Time Action to Disable PT/SL (including PAs)
under consideration
D
Denny V
It is quite useful to disable PT/SL for some trades.
While in the BT, there is an option to bump up the PT/SL threshold to unreal levels, this will not work in Automation, especially with Broker Resting PT/SL.
-- Another crucial option --
By disabling PT/SL, the BT and Automation have to disable Profit Actions and Trail SL.
For example, if I have PA for @50%PT adjust SL to 100% --> having TA to disable the global SL, has to disable this PA too.
Another example, if I have PA for @50%PT close 25% allocation --> having TA to disable the global PT, has to disable this PA too.
Final example, if I have PA for @50%PT close 25% allocation and adjust SL to 100% --> having TA to disable the global PT or SL or both, has to disable this PA too.
Then, if I want to re-enable PT/SL (including PAs) --> I can add additional TA with some values for PT/SL.
There are two approximate pictures attached.
It might be good to make the words 'Disable' in red, rather than in white.
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Brian Chia
updated the status to
under consideration
Brian Chia
Merged in a post:
Just CANCEL the PT ...
@
@wizzy
Two scenarios ...
A. I have a DC. If it hits 5% on Day 0, then great. After that, I'm happy to run it with just a timed etc. exit. To #hack this, at the moment I have to use a 5% PT, then at 15:59 change that to 999%. In backtesting it works. Most reputable brokers will reject a silly PT. I can set the PT to 100% for automation - that kinda works OK (but it's a hack)
B. If I sell a 1$ credit spread, with a 50% initial PT, but then after 1 hour I want to let it ride-or-die, I can't remove the PT. In _backtesting_ I can set the PT to 100+%, but a broker will reject that order. And we can't mix % and $ (for a CO). So the only recourse is to use a 95% PT.
It would be greatly preferable if there was an option to simply cancel the PT.
If you don't want extra buttons, then using '999%' should be a convenient workaround?
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@wizzy
Ah - already a request!
D
Denny V
This looks close to -- https://optionomega.canny.io/feature-requests/p/time-action-to-disable-pt-sl-including-pas