How can I set a Target and Stop Loss in AlgoDelta for a position that is already open in my broker account?
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Yes sir, definitely. You can manage an already open broker position using the Order Manager feature in AlgoDelta.
Just follow the steps below:
Step 1:
Go to the Order Manager page from the sidebar.
If you don’t see the Order Manager option, first enable it from the Dashboard.
Step 2:
Click on “+ Add Order Group”.
You can select either an individual account or a group, depending on where the position is open.
Then click on “Add”.
Step 3:
You will see the Order Group below and click on “+ Add Position”.
Now configure the same position that is already open in your broker account.
The important thing is that the script, quantity, transaction type, and product should match your existing position.
Example image below:
Note: if the order is already open then you have to enable compulsory already open enable.
You can also configure additional options such as:
-Trailing Stop Loss
-Start Time
-End Time
After completing the configuration, click on “Add”.
That’s it.
AlgoDelta will now start monitoring and managing that existing position. Whenever the configured Target, Stop Loss, or Trailing Stop Loss is triggered, AlgoDelta will automatically square off the position.
So even if the trade was opened directly from your broker account, you can still use AlgoDelta to manage exits and risk management without placing a new order.
