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I agree totally and i understand completely the brokers point of view. To add a risk management feauture such as daily drawdown limit would be extremely bad for business for the broker. Thats why i figure they will never offer this sort of feature and really why should they! They are here to run...

Button trader is a good solution but not great. If your like me and most of you probably are then when your having a bad day im sure you going to push it little bit far on the risk side to get your losses back. Bad trading i know but for most human beings this is inevitable. In days like...

I have been searching everywhere for this exact same thing. No luck yet or replies to my previous post on this topic. :mad: I think i will go the route of either creating my own API for IB or something along those lines. If their are any order systems which do this kind of risk management...

I am just interested what your thought process is here Spec. Can you elaborate a little further please. I struggle with the fundamentals due to the amount of conflicting information. Hence, i am strictly a chart trader with little bias, i let the prices tell me whether i should be bullish or...

I hate that accumulation action, have to use very wide stops if you want to position yourself. I decided to simply wait for the horrible action to shake out the weak hands and was waiting for the 15:00 or 15:15 range expansion. Got long at 34, will scale out as we go.

I agree, i love using volume analysis on balanced days because of the high probability or reversion to the mean. First supply was tipped off at 14:25pm and confirmation at high of day. Imo it very rare to be a huge breakout on days like these without some sort of news announcement.

I don't see breakouts pushing too high on balanced days like this. Im still looking for a retrace to 1320 before we head any higher. Looks like they trapped the bulls here, examination of volume on 1min chart will clearly show that some sort of retrace at 57. Got short in 55-56 zone -...

Well i just downloaded button trader - that has a max drawdown and many risk management functions so i think this is exactly what i was looking for.

I find this type of market is extremely rewarding for daytraders. You can catch 10-15 point swings in a couple of minutes, i just try to trade without a bias and simple trading plays. I can't see why you can't make great money on a day like this, just don't try to out-think the market and go...

The reason i have got both is i found atleast 4-5 times last year that esignal will breakdown or the feed will get really slow. This is quite rare as i think esignal is top notch software but on these days the frustration of having positions on and having slow data feed or frozen feed was...

Hardware: - 1 custom built PC - 1 Dell XPS 420 (got good company deal on this one) - 1 Dell 17 inch laptop (laptop used for front-end). All orders are done via the laptop. - 3 broadband subscriptions (2 are used for trading, 3rd one is use for other office in the house and as back-up)...

My ugly setup: Specs: - Four 17 inch Dell screens on ergotron stand. - One 32 inch Philips screen (used as 2 screens or trading data windows). - One 26 inch spare screen which sometimes used for trading and other times for TV. - Dart board for release of aggression :D Setup has...

I was wondering if their was any software availiable to limit the max drawdown based on the rules of my system. For example: I use IB and my max drawdown rules for my one of my accounts is -$1500 on any given day, problem is that i have broken this rule twice now and even though i ended...

Esignal and my IB has not given me any problems whatsoever. Esignal feed is unusually fast today. Great action either way, many opportunities here. :D

My vision was 20/20 before i started, dont really know what its at now but getting much worse. Its time i get some glasses to help me while im trading. Other eye problems include bloodshot eyes after long time staring at the screen and major irritation to my left eye which hurts like a...

I would never want to short a range expansion like that, dying to get long on any retrace. Was long from 1410.50 and added more and 19 myself. All out at the high of day, still expecting more upside. Test of the high of day was inevitable. Maybe you let your previous short bias get the...

I would never want to short a range expansion like that, dying to get long on any retrace. Maybe you let your previous short bias get the best of you on that one.

You let that trade go 9 points against you at one stage. Where was your stop?

Homerun on last unit :D Out at 79

Yes sir - nice trade. Add on was at 90.50. Out 2 now still holding 1. Hoping for a test of the low.