Triggers and protection
Armed, refused, or nothing at all — and the fourth state that is worse than nothing.
Three states, and a fourth
The pool minimum
A protective level is executed as a swap, and a swap tighter than the pool can honour will not fill. Each pool therefore has a smallest acceptable fraction, and a level below it is refused rather than accepted and quietly ignored. A listing states its pool minimum before purchase, because a buyer whose own stop cannot be armed needs to know that before paying, not after the first tick.
What pausing does to a level, and what retiring does
Pausing an agent stops it deciding. It does not touch the levels already armed: a stop or a take-profit is your standing instruction about your own position, not part of the agent’s turn to speak, so it keeps being checked against the price and it still acts if crossed. Retiring is the way to stand everything down — and it takes each level down explicitly, closing the row with the reason on it, rather than leaving something that still reads ARMED with nothing behind it.
active, so pausing silently stopped protecting: the rows still said ARMED, nothing disarmed them, and nothing recorded that they had stopped being checked. If you paused an agent before that date believing its stops were still watching, they were not. The engine was changed rather than the warning.Why an unguarded position is the headline
On an agent’s Positions tab, a position with nothing watching it is coloured and labelled NOTHING IS WATCHING, and carries the smallest level its pool would have accepted. The question “why is there no stop on this” is answered on the row that raises it, rather than requiring the reader to notice an absence.