Conditional Signals (REL/RES/RSN/OTS/OTL) - Printable Version +- Alera Forum (https://aleratrading.com/forum) +-- Forum: Alera Portfolio Manager (https://aleratrading.com/forum/forumdisplay.php?fid=1) +--- Forum: Documentation (https://aleratrading.com/forum/forumdisplay.php?fid=2) +--- Thread: Conditional Signals (REL/RES/RSN/OTS/OTL) (/showthread.php?tid=132) |
Conditional Signals (REL/RES/RSN/OTS/OTL) - admin - 07-14-2020 Conditional Orders These orders allow users to automatically place orders that will enter and exit positions given certain conditions. Before reading ahead, make sure you have read the Stock Signals tutorial. On-Trigger Signals Allows you to preemptively place an order to modify a position once it opens. These are useful for when you want to place two orders in the market, but you only want the second order to be placed after the first is executed. You can also use them to automatically place orders to close positions. On-Trigger Long (OTL)
OTL AAPL 200 %POSITION LMT 90 ID 200 ReSet to Neutral (RSN)
BTO AAPL LMT 100 ReEnter Signals Allows you to preemptively place an order to re-enter the market once the original position in a stock is closed. This may be useful if you want to maintain a long-term position in a stock, but you think it will go down. Hence, you can put a CLOSE LMT order to close the position and a REL LMT order to re-enter the position at lower price. ReEnter Long (REL)
REL AAPL LMT 100 ID 201 Note that a closing order(CLOSE/STC/BTC) should be placed AFTER the REL order to ensure that the REL order is not ignored if the closing order is executed immediately. Conditional Order Expiration Time Since it may be desirable to have REL/RES/RSN/OTL/OTS orders automatically cancelled after sometime, we have added a Conditional Orders section that allows you to do this in the Strategy Settings. Note that when you specify a Time In Force (TIF) in a Conditional Signal, that TIF is for the order that will be placed, not the Conditional Signal itself. That means if you place REL AAPL LMT 100 DAY ID 201 The expiration time format is simply hh:mm:ss zzz where zzz is the timezone, e.g. 15:30:00 EST Notes
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