Trading Panel: Programming Actions

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: It is possible to configure several actions simultaneously, each poised to execute when its corresponding condition is met. This creates a robust strategy ready to handle multiple potential market movements.

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.

The following Action will be executed:  

• Reverse: The current holding is reversed. The platform provides an option to determine the proportion of the holding to reverse.
  
  
• Hedge: A counter-position is established to mitigate risk. The trader has the flexibility to decide the fraction of the holding to hedge.
  
  
• Close This Position: The existing holding is liquidated. There is an option to select the percentage of the holding to liquidate.
  
  
• Close Position With ID: A trade identified by its unique ID is closed, enabling targeted management of multiple positions.
  
  
• Place Order: Initiates a new transaction. The platform allows for detailed specifications regarding the type of order, its pricing, volume, as well as the accompanying stop loss, take profit, time in force (TIF), and the nature of the trade action.
  
  
• Remove Stop Loss/Take Profit: Cancels the existing stop loss or take profit instructions.
  
  
• Modify Stop Loss/Take Profit: Alters the parameters of the existing stop loss or take profit orders to new values.

IF the following conditions are met:

• Price Crosses Above: This condition triggers an action when the market price ascends above a predefined level. Traders must specify the exact price at which this condition activates.
  
  
• Price Crosses Below: Similar to the above, but in reverse, this condition activates when the price dips below a designated point. The exact market price must be entered to set this condition.
  
  
• Price Moves Up From Entry: Activates when the price increases by a specified number of points from the entry price. Traders need to input the exact number of points for this condition to be monitored.
  
  
• Price Moves Down From Entry: This triggers when the price falls by a predetermined number of points from the entry level. The precise number of points must be specified.
  
  
• Take Profit Reached: This condition is met when the price hits the set take profit level, prompting the associated action to execute.
  
  
• Stop Loss is Hit: Occurs when the price reaches the stop loss level, triggering the predetermined action.
  
  
• Position With ID is Closed: This activates when a specific position, identified by its unique ID, is closed. The position ID must be provided for this condition to be applicable.