Main_Pos_Strategy_Manager

What does this do?

The Strategy Manager allows you to set Exit Plans at the strategy level and also Group your holdings for an underlying into your desired set of strategies. Note that if you regroup your holdings for an underlying you will have to enter new exit plans.

IMPORTANT NOTE: Currently, the Exit Plan is purely a discipline and informational tool and does NOT cause any alerts or orders to be triggered. Versions coming soon will include such features.

For example, in the picture above, the current grouping is to view the long 100 shares and the short call as two separate strategies. Grouped this way, each strategy would have its own exit plan. Using the Alternative Grouping button, these two strategies could be grouped together as a covered call. If the user elected to change to the covered call grouping, a new Exit Plan would need to be created for the covered call and the old exit plans would be deleted.

How to do it:

Exit Plans

  • Click on any position strategy to get an Action Menu.
  • Click the Exit Plan icon.
  • You will see the Strategy Manager window. Note that all the strategies you own for the underlying will appear in the left hand column. You set an Exit Plan for a particular strategy by first selecting the strategy. The initially selected strategy will always be the one you navigated from. The right side of the window will display the Exit Plan for the selected strategy. If you have not yet set an Exit Plan for this strategy, the form will contain default values.
  • To set an exit plan, enter your Time Horizon, Profit Target and Stop Loss. Note that you may use the calculators (click the calculator icons) to enter the Profit Target and Stop Loss in several ways. For example, you may enter the Profit Target directly as a price level you wish the security to reach. You may also enter your target as a Price Gain, or amount you wish the security to move relative to your cost basis. Finally, you may enter your target as a % Price Gain, or percentage amount you wish the security to move relative to your cost basis. The Price Gain and % Price Gain values can be either positive or negative. By entering a value and clicking the Refresh button in the calculator the other two corresponding values will be calculated for your reference.
  • Click Save to save your Exit Plan.

Grouping

  • Click on any position strategy to get an Action Menu.
  • Click the Grouping icon.
  • You will see the Strategy Manager dialog. In the left column will be listed the possible strategy groupings for the positions you are holding. Select a strategy grouping and click Proceed. Note that after you change groupings you will need to re-enter your Exit Plans.
  • You may also access the Groupings feature if you are in the Exit Plan screen of the Strategy Manager window by clicking the Alternative Grouping button in the lower left corner.