It would be great to have the chance to react quickly to catastrofic news.
Having many open positions with lots of pending buy/sell orders (mostly SL), it makes it hard and time consuming to cancel and sell everything.
Especially on some devices, cancelling orders is a laggy process.
I propose to have a one-click button to delete all pending orders and sell 100% of your open positions immediately.
This will help react quickly to really bad news and protect your capital at the same time.
Bonus: it would be even more efficient to have this button to trigger automatically based on a set of conditional logic rules (e.g. if SPY drops 3% in 2 minutes > Sell all).
This feature is mostly for day traders and scalpers.
How many pending orders do you have?
From memory it only takes 2 or 3 clicks to cancel a pending order. So unless you have more than tens of pending orders they could all be cancelled within a minute.
I am nervous about a global sell instruction as it would be so easy for someone to accidentally sell everything so incurring unnecessary costs and potentially missing out on any rebound.
In any case your portfolio should be diversified enough so that few stocks would be affected by the same catastrophic news.
Dangerous. It’s the nuclear option. Whilst the function may be useful, I wouldn’t attach it to a simple button on the main screens. It needs two or three stages at least, before implementing that instruction.
