Risk Management Settings
Contents
Position Brackets
How to Position Brackets
Apply Position Bracket settings to close out the position if the Risk or Profit trigger is hit. To apply the Risk and Profit brackets, enter your Risk and/or Profit dollar-based values. Check the “Automatically apply Risk / Profit bracket to new Positions” box to activate the feature.
NOTE: Position Brackets are now enabled on a per-account basis. When setting and saving your Position Bracket settings, they will only apply to the account selected.
Stop Loss and Take Profit brackets can also be applied to open positions when the default brackets are not enabled. To do this, simply click the position indicator on the chart and drag it up or down to create a TP (Take Profit bracket) or SL (Stop Loss bracket).
Bracket Order Types
Risk Bracket Orders are entered as Stop Market Orders; they will execute once the set stop price is reached, ensuring the trade goes through but not at a guaranteed price.
Take Profit Orders are entered as Limit Orders; if the market price hits your limit price, the order is executed, guaranteeing the price but not the execution.
Personal Daily Loss Limit
A Personal Daily Loss Limit acts as a risk management tool for traders, defining the maximum allowable financial loss within a single trading day. This predetermined threshold serves to protect the trader's capital from significant downturns in market conditions, ensuring effective risk management and maintaining trading discipline.
How to Enable a Personal Daily Loss Limit
Apply a personal daily loss limit (PDLL) on net profit and loss calculated in real-time. To enable the PDLL, you must enter a Personal Daily Loss Limit (PDLL) value and then select a PDLL Action:
If Do Nothing is selected, then the PDLL functionality is disabled.
If Liquidate is selected, then upon reaching the PDLL, all positions in the account will be liquidated. The action will then be reset to Do Nothing.
If Liquidate and Block is selected, then upon reaching the PDLL, all positions in the account will be liquidated, and the account will be blocked from trading until the next trading day.
When the PDLL is correctly enabled, the DLL gauge in your header will be replaced by a PDLL gauge. This gauge will move in relation to your net profit and loss to help you track your daily performance in relation to your personalized daily loss limit.
Personal Daily Loss Limit
Note: When an account is liquidated and blocked, it cannot be reversed. The account will be blocked from trading until the next trading day. This feature is intended to provide a break from the markets and promote disciplined trading.