Setting a Daily Loss Limit in IB

F

flipflopper

Anyone know if there is a to set up your account so that all your positions are liquidated and you get a warning when your daily account losses exceed a certain limit?

Kind of like a self generated margin call.
 
i guess you could do it with the API...but a post-it-note would be easier, and one is no better than the other without the discipline to stick to it.
 
Quote from Asparagus:

i guess you could do it with the API...but a post-it-note would be easier, and one is no better than the other without the discipline to stick to it.
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Same could be said about hard stops... I would rather have my machine take me out in the heat of the moment.

Does that make me an undisciplined trader doomed to fail!?!

We'll see.

But if anyone knows of any program that hooks into IB that would allow me to create money management rules I would appreciate it.
 
I interpret your response as "There is no third party software I am aware of with that functionality. It would be possible to create the this by programming it yourself in Excel."

I would respond by telling you prefer purchasing this tool but will hire someone to program it for me if this is my only option.

Again I would ask if anyone knows of any software out there that does this I would appreciate it.
 
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