Is there any platform that allows for daily loss limits and restricting certain tickers?

D

Daal

I think that can help trading in certain days where a trader is off. Daily loss limits can save a fortune and banning certain tickers for the rest of the day can be pretty beneficial as well. Is there any trading software that can do this?
 
I’ve only used openecry, multicharts, and IB and don’t believe those platforms offer this. So you can rule those out.

And don’t u think it’s better to exercise your own personal willpower to stop instead of forcing you? Discipline is a key skill to have in trading
 
EsKiller said:
I’ve only used openecry, multicharts, and IB and don’t believe those platforms offer this. So you can rule those out.

And don’t u think it’s better to exercise your own personal willpower to stop instead of forcing you? Discipline is a key skill to have in trading
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Yes it is, most of the time I have no problems with this. The problems arrives when I have a bad night of sleep. Research (and my experience) has shown that willpower drops off a cliff after bad sleep. A tool like that can prevent lots of problems. Also for beginners, this would be gold. I know SMB capital has $500 loss limits for a lot of their beginning traders
 
Daal said:
I think that can help trading in certain days where a trader is off. Daily loss limits can save a fortune and banning certain tickers for the rest of the day can be pretty beneficial as well. Is there any trading software that can do this?
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On Lightspeed Trader we can set loss limits. It will not stop you out or stop you losing money, but it will stop you from opening new trades.

Bob
 
Robert Morse said:
On Lightspeed Trader we can set loss limits. It will not stop you out or stop you losing money, but it will stop you from opening new trades.

Bob
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It is possible to use LS as a front end to another brokerage?
 
My broker lets me specify all kinds of parameters. if i lose so much by this hour, if i have so many losing trades in a row, max loss on day. etc. he cuts me off till next day.
 
antiseptic said:
How would that even work? Couldn't you just override the function?
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nope. the only thing i did was tell my broker to stop me when i had $350 realized loss. that is what i wanted. when i closed a trade and i was down $350 on the day when i went to make a trade it would not let me. Thing is it made things worse. i would be in a trade and know that if i closed it out i was done trading for the day so I would frantically try to get another trade going to save me. or add to a loser in the current trade and pray. what a mess
 
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