“It’s too easy to adjust the risk settings and overtrade. We need to be able to lock our choice until the end of RTH or 24 hours to cool down instead of overtrading and frantic adjustment of settings”
Hi,
This topic was discussed in the old forum. Are there any updates on when this will be available?
It’s still on our list (although a little further down it). So, I cant give any real estimate on availability as of now.
We will keep this thread updated as it progresses.
Can you provide its position relative to which other features? FIFO would be assumed to be the standard operating procedure for implementing such a feature. And IMHO an apology or humble tone is apropos considering the market conditions.
I could use this feature for sure, it’s been almost half a year since was put on the to do list.
any update on it?
I really could have used this today, is not tradovate fault that I lack discipline, I’m trying to get better at that, but this would really help in the meantime, at the end if I blow up my account, tradovate loses a customer and the commissions that customer generates.
Risk management is the cornerstone of trading, this should be a priority, maybe add a timeout setting, like lock for X mins after day limit reached?
Is anyone from the team looking at these posts?
We have several team members monitoring the forum. This particular item is in the queue for development, however, it has not yet been assigned/scheduled
Ok cool, thank you for taking the time to answer, much appreciated.
Funny thing is that instead of implementing this they added a fine if you account runs out of money, so I can no longer do what I was doing of just keeping the max amount I was willing to lose on the account, so they .would lock me out until I transferred more, which was great, I’m on the fence on continuing my commission free plan and moving somewhere else, if they implement this I’d actually transfer my main account to them, is the only thing holding me back.
In release 1.201113.0 we will be introducing the feature to allow you to set risk parameters for your account, and lock those settings. If the settings are locked and your limit is hit, they cannot be changed until the loss limit calculation reset by our servers between 5:00PM ET and 6:00PM ET.
To enable this feature:
Go to Application Settings > Account Risk
Crap I had just cancelled my subscription and was going to close the account, I’m serious, came to take a look at this to see if there was more votes or some update to see if I’d come back in the future just to see you guys actually implemented it
I’ll restore my stuff and transfer some money to test this out.
This is awesome, thank you so so much.
We’re shooting for 11/13/20 release to have this out there. I’ll keep this topic updated.
I was locked out of my account early this week by exceeding my weekly loss limit, it was set a bit too tight. It’s great that they have his feature, and I like Tradovate very much . But I believe perhaps it might be a good idea to disclose on weekly loss limits and how they cannot be changed until the very end of the week. I’m sure it would save them the hassle of dealing with someone like myself wondering when I can modify my settings. I was told it would be Friday at 6:00PM eastern and my account remains locked. I will wait until 6:00pm which would be the start of the new week.
I am still locked which makes no sense to me.
Hi @Garcia9808
Can you contact our support team and they will be able to help troubleshoot any issues with this?
Thanks!
Hi Folks,
I just wanted to bump this topic, as admittedly my occasional lack of self-discipline necessitates a hard server-side lock on my account when daily loss limit is hit. I see the goal for this version update had an ETA of Nov. 2020; just bumping to see if release 1.201113.0 is yet available?
Thanks
Yes.
You should see this under Application Settings > Account Risk Settings
Brilliant; thank you!!
I didn’t see the toggle at the bottom.
Cheers,
Michael
We absolutely need ability to lock our risk parameters till end of session. What is the point of setting risk parameters that can be changed at any time. If your max loss is $100 and your at -$85 the temptation to go change the Max loss to $150 is too tempting sometimes even for the best of us.
In the morning before any trading when you have a clear head you should be able to choose what Risk you want for say the next 20hrs+, set it, and then have those locked in with 100% inability to change until the expired time you set for.
If your working for a Prop Firm and have risk controls you can’t just change them cause your having a bad day…
This shows “solved” but it is not
1.) if I hit my limits, I can literally just change the limits - and keep trading. trust me, I’ve done it.
2.) the settings should not lock “if hit” - they should lock if any trade is opened for the day or week or whatever parameter/timeframe the user selects. currently, with “if hit” - when I’m in a live trade approaching my limit, I can just change the limit before hit to keep the system from automatically selling my position. again, trust me, I’ve done it.
there should not be the ability to change any risk settings once i have opened any position - not before limit hit and not after limit hit - fail. my risk settings should be defined before the trading day or before a the first trade of the day and should I should not be able to change them until the end of the trading day (or for some traders, maybe they shouldn’t be able to be changed for the entire trading week, or trading month, or trading year) - so settings to this effect need to be added and tested to confirm they work (because they don’t)
