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Create and Adjust Positions

Video tutorial​

This tutorial covers the trade lifecycle: build → submit/execute → monitor → adjust/exit.

Prerequisites​

  • MesoLive Agent is running and connected (market data + broker): see Install
  • A strategy is deployed from MesoSim: Deploy Strategy

Create a position​

Once a strategy is deployed from MesoSim to MesoLive, it appears on the Strategies page.

The Strategies page consists of:

  • a Strategies table, and
  • a list of Strategy risk graphs with controls for the active strategies with positions
Strategies page

1) Open a strategy and start a new position​

Open the Strategy Details page by clicking the strategy name, then click Add Position.

Strategy details (add position)

Select an account:

  • Use a paper account for your first run: Paper Trading
  • Use a live broker account once validated

2) Build the position​

Click Build to:

  • Select the legs based on your Strategy Definition
  • Evaluate entry conditions / abort conditions
  • Display a planned risk graph for the candidate position
New position (before build)
New position (after build)
important

You are responsible for deciding on the entry. If entry conditions are not met or abort conditions are triggered, it may still be possible to proceed, but it is a deviation from the trade plan.

3) Validate risk graph + variables​

Before submitting, sanity-check:

  • Risk graph shape
  • Legs table: contracts and quantities match your intent
  • Variables table: all required variables are present
Variables table
warning

Missing variables can cause erroneous behavior. Always validate that your strategy variables are correctly populated before execution.

4) Define order groups​

Click Submit to prepare orders. During submission, you must define order groups so the orders become executable by your broker.

Order groups
warning

Brokers impose limitations on which leg combinations can be placed as a single combo order. If a broker rejects a group, split it into smaller groups and retry.

Example: IBKR “No trading permission for this product”​

When submitting certain multi-leg combo orders through IBKR, it’s possible to encounter the error: No trading permission for this product. This can happen if IBKR doesn’t support the specific combo structure being submitted.

Order groups example (unsupported)
IBKR error (no trading permission for this product)

For instance, a 10x10x1 combo order may not be recognized by IBKR, causing the order to be rejected.

Solution: split the combo into separate supported orders (e.g. 10x10 + 1x):

Order groups example (split into supported combos)

5) Execute​

The last step depends on account type:

  • IBKR (TWS): send orders to TWS, then review and Transmit in TWS.
  • TastyTrade: send orders via the Agent’s integration.
  • Paper: enter fills in the Paper Trade step.

For further details please refere to the Order Execution page

Send to TWS
info

Orders sent to TWS are not automatically submitted: you must review and click Transmit in TWS for the order to enter the market.

Transmit in TWS

Adjust a position​

In MesoLive, adjustments are signaled based on the conditions defined in your MesoSim strategy, and surfaced in the Signals dialog on the position page.

To execute and adjustment:

  1. Open the position and click Signals
  2. For a triggered condition, run the matching adjustment flow:
    • Move Leg
    • Add Legs
    • Remove Legs
  3. Execute the adjustment using the Order Execution steps

Troubleshooting​