Additional Account Level Risk Settings Suggestions (2)

Tradovate Feature Requests
1

It would greatly benefit me to have these two account risk settings added:

  1. Profit target lock out. EX. $200 profit target for the day. If that level is reached we are locked out from making any more trades for the day. Additional options to help manage the last trade that puts us over that amount.
  • Auto adjust a stop loss at the $200 tick level once breached (whatever that may be) to allow the trade to continue to run and allow us to continue managing the trade to the upside but protect us from letting our trade run against us, bringing us below the desired $200 profit threshold. (understood we may have some slippage from the market order filling a few ticks against us potentially)
  1. Add a number of trades per day limit. EX. Max amount of trades 10 round trip. After 10 round trip trades we are locked out from making additional trades, thus we are done for the day.

I can confidentially say these would help me more than any current risk setting. Often times I am up in the morning going into mid day. Then I fatigue and begin to make poor decisions. AKA over-trading, overconfidence, increase contract amounts with a loss and begin making riskier trades to bring myself back to my max profit of the day and end up down more than I was up. Time and time again.

Thank you tradovate for all of the awesome work you’ve done. You have a unique platform and seem to have a great team working on constantly improving the platform to help us trade better and more profitably.

2

I love this suggestions, but can see how this would be tricky from a business standpoint, same as Tradovate we do this for the money, and anything that keeps people from trading also prevents them from gaining those commissions fees.

So to propose a middle ground, something like this could be added only to users with commission free memberships, that way we all make money and prevent all of us from losing money.

3

Risk controls were already promised to me to be implemented before these forums were switched over to the new format, my feelings are a bit hurt that such a vital improvement has been placed on the back burner. I would expect no middle ground / compromise is needed, I would like this to be a standard option for new traders, I would hate to hide behind a wall of silence knowing others will face the same DNA-based behavioral and perceptual impediments to successful trading, when they could and should be provided with proper safeguards.

2 Likes
4

I just asked for this as a risk setting and was told # of trades/day is not available, and I could suggest it as a new feature here. Here I am finding out that it was suggested 3 years ago…I doubt this ever gets implemented.

1 Like