The Panic Sell feature in Anny is designed to protect users from bigger losses in case a signal hits the stop-loss indicated on the signal, and there are open positions without a stop order to cover them. When this situation occurs, Anny will activate the Panic Sell, and it will sell the entire outstanding balance with a market order to protect the user from further losses.
The Panic Sell feature is particularly useful for users who have the auto stop turned on but encounter unexpected scenarios where the stop doesn't work as intended. Some of the situations where Panic Sell might be triggered include:
- Mistakenly Canceling Stop Order: If the user mistakenly cancels the stop order for a position, the auto stop might not trigger when needed. In such cases, Panic Sell ensures that the outstanding balance is sold with a market order, preventing further losses.
- High Volatility and Trailing Stop-Loss: In highly volatile markets, trailing stop-loss orders may not re-arm as intended due to rapid price fluctuations. Panic Sell can help address this situation and protect the user's position.
- Forgotten Limit Sell Order: Sometimes, a limit sell order might be placed and forgotten, and if it gets executed and hits the stop, the auto stop won't trigger. Panic Sell ensures that the remaining balance is sold at market price to minimize losses.
As for turning off the Panic Sell feature, it is closely related to the auto stop feature. If you use the auto stop, the Panic Sell will be activated when necessary.
To disable Panic Sell, you would need to give up on using the auto stop feature altogether.
However, it's important to consider the risk management benefits that the auto stop and Panic Sell offer, as they can help protect your positions from significant losses in adverse market conditions. Always ensure that you fully understand the features and use them wisely according to your trading strategy and risk tolerance.