"Custom Risk Settings LOCK until end of session"

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?

1 Like

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

2 Likes

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


Set the risk parameters you would like for your account and check the box to enable “Lock Risk Setting If Hit”

“Save” the Risk Settings and confirm your understanding of the conditions in this modal

If you have set a value that is less than your accounts current loss for the day or week, the modal will notify you of this condition prior to saving

2 Likes

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.

2 Likes

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

1 Like

Yes.

You should see this under Application Settings > Account Risk Settings

1 Like

Brilliant; thank you!!

I didn’t see the toggle at the bottom.

Cheers,

Michael

1 Like

A post was merged into an existing topic: Risk Management Enhancements

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…

2 Likes

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)

2 Likes

I have contacted tradovate, and anyone whom I felt on this board had some sort of influence to get this fixed and its only fallen on deaf ears. I myself even as a former professional equities trader find myself breaking my rules time to time, something I never would have done or been allowed to do since we had live dedicated risk managers. Ive been chalking up the ocassional slipups to oh well your saving a decent penny on comissions so its worth it in the long run. Although I know deep down that it really isnt if I was unlucky enough to screw with it and the trading gods smite me 1-2% move that does not revert I could blow a sizable account so its keeping me from taking the plunge from fully funding a large account. I legit only checked this board today since I am planning on reaching out to edgeclear and begin the paperwork/process on an account. Something I really do not want to do since I love Tradovates software so much. Anyways its been another month and nothings been done. Its depressing actually looking at the most recent 50 topics and the same request for this Risk Control feature is about 1/5 of them yet no efforts is made.

1 Like

Having a reasonable profit goal you can hit early in the day to lock the account and trading very small is one way to try to work around this terrible human-DNA-derived dilemma. I think they don’t want you to be able to lock your settings once you place them because that would make most of us trade a lot less, especially on bad days where one can place hundreds of trades trying to make back losses, commissions can be staggering. But if it’s just about money then the monthly/yearly subscription plans should, as someone else suggested prior, have these fail-safes for clients.

I would honestly hope they thought the other way, where if a guy blows up in a single day on a bender they are done, but if they are there for the long term the commissions will be far greater. Although you might be correct. All I know is they lost me, I was good for 3-5K a month in fees and commissions on top of the 350 monthly package fee. Mind you, that was with a smaller account, while waiting for them to fix the risk settings before making a major deposit. Mind you, I ended up with a better package now anyway cost wise, so it’s a win-win. No worry of a blowup screwing, the account with a major drawdown, and my biggest worry more fees screwing up my EV is nonexistent. I guess the old saying of voting with your wallet is the only way to encourage change, might be true.