Adjustments

once a position is open, you may find that some adjustments are needed at scheduled times or intervals we offer a limited number of targeted adjustments, described below adding, disabling, and deleting adjustments if you add an adjustment to a bot that is currently running with a position on, that adjustment will run the next time your adjustment time is hit if that time is in the past for the current day, the adjustment will first run the next market session at your specified time all currently enabled adjustments will run for any positions even if the adjustment was added after the position was opened you can cancel an adjustment either by removing (deleting) it from the bot itself or simply disabling it you can enable and disable adjustments from the bot's list of adjustments to delete an adjustment, you'll need to open the adjustment itself and click the red "delete" button available adjustments cancel closing order this will cancel a closing order that is currently running for the bot this only applies to standing profit target orders (not stops) you must specify a time of day to cancel the order, and you can optionally specify days to expiration as well if you specify days to expiration, your closing order will be canceled at that number of days to expiration at the time of day that you specify if you do not specify days to expiration, then your closing order will be canceled at the same time every day this is typically paired with a "re enter closing order" adjustment so that your closing order goes back on later this is most commonly used to cancel a closing order a few minutes before market close to eliminate the possibility of a position closing right before market close with not enough time to enter a new position re enter closing order if taking advantage of the previous adjustment (cancel closing order), you may wish to re enter that closing order at a later time if you would like the closing order that was previously canceled to start working again for the next market session, you can add an adjustment to re enter the closing order either after hours or during the next trading session this only applies to standing profit target orders (not stops) if at the time you re enter your closing order and your limit price is very far from the current market price, your broker may reject the new limit price if this happens and whispertrades detects that it's because your limit price is now significantly worse than the current market price, the bot will forcefully close your position closer to the market price this is because your previous limit price is far from the market and you can now exit at a much better price close position early if you wish to close a position early, at a scheduled time, you can use this adjustment when adding this adjustment, you'll also specify days to expiration and time of day for it to execute at that dte and time of day, your bot will enter a closing order at the best available price it will continue to attempt exit until it receives a fill due to poor liquidity on options on expiration day near the end of the market session, when closing on expiration day, it is recommended to schedule this adjustment at least 10 minutes before the market closes trading a position that is minutes from final expiration can result in significant losses due to bid/ask spread slippage this is generally only the case on expiration day and not prior days after the bot successfully closes the position, it'll immediately run and look for a new position if your bot allows a new position at that time of day enter second position unless utilizing this adjustment, each bot can only carry one open position at a time if you wish for a bot to enter and maintain two open positions simultaneously, you can use this adjustment to do it when you add this adjustment, you will need to specify 'days to expiration' and 'adjustment time' so that the bot knows when to enter the second position these two settings, days to expiration and adjustment time, are relative to your current open position if you wish to enter a second position at 3 00pm on expiration day of your current position, then you should set days to expiration to 0 and adjustment time to 3 00pm on the specified days to expiration and adjustment time, the bot will enter a second position and manage it just like the first for each position, the bot will utilize the full allocation given to that bot it will not divide the allocation by number of open positions for the bot note this adjustment will only execute if your bot currently has an open position if the bot has no open positions when enter second position is scheduled, then the adjustment will not trigger and a new position will not open when it's time for this enter second position adjustment to execute, the bot will attempt its normal order entry process with multiple limit orders until it gets a fill it will continue to try and fill a second position until the adjustment's designated "end time" if you have a wide time window (adjustment time to end time) on this adjustment, the bot will continue to execute this adjustment as long as there is only one open position and as long as any other adjustment criteria (if any) are met while a bot can only carry two positions at a time, you can configure this adjustment to execute throughout the day as one position closes so that the bot opens another to continue managing two positions simultaneously additional notes on the enter second position adjustment generally speaking, the enter second positon adjustment will execute at its designated time, regardless of any entry conditions or restrictions on the bot itself for more on this, reference the information below if you would like