapts to changes in market dynamics.
  
  
• Multiple Action Stacking: Configure several actions simultaneously, each poised to execute when its corresponding condition is met.

By incorporating these programmable actions into the Trading Panel, traders are equipped with a comprehensive toolkit to navigate through the markets with greater precision and adaptability.

Actions Available

• Reverse: Reverse the current holding.
  
  
• Hedge: Establish a counter-position to mitigate risk.
  
  
• Close This Position: Liquidate the existing holding.
  
  
• Close Position With ID: Close a trade identified by its unique ID.
  
  
• Place Order: Initiate a new transaction with specified parameters.
  
  
• Remove Stop Loss/Take Profit: Cancel existing stop loss or take profit instructions.
  
  
• Modify Stop Loss/Take Profit: Alter the parameters of existing stop loss or take profit orders.

Conditions to Trigger Actions

• Price Crosses Above: Trigger when market price ascends above a predefined level.
  
  
• Price Crosses Below: Trigger when market price dips below a designated point.
  
  
• Price Moves Up From Entry: Trigger when price increases by a specified number of points from entry.
  
  
• Price Moves Down From Entry: Trigger when price falls by a predetermined number of points from entry.
  
  
• Take Profit Reached: Trigger when price hits the set take profit level.
  
  
• Stop Loss is Hit: Trigger when price reaches the stop loss level.
  
  
• Position With ID is Closed: Trigger when a specific position, identified by its unique ID, is closed.

Exit Methods

Beyond the standard Take Profit and Stop Loss mechanisms, our Trading Panel incorporates a variety of advanced exit methods. These methods are natively integrated into our platform, providing traders with sophisticated tools to exit positions in ways that align with complex strategies, without the need for additional programming.

Advanced Exit Strategies

• ATR Trailing Stop: Adjusts stop loss based on market volatility measured by Average True Range.
  
  
• Average Candle Size: Sets exit triggers based on the average size of recent candlesticks.
  
  
• Breakeven Exit Method: Automatically closes a position once it reaches a breakeven point.
  
  
• Chandelier Stop: Sets dynamic stop-loss levels based on market volatility using ATR.
  
  
• Close After X Bars: Closes the position after a predetermined number of bars have elapsed.
  
  
• Close at Date Time: Automatically closes a trade at a specific calendar date and time.
  
  
• Close at the End of Specified Day: Closes the position at the close of trading on a specified day.
  
  
• Exit at Time: Specifies an exact time for exiting a position, independent of date.
  
  
• Stop Loss: Closes a trade once the market reaches a predetermined loss threshold.
  
  
• Take Profit: Exits a position once the market reaches a predetermined profit target.
  
  
• Trailing Stop: Adjusts stop loss level as the market moves in favor of a position.
  
  
• Volatility Stop: Uses ATR to set protective stops that adapt to market volatility.