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ReSet and ReEnter Signals (Conditional Signals)
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ReSet and ReEnter Signals
These signals 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.

ReSet Signals
The idea behind these types of signals is that you can preemptively specify the type of close order you want for a position. This is very useful for positions that you want to automatically close at the end of the day. For example, in the morning you can place a BTO LMT order and then a RSN MOC order to automatically close all your positions at the end of the day (if they were opened).

ReSet to Neutral (RSN)
  • Signal to close a long position as soon it opens
  • If the current position is long, this signal will become a CLOSE order immediately
  • Requires a signal ID to be processed
  • An existing RSN order can be cancelled by sending a RSN order with quantity 0 (MUST specify 0 SHARES; something like RSN SPY ID 200 won't cancel the order)
The following will place a CLOSE AAPL MOC DAY order if the initial AAPL position opens
BTO AAPL LMT 300
RSN AAPL MOC DAY ID 200

ReEnter Signals
The idea behind these types of signals is that you can 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)
  • Signal to re-enter a long position as soon as it is closed
  • If the current position is not long, this signal will be ignored
  • Requires a signal ID to be processed
  • An existing REL order can be cancelled by sending a REL order with quantity 0 (MUST specify 0 SHARES; something like REL SPY ID 200 won't cancel the order)
ReEnter Short (RES)
  • Signal to re-enter a short position as soon as it is closed
  • If the current position is not short, this signal will be ignored
  • Requires a signal ID to be processed
  • An existing RES order can be cancelled by sending a RES order with quantity 0 (MUST specify 0 SHARES; something like RES SPY ID 200 won't cancel the order)
Suppose we are currently long AAPL. Then placing the order
REL AAPL LMT 350 ID 201
will place an order BTO AAPL LMT 350 when our position in AAPL is closed.

Notes
  • The signals you place with RSN/REL/RES actions work exactly the same as regular signals. That means that setting things like Time In Force to DAY means that the order that is eventually placed by the RSN signal will be a DAY order. The RSN/REL/RES signals take no parameters themselves; everything is passed onto the signal that will eventually be placed by them
  • We will add the ability to automatically cancel RSN/REL/RES orders at a certain time in the future. Currently they cannot be automatically cancelled and must be cancelled manually or with a 0 SHARES signal
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