Mastering Smart Positions: Increase Efficiency in Altrady Trading Platform
Hello and welcome to this tutorial on using Smart Positions in Altrady. In this tutorial, we'll be going through the steps involved in using smart trading to increase the amount of positions you can manage at a single time through automatic placement of take profit and stop loss orders.
Firstly, it's important to note that any of the order types, market, limit, stop market, stop limit can be used to start a smart position. With the ladder function, you can create up to 10 entry orders, giving you more flexibility in your trading strategies.
When setting up your take profit orders, you have the option of setting one or multiple take profit orders with scaled or targets. Scaled take profits is a convenient way to determine the prices where target take profits allow you to set the specific price levels.The take profit prices can be fixed or can be a % offset from the average cost price. Additionally, you can set up automatic trailing for the last take profit target by clicking the checkbox on the last target. This will increase the profit chance by following the price up and only sell on a reverse move down.
For setting up a stop loss, you can choose to set it as market or limit order. Also, note that you can set a cooldown to prevent stop loss triggers on fast movements, but do keep in mind that it can result in a worse loss due to waiting too long.
To lock in profits, you can use the stop loss protection function. The stop loss can move to the average entry, follow the take profits when you have more than 2 take profits or use follow price to have the stop loss follow the price up.
The risk calculator can be used to determine the value of the risk at the current stop loss %, using portfolio balance, currency balance, account balance or a fixed price.There are also options to for expirations and auto close. You can use the start position at function, to only place the buy orders when your price is reached. This allows you to open multiple positions without reserving the funds. The time based expiration will cancel the position if it’s been open for a specific period of time. When no orders have been executed and the time is reached, all the orders will be canceled and the position will be removed. The price based expiration works similar, but instead of time, it uses a price. So when you see the market has already moved in the direction of your estimated profit, you can cancel the position. Last but not least, we have the time based auto close. This can be used to close the position at market value, after a specified time has past. This allows you to limit the time stuck in a position and you can move on to the next position.
To make things easier for future trades, users can click on the preset button in the top right corner of the trade form to save their setup as a preset.
By using smart positions in Altrady, you can increase the efficiency of your trading strategy. We encourage you to practice creating smart positions and experimenting with different options to optimize your trading strategy. Thanks for watching, and we'll see you in the next tutorial!