I see that there are Trailing Max drawdowns. This is a great feature which is not available on any other major brokerage platforms. I love Tradovate for this reason. But there is a problem with available Max drawdown risk settings.
Both End of Day Trailing Max draw down and Real Time trailing max down will ensure that you retain your capital but not profits. If I grow my small account from $500 to $10,000, I need a way to stop me out at $2000 trailing stop loss based on account value which means, my account value will remain at $8000.
End of day Trailing Max draw down is better compared to the other one. If my yesterday’s account value was $6000, at least I would get stopped out at that level. Stopping out at $500 means that I have given back all my profits and mental capital spent to make money.
Please add this new feature where I have the control over account level max draw down in real time.