What is the wait and recheck feature in FYERS Smart Exit?

What is the wait and recheck feature in Smart Exit, and how does it work?

The wait and recheck feature in Smart Exit allows the system to pause and reassess your position when the Max Loss condition is triggered. Instead of immediately closing the position, Smart Exit waits for a user-defined period to see if the market price reverses in your favour. This is particularly useful during temporary price spikes or dips, often referred to as stop-loss hunting, helping you avoid prematurely exiting a position due to short-term volatility. By doing so, you may increase the potential to stay in a profitable trade longer.
If the market recovers within the wait and recheck period, your position remains open, giving you the opportunity to secure profits. If the price continues moving unfavourably, the system will exit the position based on the original stop-loss condition.

Example:  
Rahul has a long position in a stock and sets his Smart Exit with a Max Loss of ₹10,000. He enables the wait and recheck feature with a 15-second wait time. During the trading day, the stock price drops sharply, triggering the Max Loss condition. Instead of exiting immediately, the system waits for 15 seconds. During this period, the price rebounds, pushing the stock back into a profitable range. As a result, Rahul's position remains open, and he can continue holding his trade for potential profits.
Note: If the price had kept falling during the wait and recheck period, the system would exit the trade at the end of the period. However, the loss may exceed the Max Loss level of ₹10,000.

You can access the wait and recheck feature in the Advanced Condition section of Smart Exit in the video below.
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