Trade Monitor

The Trade Monitor rule watches specific trades and triggers when those trades experience certain status changes or updates. It acts as a sentinel in your strategy, detecting events such as order placements, fills, modifications, or cancellations so that other rules can respond in real time.

How It Works

The Trade Monitor rule continuously watches for updates affecting the trades you specify and evaluates whether those updates match your predefined criteria. When an update occurs that matches the rule's conditions, it triggers and outputs the relevant trade IDs to notify downstream rules in the strategy.

The rule can monitor four distinct types of trade events:

• Base orders — Tracks when entry orders are placed, cancelled, or modified.
• Positions — Monitors when positions are opened (when base orders fill) or closed (when stop loss, take profit, or close orders fill).
• Stop loss orders — Tracks when stop loss orders are placed, filled, cancelled, or modified.
• Take profit orders — Tracks when take profit orders are placed, filled, cancelled, or modified.

For each trade event, the rule checks multiple criteria to determine if it should trigger: whether the trade ID matches one of the specified trades, whether the trade direction matches the configured side, whether the event status matches the configured status filters, and whether the trade component matches the configured type. This allows for very precise monitoring — for example, you could configure the rule to only trigger when a buy position is opened, or when a stop loss order is modified on a sell trade.

Inputs

Parameter	Description	Required	Default
Trade Id(s)	The specific trade IDs to monitor for updates and status changes. You can provide multiple trade IDs to watch several trades simultaneously.	Yes	—
Trade Type	Specifies what component of the trade to monitor. Options: Order (base entry orders), Position (position open/close events), Take Profit (take profit order status changes), Stop Loss (stop loss order status changes).	Yes	—
Side	Filters monitoring to a specific trade direction. Options: Any (monitor regardless of direction), Buy (only buy trades), Sell (only sell trades). Shown when Trade Type is Order or Position.	No	—
Position Status	For position monitoring, specifies which position status changes will trigger the rule. Options: Opened (position opened when base order fills), Closed (position closed when SL, TP, or close order fills). You can select one or both statuses.	No	—
Order Type	For order monitoring, specifies which order types to monitor. Options: Limit, Stop, Stop Limit, Limit Stop. Shown when Trade Type is Order.	No	—
Order Status	For order monitoring, specifies which order status changes will trigger the rule. Options: Placed, Cancelled, Modified. You can select multiple statuses. Shown when Trade Type is Order.	No	—
Take Profit Status	For take profit monitoring, specifies which status changes will trigger the rule. Options: Placed, Filled, Cancelled, Modified. You can select multiple statuses. Shown when Trade Type is Take Profit.	No	—
Stop Loss Status	For stop loss monitoring, specifies which status changes will trigger the rule. Options: Placed, Filled, Cancelled, Modified. You can select multiple statuses. Shown when Trade Type is Stop Loss.	No	—

Outputs

Output	Description
Trade Id(s)	The trade IDs that matched the monitoring criteria and triggered the rule. This list contains the trades that experienced the event being monitored, and can be passed to downstream rules for further action.

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