Trade Scalper: the day-wide controls

These watch your whole book, not one leg, and they are the same controls as the web tool's. They live under Global Features in the Advanced panel.

Global MTM exits everything when the day's profit or loss crosses a figure you set, counting closed trades as well as open ones. X and Y move that loss cap up as profit grows, and Lock and Trail locks in a minimum profit — both of those read your OPEN profit only, so a loss booked earlier cannot drag them. Underlying Exit watches the index level rather than any option price. An example: loss figure Rs 5,000, X = 2,000 and Y = 1,000. Every Rs 2,000 of open profit pulls that Rs 5,000 line Rs 1,000 nearer to you — at Rs 2,000 of open profit the line is Rs 4,000, at Rs 4,000 it is Rs 3,000.

Lock and Trail, with numbers: lock Rs 2,000 once the open profit reaches Rs 5,000, then lock Rs 500 more for every further Rs 1,000. At Rs 5,000 of open profit the floor is Rs 2,000; at Rs 6,000 it is Rs 2,500; at Rs 8,000 it is Rs 3,500. If the open profit then falls back to the floor, everything is exited and the status line says Lock n Trail Profit Hit with the figure.

They are armed by Update, never by typing. Unticking a card and pressing Update turns it off. A cap set on the wrong side of where the day already is will be refused, because it would fire on the very next tick.

They are cleared on the first open of a new day, along with the ticket's defaults — see What a new day clears. The Trailing SL pair is stricter still: it is retired the moment the book it trailed goes flat, and it never survives a restart.

The day-wide controls read two different numbers. Global MTM profit and loss count the whole day — trades you already closed plus the ones still open. X and Y and Lock and Trail read your open profit only.

An example. Your Global MTM loss is Rs 5,000. By noon you have booked a loss of Rs 3,000, and your open trade is Rs 2,000 down. The day stands at Rs 5,000 down, so everything is exited — even though the open trade on its own was only Rs 2,000 down.

Now the other side. Lock and Trail is set to lock Rs 2,000 once profit reaches Rs 5,000. You booked Rs 4,000 of profit in the morning and the open trade is Rs 1,500 up. The day is Rs 5,500 up, but Lock and Trail does nothing: it reads the open Rs 1,500 only, so its Rs 5,000 has not been reached.

Underlying Exit watches the index, not your option. Set a High and a Low, press Update, and when the index touches either one, everything open is exited.

An example. NIFTY is at 24,250 and you hold calls. You set High 24,400 and Low 24,100. At 11:40 NIFTY touches 24,100: every open leg is exited at the market, whatever each option is priced at, and the status line says why. NIFTY touching 24,400 would have done the same.

The index it reads is the one your Symbol is set to — the spot, or its future if you chose one in Settings. A level the index has already passed is refused when you press Update, because it would fire on the next tick.