to restrict the adjustment with its own conditions/filters, you may do so using the adjustments docid 1 rdgr y6ak7co3sur9g4 filters at the bottom of this page days of the week the bot will not enforce a potential days of week filter on the bot (under entry conditions) when the enter second position adjustment is scheduled this adjustment will run at its scheduled days to expiration and time even if not on a day of week allowed under the bot's entry conditions disable on close this adjustment, enter second position, will not execute if your bot is currently set to disable on close outside earliest/latest entry time if your bot has earliest and/or latest entry times configured, enter second position will still run at its designated time even if outside of your bot's earliest/latest window those times are only used for the bot's first position maximum entries per day the bot will not check or enforce its maximum entries per day when the enter second position adjustment is scheduled this adjustment will run even if the bot is already at its maximum entries per day the new position that is entered from this adjustment will contribute to the bots total entries per day, though avoid fomc if the bot is configured to avoid fomc, that rule is not applied to the enter second position adjustment change profit target this adjustment will let you change your standing profit target order based on time of day and any other criteria available for adjustments this is useful if you wish to use different stop values based on time to expiration when this adjustment executes, the bot will enter a new closing profit target order at the adjustment's specified value this value will remain until it is modified again (either by another adjustment or by yourself) or when the position closes when the position closes, the bot's profit target will revert back to its original (pre adjusted) value you can schedule multiple adjustments throughout the day to utilize multiple different profit targets if your bot manages more than one position, all positions will use the same new profit target value you can override the current profit target for any single position by updating that order price at whispertrades you should always do this at whispertrades, not directly in your brokerage account if you manually change the profit target after an adjustment, that new profit target that you specify is the new default for the bot, and it will not revert or change when the position closes change delta stop / change itm % stop / change premium stop / change stop loss % the above "change stop" adjustments will change your monitored stop values based on days to expiration and time of day this is useful if you wish to use different stop values based on time to expiration at your scheduled dte and time, the new stop value will take effect this value will remain until it is modified again (either by another adjustment or by yourself) or when the position closes when the position closes, the bot's stop will revert back to its original (pre adjusted) value you can schedule multiple adjustments throughout the day to utilize multiple different stop values monitored stops are a bot setting, not a position setting if your bot manages more than one position, all positions will use the same stop value if you don't want both positions sharing the same stop value, you need to run separate bots if you manually change the stop value after an adjustment, that new stop value that you specify is the new default for the bot, and it will not revert or change when the position closes position filters for adjustments if you want your adjustment to only executed based on the status of the bot's current, open position, you can specify those position filters here minimum position delta (optional) your adjustment will only execute if the bot's current open position is at least this minimum delta value maximum position delta (optional) your adjustment will only execute if the bot's current open position is not above this maximum delta value minimum position profit % (optional) your adjustment will only execute if the bot's current open position is at least this minimum profit percent maximum position profit % (optional) your adjustment will only execute if the bot's current open position is not above this maximum profit percent minimum out of the money % (optional) your adjustment will only execute if the bot's current open position is at least this minimum out of the money (otm) percent maximum out of the money % (optional) your adjustment will only execute if the bot's current open position is not above this maximum out of the money (otm) percent minimum atm iv (optional) your adjustment will only execute if the current at the money implied volatility for your options chain is at least this amount this is at the money implied volatility, not implied volatility for your actual strike(s) implied volatility is an estimation and is not consistent between different sources (ie whispertrades and brokers) the implied volatility that you see at whispertrades will not match exactly what you see at your broker the gap will be larger for high iv and/or options that are near expiration whispertrades has its own implied volatility formula (using bisection) and uses actual time to expiration rather than whole days to expiration this better reflects how iv changes as you approach expiration additionally, both whispertrades bots and backtests use the same implied volatility formula, providing a consistent experience when comparing backtest performance to live trading maximum atm iv (optional) your adjustment will only execute if the current at the money implied volatility for your options chain is under this amount this is at the