I would like to see some client-side risk management settings. Some brokers provide this option, but many do not.
I'd like to see:
Max share size
Max daily loss (no more trades allowed if this is hit)
Max unrealized loss
These should have an option to auto-flatten a position if either is triggered.
Example: Max daily loss = $1000, Max unrealized loss per trade = $100.
1) Current daily profit = $+500, but when the open position hits unrealized $-100, it will auto-flatten the position.
2) Current daily profit = $-950, but when the open position hits unrealized $-50, it will auto-flatten the position.
You might think traders should manually do this, but for those less disciplined, this can be an account saver. Of course, the user could go in and adjust these to override them during the day, but they'd have to take that extra step.
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Adventures In .NET
I would like to see some client-side risk management settings. Some brokers provide this option, but many do not.
I'd like to see:
Max share size
Max daily loss (no more trades allowed if this is hit)
Max unrealized loss
These should have an option to auto-flatten a position if either is triggered.
Example: Max daily loss = $1000, Max unrealized loss per trade = $100.
1) Current daily profit = $+500, but when the open position hits unrealized $-100, it will auto-flatten the position.
2) Current daily profit = $-950, but when the open position hits unrealized $-50, it will auto-flatten the position.
You might think traders should manually do this, but for those less disciplined, this can be an account saver. Of course, the user could go in and adjust these to override them during the day, but they'd have to take that extra step.
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