Miscellaneous Exit
If you are using a stop (stop loss percent, ITM/OTM percent stop, delta stop, or trailing stop), you can optionally configure the sensitivity for that stop. Our backtests check for stops every 10 seconds and can either stop the very first time the market hits your stop level or only after a certain number of consecutive hits at your stop level, while checking every 10 seconds.
The choices for stop sensitivity are as follows:
- Super Patient - The backtest will confirm a stop when 5 consecutive 10-second checks are at your stop level
- Patient - The backtest will confirm a stop when 4 consecutive 10-second checks are at your stop level
- Normal - The backtest will confirm a stop when 3 consecutive 10-second checks are at your stop level
- Aggressive - The backtest will confirm a stop when 2 consecutive 10-second checks are at your stop level
- Super Aggressive - The backtest will confirm a stop the first time a 10-second check is at your stop level
Our bots use the same stop timing and also have these same sensitivity settings so that you can convert your backtest stops to live trading with confidence.
This is only applicable to positions containing credit spreads
If your position contains a credit spread (credit spreads, short iron condors/butterflies), you can exclude the long strike from your closing orders by enabling this setting. When you enable this setting ("Close Short Strike Only"), the backtest will not include the long strike in any of its early closing orders (profit targets and stops). The backtest will only close the short strike and then leave the long strike open until expiration. The backtest will settle the long strike value at expiration based on the underlying price.
If you leave this setting turned off, the bot will include the long strike of spreads with closing orders as long as there is a bid on the long strike. If there is no bid on the long strike, it will not be included with the closing order.
With Close Short Strike Only enabled, the backtest will still use the entire position (short and long strikes) to determine current profit/loss for early exits. It will use the entire position to trigger exit but will exclude the long strike from the closing transaction if this is enabled.