Profit Target and Stop Loss Order Types

Profit Target Types

The standard profit target type (default) is the 1-minute platform-managed check.

You can also chose a resting profit target by selecting the option. This will place a brokerage GTC resting limit order for the specific PT.

(Note: as described below, you can alternatively have a resting SL order on a SINGLE leg only. If a user chooses to use a resting PT, they cannot also have a resting SL. This is a broker limitation.)

Stop Loss Types

The default stop loss is a 1-minute platform-managed check, and is a limit order.

Intra-Minute Stops

For 0DTE SPX and SPY, you can also chose "Use 0-DTE Intra-Minute Stops"

IMSL on 0DTE SPX/SPY

If this option is selection, the automation platform will check stops on a 1-second interval.

There is an additional option to select minimum consecutive hits. For example, let's say the user wants to execute the stop only if the stop is reached 15 consecutive seconds. The user would enter "15" into this field.

Minimum Consecutive Hits

Resting Stop

There is also an option for resting stops at the broker on single legs only. This is a stop-market order, placed at the brokerage, rather than a platform-managed stop loss. This is available on single legs only.

(Note: as described above, a user can alternatively have a resting PT at the broker. If a user chooses to use a resting PT, they cannot also have a resting SL).

Resting Stop