©
Nirvana Systems Inc.
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WizeVest Trade Processor User Guide
6
Monitoring the Trade Processor
In general, when the Trade Processor is left to run in Automatic mode (Automatic
Entries and Exits enabled) or Semi-Automatic mode (manual Entries and Automatic
Exits), Unmanaged Positions should not occur. There are cases, however, where an
Unmanaged Position can happen even with Automatic Exits enabled. Therefore,
users should periodically check their Trade Processor for Unmanaged positions and
consider closing them if they occur.
Unmanaged Positions
Certain events can occur that cause a position to become “Unmanaged” or display
“No Position” in the Trade Processor.
An Unmanaged Position is an open position at the broker that the Trade Processor is
not managing and WILL NEVER SUBMIT AN EXIT FOR.
All unmanaged trades in the MBT Positions and MBT Orders tab are displayed in red
text.
The user can easily place a market order (during the times allowed by the broker) to
close trades that become unmanaged by unchecking them in the MBT Positions tab.
The following situations will result in Unmanaged Positions:
•
Opening trades directly through the broker.
Users can open trades in an account that is being managed by the Trade Processor.
This is useful if the user wants to trade in the account in parallel to the Trade
Processor. Any trades placed outside of the Trade Processor will show as Unmanaged
Positions.
