The Entry & Exit Rules page allows you to fine tune entry and exit rules within your strategy.

The Trading Criteria section controls miscellaneous features within the platform, including deductions, risk management and timing of stock selection.

Value to use for Entry / Exit Price - Specifies the market price to use for opening and closing positions:
  • Next Closing Price - uses the next day's closing price (simulating a Market On Close order).
  • Average of Next High / Low Price - takes the (High+Low)/2 price to simulate an intraday trade.
  • Next Opening Price - sets the price to be the next opening price, usually combined with slippage to generate a realistic entry or exit price.
Slippage - Slippage in live trading is the difference between the expected price and the price at which a trade is actually executed. As an example, a strategy that uses the Next Opening Price is in real life unlikely to achieve the exact price the exchanges advertise when opening and closing positions. You can specify an average % slippage that will be applied to each entry or exit the platform records.
  • Fixed Percentage - allows you to specify a percentage to use for each transaction.
  • Variable - calculates slippage based on the security's Market Capitalization.
Commissions - Allows the system to simulate commission fees for opening and closing positions. This can be:
  • % of Position - The system calculates commissions based on the specified % of the value of a position.
  • Flat Fee - The system will use the supplied amount, in the strategy's base currency, for each transaction.
  • Minimum Commission - the minimum commission figure to use, in the strategy's base currency.
Stop Losses - The platform can set limits to how far it will hold a position while it is falling in value. The stop loss can be:
  • % of Opening Price - the stop limit is fixed at the specified % below the opening price and the position will be closed if the price goes below the stop.
  • Trailing Stop - the stop will be set to the specified % below the highest price the underlying security reaches whilst being held. The stop is adjusted dynamically as new highs are reached.
When Rules Suggest Closing and Opening at the Same Time - At times, and especially when Close All Positions At Rebalance is set, the platform will attempt to open a position that has just been flagged to close. You may specify what action to take in this event:
  • Hold Current Position Open - removes the request to close the position.
  • Adjust Position To New Value - buys or sells shares in the position to make it equal to the new required value.
  • Close Position - continues to close the position.

Entry & Exit Rules (Optional)

By default the platform automatically closes all positions at each rebalance. While most of the work in selecting which stocks get selected are handled by the Universe / Ranking controls, you can specify additional rules to fine tune when a position is opened or closed.

These rules are run after the stocks have been selected by the Universe and Ranking routines and just before a stock should be opened or closed

The above example shows AtlasScript formulae forcing the platform to only buy stocks if the most recent Rank score is greater than 90. To open a position all enabled criteria must be true.

The example also shows that a position will be closed at rebalance if its most recent Rank is less than 50 or the position has been held for more than 25 working days. A position will be closed if any of the entries is true.