"Custom Risk Settings LOCK until end of session"

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

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Yes.

You should see this under Application Settings > Account Risk Settings

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Brilliant; thank you!!

I didn’t see the toggle at the bottom.

Cheers,

Michael

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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…

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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)

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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.

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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.

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Not solved at all.

I made a similar post.

This is clearly a common problem and probably not a hard fix.

Giving us the ability to LOCK :lock: RISK CONTROLS
for the DAY from the MOMENT we hit save would really help us.

Please Tradovate, help us out! :pray:

I love this feature in spirit, but in practice we just end up adjusting the DLL intra day before we hit it and it becomes useless.

It would be really helpful if we had the option to lock it for the entire day.

Right now it’s: LOCK if hit.

We need: LOCK from the moment it’s saved.

Exactly Jess. Lock feature on Tradovate is pointless… You know when one of these futures brokers finally decides to implement this they will have an extreme edge to the competition. No one is doing this. The only way to get this is to join a prop firm and few have the time / resources to do that. I am sure there are traders out there who would gladly even pay a bit more in fee’s / commissions just for this feature. Someone is going to figure this out eventually and I do hope it’s Tradovate cause I do love their platform.

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I called Edge Clear and they said they can set a hard lock for the day until you call/ email them.

Not as smooth as Tradovates risk dashboard, but hey Tradovates risk controls don’t work for us anyway. :sweat_smile:

So I may test out their platform and see how I like it.

There is a workaround. You have a trusted person (ie spouse) with account access which you do not have (email password). Set risk limits. Then you, the trader, creates an account and then trusted person gives you trading privileges on their account. Only hiccup (which is worth it in my opinion), is you have to pay pro data fees. I have successfully set this up. I can make the data fee back in one easy trade. You must set up a power of attorney with them.

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Interesting. Thanks Kawi. Is there some documentation from Tradovate on this? This sounds like the only viable answer for now. Could I do this the opposite way? Like I own the trading account and then I create a trading account for my wife and give her power of attorney. Then I give her my account access. She changes password and sets limits. Then I use her account and trade my account which I now don’t know the password to? Also what are the pro data fees?

Yes you can do it that way.

pro fees https://tradovate.zendesk.com/hc/en-us/articles/360021441653-What-are-the-professional-market-data-rates-

There are no docs for this. I had a lengthy email convo with Andrew to get to the bottom of what I wanted and set it up in a day. Works perfectly.

I only trade ES so the fees are a non issue.

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Thanks Kawi, appreciate it.

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Is it possible to lock the setting for the week? I have a request here since I found this request just wondering if you are already implementing this: Requesting Risk Management setting - lock the setting for the week