Daily Loss Limit/Profit Target Parameters

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narratingmytrade
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Joined: Tue Nov 07, 2023 1:33 am
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Daily Loss Limit/Profit Target Parameters

Post by narratingmytrade » Fri Jan 26, 2024 8:58 pm

I think that providing a way to autoliquídate and freeze trading on a linked account for the rest of the session would be very helpful for a lot of traders.  This would particularly be useful for prop traders who can blow their accounts if they exceed their daily loss limits on accident (been there).  I think that a profit target and/or a daily loss limit would be perfect.  Another idea would be to have an "autoliquídate at X time" to save a trader whose internet crashed at the wrong moment.  Some prop firms require all positions to be closed by the end of the cash close or the account is blown.

The key would be for any changes made to the parameters to take effect in the following session.  Otherwise the monster within might be too strong to keep under control.