Risk Management
Is the main section of options that controls all of your risk management, including order qty, trailing stop, padding and more.
Last updated
Is the main section of options that controls all of your risk management, including order qty, trailing stop, padding and more.
Last updated
This section controls risk when using the Automatic Position Sizing mode (recommended)
Automatic Position Sizing Mode
Enables this mode. If unchecked, the manual Risk Management mode and its settings discussed below will be used
Display PNL
This will display the PNL for active positions
Account Size
The balance of your account (if live), or the drawdown amount (if a prop firm account)
Max Risk Per Trade
Value is a percent
Recommended max risk per trade is 3%
Max Risk Per Day
Value is a percent
Recommended max risk per day is 10%
Reward/Risk Ratio
Value is a whole number
This is a very important value and will be used to determine where your take profit will be (Fixed Take Profit Mode)
If you use a value of 5 and the risk of the zone if $150, then your take profit will be 5 times this at a price that will result in $750 in profit.
This section controls risk when in manual mode
Sim PNL Mode
Ignores max loss or max gains settings
Order QTY
The number of contracts you want to trade
Fixed Take Profit Target (currency)
The value entered is the amount in currency you want to make for your take profit
The order qty is factored into where this profit target order is placed
Daily Max Gain
Value is in currency
Provides a limit to the amount you wish to gain and will stop trading once your account reaches this amount
Max Loss Per Trade
Value is in currency
Restricts which zones will be traded on based on your max loss setting
For example, if your max loss if $250 and a zone is drawn with a risk amount of ($300), this exceeds your risk amount per trade and no trade will be taken at this zone.
Daily Max Loss
Value is in currency
This will stop trading once your account traded in by your strategy exceeds the max loss value
Warning: We don't recommend you 100% rely on this setting to stop you from loosing more than inputted amount. We highly recommend you have a failsafe max loss method set up directly within your broker. Most brokers have a way to setup a max loss per day setting.
