Your valve is a remote valve not a selector valve. I have the same style remote valve on my old style 4000 that I use to power a fisher snow plow. I just use a bungee cord to hold the handle back. The valve is working as it was designed to work. When hooked to a cylinder to raise and lower a piece of equipment you could pull the handle back and when the cylinder got to the end of it's stroke the valve would go back to neutral. A new valve will do the same thing. The later delux remotes have an adjustable detent to keep them locked in.