daily stop loss

[murray t turtle]

I've started many days in the hole and ended blowing up my account.
A maximum daily loss limit would have saved me several of these.
.....but I am glad to hit my max loss and call it a day.
Tomorrow is another session with its opportunities.......................................................
To be around for tomorrow.

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NOT likely/ most that make above average % or %%, [or%%%]have not blown up @ least one account or ground it down to zero\goose egg LOL
For sure if asked to provide proof of liquid net worth/do it.
80% of Pro mangers cant even beat SPY benchmark;
probably about 8% or 18% or 00.8 % derivative traders do that. Assume a bull200 dma SPY market which we are in/ yesterdays close.

 

[TimtheEnchanter]

You can also pay someone to slap you on the head!

 

[deaddog]

You can also pay someone to slap you on the head!

That's not a bad idea. It forces you to have a plan so that the employee knows when to slap you.
Maybe you could find someone who doesn't like you who will do it for free.

 

[s trader]

You have to look at Risk Parameters -> Set By Trader -> Auto-liquidate Threshold

Any idea if that would work even if i turned off the comp. with a position open.

 

[Drawdown Addict]

And now is when we all realize that limit stop orders are a thing.
Why the hell would you like to set a hard stop on the whole account? if you had proper stops per trade you should be fine, regardless of any "algo" going mental.

@s trader I don't use the Rithmic Trader Pro software, just googled the query and found the answer. I have not idea how that piece of software works.

 

[Drawdown Addict]

Forget the hard stop, just make yourself listen to this song every time your draw-down is bigger than $300

 

[mervyn]

Forget the hard stop, just make yourself listen to this song every time your draw-down is bigger than $300

can't agree more, other than pray, mine is at a rolex mark.