Exactly the same as the current ‘Trailing Max Drawdown’, except this one would NOT stop trailing when account balance becomes equal to starting balance.
The current feature protects downside around breakeven and below. It does not protect profit made intraday. This feature would. Nothing worse than making a killing and giving it all back because you don’t stop.
100% this is needed. I first thought that what you are describing is what a trailing drawdown would be, it would trail you indefinitely, but no… It stops trailing you any further than break even.
So if your Trailing drawdown is $250 and your up $750 in the day you can then easily make some bad decisions and get down to $0 for the day. If it trailed continuously then you would be stopped out at $500 for the day and still had a good day. I am my own worst enemy and these tools are tremendously helpful but could be even better with this adjustment or addition.
i have been wondering if this existed. would be awesome.
you can kind of hack it together by setting a max daily loss, but would be kind of a PIA to constantly adjust it as you keep going green.