Panic Key explanation

[Monk 0]

Can someone explain how the Panic Key works in detail? Thank you.

 

close all open positions (all orders must be cancelled first) Shift+ESC PANIC

[Robert H 455]

If you have no open orders (i.e, stop orders), PANIC will exit all open positions with market orders.

 

If you have open orders, PANIC will cancel those first. Pressing PANIC again will exit all open positions.

[WilliamH 67]

Also, Panic (Shift+Escape) Will close ALL Orders in EVERY ACCOUNT.

 

So lets say you have a live account and simulator account.

You currently have a position open in your Live Accounts

But are actively trading in only your Demo Account at the moment

If you use Panic Hotkey, to close all your Positions in your demo account.

your live positions will ALSO BE CLOSED.

 

This is how DAS setup their Panic Hotkey that comes standard with their program.

But for example you can change the Panic Hotkey to be account specific, and you can change

it from the market order to a limit +- bid/ask

[Robert H 455]

Great additional info! Do you happen to know how to set the Panic Hotkey to be account specific?

[WilliamH 67]

This should help all of us understand how to fully utilize the Panic Hotkey

 

Script = PANIC

Description = This will close all positions in your entire account, including Real and Simulator accounts

 

Script = PANIC ACCOUNT=myaccount

Description = This will close all positions in only the specific account

[Guillaume 1]

Anyone knows the script of the PANIC button ? 

I know I can close all positions with (Shift+Escape) but I would like to create a PANIC BUTTON, not hotkey.

Is that possible ? 

[Justin 264]

7 minutes ago, Guillaume said:

Anyone knows the script of the PANIC button ? 

I know I can close all positions with (Shift+Escape) but I would like to create a PANIC BUTTON, not hotkey.

Is that possible ? 

Right click in the button section of the montage and select Add Button.

Name it "Panic" or whatever else you want to call it
Give it the colors you want
In the script area simply type:
PANIC

Edited March 23, 2020 by Justin

[Guillaume 1]

Thank you Justin, that's work perfectly 👍

 

[Abiel 475]

This question was asked in the chatroom:

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I wanted if the panic order in DAS closes all your account position (even positiosn taken directly through IB without using DAS)

GJ Member (thank you!) reply was: 

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Please note that DAS only loads Equity and Positions from IB one time each morning, so any trades made in IB’s platform won’t show up in DAS until the next day. We recommend that if you subscribe to DAS for IB, that you just use DAS if possible.