Exit existing positions at various days and times.
- gmt offset - offset to put with respect to broker's time (in GMT)
- target hour - target hour for closing
- target minute - target minute for closing
- parameters for enabling exit at certain days (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)
How it Works
- Exit Scheduler checks the current day
- If the current day is enabled in the parameters, it checks the time
- If the time matches a certain exit schedule, Exit Scheduler closes all orders
- Exiting positions by Friday - Some traders prefer to exit all active positions by Friday close and keep no open positions during weekends (or even holidays). Some brokers also limit their risks by reducing account leverage during weekends, forcing traders to exit most, if not all of their positions in the market. Doing can protect against whipsaws which may occur when the market reopens the following week.
- Eliminate rollovers - It can also be used to prevent negative rollover interests that may accrue for positions held overnight (especially Wednesday).
The parameters default to an exit schedule at 20:59 GMT (3:59 PM EST), which can be customized by the user.