Reverse position is a very useful feature, which squares off the position at the current price and initiates a new position in the opposite direction from the current price. All in the same order.
Can we have a similar feature to square off at the current price and create a new position in the current direction(NOT the opposite direction, like reverse position).
I propose this feature as this has advantages.
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Using Trailing stop losses to manage ‘Take profits’ is not optimal as TSL takes profits at the lowest possible level, while this feature will allow us to ‘Take profits’ at the highest possible level.
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TSL does not provide a constant distance maintenance between Trigger price and LTP as exists at the time of TSL creation.
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Many times we feel we have reached the maximum of a trend and we want to take the profits at that point, but however keep a window open to continue in the same direction for some more time. Its helpful to have this feature to ensure we don’t exit and recreate a new position of the same type.
It will be good to do this in one order, instead of having to create two orders.
Please look into this, and please ask more questions if you have any doubts on this feature request.
Thanks.