How exit orders are sent - exit offset, exit chase and the band

Exits are limits

Exits are sent as limit orders, priced through the market by your Exit offset. So they work in every session: premarket, market hours and after hours. The exit offset is usually deeper than the entry offset, because getting out is the order that must fill. Every exit is priced from the Exit offset, whichever rule sends it. Set the exit offset in paper first, and see how the chase behaves.

The exit chase

If an exit does not fill, the desk re-prices it one offset deeper, a limited number of times, and logs each attempt as an EXIT CHASE. The last automatic re-price says so in the log, so you know when it has stopped chasing. Each chase is one offset deeper than the last, so the price moves further through the market.

Never through the band

In regular hours, when an official limit-up, limit-down band is known, a sell exit is never priced below limit-down, and a cover never above limit-up. That is logged as EXIT AT BAND. Only an official band counts here, so an estimate does not apply.

TRACK for exits

With TRACK on, both offsets are sized from the slippage your own recent fills actually took, times the multiplier, and never smaller than the cents you typed.

Every attempt, logged

Every exit, every chase and every refusal is in the order log, with the broker's reply. And every fill shows in EXECUTIONS, with the exit reason. So after a fast trade, you can see exactly how the exit was worked. Check the order log after a fast trade to see each re-price and refusal.