Section 12 -
When entering trades, plan your exit with the OTS Trader's Auto Exit feature. It offers automated, adjustable exit prices that adapt to position changes, eliminating the need for manual adjustments. This is valuable for traders seeking to simplify exit order placement when adding new entry orders.
This particular feature not only enhances the app's value but also provides a significantly more convenient trading experience, removing the necessity for manual order placement or configuring an ATM on NT8.
Features - Section 12 | Auto Exits
1. Turn On / Off
The button's color indicator is green when active and turns gray when inactive. You can deactivate it while in live trades, and any corresponding working exit orders will automatically cancel. When reactivated with a position, the app will generate a consolidated exit order X points from your True Average Price of all entry levels, aiming to achieve an average of X points on filled orders.
2. Combine Exits
This feature consolidates all exit levels into a single price level, aiming to achieve an average profit of X points as configured in the inputs. You can activate or deactivate this feature during live trades. However, it's important to note that when it's turned off and then on, the app will amalgamate all existing exit orders into one, and any subsequent entry orders will have separate exit levels.
3. Adjust Price Levels via Drag and Drop
When using Chart Trader, if you drag and drop the exit on the screen, OTS Trader will accept this action and retain your new exit placement on the screen.
4. Integrate the scale-out function.
You can employ OTS Trader's exit functions in parallel with the auto exit features, and they will seamlessly collaborate without any conflicts. In practice, if you have both Auto Exit and scale out operating simultaneously, the Auto Exit feature will automatically fine-tune the exit quantities. This also holds true for manual exit strategies.
5. Automatically Submits Exit Orders
The Auto Exit function offers two options: it can either send precise exit orders for each individual entry as per your input, or it can consolidate all exits (Combine Exits) to determine an average point value for all the entered contracts.
6. Automatically correct exit prices based on the true average pricing.
When you engage in both buying and selling within the same trade, which alters your True Average Price, OTS Trader recognizes this and automatically adapts the Combined exit order to align with the preset profit point value you've configured in the app.
7. The app won't cancel Auto Exit orders from the Price ladder.
With Auto Exit active, exit orders will be highlighted with a distinct background color on the OTS Trader's Price Ladder. If you choose to utilize the "X Cancel" options at the bottom of the Price Ladder to cancel all buy or sell orders, please note that the app won't cancel the Auto Exit orders; it will only cancel the manual orders. To cancel the orders associated with Auto Exit, you can simply disable the Auto Exit function, and this action will exclusively cancel the auto exit orders while keeping manual orders unaffected.
8. Adjust the X-point value.
When you modify the point value while the Auto Exit function is active, the app will immediately cancel and replace all exit orders with the new settings in one go.
Settings - Section 12 | Auto Exits
To access the settings of the OTS Trader app, open the app, right-click on it, and select "Settings." From there, navigate to the "Section's" settings option.
There are no settings for section 12 | Auto Exits
Strategies - Section 12 | Auto Exits
OTS Trader's Auto Exit offers a range of strategy ideas, all in line with typical order execution, streamlining the overall process. We believe you'll likely uncover additional strategy ideas through your own trading experiences. Keep in mind, that you can create your own auto entry coded strategy and then use the OTS Trader's app for the exits of the strategy.
1. Generate a customized auto exit order for each entry level and its associated quantity.
A simple strategy is to let the app automatically submit these exit orders, which can save you a substantial amount of time and effort compared to executing them manually.
2. Consolidate all exit orders with a single click.
When you have multiple exit orders at various price levels, the OTS Trader's app enables you to consolidate these orders into a single exit. It then utilizes OTS's True Average Price to calculate the precise exit point needed to achieve an average profit of X ticks per entry level.
3. Automatically scale out of trades.
The OTS Trader's app can automatically place exit orders X points from your entry. This feature is versatile, suitable for both your own automatic strategies and manual orders. You have the flexibility to enable or disable it and make real-time adjustments, a capability that coded auto strategies do not provide.
4. Modify exit levels with a single click.
There might come a time when you want to update all your exit orders with a single click. Now, with the OTS Trader's app, you can change the exit values of all your exits and see instant updates on your screen.