money implied volatility, not implied volatility for your actual strike(s) implied volatility is an estimation and is not consistent between different sources (ie whispertrades and brokers) the implied volatility that you see at whispertrades will not match exactly what you see at your broker the gap will be larger for high iv and/or options that are near expiration whispertrades has its own implied volatility formula (using bisection) and uses actual time to expiration rather than whole days to expiration this better reflects how iv changes as you approach expiration additionally, both whispertrades bots and backtests use the same implied volatility formula, providing a consistent experience when comparing backtest performance to live trading market filters for adjustments minimum underlying % move from close (optional) your adjustment will only execute if the underlying stock/index/etf price has moved at least a certain percentage for the day maximum underlying % move from close (optional) your adjustment will only execute if the underlying stock/index/etf price has moved less than a certain percentage for the day minimum underlying % move from open (optional) your adjustment will only execute if the underlying stock/index/etf price has moved at least a certain percentage from the opening price of the current session maximum underlying % move from open (optional) your adjustment will only execute if the underlying stock/index/etf price has moved less than a certain percentage from the opening price of the current session minimum vix (optional) your adjustment will only execute if the current vix value is at least this amount maximum vix (optional) your adjustment will only execute if the current vix value is at least this amount ma crossover (optional) if you'd like to only execute this adjustment when two moving averages cross each other, you can do that with this setting this takes two moving averages (your choice) for the underlying and requires that one of them be above or below the other (your choice) for the adjustment to execute simple moving averages (sma) smas all use days for the period 200 day sma represents the average closing price over the last 200 days for the current day that the bot is trading, the bot will include the current underlying price for that day's price if you are using the 200 day sma, the average will come from the current intraday underlying price and the 199 daily closing prices before that smas use unadjusted prices, which can lead to false signals following stock splits exponential moving averages (ema) emas all use minutes for the period 50 minute ema represents the average price over the last 50 minutes, with multiple readings sampled per minute to determine an average price for each minute emas reset daily and do not include prices from the prior session this means that your ema is not complete until the number of minutes in the ema length have occurred for the current session if using a 50 minute ema while only 5 minutes into the session, the ema at that point in time will only reflect the average for the first 5 minutes, not 50 minutes you may wish to restrict adjustment until a time of day when your ema calculations are complete for your selected length ma value (optional) if you'd like to only execute this adjustment when the underlying price is above or below a specific moving average, you can do that with this setting you'll choose the moving average and also the percentage above or below to compare against if the underlying is at least your specified percentage above or below the moving average you select, this filter will be valid simple moving averages (sma) smas all use days for the period 200 day sma represents the average closing price over the last 200 days for the current day that the bot is trading, the bot will include the current underlying price for that day's price if you are using the 200 day sma, the average will come from the current intraday underlying price and the 199 daily closing prices before that smas use unadjusted prices, which can lead to false signals following stock splits exponential moving averages (ema) emas all use minutes for the period 50 minute ema represents the average price over the last 50 minutes, with multiple readings sampled per minute to determine an average price for each minute emas reset daily and do not include prices from the prior session this means that your ema is not complete until the number of minutes in the ema length have occurred for the current session if using a 50 minute ema while only 5 minutes into the session, the ema at that point in time will only reflect the average for the first 5 minutes, not 50 minutes you may wish to restrict adjustment until a time of day when your ema calculations are complete for your selected length additional filters for adjustments adjustments run independently from the bot and execute at their scheduled adjustment time if your bot has any entry filters on it, such as earliest/latest entry time, days of week, or underlying % move, the adjustment will not respect those bot entry filters if you wish for your adjustment to use entry filters, you specify those separately on the adjustment those filters can match the bot or be completely different available filters are listed below days of the week specify any combination of days of the week (monday through friday) that the adjustment is eligible to execute on variables (advanced) if you wish to restrict your adjustment based on bot variable values, whether controlled by this bot or another bot, you may do that by adding bot variables to your bot's entry condition for more information on this, please reference our guide page on variables docid d 9u04do7 jbhqkq0gbs