When running
in black box mode, when you are
exiting position, in "Auto" mode, since it is
running "hands free", you
need to be assured that you will
exit with a reasonable price , but
sending a market order is not preferable.
Stormtracker
V4.0 provides the solution with it's
custom "Lmt Persist" order
strategy. If you configure the
Lmt Persist as an exit strategy,
once the Stop/Target is hit, a limit
order is sent near the market
within the tolerance you
specify. Then if the order is
not filled within the Cancel Timeout
Limit, or if the market moves away
from your order, then the order is
canceled and a new Lmt Persist order
is sent, until the order is filled,
or manually cancelled.
Using this
strategy, you can get a good fill
given the market conditions(and be
assured that the position will be
closed) without having to send a
market order that often results in
slippage.
