What is an Exit Rule?
An Exit Rule is a series of parameters you specify on Stolo that, depending on the circumstances of the parameter being set, will automatically sell your open order or inform you.
With Stolo’s Exit Rule feature, you may set up target + stop loss for a single order, with one parameter defined as a primary and the other as a virtual one.
How to create an Exit Rule?
Hover over “Rules” on the top menubar of your Stolo dashboard, click “Exit Rules,” and then take the following actions:
- Sign-in to your Stolo Account
- From the dashboard, hover over “Rules” from your top menu bar and click on “Exit Rules”
- Click on the “Create a new rule” button from the top right corner.
Note – As you go onto the next few steps of creating an Exit Rule, you’ll be able to see how your Exit Rule is being configured on the righthand-side preview
- Fill in the name of your rule.
Tip: Use a name that will be easy for you to remember, as this name will be shown on order placing terminal.
- Add the lot(s) for this particular rule. This can be modified while placing an order.
- Select the type of Stoploss for this rule –
Normal Stop Loss- As soon as your purchase order is executed, Stolo will set this as the primary sell order if you have chosen it and executed it. With this pick, the following step will allow you to add a virtual target.
Virtual Stoploss – Our automated monitoring engine will keep monitoring your ongoing order and trigger a sell order, upon meeting your predefined criteria (next steps). With this selected, you’ll be able to add a normal target in the next step.
- Select the action to be taken for your Stoploss type –
Send Notification – When the pre-defined rules are satisfied, this option will cause a notice to be sent to your Stolo terminal. There will be no exit order placed with this option.
Exit Order – Exit Order – When the predefined criteria are satisfied, this feature will post an exit order on your broker terminal.
- Fill up the trigger settings for the appropriate Target type, which will be automatically determined depending on your choice of Stoploss type in the previous step.
- Verify all your details once, and then click on “Save” to save your Exit Rule.