Smart Exit Alert Feature in Fyers: A Trader's Insight

What is the Smart Exit Alert and how does it benefit traders?

The Smart Exit Alert feature in Fyers App is an innovative tool tailored for traders to meticulously manage their financial exposures. Unlike conventional alerts that function on percentage parameters, the Smart Exit Alert allows traders to establish Profit & Loss (P&L) thresholds based on specific amounts. Upon reaching these predetermined figures, the trader receives an instantaneous alert, empowering them with the choice to either exit the position/s or maintain it.

How does the Smart Exit Alert work?
  1. Initiate a Position: Say, you hold open positions (excluding equity delivery) in certain stocks.
  2. Anticipate Market Fluctuations: You anticipate possible market fluctuations during the trading day but might not be available to constantly monitor the charts due to personal commitments.
  3. Set the Smart Exit Alert: Using the Fyers App, you can set up a Smart Exit Alert. For instance, you choose a threshold of a ₹500 increase in profits and a ₹200 dip in losses.
  4. Receive Alerts: If your profit escalates by ₹500 or declines by ₹200, the Fyers app will promptly notify you with the message, "Smart Exit Triggered".
  5. Make Informed Decisions: With this, you're better positioned to determine whether to sustain your current position/s or opt for a timely exit, ensuring you're always in control of your trading decisions.

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