AutoScanTrade

The DAY TARGET - stop for the day at your number

The DAY TARGET window, beside CHART on the top row, sets a target for the day. When the day's net in the mode you are in, closed trades plus the open positions, reaches the target, every open position is closed, the fleet stops, and no automated entry opens again until the next trading day.

Length 2:00Applies to Full desk onlyIn the guide Exits and risk controls

In this video

The 30-second version

The same topic in thirty seconds, made for a phone screen.

Both videos use the desk in paper mode with made-up symbols and prices.

Read the transcript

Stop at your number

The DAY TARGET window, beside CHART on the top row, sets a target for the day. When the day's net in this world, closed trades plus the open positions, reaches the target, every open position is closed, the fleet stops, and no automated entry opens again until the next trading day. Net counts closed trades plus open positions, so an open loss counts against the target.

Give back

Give back percent changes what happens at the target: with a give back set, reaching the target locks the day instead of stopping it. Trading goes on, and the day's best net is kept, and when the net falls that share from its best, everything closes and stops, just as at the target. The best net of the day is what the give back percentage is measured against.

Reopen today

REOPEN TODAY opens the day again, if you change your mind. The line underneath shows today's net in this world, closed and open, against the target. Entries by hand always stay yours. REOPEN TODAY is there for when you change your mind.

Paper or live

It counts the world you are in: paper while paper is on, live when you are live. It is saved beside your other data files, and works with the risk limits, not instead of them. Paper and live each keep their own day net, so the counts never mix.

With the risk row

Together with Max daily loss on the risk row, it gives the day a ceiling and a floor that you set before the session starts, rather than decisions made in the middle of a fast stock. Test the target and give back in paper before you use them live.