As you probably guessed, an exit strategy is the opposite of an entry strategy: it’s the strategy you set for when you’d like to exit the market. It’s a set of one or more conditions that will trigger a market order to close the position opened by your entry strategy.
To define your exit strategy, just type it out as a sentence, exactly as you did when defining your entry strategy.
By default, your strategy will run once, meaning that it will trigger your entry a single time. If you want your strategy to run in a loop, continually getting into and out of a position, simply adjust the strategy by toggling the switch that appears in the Wizard’s exit step. If you choose to run your strategy in a loop, it will shift back to monitoring the entry strategy as soon as your exit actions have been executed.
Note that defining your exit strategy is optional. However, choosing not to means two things:
The system will not monitor the position for closing. Rather, you’ll have to monitor and exit the position manually.
The strategy will not be able to run in a loop; it will run only once.
Once you finalize your exit strategy, click Next to move to the final step: confirmation.